Getting Real About Innovation: Why Accion’s U.S. Network Made the Leap to Digitize Its Lending Operations
Technology can be a double-edged sword – especially when it comes to small business lending. While there’s plenty of justified excitement over the potential of providing underserved SMEs with fast access to loans through digital platforms, there are also considerable reasons for caution. Though alternative lending products can boost access, many lack transparency regarding the true cost of the loan, and therefore risk trapping small businesses in a cycle of debt.
MetLife Foundation's Partnership with Accion
MetLife Foundation partners with Accion U.S. to support small business owners through access to finance, connections to business experts, and resources that are tailored to each business owner’s unique needs and goals. Accion U.S. is the largest nonprofit micro- and small business lending network. Funding from MetLife Foundation fuels Accion’s work to use technology solutions to reach more low- to moderate-income entrepreneurs with the capital and know-how that leads to long-term financial stability.