Founded in 2009 by Accion, Accion Microfinance China (AMC) delivers working-capital and fixed-asset loans to urban and rural microentrepreneurs and small and medium-sized enterprises in the Chifeng region. Loan amounts start at RMB 1,000 and the institution focuses on previously underserved MSME segments. Since inception AMC has disbursed RMB 157m in loans to almost 2,000 clients, with an average outstanding loan of RMB 55,000. The organization has invested in staff training and built a local team of 37 full-time employees to support its clients. AMC’s market opportunity is framed by gaps in formal MSME financing in China and aligns with Chinese government efforts to address MSME funding challenges. Accion remains the operating partner of AMC following the new investment. ACCION Microfinance China (AMC) is a Chinese affiliate launched in December 2009 to expand financial access in Chifeng, Inner Mongolia. AMC provides working-capital and fixed-asset loans to thousands of urban and rural small and medium-sized enterprises. The organization focuses on serving previously underserved communities and local SMEs. IFC previously signed a cooperation agreement with ACCION to provide up to $1m to fund a three-year technical assistance program for AMC. The IFC investment announced is intended to strengthen AMC's operations. The articles do not report revenue figures or other financial metrics beyond the investment amount and the program financing.

Total raised

$23M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2012