Microfinance Focus May 27, 2011: The Michael Scott Mater Foundation (MSMF) recently partnered with Accion USA, a microfinance organization, to provide micro loans in Charlotte and across the state of North Carolina. The partnership will offer opportunities to low and moderate income individuals, primarily minorities, seeking small business loans during a nationwide credit crunch. MSMF in partnership with Accion USA will play a role in bolstering the small business community.

Through MSMF’s Green Micro Loan Initiative, new and existing small business owners and entrepreneurs will receive loans from $500 to $50,000 and business training, business coaching, and financial literacy in order to create jobs, build assets and improve their standard of living in order to contribute to the economic development across North Carolina.

Through the partnership agreement, MSMF and ACCION USA are looking to assist 3,000 entrepreneurs in the first three years. ACCION USA, MSMF anticipates over $1 Million dollars in the first year in available capital to the small business sector of Charlotte. The partnership will be effective immediately in Charlotte. MSMF is coordinating with state-wide partners to expand micro lending throughout the State.

With 15% of North Carolinians living at or below the poverty line and the unemployment rate now above 8.9%, MSMF’s partnership with Accion USA will give the State of North Carolina weakened economy the boost it needs to generate sustainable growth.

MSMF is a Charlotte based non-for-profit organization which seeks to build sustainable communities. The organization works in countries such as North Carolina, Oregon USA, Iraq and Peru.

Accion USA is a nonprofit organization and a microfinance institution situated in the United States. It has provided over $119 million in small business loans nationwide since 1991