Microloan charity will use funds to combat precarious employment and improve livelihoods.
Toronto (September 21, 2016). ACCESS Community Capital Fund (ACCESS) has announced receipt of a donation of $100,000 over three years from Canadian Imperial Bank of Commerce (CIBC). ACCESS will use the funds to help even more low-income people improve their livelihoods and attain financial security. The cheque presentation was made by John Ermel, District Vice President, CIBC, at ACCESS' annual general meeting, in front of an audience of its members and stakeholders.
“This donation will allow us to serve more clients and improve the services that we provide”, said Michael Sidford, ACCESS board chair. “With it, we'll be able to continue our evolution, and reach even more newcomers who want to expand their small businesses. We help those who have the know-how but don't have collateral or a credit history that would qualify them for a traditional financial institution's loan. That’s where ACCESS can help.”
Executive Director Mona ElSayeh said, "ACCESS continues to diversify our offerings so we can provide even more loans for people in different circumstances. A new initiative is to fund the upgrade of employment skills. We recently had a client who applied for our new product, and within three months was able to get his DZ truck driver’s license that allowed him to triple his income.”
“CIBC is proud to support ACCESS in helping people establish businesses and enhance their employment opportunities,” said Scott Wilson, Managing Director. “We care about the communities where we live and work, and ACCESS plays an important role in making our communities stronger right across the region. We've seen how the microloans provided have a big impact on people’s lives.”
About ACCESS: Established in 1999, ACCESS Community Capital Fund (ACCESS) provides microloans and support to emerging low-income entrepreneurs and individuals seeking to improve their employability. Clients include newcomers, youth, women, and others who face financial barriers because of precarious employment or lack of collateral and credit history.
Contact: Mona ElSayeh, Executive Director