Accion Reviews, Pricing & Popular Alternatives

Item: Accion
Rating: 1.9

By Abigail Orencia on January 31, 2019 | Lender Reviews, Reviews

Average Rating 1.9 1.9 from 7 ratings

Accion is a microlender that provides small, short-term loans to startups and small businesses. It offers small business loans for a variety of purposes but is structured in a way that the borrower’s specific location and state determine which loans he or she has access to. In this article, we cover user reviews and rates. Ready to get started with Accion? Visit their website.

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Accion Pricing

For startups without a credit history, Accion offers a payout of $300 to $8,000, while larger and stable businesses can get $8,000 to $1,000,000. Fixed rates range from 7% to 34% APR. Interested parties may use the monthly payment calculator on the company’s website to get an idea of their loan costs.

	Accion Fees
Interest Rate	7% to 34% APR
Closing Fees	3% to 5% of loan amount
One-time Processing Fee	$135
Payout	$300-$15,000 (startups with little or no credit history) $8,000-$100,000 (businesses with less than 6 months of sales history) $50,000-$1,000,000 (more established businesses)
Repayment Period	6 to 60 months

Accion doesn’t have a “one size fits all” loan type. Their loan offers vary depending on what state you live in and how successful your business is.

Ready to get started with Accion? Visit their website.

Visit Accion

Top Lenders 2019

	BlueVine	OnDeck	Fundbox
	4.3	4.7	4
Best for	Businesses that need to borrow against their invoices or needing a low-rate line of credit quickly	Businesses with good credit that need fast financing and low rates	Newer businesses with less-than-perfect credit that need fast funding
Loan Amount	Up to $5 million for invoice factoring; Up to $250K for line of credit	Up to $500,000	Up to $100,000
Terms	6 or 12 months for line of credit	3 to 36 months	12 or 24 weeks
Funding Time	1 day	1 day	1 day
Credit Score	530+ for invoice factoring, 600+ for line of credit	600+	No minimum credit score requirement
	Read Reviews	Read Reviews	Read Reviews

What Accion Does Well

As of the date this article was written (01/22/19), there are no recent positive reviews of Accion available online.

What Accion Does Not Do Well

There are not a lot of negative Accion reviews online. However, some expressed their frustration that their applications were not approved. Others complained about the difficulty of getting in touch with the company’s support team.

“I am writing this as a clear warning of how I was manipulated over the last 30 days and its direct impact on my personal and business life. I am in bewildered awe of not only how unprofessional it was handled, but also of the complete lack of contact with the exception of my calls to this organization, and with the final exception of one returned call.”
— Jason Rapoza

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Accion Features

Check out the list below of some of Accion’s features:
See Features

Accion FAQ

What types of businesses does Accion lend to?
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Can borrowers still re-apply after their loan application gets rejected?
See Answer

How long does the application process take?
See Answer

Accion Alternatives

Not sure if Accion is the right fit for you? Read our reviews of all top lenders.

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Reviews (7)
Disclaimer: Reviews on FitSmallBusiness.com are the product of independent research by our writers, researchers, and editorial team. User reviews and comments are contributions from independent users not affiliated with FitSmallBusiness.com's editorial team. Banks, issuers, credit card companies, and other product & service providers are not responsible for any content posted on FitSmallBusiness.com. As such, they do not endorse or guarantee any posted comments or reviews. Post Your Review

