News & Press Releases

In the News | May 1, 2020

Local organization forms to provide loans to Bay Area minority-owned small businesses

Many small businesses were shut out from the federal government's Paycheck Protection Program that was intended to help them stay afloat during the coronavirus pandemic. Now a local organization is focused on providing loans for small Bay Area businesses, especially those with minority owners.

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Press Releases | April 24, 2020

$30B Set-Aside for the Most Vulnerable Small Businesses in New PPP Funding is a Carve-Out in Name Only

Congress passed $320 billion in new funding for the Paycheck Protection Program (PPP) Thursday, including $30 billion for lenders with relationships with traditionally underserved businesses. This is a $30 billion carve-out in name only, and will not adequately help the nation’s most vulnerable business owners who were completely left out of the first round of funding.

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Press Releases | April 8, 2020

Nation’s Leading Nonprofit Lender Opportunity Fund Launches Small Business Relief Fund Aimed at Raising $50M for Entrepreneurs Affected by COVID-19 Crisis

The CARES Act’s Paycheck Protection Program leaves the most vulnerable behind, and its rocky and inequitable roll-out may bring too little, too late, to Main Street. To fill this ‘stimulus gap,’ Opportunity Fund is raising $50 million to help small businesses survive. The national Fund--in regional partnership with Silicon Valley Community Foundation--has already received over $7 million in commitments from tech giants, Wall Street titans and A-list celebrities.

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