2015 Annual Report | East

REVITALIZING COMMUNITIES

FROM WITHIN THROUGH

ENTREPRENEURSHIP

Yolanda Sealy, Dress With Confidence BoutiqueBoston, MA

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ON THE COVER:YOLANDA SEALYDRESS WITH CONFIDENCE BOUTIQUEBOSTON, MA

PAGE 3CLIENT BREAKDOWN & OUTCOMES

PAGE 4–6CLIENT STORIES

PAGE 7IMPACT

PAGE 8–9CLIENT STORIES

PAGE 10FINANCIAL SUMMARY

PAGE 11-12SUPPORTERS

PAGE 13–14STAFF, VOLUNTEERS & BOARD MEMBERS

PAUL QUINTEROCHIEF EXECUTIVE OFFICER

DENNIS LAGUEUX BOARD CHAIR

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Accion believes that small businesses are the backbone of vibrant economies and communities. We connect business owners with the financing and support it takes to create and grow healthy companies. For 25 years, our work has fostered job creation, wage growth and economic development in neighborhoods across the country.

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About Accion East

A Member of the Accion U.S Network

Accion East empowers small business owners through access to capital and financial education. We offer small business loans ranging from $500 to $250,000. Our loans are complemented by in-depth guidance, coaching and an entire support system of peers, mentors and resources. Groundbreaking partnerships, free workshops, webinars and online resources give our clients access to best practices, industry knowledge and professional networks. Since 1991, we have provided over $170 million in capital to small business owners across the country, creating and sustaining over 100,000 jobs within local communities.

Accion East is a member of the Accion U.S. Network, the largest nonprofit microfinance network in the United States. Since 1991, the members of the Accion U.S. Network have lent to over 50,000 people across the United States. Globally, Accion (www.accion.org) is a pioneer in microfinance, reaching millions of individuals through its international network of partners.

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We are proud to present our 2015 annual report, which highlights the difference that Accion has made in communities across the country by supporting and serving small businesses owners.

In 2015, we expanded our mission geographically and launched a new loan product, the SBA Community Advantage loan, to support business owners with up to $250,000 in capital. In addition, we achieved historic lending records and reached new financial heights to position Accion for future mission growth.

Geographically, we expanded our footprint with seven new states to serve 42 states across the U.S. through the Internet. In addition, we expanded our SBA Microloan offering to 11 states and were the first to be approved by the SBA to serve 14 states along the Atlantic Coast. Moreover, we launched a new loan product, the SBA Community Advantage loan, to serve business owners with capital needs up to $250K across eight states along the Atlantic Coast.

Our core microlending mission achieved historic levels of mission outcomes. In 2015, we disbursed $9.9 million and 1,135 loans—$1.5 million more than in 2014. Our New England and Florida programs achieved their highest lending volume since their inception in 2001 and 2003, respectfully; and our New York and Internet programs disbursed their highest levels since the Recession of 2008. In addition to capital, we provided over 18,000 hours of one-on-one guidance and support to 10,000 small business owners so they could borrow and successfully repay their loan—which 96% did.

Financially, we more than doubled our earned revenue over the past three years by growing our microloan portfolio outstanding from $7.2 million in 2012 to almost $12 million in 2015. Last year, we achieved a bottom line surplus of $1.5 million and have achieved surpluses for three years in a row. These surpluses have grown total net assets to $6.2 million—an historic high and a financial position that enables future lending growth.

Accion’s growth could not come at a more pressing time for our country. Economic inequality is an enormous and growing challenge. Both the income gap and the wealth gap continue to expand, while the middle-class shrinks. While there is no single magic bullet, we do know that small business ownership—and access to alternative sources of capital and coaching like those provided by Accion—are critical factors for economic mobility, income growth and wealth creation.

Looking ahead, Accion will be focused on two initiatives. First, we want to scale the capacity of our lending work by re-engineering our lending process to increase the ease and speed of obtaining a loan through greater automation and use of data. Second, we will be focused on successfully growing our new SBA Community Advantage loan product to become a leading lender in the U.S. within two years. Together with your support, we will continue to transform lives and increase the sustainability of our local and national community—one business owner at a time.

