Opportunity Fund Announces Launch of Largest National Loan Fund for the Growth of Latino-owned Small Businesses in Partnership with NALCAB and Wells Fargo
The Wells Fargo Foundation has made a historic $10 million grant to NALCAB - National Association for Latino Community Asset Builders and select partners including Opportunity Fund, to support growth-oriented lending to minority-owned businesses nationwide through a network of Latino-led nonprofit business lenders. The new Acceso Loan Fund is designed to help diverse entrepreneurs scale to a greater size, expanding their revenue, impact on the economy and ability to provide jobs.
Read StoryResponsible Business Lending Coalition Applauds California’s Proposed Commercial Finance Disclosure Regulation
The State of California acted in the best interests of small businesses by developing proposed regulations that reinforce small business borrowers’ right to transparency in financial products. The proposed regulations released by the Department of Business Oversight (DBO) would protect California’s four million small businesses from predatory lending by mandating they be given the opportunity to understand the financing they are being offered in a clear, concise manner that enables informed comparisons across different options—including disclosure of annual percentage rate (APR) and estimated monthly payments.
Read StoryOpportunity Fund Partners with KeyBank to Launch Lending Program for Independent Truckers in New York
Opportunity Fund is partnering with KeyBank to launch a program that will offer $140 million in loans to independent truck drivers in New York. This new program will bolster the state’s trucking industry, boost the region’s economy and replace older trucks with newer clean-burning models.
Read StoryLendingClub Partners with Opportunity Fund and Funding Circle, Increasing Financial Inclusion and Small Businesses’ Access to Credit
LendingClub Corporation, America’s largest online credit marketplace connecting borrowers and investors; Opportunity Fund, the country’s leading nonprofit small business lender; and Funding Circle, the leading small business loan platform in the United States, today announced a collaboration designed to substantially increase small business owners’ access to transparent, affordable and responsible credit.
Read StoryMore Than 1,000 Women Entrepreneurs Join Nonprofits, LA Mayor’s Office at City Hall to Announce New Initiative to Get Money to Local Women Business Owners
The Wurwand Foundation and Opportunity Fund join Mayor Eric Garcetti’s office to celebrate Women’s Entrepreneurship Day at City Hall and announce ‘FOUND/LA,’ a new initiative that will put money and resources into the hands of hundreds of women business owners.
Read StoryNew Report Shows Creating Financial Access for Immigrants & Underserved Entrepreneurs Increases Credit Scores and Leads to Job Creation
New research completed into the impact of the last decade of Opportunity Fund’s lending to underserved and immigrant small businesses owners in California shows that the loans made by the community development financial institution have resulted in large-scale positive changes to borrowers’ financial lives, including establishing or improving credit scores, and stimulating business growth and job creation in the communities where they operate.
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