A Year of Milestones

by Yanki Tshering

We are very pleased to share the impact of Accompany Capital’s services in FY 2024, a year filled with meaningful milestones and growth.

Thanks to the dedication and passion of our lending team, we deployed over $68 million in micro and small business loans. In FY 2024 alone, we disbursed $9.7 million to 201 businesses and continued supporting 549 businesses with existing loans. These efforts resulted in the creation of 145 new full-time and 112 part-time jobs, while also helping to retain 1,098 jobs across our community.

Our commitment to providing timely, relevant resources was reflected in the 39 workshops and webinars we hosted, which attracted 1,798 attendees. When we learned that small businesses were facing fines for non-compliance with ADA website standards, for instance, we acted quickly, partnering with experts to create and deliver webinars on “ADA and Website Accessibility,” offering crucial insights on how to navigate this challenge. We also covered other valuable topics, including the highly attended “How to Raise Capital for Your Business” and various best practices for business management.

Additionally, we are proud to highlight the success of our NYC Taxi Medallion Refinancing Program. To date, we have successfully refinanced 22 medallion loans, reducing outstanding amounts from as high $400,000 – $650,000 to a much more manageable $95,000. We are committed to continuing this work, with plans to refinance 20 to 22 more loans.

Through the Equitable Recovery Grant (ERP) from the CDFI Fund, we were able to further expand our reach by providing loans and grants to help small businesses invest in equipment that reduces their carbon footprint, enhances performance, and increases efficiency.

We are deeply grateful to our board members, donors—both institutional and individual—and partners who share in our mission to support micro and small businesses in New York City. Most importantly, we thank our dedicated team for their hard work and commitment to making these achievements possible.

We look forward to another year of growth and impact, as we continue to support and empower the small businesses that are the backbone of our community.