Yours in the mission,

Dear Partners, Friends & SupportersWho We Are

Paul QuinteroChief Executive Officer

Dennis Lagueux Board Chair

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Roni MazumdarTHE MASALAWALANEW YORK, NY

With Accion, Progression

The more I get into this business, the more I recognize how secondary profit really is and how important human relationships really are.”

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2015 Client Breakdown & Outcomes

Client Breakdown

GENDER ETHNICITY LOCATIONINDUSTRY

42%.... . . . . LATIN AMERICAN26%.... . . . . . . . . . . . CAUCASIAN20%.... . . . . . . . . . . . . . AFRICAN & AFRICAN AMERICAN9%.... . . . . . . . MULT I -ETHNIC & OTHER3%.... . . . . . . . . . . . . . . . . . . . . AS IAN

33%.... . . . . . . . . . . . NEW YORK & NEW JERSEY29%.... . . . . . . . . . . . . . . . . FLORIDA18%.... . . . . . . NEW ENGLAND8%.... . . . . . ATLANTIC COAST6%.... . . . MIDWEST/CENTRAL5%.... . . . . . . . . . PACIFIC COAST

37%.... . . . . . . . . . . . . . . . SERVICES14%.... . . . . . . . . . . . . . . . . . . . RETAIL13%...... MANUFACTURING & CONSTRUCTION 9%.... . . . FOOD & BEVERAGE9%.... . . . . . . . . . ARTS, MEDIA & EDUCATION8%.... . . . . TRANSPORTATION 5%.... . . . . . . . . . . . . . WHOLESALE5%.... . . . . . . BEAUTY & SALON

58%.... . . . . . . . . . . . . . . . . . . . . MALE 42%.... . . . . . . . . . . . . . . . . . FEMALE

Roni Mazumdar grew up watching his father’s love for cooking in their home in India. “I grew up seeing my father cook up a storm. He would bring home complete strangers to cook for them when I was young,” Roni remembers. Seeking a better life for their only son, Roni’s parents moved the family from India to the United States when Roni was twelve. “My parents’ sacrifices put them in a lot of jeopardy. If I am not capable of giving back, then what is the purpose of my life?”

When his father retired, Roni saw an opportunity to give back to his parents and proposed that the family open an Indian restaurant together. Financing the restaurant was a huge burden for Roni’s family; putting Roni through college had left his parents with limited funds. “We put in the majority of what we had. It was a huge gamble for us. The restaurant had to succeed—there was no second option.”

A year after it opened, The MasalaWala was dealt a devastating blow when Hurricane Sandy raged through the Northeast. Thousands of dollars’ worth of machinery and materials were demolished. Food was contaminated, and the space was flooded and inhabitable. “When Hurricane Sandy happened we didn’t know how we were going to survive,” explained Roni. Roni found Accion and received a

small loan through the Sandy Recovery Program to replenish inventory and make repairs and successfully reopen. But for Roni, that was just the beginning. Last year, Roni participated in Accion’s MicroConsulting program, working with a team of volunteers to transform his finances. Afterwards, he returned to Accion for a much larger loan to expand to a new location in Queens, made possible in part through the Samuel Adams Brewing the American Dream Program.

When asked what his favorite part about running his own business is, Roni doesn’t mention the bottom line. For him it’s about family. “The more I get into this business, the more I recognize how secondary profit really is and how important human relationships really are. It starts with my relationship with my father and transfers to the community. It’s a tiny restaurant, but he makes it feel like a million bucks.”

In addition to capital, Accion connects our clients to coaches and mentors thanks to the support of volunteers from The Boston Beer Company, Kate Spade, the Accion Microfinance Council and others. The Boston Beer Company provides lending capital and expert business coaching to Accion food and beverage clients through the Samuel Adams Brewing the American Dream program.

Amount Lent

Loans

Average Loan Size

Jobs Created & Sustained

Financial Education Participants

Portfolio Outstanding

Active Borrowers

Delinquency

$9,950,615

1,135

$8,767

5,000

10,156

$11,703,196

1,975

4.7%

Outcomes$8,393,923

1,165

$7,205

5,009

8,018

$10,190,918

1,833

5.1%

20142015

An additional $1.5 million dollars were lent to small business owners in 2015 over 2014!

