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Tiny Business Card (4/23/01)
FULL STORY:
Any business, any size can now plasticize. American Express has introduced
the
Community Business Credit Card for very small businesses. The new card
contributes one percent of spending to select microenterprise development
organizations that provide loans and technical assistance to microbusinesses.
"Microenterprises" are businesses with fewer than five employees and capital
needs of less than $35,000 a year. The new AmEx credit card has no annual fee
and a 3.9% six-month intro rate followed by a prime +5.99% APR. AmEx has
signed agreements with 11 organizations to market the new card to their
members
and to raise the awareness of microenterprise development. AmEx has also
engaged three non-profit, national organizations as partners in the Community
Business program including: ACCION, Association for Enterprise Opportunity,
and
Count-Me-In for Women's Economic Independence.
ACCION helps low-income, self-employed people work their way up the economic
ladder with dignity and pride. In the United States and Latin America, ACCION
provides small loans and training to these hard working entrepreneurs - corner
grocers, seamstresses, childcare providers -- to help them grow their small
businesses and improve the lives of their families. ACCION USA lends in New
York City, greater Chicago, Atlanta, throughout Texas and New Mexico and in
San
Diego. Seventy-five percent of U.S. clients are
Hispanic. (www.accion.org)
AEO provides its members with a forum, information and a voice to promote
enterprise opportunity for people and communities with limited access to
economic resources. AEO will be distributing funds from the Community
Business
program to eight AEO member groups that will use the funds to serve their
clients.
(www.microenterpriseworks.org)
Count - Me - In for Women's Economic Independence serves women of all
ages,
races and religious groups across the United States. This online micro-lender
provides business loans, training and mentoring to women struggling to start
their own businesses, enabling them to support themselves and their families.
(www.count-me-in.org)
American Express has also created a new web site dedicated to Community
Business
(www.americanexpress.com/communitybusiness) where visitors
will find information about microenterprise, about the recipient organizations
and marketing supporters of Community Business, as well as a pressroom
providing news and information.
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