Accion Texas Partners with the Eva Longoria Foundation and the Howard G. Buffett Foundation to Help Latina Entrepreneurs

Nation’s Largest Microlender to Manage Latina Loan Fund

A PARTNERSHIP FOR LATINA ENTREPRENEURS: Accion Texas Inc. announced that it has joined forces with The Eva Longoria Foundation and The Howard G. Buffett Foundation to create the Latina Loan Fund, which administers microloans to Latina small business owners in some of the most economically disadvantaged areas of Texas. The Latina Loan Fund disbursed 58 microloans totaling just over $500,000 in 2013, helping to sustain or create 150 jobs in the Lone Star State. Pictured at the announcement are, from left, Howard G. Buffett, Angelique Gonzales (owner of The Frosty Frog, a gourmet shaved ice company in San Antonio, who received a loan from the partnership), Eva Longoria and Accion Texas President and CEO Janie Barrera. (Photo by Al Caballero.)

SAN ANTONIO--()--Accion Texas Inc., the nation’s largest nonprofit microlender, announces a new partnership with The Eva Longoria Foundation and The Howard G. Buffett Foundation that will provide small business loans to Latina entrepreneurs in some of the most economically challenged areas of Texas.

Nearly 500 business, community and political leaders gathered in San Antonio April 4 to learn about the initiative. "Accion Texas: Growing Small Business, Changing Lives" brought Eva Longoria, Howard G. Buffett and Accion Texas Founding President and CEO Janie Barrera together to kick off Accion’s 20th anniversary year and to publicly announce the partnership, which created the Latina Loan Fund, with Buffett making a $1 million contribution to Longoria’s Foundation and with loans disbursed and managed by Accion Texas.

The fund actually began making loans in the spring of 2013 and by the end of the year it had disbursed 58 micro loans totaling more than $500,000 – and creating or sustaining 150 jobs in some of the most economically disadvantaged areas of Texas. The Latina Loan Fund plans to loan the remaining $500,000 - plus proceeds from the April 4 fundraiser - in 2014.

“We are honored to be working with Eva and Howard, who share our vision of improving people’s lives through hard work, self-sufficiency and a hand up - not a hand-out,” Barrera said. “Our shared goal is not charity – it is helping people to help themselves.”

Also announced at the event was a new partnership between Accion Texas and the Hispanic 100, a network of Dallas area Hispanic women leaders engaged to help increase business development opportunities for Hispanic women-owned businesses and works to promote Hispanic women leadership in the private and public sectors. The Dallas-based group will help raise additional monies for the Latina Loan Fund.

Established in 1994 in San Antonio, Accion Texas Inc. manages the nation’s largest microloan portfolio and is committed to providing capital to entrepreneurs who do not have access to loans from commercial sources. Since its inception, Accion has made more than 14,000 loans totaling $160 million. Accion operates in eight states: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. For more information, visit www.acciontexas.org.

Contacts

Accion Texas Inc.
Ken Slavin, 210-531-5563
Vice President of Communications
kslavin@acciontexas.org

Contacts

Accion Texas Inc.
Ken Slavin, 210-531-5563
Vice President of Communications
kslavin@acciontexas.org