Accion changes name to DreamSpring

DENVER — Accion, a nonprofit organization that has helped more than 9,000 entrepreneurs and small businesses with microloans and small business loans, is changing its name to DreamSpring.

The nonprofit has received funding from 1st National Bank of Omaha, among others.

“Our new name, which coincides with 2019 being our 25th anniversary, celebrates and honors the vitality, hope, renewal and opportunity entrepreneurs bring to the communities around them.  The financial and social capital we provide help spring business dreams into action. Small businesses vitalize communities and propel the economy,” Anne Haines, president/CEO of Accion serving Arizona, Colorado, Nevada, New Mexico and Texas, said in a statement announcing the name change. “Our new name shines a light on our mission, impact goals and belief in the power of entrepreneurship,” said Haines.

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The organization’s independent nonprofit status, staff, management, board, governance structure, financial stewardship, offices and commitment to clients and partners remain unchanged.

Since its founding in Albuquerque in 1994, the organization has provided more than 14,000 loans totaling over $142 million to entrepreneurs in 600 Arizona, Colorado, Nevada, New Mexico and Texas communities. The small businesses funded by the organization have created or sustained an estimated 20,000 jobs. In 2018, 90 percent of loans issued by the organization went to low-to-moderate income, minority and/or women entrepreneurs.

The nonprofit organization is supported by grants and donations from individuals, foundations, and businesses that want to help entrepreneurs realize their dreams and be catalysts for positive economic and social change, the organization said.