April was a record month at Opportunity Fund. We made 104 loans to small business owners throughout California, lending a total of $1,559,424. To put that in perspective, during the entire year of 2009 we made 151 loans and lent out $1,093,307.
How did we go from lending $1 million a year to lending more than $1 million every month? It’s because our team is committed to getting the client to ‘yes’, even when that takes a lot of work!
Just the other week, a small business owner walked through the door and handed Business Development Officer Alex Dang a paper bag full of financial documents, including bank statements, tax documents and loan application papers.
At a traditional bank this loan application would likely be turned away. At Opportunity Fund, we know our clients are incredibly busy and have limited resources, and we are willing to spend the time it takes to make their loan application successful—even when it requires sifting through papers hand-delivered in a grocery bag.
Today Opportunity Fund is the largest non-profit microlender in California. And we are proud to prove that you can reach scale while maintaining a client-centered, relationship-based lending model.