Business Services Industry

Federal Reserve Chairman Ben Bernanke to Speak in San Antonio November 6

Business Wire, Oct 4, 2007

ACCION Texas Hosts Two-Day Summit Spotlighting the Growing Role of Microenterprise in U.S. Economic Development

SAN ANTONIO -- ACCION Texas, recognized as one of the leading non-profit microfinance organizations in the nation, will host the first-ever Summit on Microfinance in the U.S. November 6-7, 2007 at the Henry B. Gonzalez Convention Center in San Antonio.

Federal Reserve Chairman Ben Bernanke will deliver the luncheon keynote address at noon Tuesday, November 6. He will stress the increasing importance of microfinance and microenterprise to the national economy. This is the first time in nearly 20 years that a Federal Reserve chairman has visited the Alamo City.

The summit will bring together nationally recognized experts to discuss the ability of microenterprise to create and maintain wealth for low-income families and communities. In addition to Bernanke, other confirmed speakers include U.S. Treasurer Anna Cabral; Robert Annibale, Citigroup's global director of microfinance; Michael Barrera, president and CEO of the U.S. Hispanic Chamber of Commerce; Mark Pinsky, president and CEO of Opportunity Finance Network; and Lynda de la Vina, dean of the College of Business at the University of Texas at San Antonio.

"Access to capital for small business is a critical component in community development and neighborhood revitalization in Texas and throughout the country," said Ken Olson, chairman of the board of ACCION Texas and vice president at CITI, the summit's presenting sponsor. "Microfinance is a proven and effective tool for getting capital to entrepreneurs. The summit will highlight the great work currently underway and more importantly, bring together leaders to discuss ways to expand the impact of microfinance in the United States."

ACCION Texas has the largest microloan portfolio in the United States. It provides credit to small businesses without access to loans from commercial sources. Through its services, ACCION Texas helps entrepreneurs strengthen their businesses, stabilize and increase their incomes, create additional employment and contribute to the economic revitalization of their communities. Through its twelve offices in ten Texas cities, the organization serves the entire state.

"ACCION Texas helps low-income people start or grow a business and develop financial knowledge and skills, which, in turn, builds assets and long-term financial stability. We invest in people by giving them a hand up, not a handout," said Janie Barrera, the organization's founding president and CEO.

Additional information on the summit and ACCION is available online at www.acciontexas.org/Summit/index.html.>