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TitleHenry Angulo E lec t r ib ike Miami, FL

We used our first loan from Accion to open our first location. We were just starting and we needed a loan program that would allow for that. Our third location just opened up, and we’re planning our fourth location.”

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I had a degree in entrepreneurship but didn’t know where to start. I opened a bank account, and my banker pointed me to Accion for start-up capital.”

“

When you walk into Lauren’s gym, you instantly hear the buzz of people simultaneously running, jumping, swinging and flipping. After a few minutes you’ll also notice Lauren using the balance beam to teach a client how to walk, or taking time out from mat-work to focus on confidence building exercises. Lauren has been a gymnast and coach for over 15 years; today, she works with special needs clients at her gym—LEAP South Florida—to help them develop a range of skills, from body awareness and motor skills to self-confidence and teamwork.

“It’s so much more than the physical benefits. Gymnastics is 90% mental—it’s overcoming fears, tackling challenges and practicing discipline. I have one child who has been coming for two years, since she was three. When she was first diagnosed autistic, she was also mute; today she loves to help as an assistant coach and even pretends to judge competitions.”

Lauren’s loan from Accion was her first business loan. “I had a degree in entrepreneurship, but didn’t know where to start. I opened a bank account, and my banker pointed

Lauren PetrickLEAP SOUTH FLORIDAMIAMI, FL

With Accion, Change

me to Accion for start-up capital.” As a start-up, access to capital from Accion was critical. With it, she was able to open up her own gym and purchase the Olympic-standard equipment she needed to continue her work leading the Miami-Dade County Special Olympics gymnastics program. And Leap South Florida has continued to grow. She now has four staff members and a dozen volunteers, including her sister and cousin.

“Athletics has been the way that I can get through to these kids. They have a place here. They love it. It’s a fun environment. Who doesn’t love to jump on a trampoline?”

Accion’s flexible lending criteria offers products that can supportbusinesses at all stages. Businesses, like Lauren’s, with less than 2 years in operation often struggle to find capital from traditional sources. Our microloans, up to $50,000, can support these early stage businesses as well as established businesses that have been in operation much longer. Accion also offers Start-up Loans up to $10,000 designed to help new businesses with less than sixmonths in operation looking for capital to launch.

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Title2015 Impact

Loan sIn 2015, Accion disbursed $9.9 million and 1,135 loans to new and existing businesses—$1.5 million more than in 2014. We launched the SBA Community Advantage loan offering loans up to $250,000. In October, we were ranked as the best alternative lender for startup loans nationwide by Business News Daily. Our focus on service and support distinguished us among the competition.

Support In 2015, we spent 18,000 hours one-on-one with clients to talk about financing, credit development, managing cash flow and formalization—among other things. We also provided over 100 classes and webinars for clients to learn together with their peers.

Advocacy In 2015, Accion was a founding member and signatory of the Small Business Borrower’s Bill of Rights. We believe all business owners deserve an ethical borrowing experience including transparent pricing and terms, inclusive credit access and responsible products and underwriting.

StewardshipIn 2015, Accion received a 4-star rating on Charity Navigator for the third consecutive year. Only 19% of the thousands of charities rated on Charity Navigator have earned this distinction. We're proud to be recognized as an institution that values accountability and transparency, to ensure charitable support is going directly to the business owners we serve.

With Accion, Growth

Julyano Texeira grew up on a rock formation. His home in Nova Venecia, Brazil, is known for the quality of its granite. Julyano’s business—Granite Countertop Pro—is also known for the quality of their granite, which they fabricate in-house for use in private homes and commercial spaces.

When Julyano started his business it was just him and his son knocking on doors when they saw new construction, approaching contractors and visiting lumberyards. Over the years he slowly built his clientele, and today, with a team of nine “granite artists,” he acquires, treats, and installs granite fixtures, including things like kitchen countertops, fireplace surroundings, islands and more.

Even after several years of growing the business, he had a difficult time securing capital due to his lack of credit history. “I need more cash in order to keep up with the demand,” he says. “Most of my profits are reinvested in the business, but it takes time to save money to acquire the equipment I need.” Access to capital from Accion has been critical for his ongoing operations. His first loan allowed

Julyano TeixeraGRANITE COUNTERTOP PROLYNN, MA

My favorite part of being a business owner is being able to help others pursue their dreams. I’m providing a livelihood for my employees.”

