Accion San Diego was named Bank of America’s Neighborhood Builder for 2016 Monday and received a $200,000 grant.
The organization is part of a national network that uses funds to help small business owners expand. Often, the loans offered by Accion San Diego are more helpful to small businesses because they consider more than a company’s credit score.
Loans ranging from $300 to $75,000 help businesses owned by veterans, women or minorities as well as green businesses or startups.
Accion San Diego CEO Elizabeth Schott was shocked to learn they had received the grant.
Schott said many non-profits know there is a demand for their services but it’s hard to expand without capacity-building funds.
“That funding is so important and crucial to bringing your organization to the next level,” Schott said.
She said she will use the money for staffing, professional development and technical platforms.
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San Diego Market Manager for Bank of America Krista Torquato was on hand for the check presentation Monday.
She said Accion San Diego, which was selected from two dozen non-profit organizations, was a great match for the bank and its program.
