San Jose is home to non-profit Opportunity Fund (www.opportunityfund.org), which believes that small amounts of money and financial advice can help people make permanent and lasting change in their own lives, driving economic mobility and building stronger communities. It says yes to small business owners, low-income students, and families because entrepreneurship, education, and sound financial habits are proven pathways to greater economic opportunity.
Even in the most favorable circumstances, creating small business success is a significant challenge. With traditional lenders tightening lending qualifications, small business owners are often left with a narrow set of problematic options – lending schemes with triple-digit interest rates that can cripple a business. Opportunity Fund helps small business owners avoid predatory lending, such as high rate ‘fast cash’ advances. About 90 percent of its loans are to minority owned businesses and Opportunity Fund provides no cost evaluation of loan needs and complimentary cash flow analysis to determine financing that businesses can afford to help promote long term success. The strategy combines microloans for small business owners and microsavings accounts to help students pay for college and families save for a rainy day. As California’s leading microfinance provider, Opportunity Fund has loaned more than $170 million and helped about 13,000 people since 1994.
Opportunity Fund's role is to help working families realize their dreams and move beyond worrying about how to live day to day. Visit www.opportunityfund.org for more information about the organization and San Jose office.