In the News

In the News | November 10, 2017

Small Businesses And Low-Income Americans Will Lose Under New Budget Cuts To CDFI And NMTC Programs

November 2017 — Congress has proposed a budget that decreases the CDFI Fund and tax reform that would eliminate the New Markets Tax Credit program. Opportunity Fund CEO Luz Urrutia shares this perspective in Forbes: "As lawmakers cast their votes on the budget and negotiate tax reform, they must have their eyes wide open about who is hurting in our country and support the programs that are working. The CDFI Fund and NMTC program work. We must keep them. People’s futures are hanging in the balance."

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In the News | November 10, 2017

Opportunity Fund Expands Lending in Central Valley through Community Partnership with Fresno Area Hispanic Foundation

November 2017 — The Fresno Area Hispanic Foundation joins Opportunity Fund's Community Partner Program. Together, the organizations will support entrepreneurs in the Central Valley who do not qualify for tradiitonal financing. This partnership is one of many made by Opportunity Fund to expand access to capital for more small business owners in new areas of California.

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In the News | September 28, 2017

Google backs fund aimed at minority-owned small businesses in Santa Clara County

September 2017 — Opportunity Fund and Pacific Community Ventures announced a new collaboration funded by Google.org. The $600,000 grant will help 150 small business owners in Santa Clara County access the funding and business advice they need to grow their businesses, create jobs, and support the local economy

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In the News | September 21, 2017

Why is the GOP trying to hide the funding problems small businesses face?

September 2017 — Opportunity Fund CEO Luz Urrutia calls on the GOP to support the 1071 data reporting requirement, which requires the Consumer Financial Protection Bureau (CFPB) to collect statistics on the state of small business lending, including information about access to credit for women and minority-owned businesses. This data brings light to discriminatory practices and gaps in small business lending and is cruical for ensuring equal opportunity for small business owners.

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In the News | September 6, 2017

‘Fintech’ Loans: A Sometimes Costly Lifeline for Small Business

September 2017 — KQED News highlights Opportunity Fund's work in helping small businesses owners refinance expensive online loans after falling into unexpected debt. The article profiles Opportunity Fund client, Che Al-Barri, who fell into debt through an online loan and was able to refinance his cleaning business with Opportunity Fund's help.

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In the News | September 4, 2017

Can Fintech Advance Civil Rights?

September 2017 — The parternship between Opportunity Fund and Lending Club is providing greater access to capital for small and minority-owned businesses, which are often unable to access credit from traditional lenders. Not only is this parternship expanding access to capital by reaching a broader market, but both organizations are also utilizing fintech lending responsibily.

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