Opportunity Fund Announces Ambitious Plan to Dramatically Increase Financial Inclusion and Small Businesses’ Access to CreditPosted on Apr 26, 2019 by Ashlyn Smith
We’re proud to announce our new strategic plan where we commit to lending $1.2 billion to small business owners across the country and investing $174 million in community real estate projects by 2023. Our goal is a transformational one, providing a pathway to prosperity for 30,000 hard working entrepreneurs and, through our New Markets Tax Credit program, improving the lives of 60,000 low-income families.
Who will our loans serve?
- 71% low- and moderate-income
- 27% women
- 89% ethnic minorities
What will it take for us to get there?
- $240 million in earned revenue
- $47 million in philanthropic support
- $100 million in new loan capital
The result? In the next five years alone, we will fund three times as many businesses as we did in more than two decades. The investment will support jobs for 100,000 workers in California and across the US. In addition to the 30,000 small business owners and the 60,000 families who will benefit, this investment will create a ripple effect by generating over $5.9 billion in economic growth in low-income communities across the nation.
Read more about this exciting news at www.opportunityfund.org/strategicplan.