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him to repair a faulty air compressor. Without being able to replace the essential tool, he would have had to wait to raise the cash, forcing him to cancel some of his contracts. He used a second loan to purchase a forklift to help keep up with growth.

With the capital provided by Accion, Julyano’s business has continued to grow rapidly, mostly through word of mouth. Putting to use the financial guidance he received from Accion, Julyano has become extremely diligent with his bookkeeping, which has helped him not only to establish credit, but also greatly improve it. “My favorite part of being a business owner is being able to help others pursue their dreams. I’m providing a livelihood for my employees.”

Accion’s microloans, ranging from $500 to $50,000, help existing businesses stabilize and grow. Loans are available for working capital, inventory purchase, equipment purchase, marketing and more. Our minimum credit score requirement is just 575 (or 0 for those with no credit history). As loans are repaid, clients not only build their businesses, but also their credit history and score.

3.7 50

95 79

23 66

Jobs created and sustained with each Accion loan

Based on the Aspen Institute’s 2015 MicroEntrepreneur survey

Average increase in credit score after a client’s first Accion loan

Borrowers who keep their businesses open after a loan from Accion

Clients who report that their business stabilizes or improves their household

Growth clients see in take-home pay after a loan with Accion

Clients who report satisfaction with income earned from their business

SUSTAINABILITY

CREDIT SCORE

HOUSEHOLD

INCOME

% %

% %

JOBS

TAKE-HOME PAY

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There are many ways to brew a good beer. You start by selecting from an assortment of hops, adding a unique combination of grains, experimenting with different yeasts and changing the fermentation time. Starting your own brewery requires a similar permutation—but some ingredients have to remain constant.

“I started brewing beer over ten years ago because, well, you know, I like to drink it. And I’ve been doing it ever since,” explained Tom Adams. After moving to Orlando from the Pacific Northwest, Tom drew on his experience and palate to brew beer on the side while working a typical 9 to 5. He had a knack for selecting the right ingredients, as evidenced by the awards he began receiving. Not one to sit back and daydream, Tom decided to take his passion full-time.

“Finding a space for a brewery can be difficult,” said Tom. “We had looked for space for probably a month. Finally, we found this space and thought, ‘let’s go for it.’” In order to renovate the space and buy industrial brewing equipment

Tom AdamsDEADLY S INS BREWINGWINTER PARK, FL

With Accion, Independence

Accion’s SBA Community Advantage loan was the only way I could pull this off on my own.”

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Tom needed financing. But, as a start-up brewery, he found that access to capital was the one ingredient that was hard to find. “We were trying to get financing and we went to three other lenders. They wouldn’t do the start-up loan we needed,” explained Tom. “Accion’s SBA Community Advantage loan was the only way I could pull this off on my own.” Tom will use his loan from Accion to open up Deadly Sins Brewing, right next to the popular 4 Rivers Smokehouse—just in time for the high point of summer.

“I’m looking forward to quitting my day job and focusing on the brewery full-time. Also, I have all these ideas for beers that I want to make, and I can’t wait to bring them to life.”

Accion launched the SBA Community Advantage loan Program in 2016 and currently offers loans up to $250,000 in Florida, Georgia, New Jersey, New York, Massachusetts, Rhode Island, New Hampshire and Connecticut. The SBA Community Advantage loan is a federally guaranteed loan from $50,000 to $250,000 with affordable interest rates typically ranging 7% to 9%—and long maturities—usually 7 to 10 years.

2015 Financial Summary

Cash and cash equivalentsCash restricted for loan fundsContributions and grants receivable, netInterest on loans receivableMicroenterprise loans receivable, netPrepaid expenses and other assetsProperty and equipment, net

TOTAL ASSETS

Accounts payable and accrued expensesOther liabilitiesNotes and recoverable grants payableSubordinated debt

TOTAL LIABILITIES

Contributions and grantsInterest on loansProgram feesInvestment incomeOther revenue

