News & Press Releases

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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In the News | June 19, 2017

Small businesses are doing their part to create jobs. Here’s how the Legislature can help.

June 2017 — 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 | December 1, 2016

Controversial cash advances come at a high cost

December 2016 — Short-term financing known as merchant cash advances are getting some small businesses into hot water financially. CEO Eric Weaver is quoted on the dangers of merchant cash advances, and Opportunity Fund is mentioned as a CDFI lender, a reliable alternative.

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In the News | October 13, 2016

It’s the ‘Wild West Out There’: Merchant Cash Advances

October 2016 — The merchant cash advance industry runs largely unregulated, causing borrowers to risk their livelihood and business to keep up with payments. Opportunity Fund's research is cited, and Gwendy Brown, VP of Research & Policy, is quoted, highlighting the unfavorable outcomes of merchant cash advances.

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