Accompany Capital Annual Report 2020
Accompany Capital’s FY2020 Fact Sheet highlights the organization’s response to one of the most challenging years for small businesses, providing critical capital, technical assistance, and emergency relief to immigrant, refugee, and underserved entrepreneurs throughout the COVID-19 pandemic. The fact sheet demonstrates Accompany Capital’s commitment to helping businesses survive, adapt, and prepare for recovery while maintaining strong lending performance and expanding access to essential resources.
Key FY2020 Highlights
- Financial Impact: Disbursed $6,840,617 through 436 new loans, supporting 802 active borrowers across New York City.
- Business Growth: Helped start 44 new businesses and assisted 656 businesses in expanding and strengthening their operations despite the economic disruptions caused by the pandemic.
- Job Creation & Retention: Created 201 full-time jobs and 18 part-time jobs, while helping businesses retain 1,032 jobs.
- Inclusive Lending: Served a diverse client base comprised of 88% immigrants, 47% women, and 14% refugees.
- Strong Portfolio Performance: Maintained a low 1.48% loan loss rate, reflecting the resilience of borrowers and the effectiveness of Accompany Capital’s support services during the pandemic.
- IDA Program Impact: Supported 72 Individual Development Account (IDA) clients, helping clients save $123,000, earn $123,000 in matching grants, and access $258,411 in microloans, with 50 participants reaching their savings goals and receiving matching funds.
Download the FY2020 Fact Sheet for full details on sector breakdowns, loan performance, and complete workshop offerings
