By San Antonio Business Journal

ACCION Texas Inc. has awarded Lisa McGrath, owner of Tails Natural Pet Market, its first loan from the lenderâ¿¿s new ACCION Green Loan Fund.

ACCION approved a $12,000 micro-loan to support McGrathâ¿¿s small business.

Tails Natural Pet Market stocks natural, eco-friendly pet products on store shelves. Products include organic pet food, chew toys that are made from recycled fabric and products that are packaged in recycled cardboard. Tails also donates 10 percent of its credit card fees to San Antonioâ¿¿s Animal Area Partners for Animal Welfare. The store is located in the Blue Star Arts Complex in San Antonioâ¿¿s Southtown neighborhood.

ACCION established the green loan fund after receiving $1 million in investment capital from CPS Energyâ¿¿s Residential Energy Assistance Partnership (REAP). Proceeds from the green loan fund will be used to generate a return for the REAP program. REAP helps needy San Antonio families pay their utility bills.

Business owners that are interested in applying for green loans must incorporate environmentally responsible practices in their business operations. The business can either reduce energy demand or costs; use renewable energy; improve energy efficiency at buildings; or use emerging technology to reduce the companyâ¿¿s impact on the environment.

San Antonio-based ACCION Texas provides capital to entrepreneurs who do not have access to traditional commercial loans. The company has the nationâ¿¿s largest microlender portfolio. Since its inception in 1994, ACCION has made more than 12,000 loans totaling $112 million.

Receive free daily breaking business news direct to your inbox or mobile device. Click on this link to sign up.

Copyright 2011 American City Business Journals
Copyright 2010