Accompany Capital, formerly known as the Business Center for New Americans, is a New York-based loan and financial services provider servicing immigrants and refugees. ¹ The organization offers a variety of loans and financial service programming to support immigrant, refugee, and women business ownership and financial independence. ^{2 3}

History and Activities

Accompany Capital, formerly known as the Business Center for New Americans, is a New York-based loan and financial services provider servicing immigrants and refugees. Business Center for New Americans was founded in 1997 as a part of the New York Association for New Americans, a World War II-era organization focused on resettling refugees. ⁴ The organization was granted tax-exempt status as Accompany Capital in 2009. ⁵

Accompany Capital’s main service is to provide small business loans, credit building loans, microloans, and revolving lines of credit to immigrants and refugees, especially those who desire to start a small business. ⁶

Accompany Capital’s small business loans range from $75,000 to $350,000 and are available for small businesses in the New York City region. Its small business loans are guaranteed by the Small Business Administration. Accompany Capital offers credit enhancement loans of up to $2,000 coupled with workshops to help customers improve their credit scores and understand their credit reports. Accompany Capital’s microloans range from $1,000 to $50,000 with terms of up to three years to help business owners launch, expand business, or refinance an existing loan. ⁷

In addition to loans, Accompany Capital also provides financial support services and other programming to its customers. These include resources to support women entrepreneurs; Individual Development Accounts, a specialized savings program for refugees and asylum seekers funded by the federal Office of Refugee Resettlement; a home-buyer savings and education program to assist first-time homebuyers; a marketplace of businesses supported by Accompany Capital; Accompany Capital Voices, a program to elevate the stories of women entrepreneurs; and the Immigrant Heritage Week Awards commemorating April 17, 1907, when more immigrants arrived at Ellis Island than at any other day in U.S. history. ⁸

According to tax filings, Accompany Capital awarded nearly $6 million in 204 small business loans to immigrant-, refugee-, and women-owned businesses in 2021. That year the organization claims to have helped entrepreneurs start 26 businesses, provided financial support for 467 businesses, and helped create 141 jobs with the support of its loans. Accompany Capital also claims to have provided over 5,600 hours of financial training and assistance to nearly 700 clients in FY2022 and to have worked with clients from 55 countries that year. In total, Capital Credit spend $2,151,744 on it loans and financial support services in FY2022. ⁹

As of December 31, 2023, Accompany Capital claims to have provided $60,566,698 in small business loans. ¹⁰

People

The founder and executive director of Accompany Capital is Yanki Tshering. On LinkedIn, Tshering reports founding Accompany Capital, then Business Center for New Americans, in 1996, one year before the organization’s official founding date. While working as the executive director of Accompany Capital, Tshering is also a board member for several financial and economic advisory institutions. In January 2020, Tshering became a member of the National Advisory Committee at International Rescue Committee’s Center for Economic Opportunity. In May 2020, Tshering became a board member for Credit Builders Alliance. In 2018, Tshering became an advisory board member for the New York Economic Development Corporation. In January 2015, Tshering became a board member for the New York State CDFI Coalition. ¹¹

1. “Accompany Capital.” GuideStar. Accessed March 7, 2024. https://www.guidestar.org/profile/81-0584343.
2. “Loans.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/loans/.
3. “Programs and Resources.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/programs-resources/.
4. “About Us.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/about-us/
5. “Accompany Capital.” GuideStar. Accessed March 7, 2024. https://www.guidestar.org/profile/81-0584343.
6. “Loans.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/loans/.
7. “Loans.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/loans/.
8. “Programs and Resources.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/programs-resources/.
9. Accompany Capital Inc. Return of an Organization Exempt From Income Tax (Form 990). 2021.
10. “By the Numbers.” Accompany Capital. Accessed March 7, 2024. https://accompanycapital.org/impact/by-the-numbers/.
11. “Yanki Tshering.” LinkedIn. Accessed March 7, 2024. https://www.linkedin.com/in/yanki-tshering/.