Opportunity Fund
Target demographics: At Opportunity Fund, we help our neighbors, the hard-working people getting by on modest wages in the Bay Area. Some are refugees from around the world. Some live in homeless shelters even while holding jobs. Others start businesses on the side to help make ends meet. All of them share a determination to build a better life for their families.
We help our clients get a foothold and get ahead. We help them join the financial mainstream. We achieve this by lending a helping hand, through our award-winning approach that includes financial education, microfinance loans, matched savings accounts, and affordable housing financing.
We serve clients who are:
70% Women; 45% Immigrants; 40% Latino; 20% Asian/Pacific Islander; 10% African American; 41% Single Mothers (in IDA Savings Program)
Direct beneficiaries per year: 700+
Geographic areas served: San Francisco Bay Area (San Jose, San Francisco, Oakland)
-Invest $180 million in the Bay Area
-Made $15 million in loans to 1,200+ entrepreneurs
-Enrolled more than 3,300 people saving for the future
-Helped finance over 8,000 affordable homes
MICROLENDING: Every $1 we lend to a local small business generates almost $2 in new annual economic activity, through new spending, wages earned, and tax revenues. Our small businesses clients have an 90+% survival rate and create or sustain an average of 2.4 jobs per loan.
MICROSAVINGS: 70% of program graduates continue to save after they graduate from our microsavings program, and 70% open savings accounts for their children. 90% feel more confident about their ability to succeed financially.
