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ACCION New York American Dream Disaster Relief Fund
by: Staff

Published by:
on: Tuesday, July 16th, 2002

The American Dream Disaster Relief Fund is a loan program for micro-business owners not eligible for SBA loans. Program is committed to working with self-employed individuals who lack access to traditional forms of business credit. Its contributors include the Sloan Foundation, Charles Stuart Mott Foundation, and Johnson and Johnson, as well as a recent $500,000 grant from JP Morgan.

The program is viable through December 2002, at which time it will be reevaluated.

� Eligible businesses must be located south of 14th St. or can demonstrate that at least 50% of clients or contracts were located in the affected area.
� The rate of the loan is 5% and it is payable over 36 months.
� Eligible businesses include street vendors and service business (including shoe repair shops) that were housed in the WTC.
� Loans up to $30,000, terms of up to 5 years, with an additional 10% of the loan amount to be in grants. A partner, World Vision, has contributed these funds to ACCION loan recipients.
� To donate, or for more information, contact (718) 599-5170, visit ACCION representatives at the WTC Business Rebuilding Center at 140 William Street, or contact ACCION's loan officers at (917) 209-3958.
� ACCION also runs Loan Information Sessions. For more information, or to reserve a space at an information session, please call (718) 599-5170.

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