TOTAL SUPPORT & REVENUE

Program servicesLending/development servicesCommunity advantage

Total program services

Supporting servicesManagement and generalFundraising

Total supporting services

TOTAL EXPENSES

UnrestrictedTemporarily restricted

TOTAL NET ASSETS

ASSETS

LIABILITIES

NET ASSETS

TOTAL LIABILITIES & NET ASSETS

SUPPORT & REVENUE

EXPENSES

$6,241,223

$18,090,246

NET ASSETS - END OF YEAR

CHANGE IN NET ASSETSNET ASSETS - BEGINNING OF YEAR

$1,526,4804,714,743

$946,0033,768,740

$4,714,743

$14,312,477

2015

2015

2014

2014

$ 2,115,7232,173,643

2,366,091 83,123

10,704,742497,026149,898

$18,090,246

$520,280406,649

10,422,094500,000

$11,849,023

$5,973,3901,278,439

662,98826,414

274,528

$8,215,759

$5,098,521278,650

$5,377,171

$647,045665,063

$1,312,108

$6,689,279

$3,423,854 2,817,369

$6,241,223

$ 2,226,561 1,552,307

826,719 57,247

9,204,513239,686205,444

$14,312,477

$262,256319,117

7,916,3611,100,000

$9,597,734

$4,839,5081,016,783

617,7952,775

256,776

$6,733,637

$4,731,750-

$4,731,750

$678,916376,968

$1,055,884

$5,787,634

$2,317,816 2,396,927

$4,714,743

Statement of Financial Position

Statement of Activities

$6,241,223

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Thanks to Our Supporters

FUNDING PARTNERS

$500,000 AND ABOVECommunity Development Financial Institutions Fund

$200,000 —$499,999 Citi Foundation JPMorgan Chase Foundation Robin Hood Foundation Sam's Club Giving Program*TD Charitable FoundationU.S. Small Business Administration

$100,000—$199,999Bank of America Charitable Foundation The Boston Beer Company*The Clark FoundationKate Spade & Company FoundationThe New York City CouncilPIMCO FoundationWeil, Gotshal & Manges, LLPThe Wells Fargo Foundation William Randolph Hearst Foundation

$50,000—$99,999Anonymous Foundation Bank UnitedBernard F. and Alva B. Gimbel Foundation Capital OneEmpire State Development CorporationThe Hartford*Massachusetts Growth Capital CorporationMorgan Stanley

$25,000—$49,999Pritchard Charitable TrustSantander BankThe Tory Burch Foundation

$10,000—$24,999Blue Hills Bank Charitable Foundation CNBC*Comerica Charitable FoundationEdward and Ellen Roche Relief FoundationThe Hispanic FederationHSBC Bank USA, N.A.Hyde and Watson FoundationMercantil CommercebankRita J. and Stanley H. Kaplan Family FoundationThe MUFG Foundation, Inc. W.K. Kellogg Foundation

$5,000—$9,999Paul and Edith Babson FoundationBB&TCity National BankEastern Bank Charitable Foundation First Republic BankHab BankMoses Kimball FundMcGraw-Hill Companies, Inc.Popular Community Bank Foundation Next Generation Fund of the Roy A. Hunt FoundationWomen's Fund of Long Island

$2,500—$4,999Astoria BankBTQ FinancialCredit Suisse Americas FoundationFriedman Family FoundationGoldman SachsNew York Community Bank Foundation Popular Community Bank FoundationSignature BankTiaa Trust Company, FSB

$1,000—$2,499American Express CompanyBank LeumiBoston Private Bank & Trust CompanyCombined Federal Campaign

INDIVIDUAL DONORS

CEO CIRCLE ($25,000+)Faye M. Chandler TrustThe O'Shea Family Foundation

INNOVATOR ($10,000—$24,999)AnonymousEva GregerJonah and Lynn KaufmanRita J. and Stanley H. Kaplan Family Foundation

JOB CREATOR ($5,000—$9,999)Sherman CarllPeter CuretonMichael HenryMoses Kimball FundCheryl Myers and Steve Stockton**Patrick Peterson and Shirley TsaiNext Generation Fund of the Roy A. Hunt FoundationEdward SeebolDoug Urquhart

ACCELERATOR ($2,500—$4,999)Benjamin and Susan BaxtVictoria Felix and John DeWeesFriedman Family FoundationHenry and Catherine LanierThomas and Susana McDermottMichael and Anne Marie MleckoJanet and Malcolm ThompsonPamela and Thomas Timbie