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Lauren Boucher
1 Review
15 Points
0 Screenshots
0 Answers
Review SourceFitSmallBusiness invited user to leave a review and offered a nominal gift card as a thank you.
April 13, 2018 at 6:22 pm
★ ★ ★ ★ ★
Overall Experience
★ ★ ★ ★ ★
Cost
★ ★ ★ ★ ★
Customer Service
★ ★ ★ ★ ★
Speed
What does the company do well?
It is very hard to find something that ACCION does well, simply because they do so much that is incorrect and have a very poor platform for service. What I remember is how badly I have been treated.
What does the company not do well?
See above
What about the company do you wish you had known before purchasing?
This company is not service oriented, the lack of good customer service is the number one fault. Erroneous charges, late fee’s when it is not late, and no one can corroborate a story because no one stays long enough to do so. Its poorly run, and managed.
Review SourceFitSmallBusiness invited user to leave a review and offered a nominal gift card as a thank you.
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Jason Rapoza
1 Review
15 Points
0 Screenshots
0 Answers
Review SourceOrganic
January 29, 2018 at 10:39 pm
★ ★ ★ ★ ★
Overall Experience
★ ★ ★ ★ ★
Cost
★ ★ ★ ★ ★
Speed
What does the company do well?
I am writing this as a clear WARNING of how I was manipulated over the last 30 days and it’s direct impact on my personal and business life. As I am in bewildered awe, of not only how unprofessional it was handled, but the complete lack of contact, and by complete I mean absolutely none, with the exception of my calls to this organization, with the final exception of one returned call. One.
I have been diligently working to structure my business and expand it in a fashion of profitability, a planning years in the works, instrumental for a number of factors, even more so as my daughter went off to University this past August.
In mid December I was referred to Accion for a number of factors, including my low credit score as a result of identity theft. Secondly I believe perhaps, my race of Portuguese/Brazilian which is often called into question locally, although I did earned my bachelors degree in Economics and Marketing from studying both hear and abroad.
After applying on December 29th, I contacted your organization the first week in January to follow up, explained my situation, and I was told that my application was being processed and approved, that as long as I had my information on identity theft, information on income from my company, for the past 6 months to 1 year, I was eligible and would have a positive result in a week, with an amount undetermined at that time. I had not received an email, or call, of receipt of my application, or of it’s pending result, or have I to this day. I called again the second and third week of January with no returned call. Finally, I called a main number I believe in DC, and was referred to a number in Boston, I had the opportunity to speak to a woman for about 5-10 minutes, and told I would receive a call back later that day or within a few hours. I did receive a message to call someone back and did so, I left a message on Friday January 26, 2018.
I had the opportunity to speak to someone TODAY and was informed that my application was denied on Friday, after my conversation with someone last Friday, January 26th, after I was informed otherwise, on more then one occasion. After I confirmed I could go forward, with expanding and investing what little I had back into the business. I was told my application was denied THAT DAY, and an email was sent to me on Saturday the 27th. I never received any such email.
What does the company not do well?
Let me be direct in informing you of the impact of what the incompetence that Accion has had on my life now. As of Today, I have no choice but to consider giving up my residence and moving in with family temporarily. I have to start making serious immediate cut backs before the first. Therefore as a result of there incompetence I may be essentially homeless, at 51 years old with my daughter in college. Although I will recover, hopefully before she comes home for break. I should have never put out the funds I did, with the expectations of getting proceeds before the end of the month, to find out now I am completely denied. Just like that, oh well type of a response today on the phone.
What about the company do you wish you had known before purchasing?
I was recently approved to sell my items on Amazon Prime. I very large if not huge expansion for my company. A process I have been working on for months. I must continue my focus on that, and other aspects of my business while, this major set back, has absolutely devastated my life. I hope going forward, your organization will take matters far more serious, as you hold peoples lives at stake, this is not just an application, or a phone call, or an email. It’s a life, a lively hood, a career path, a sense of stability, your organization put not only at risk, but jeopardized and directly devastated.
Review SourceOrganic
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Samuel Beard
Review SourceOrganic
April 11, 2017 at 10:07 am
★ ★ ★ ★ ★
Overall Experience
★ ★ ★ ★ ★
Cost
★ ★ ★ ★ ★
Customer Service
★ ★ ★ ★ ★
Speed
This company’s loan process is horrible. Do not waste your time with them. They do not loan money. The underwriters even laugh at you even when you have good credit. they are terrible to deal with, worse than tryin to buy a house. And still will not loan a cent. They suck!
Review SourceOrganic
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- tony
  July 28, 2017 at 9:43 pm
  hey Samuel,
  i am in the process of getting the paperwork together to send out when i came across your review. did you wind up paying the $2500 fee? how far did you get? my lending adviser is extremely nice and very helpful & informative. i did speak to a biz owner that received a loan from them almost 2 years ago and he was very happy. i know the interest rate is on the high side but when you have no other resources available to get you biz started anything is better than nothing. you can email me at anthonycardile@yahoo.com if you have any other tips or info for me thx
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micheal cantu
Review SourceOrganic
December 8, 2016 at 10:06 pm
★ ★ ★ ★ ★
Overall Experience
★ ★ ★ ★ ★
Cost
★ ★ ★ ★ ★
Customer Service
★ ★ ★ ★ ★
Speed
Well let me first start off by saying, that my loan was approved. I signed the documents, and then they come back and say your loan is denied due to UCC liens. I have great credit all being new, and then told oh you have 4 liens. I told Jennifer Siegel , no I have never had a lien. I pay everything on time. She stated oh, it’s not on your credit report, but we have to get it resolved. I am going all the way with this. I intend to contact every legal authority regarding this loan. I do not want to see this happen to anyone else. She has all of my personal information. I’m not sure why my loan went to Denver Colorado , and not Dallas Texas. Very strange, Then after I sign the loan documents. I am told that you did not get approved because of collateral. Well know did she forget that I did not need collateral which is in an email she sent. I do not think that they should receive federal money and abuse those that are in the community to grow their business.
Review SourceOrganic
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Why
Review SourceOrganic
September 24, 2016 at 2:14 am
★ ★ ★ ★ ★
Overall Experience
★ ★ ★ ★ ★
Cost
★ ★ ★ ★ ★
Customer Service
★ ★ ★ ★ ★
Speed
Don’t go the company for a loan they full Bull they accept people with bad credit but I got good credit and they denied me twice because my business wasn’t a home based then came back and said I was approved then came back and said well you have medical bill almost seven years old denied and my lender placer was like that’s unusual for them and it’s a mark on my credit.
Review SourceOrganic
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