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More loan availability for non-profits

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Mark Medley was working with a business consultant to recover from identity theft when he heard about Accion New Mexico – Arizona – Colorado.
 What Medley learned while trying to repair his credit prompted him to start a nonprofit — ID Theft Resolutions — to help others protect themselves from identity thieves and to rebound as quickly and completely as possible if their efforts fail.
Medley got a loan from Accion to help him get the nonprofit going after obtaining his designation as a 501c(3) nonprofit. Accion offers loans as small as $200 and as large as $300,000 to people who might otherwise be turned down by lenders because they are a startup or have credit problems.
Medley qualified in both cases: His credit score was destroyed by identity theft and his nonprofit was the equivalent of a startup.


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