FOR IMMEDIATE RELEASE PRESS RELEASE 03/21/2011

Press contact: Public Relations Department 866-576-5222, ext. 4

Accin Partners with The National Puerto Rican Chamber of Commerce to Offer Much Needed Micro-loans to Minority Small Businesses
March 21, 2011, Washington, D.C. In an effort to demonstrate its continued focus on small business development and expansion, The National Puerto Rican Chamber of Commerce has partnered with one of the worlds largest and most-respected micro-lenders, Accin, to offer smaller loans to entrepreneurs who otherwise would not be able to obtain traditional business financing. Although many economists have suggested that the recent recession has ended, both the U.S. and Puerto Rican economies still maintain record unemployment levels, very low consumer confidence, an increase in inflation, and a lack of capital for business expansion. Unemployment still hovers around 9% for the general population, 16% for minorities, and even higher within Puerto Rico. Business expansion is the most realistic and currently tangible means for enticing economic growth. Comparatively speaking, small businesses produce a far greater increase in employment than even the largest corporations. Combined with the fact that over 99% of all businesses in the U.S. are small businesses, and minority small businesses are started at a rate more than 50% greater than other businesses, one can see why it is so important that that we focus on this sectors growth to change our dismal unemployment numbers, says Justin Velez-Hagan, National Executive Director of the NPR Chamber. In order to promote the viable and successful expansion of small businesses within minority communities, The National Puerto Rican Chamber of Commerce will now offer free loan assistance across the U.S., in combination with Accin, to borrowers who cannot find capital through traditional lenders due to their personal economic circumstances, lack of experience, or amount of capital requested. In combination with valuable and free small business services, the impact amongst its members and within minority communities should be substantial. For more information email Loans@NPRChamber.org. Accin is committed to bringing affordable microfinance solutions to small business owners who need them by empowering low-to-moderate income business owners through access to capital and financial education. Accion was founded in 1961 and has become one of the premier micro-lenders in the world. You can find more information at www.AccionUSA.org or www.Accion.org or by calling (617) 625-7080. The National Puerto Rican Chamber of Commerce is a non-profit organization created to promote entrepreneurship, economic development, and economic freedom amongst Puerto Ricans and other minorities throughout the U.S. Feel free to contact the Chamber's Public Relations Department at 866-572-5222, ext. 4 or via email: PublicRelations@NPRChamber.org.
www.NPRChamber.org ###