ACCIONISTA ($1,000—$2,499)Linda K. AlbornozKathryn and Thomas BattilloRick CaleroAlka and Siddhartha DalalAnne E. DodsonPablo FernandezColleen GalvinKimberly JohnsonKristin KraskaDennis LagueuxMark MeachenMia and Stephen ParkerJacqueline and Jean Paul PlumezElizabeth PughPaul QuinteroLisa ServonTherenah SesayCristina Shapiro**Gail SmithTyler Van GundyAshley Wessier and Sherrill Lane

$500—$999Eugenius AngKevin BoesWilliam BrownSeena DundesWilliam FentonJessica GageLaura Giadorou-KochLuke and Holly Hayden Sudhir JainNavdeep KheraAna Hammock IsenMichael Lake**James Long and Marsha ScottAlex LueMelinda A. MarbesRobin PaltisBryce RichardsBarbara RomaniAleksey Schukin**Thomas ShattanPeggy SousaHarvey StoneDiana Waterbury

$100—$499Anita Barker WeeksDominic Benigno and Devin TaylorJohn BennettMelanie BensonShirley and Timothy BlanckeMartin and Lynn BloomNeil BossGraziella BrunettiAllison BurgerJane CampbellAnne and Joseph CeramiRodrigo CerveiraEric and Christine CodyJerry and B. Lynn CranePreeyel Dalal and Daniel KaplanJessica Daniels and Paul BlackborowEstelle DischPaul DominguezSusan DominguezLisa DundasFabiana EstradaAnne FishKevin FisherTodd N. Flolo**Erica FrenkelEmily GordonAnne Haines and Jerome YatskowitzDavid HanoldPaul Hunt**Merle KailasMark and Peggy KaminskyErin KeysGordi KheraPeter KimballDavid KnechelMartin KozakLaura Kozien and Will LevithKimberly KrollWendy KwanTerilynn LangsevAlvaro LimaSuzanne and Paul LipskyTom ManningVeronique MarcusJavier Marin and Carolina OlavarriaOdalis MartinezAl Martinez-FontsMark McLoughlinKathleen McQuownMichael MyersRoshelle NagarDebbie and David ParsonsLibby ParsonsSteven PlumpBill PopeleskiLeslie PuthAlicia QuinnPaul Redstone

Matthew RevereNorman and Susan RoscoeGulia SagynovaOlivia SchaefferMark SchonbergerBrian SegelWynn SenningAnja ShaferJulian SheffieldFawn SheltonNancy Sherwood TruittLinda E. SindelarRuth SlaterJohanna StoneMichael Temlin**Leo TocaMihai VrasmasuJordan VanceAllison VanderburgAnita and James WessierKatarzyna WitkowskiBernhardt WrubleJames WongJenny YescherChloe ZhuTina Zhu

*In partnership with Accion, The U.S. Network**Monthly Sustainers

THE JANET THOMSPON SOCIETY

The Janet Thompson Society honors and recognizes those loyal supporters who are helping to ensure families have access to the financial tools they need to achieve economic security through planned giving.

Janet ThompsonFaye M. Chandler

INVESTING PARTNERSJoel AbramsBank of AmericaRichard BermanBoston Impact InitiativeCommunity Development Financial Institutions FundFaye M. Chandler TrustCitizens BankCity National BankJoseph P. and Patricia K. CrowleyEmpire State Development CorporationWalter James HallKaruna TrustKatherine Perls TrustKiva Microloan FundAudrey LarrimerLynne M. Gerber TrustPerls Foundation InvestmentsErich and Hannah Sachs FoundationSchool Sisters of Notre DameShield-Ayres FoundationSociety of Catholic Medical MissionariesTD BankTochri FundU.S. Small Business AdministrationU.S. Trust CompanyJonathan WoodbridgeWoodlands Investment Management

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NEW ENGLAND ADVISORY BOARD AS OF APRIL 1, 2016

