Release Date: 03.20.2017 | Location: All Metro Atlanta | Organization: Access to Capital for Entrepreneurs (ACE)
Access to Capital for Entrepreneurs (ACE)
The mission of Access to Capital for Entrepreneurs, Inc. (ACE) is to provide community economic development to underserved people and communities.
Whether you are interested in building your business, attending an educational event, or you would like to support ACE’s mission to increase access to economic opportunity for small business owners and contribute to improved economic health in vulnerable communities, ACE is a nonprofit organization that is dedicated to helping its borrowers create and grow sustainable businesses which generate jobs.
In 1997, CEO Grace Fricks founded ACE’s lending program in response to the lack of available start-up capital for North Georgia Technical College graduates wanting to start businesses. Fricks and Kim Foster, former ACE board member, decided to create a loan fund to serve North Georgia with financial backing from the Appalachian Regional Commission. Presently, ACE serves 68 counties, including all of Metropolitan Atlanta and North Georgia.
Since 2000, ACE has made more than $37 million in loans, to 725 businesses, which enabled the creation or retention of more than 6,200 jobs.
"The vision for ACE is that anyone in Georgia who has the desire — and, most importantly, the drive — to own their own business should have the economic opportunity to do so."
-Grace Fricks, President and CEO of Access to Capital for Entrepreneurs Inc.
Facts about ACE Customers:
- 84% have businesses in Metro Atlanta
- 89% are from underserved populations
- 43% of loan funds provided to women business owners
- 63% of loan funds provided to African American small business owners
- 9% of loan funds provided to Hispanic small business owners
Recently named as the U.S. Small Business Administration’s Georgia Office as the Financial Services Champion of the Year, ACE is an SBA Microloan Intermediary, a USDA Intermediary Relender and a certified Community Development Financial Institution (CDFI).
If you have a vision for your business, ACE can help you see it through. Click here to get a feeling for Who ACE Serves.
UPCOMING ACE EVENTS
ACE distinguishes itself from other lenders with their Business Advisory Services. [Learn More]
As a certified nonprofit Community Development Financial Institution (CDFI), ACE keeps its loans fairly priced, affordable and accessible. And their clients usually prove dependable – this year’s repayment rate stands at 98%. However, interest on these loans only covers 60% of the costs of providing critical services to their clients. This is why ACE relies on the philanthropic support of corporations, foundations, and individuals, to help them provide the support their clients need to succeed.
Access to Capital for Entrepreneurs (ACE) is moving the needle toward greater opportunity for small businesses owners, one client at a time. While Georgia ranks among the highest in the US in the rate of growth in diverse and women-owned small businesses, these entrepreneurs have the hardest time getting access to the capital and services they need.
Last year, 89% of ACE’s loans were provided to members of under-served populations, predominately low-to-moderate income, African American, Hispanic, and/or women-owned businesses.
Contact Name: Sandy Headley, Vice President
Company: Access to Capital for Entrepreneurs, Inc.