The Michael Scott Mater Foundation said it has partnered with Accion USA to provide micro loans in Charlotte and throughout North Carolina.
The partnership said it is focused on low- and moderate-income individuals, primarily minorities, who are having difficulty getting small-business loans thanks to stiffer lending requirements.
Through MSMF’s Green Micro Loan Initiative, new and existing small-business owners and entrepreneurs can receive loans from $500 to $50,000 and business training, coaching and financial literacy.
MSMF is a nonprofit that aims to build sustainable communities, according to a press release.
Accion is a nonprofit and the largest microfinance institution in the U.S., the press release says.
The partnership aims to assist 3,000 entrepreneurs in the first three years.