Thank you Bank of America for your continued support and commitment to small businesses in CaliforniaPosted on Jul 17, 2014 by
As Opportunity Fund grows, it is great to know that our partners are right by our side. Last week, we received new funding from Bank of America to support our microlending in Northern and Southern California. Thanks to the support of the Bank’s regional Community Development staff, we have renewed funding for lending in Silicon Valley and new grant funds to help us meet the needs of underserved small business owners in San Francisco, Los Angeles, Orange County, and the Inland Empire.
These clients include Ulises Duran and his daughter, Melissa, who needed a loan for their Tutti Fruti Frozen Yogurt shop in Northridge. When Bank of America branch manager Morris Vides determined that he was unable to provide a loan, he referred the father/daughter duo to Opportunity Fund and we provided a $20,000 EasyPay loan. Now, Ulises and Melissa have the capital they need to expand to a second location in Sylmar and the opportunity to improve their credit so that they can qualify for traditional financing in the future.
But that’s not all! Bank of America has also signed on as a sponsor for 20 Years of Opportunity—our big 20th anniversary on October 18th. Thanks, Bank of America, for helping Opportunity Fund expand our reach and impact!