ALVARO LIMAChairDirector of Research, Boston Redevelopment Authority

ANNE CERAMIRetail Market Manager, TD Bank

ANNA E. DODSON Partner, Goodwin Procter, LLP

PABLO FERNANDEZFounder, ClicCars.com

KEVIN FISHERPresident, Dartmouth Research and Consulting

EVA GREGER Managing Director, GMO Renewable Resources, LLC

MICHAEL LAKE President & CEO, Leading Cities

JAVIER MARIN Director, WCEA Boston

JOHANNA STONE Vice President Community Development Lending, Eastern Bank

PENNY WEEKSRegional Director, Private Banking, BNY Mellon

FLORIDA ADVISORY BOARD AS OF APRIL 1, 2016

ODALIS MARTINEZChair SVP, Small Business Banker Manager Miami-Dade and Monroe Counties, Bank of America

KARLA GOTTLIEBDirector of Community Initiatives and Compliance, Opa-Locka Community Development Corporation

PETER SALASVP Regional Specialty Finance Sales Manager, Chase Bank

PAUL HUNTFaculty, Florida International University School of Social Work

CAROL MOLNARVice President, Florida CRA Manager, Comerica Bank

VIVIAN SIMOData Integrity Manager, Alpha and Omega Church

LEO TOCA Vice President Senior Community Development Officer, Wells Fargo

LAURA TROSCLAIR Domestic Retail Banking Manager, EVP, Mercantil Commercebank

MIHAI VRASMASU Associate, Shook, Hardy & Bacon, LLP

MICROFINANCE LEADERSHIP COUNCIL AS OF APRIL 1, 2016

CHLOE ZHUChairAssociate, High Yield Healthcare Research, JPMorgan Chase & Co.

IAN BOMBERGAssociate, Investment & Corporate Banking, BMO

DYLAN CHUNInvestment Strategist, US Trust

HEATHER ENGELAnalyst, Credit Suisse

CAROLANNE FRIEDAssociate, A.T. Kearney

EMILY GORDONBusiness Analytics Manager, Catchafire.org

ADITI KAMDARSales Manager, Fundera

NAVDEEP KHERAAssociate Analyst, NERA Economic Consulting

WENDY KWANActuarial Consultant, Mercer

RONG PANGInvestment Banking Analyst, JPMorgan Chase & Co.

ERIN ROWEBusiness Analyst, Deloitte Consulting

ALEKSEY SCHUKINL/S Equity Analyst, Credit Suisse Asset Management

MATTEO TINARIStrategy Associate, JPMorgan Chase & Co.

JENNY YESCHERAnalyst, Investment Banking, JPMorgan Chase & Co.

HOWARD YUInvestment Analyst, Portfolio Management, Robert Wood Johnson Foundation

