The state of California is home to over 3 million small businesses, all with one thing in common.
A need of money for operation purposes.
Unfortunately many small firms are having a hard time obtaining capital from traditional lenders. Opportunity Fund is looking to help small businesses in need of capital through alternative microloans. According to Small Biz Trends, “[In] its 2016 fiscal year, Opportunity Fund provided over $60 million in loans, with a special focus on helping minority owned businesses, though that is not a requirement to obtain funding.”
Most Opportunity Fund borrowers are unable to obtain capital from traditional lenders, creating an opportunity to help smaller sized firms in need of funding. The average loan size is $18,000 with reasonable fees for interested parties. To qualify for a loan, businesses must be located in California and have been in existence for at least a year with credit “currently on time.”
For more information about Opportunity Fund, please visit their website- http://www.opportunityfund.org/