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Aug01

Cheers to our Impact in Fiscal Year 2017!

Posted on Aug 01, 2017 by Eric Weaver

 

2017 impat reportfy17 clients

 

“Opportunity Fund believed in us. They helped us open our 6th location and hire our 80th employee. The more we grow, the more impact we have in the community.”                 

                                                     - Jimmy Orozco, owner of Iguanas Burritozilla in San Jose.

 

Thanks to your generous support, we helped thousands of enterprising individuals, like Jimmy, make their dreams a reality in the 2017 fiscal year. Not only did Opportunity Fund help Jimmy reach a milestone, Jimmy also helped us reach one of ours—he received our 10,000th loan!

 

Your donation helped us break records in 2017! We invested over $66 million in loans and savings incentives and directly served more than 5,800 working families. Just in Southern California, we invested $39 million in small business loans and directly served more than 2,200 entrepreneurs. We expanded our lending online to 12 new states, through a ground-breaking partnership with Lending Club, while deepening our impact in California. And we made investments in community real estate that will serve thousands of people in the coming years. All of this is part of our new strategic plan to help 50,000 people by investing $500,000,000 in underserved communities by 2020. As we embark on our next phase of growth, Opportunity Fund will welcome a new CEO. I will remain active as a member of Opportunity Fund’s leadership and am excited for where this change will take us.

 

While we celebrate our accomplishments, we also recognize our challenges. This year marked record enrollment for our savings program—502 new savers, the most ever!—but it also marked the end of new enrollment for this high-impact program, as government funding for the program was cut. We will continue to support our active savers until they reach their savings goals and intend to stay committed to investing in education in the future.

 

fy17 impact report one-pager photoEach client you helped us serve this year has a story, like Jimmy’s, of lacking the resources—but not the resolve—to get ahead. These are people like Hasani and Ruben from San Diego, who needed more hands at their window cleaning business and used their loan to hire four new employees. Or Cindy from San Francisco, who used her savings to become a first-generation college graduate from U.C. Davis and now plans to use her degree to work in affordable housing.

 

I'm proud of this organization and thankful for your support. I hope you will enjoy reading this fiscal year’s results, and learning more about what we achieved together!

 

Onward,

Eric Weaver, Founder & CEO

 



 

 

 

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