STAFF AS OF APRIL 1, 2016

PAUL QUINTEROCEO

J. NEIL BOSSChief Operating Officer

ANA HAMMOCK ISEN Vice President of Lending

ASHLEY WESSIERVice President of Development & Communications

FATIHA AINANEInternet Loan Consultant

KRISTOPHER BUDI Manager of Lending, Florida

JUAN CARLOS CABEZA Loan Consultant

JUAN CASTELLO Loan Consultant

RODRIGO CERVEIRA Director of Lending, Central and North Florida

ADRIANA CONTRERAS Loan Consultant II

NEYSA CRUCETA Intake Specialist

REY CRUZClient Risk & Recovery Manager

KETTY DE LA CRUZ Quality Control & Customer Service

DANIEL DELGADO AGUIRRE Intake Manager

CARMEN DUPERONManager, Client Services

DORAL ESTEVEZ Receptionist & Administrative Assistant

FABIANA ESTRADA Director of Lending, South Florida

KENNETH FORD Database Administrator and Programmer

CHRISTINA GARABITO Asset Recovery Assistant

JOHN HICKLEDirector of SBA Lending

MATTHEW HOGEDevelopment Associate

ANDREA IERACELending Manager, New England

EVELIN LIBMAN Senior Loan Consultant

VERONIQUE MARCUSCredit Risk Manager

SIMMONE MATHERSONAdministrative Assistant to CEO

KEVIN MCLOUGHLIN Underwriter

ALANA MORRISLoan Consultant

WILLIAM NERIClient Services Coordinator

MARTIN NOWAKLoan Consultant

SONIA PARDOPayment Support Associate

LEANDRO PEREIRA FREIRESenior Loan Consultant

LILLIAN PEREZDirector of Human Resources

VILMARYS PICHARDODevelopment Associate

JOANNA RAY Senior Underwriter

MATTHEW REVERE Manager of Lending, New York & New Jersey

DANA RICHARDSONUnderwriting Assistant

VICTORIA RICHARDSONDevelopment & Communications Manager

MELISSA ROBERTSBusiness Operations Manager

STEPHANY ROJO Loan Consultant II

JENNIFER SPAZIANOVice President of Business Development

SAMUEL STRATTON Senior Underwriter

KATHY TCHERNYCHOVA Loan Consultant

JESSICA VASQUEZ-MOLINAInternet Loan Consultant II

SIMON VERKHOVSKYTechnology & Network Manager

LAUREN YOTHERS Marketing Manager

ACCION NATIONAL FIDUCIARY BOARD OF DIRECTORS AS OF APRIL 1, 2016

DENNIS LAGUEUX Chair SVP, Community Development, TD Bank

THOMAS MCDERMOTTVice Chair Founding Partner, Money Access Financial, LLC

DOUGLAS URQUHARTSecretaryPartner, Law firm, Weil, Gotshal & Manges, LLP

KIMBERLY JOHNSONTreasurerPartner, KPMG, LLP

KEVIN BOESPresident & CEO, New Markets Support Company

WILLIAM BROWNExecutive Vice President, Head of US Network, HSBC

RICK CALEROEVP, Consumer Banking, Umpqua Financial Holdings

PETER CURETONProgram Manager, Investment Banking Global Project Services, Credit Suisse

WILLIAM FENTONSVP Market Manager, Community Development, Bank of America

COLLEEN GALVINSenior Vice President, Community Development, Citi

MICHAEL HENRYPrincipal, KPMG, LLP

SUDHIR JAINManaging Director, Citi

LAURA MILLERPresident, Ink Business Card, Chase

MIA PARKERVice President, Goldman Sachs Foundation

LISA SERVONProfessor, Milano The New School for Management & Urban Policy

CRISTINA SHAPIRO Vice President, Urban Investment Group, Goldman Sachs

GAIL SMITHPublishing & Managing Director, Impacto Latin News, Inc.

TYLER VAN GUNDYVice President, Forsyth Street Advisors

Our Staff, Board Members & Volunteers

KEVIN ZHANGHead of Product, Fundera

ANGEL B. ZHUDirector & Actuary, Prudential Financial

TINA ZHU Investment Banking Analyst, Nomura

2015 VOLUNTEERS

AKILA ANANTH

VICKTORIA CHERNYAK

ZAID DANNY

GUILLAUME DE BOURAYNE

CHAOJUN ROSS DONG

MOLLY R. DONOVAN

ALBERTO GALINDO

KEILEY GASTON

HAIBEI JU

PARAMJOT KAUR

DANIEL KRISKE

ANU V. MANNE

JULIO MARCONE

LUÃ MARTINS

ADRIAN MCDERMOTT

SIMON F. MORALES

MARCO A. MORENO

KENIA PALMA

MATHILDE PAYS

ALEX PIGATTO

SANDRA POSTERNAK

ZOHEB REHMAN

NICHOLAS ROBALINO

CAROLINA M. ROMERO

KEVIN SANCHEZ

TANVEER SINGH

ERIC SLOTSVE

MARA TALAN

CHRISTINA VRACHNOS

SHAIROZE WALJI

EMMA YEE

YANNAN WENDY ZHU

15 W W W.ACCIONEAST.ORG

Accion East, Inc.(866) 245-0783www.accioneast.org

New York80 Maiden Lane, Suite 903New York, NY 10038

Miami2828 Coral Way, Suite 200Coral Gables, FL 33145

Orlando3201 E. Colonial Drive, Suite A-20Orlando, FL 32803

New England10 Fawcett Street, Suite 204Cambridge, MA 02138

Accion East serves small businesses in forty-two states including: Alabama, Alaska, Arkansas, California (north of Orange and San Bernardino County), Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Virginia, Washington, West Virginia, Wisconsin and Wyoming, as well as Washington DC and Puerto Rico.

Photo CreditsCover Page, Pages 5,6,8, 10: Michael Mendonca

Page 4: Damon Jacoby