In the News

In the News | July 31, 2018

Non-profit lender is a life line for small business

December 2017 — Three #OpportunityFunded entrepreneurs are featured in a story about the loans Opportunity Fund provides to Latino entrepreneurs in California. The article also quotes CEO Luz Urrutia: "Opportunity Fund believes in the power of saying ‘Yes’ to everyone’s dream to build a business, so entrepreneurs in every community can thrive, support their families, and create jobs vital to our economy,” said Luz Urrutia, CEO of Opportunity Fund.

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In the News | June 18, 2018

Small Business Loans in Jeopardy

June 2018 — A little-known but essential state program called CalCAP, which helps small banks and Community Development Financial Institutions (CDFIs) make loans to small businesses, is in jeopardy of running out of funds. But Senate Bill 551, sponsored by state Sen. Ben Hueso, would give CalCAP new life and, having already passed the Senate, is working its way through the Assembly—starting with the committee on Jobs, Economic Development and the Economy (JEDE) on June 19.

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In the News | May 3, 2018

NMTCs Restore Tribal Lands, Create Wildlife and Salmon Sanctuary – and Jobs

May 2018 — Partnering with U.S. Bancorp Community Development Corporation (USBCDC), Opportunity Fund provided its largest NMTC allocation of $41 Million to restore tribal land for California's Yurok Tribe, developing a salmon sanctuary and community forest that will be an economic boost for the Yurok Tribe, which faces high levels of poverty and unemployment. The overall NMTC allocations will help support the creation of 171 full-time jobs, retention of 185 existing jobs and the creation of 329 construction jobs.

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In the News | May 3, 2018

The Most Important Small Business Lending Program You’ve Never Heard Of

May 2018 — When the federal State Small Business Credit Initiative expired in May 2017, so did the funding for state programs that support small business lending through loan loss reserves. Opportunity Fund was able to cover 8,754 loans through the end of 2017 and is eager to continue supporting underserved small business owners to the same degree. Now, Opportunity Fund has thrown its support behind SB 551, a state bill that seeks several reforms to protect California’s program.

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In the News | February 14, 2018

Founder Eric Weaver on CBS-5 (KPIX), Honored with Jefferson Award for Public Service

February 2018 — Founder Eric Weaver receives a Jefferson Award for Public Service, recognizing "quiet heroes in the community," and honoring those who have made significant impact through public service at the national and local level. Eric is joined in the story by #OpportunityFunded entrepreneur Alicia Villanueva, owner of Alicia's Tamales Los Mayas.

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In the News | December 18, 2017

An Entrepreneurial Program At Risk in Budget Talks

December 2017 — Amidst tax reform and federal budget negotiations, lesser-known programs that have tremendous impact, like the CDFI Fund, are at risk of being overlooked and losing critical funding. On behalf of small business owners, Opportunity CEO Luz Urrutia calls to maintain funding for the CDFI Fund: "It is imperative we not lose sight of lesser-known, at-risk programs that propel entrepreneurship, spur job creation, and shore up communities in ways that are integral to our economy, our democracy and the way we imagine destiny, liberty and opportunity for Americans across the land."

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