Aspiration’s initial giving partner is Accion, America’s largest nonprofit provider of microloans.
Microloans are – as the name implies – small loans that help transform a person’s life. We fund loans of up to $5,000 per person. These loans are intended to help Americans – often living in poverty or with low income – to launch their own small enterprises. These are the first rungs on the ladder of opportunity.
Accion provides not only capital to these budding small businesspeople, but mentorship and financial education. Fully 97% of the businesses Accion has helped start remain open one year after receiving the microloan.