News & Press Releases

In the News | October 2, 2019

Forget Unicorns: As More Tech Companies Go Public, It’s Time To Celebrate Workhorses

In the world of Silicon Valley venture capital, you’re expected to chase the elusive, the lucrative, the transformative. This could be the killer app or the unicorn startup. Opportunity Fund's CEO, Luz Urrutia, suggests venture capitalists start to think about more than chasing unicorns. Instead of solely focusing attention, and capital, on rarefied billion-dollar companies, the industry should emphasize investing in the familiar, the everyday, the essential — the millions of small businesses that undergird people’s daily lives. These can include neighborhood restaurants, cafés and bakeries; home health agencies; house cleaning services; daycares; and auto detailers. In other words, it’s time to support the workhorses, not just the unicorns.

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In the News | August 14, 2019

How Women Can Get The Loans Their Businesses Need

Access to capital is crucial to startups and growing companies. Undercapitalized businesses have lower sales, lower profits, and generate fewer jobs. Women start with less capital than their male counterparts, and raise less debt and equity in their early years which can lead to long-term effects. Lia Hirtz of World Empanadas applied for traditional loans, but banks turned them down. She was referred to Opportunity Fund and received a $15,000 loan. Now her business is thriving: World Empanadas has grown substantially, revenues in 2018 were $1.5 million, and the company now employs 17 people.

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In the News | August 14, 2019

How Mastercard Helps Women Entrepreneurs Get The Loans They Need

As nonprofits, CDFIs, like Opportunity Fund, don’t have money to invest in the technology to improve their loan application processes. Many use pen and pencil processes. Enter Mastercard. As an electronic payment company, it has the technology to issue credit in a safer more simple way. Mastercard Impact Fund (Mastercard’s philanthropic arm) helps Opportunity Fund automate our processes.

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In the News | August 14, 2019

Federal Ban on Confessions of Judgment Would Help Small Businesses

June 2019 — Congress took an important step toward protecting small businesses from predatory lending by re-introducing the Small Business Lending Fairness Act.

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Press Releases | July 29, 2019

Responsible 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.

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Press Releases | June 26, 2019

Opportunity 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.

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