This Loan Is Good For...
  • California businesses
  • Businesses established for 1 year with bad credit
  • Small loans
If your business is not in California and you are seeking a small, low interest loan, we recommend looking at FundBox or Kabbage.

Opportunity Fund is a nonprofit lending institution built on the belief that small amounts of money and financial advice can help people improve their lives, and that doing so can drive economic mobility and build stronger communities. Opportunity Fund’s tagline is “working capital for working people.” Established in 1994, they have three locations in California and work exclusively with California businesses.

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Their microloan and microsavings account programs offer those who would normally be turned away by a bank the opportunity to save money and expand business. They also offer 12 hours of free financial education classes that cover topics such as budgeting, credit repair, and goal setting for account owners who meet their savings goals. Opportunity Fund’s system of microfinance has been reported on and praised in multiple national news sources, and as a company, Opportunity Fund continues to grow and assist thousands of small businesses thrive.

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Typically 12 months
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The Good

Because Opportunity Fund is a nonprofit lender and relies on government support and private donations, they are able to operate their business in a way that prioritizes the needs of small business owners and their communities. Their goal is to provide financial and educational support to businesses that might not have the credit or revenue to secure traditional financing. They do this through two main lending options:

1. EasyPay Loans essentially operate like a cash advance; however, instead of short repayment terms and high interest rates, Opportunity Fund extends the loan terms and has a fixed interest rate range with any annual renewal fees. Repayment amounts are based on a daily percentage of credit and debit card sales with flexible repayment periods of up to 4 years. The interest rates range from 8.5% to 15%. The EasyPay Loans can be used:

  • to pay off merchant cash advances from other lending institutions
  • as working capital
  • for tenant improvements
  • to purchase equipment and machinery
  • to build inventory

Small businesses that have been operating for at least 1 year with at least 4 months of merchant processing qualify for EasyPay Loans. Businesses must also be on-time with credit and with the business’s landlord (when applicable) for 12 months.

2. Opportunity Loans and Small Business Loans are very similar to standard bank loans. Both require a vehicle title as collateral and while there is no application fee, there are closing costs of up to 5% of the loan amount. In order to be eligible, a business must have been in operation for at least 1 year and be located in California. A credit score is asked for but there is no minimum requirement to meet. For these loans, as well as for the EasyPay Loans, applicants can expect to receive approval within 2 to 3 business days and receive funds 3 to 5 days after closing.

For Opportunity Loans:

  • loan amounts extend from $2,600 to $20,000
  • 10% to 18% fixed interest rate
  • repayment terms of up to 3 years
  • for businesses in the Bay Area or Greater Los Angeles

For Small Business Loans:

  • loan amounts go up from $20,000 to $100,000
  • 8.5% to 10% fixed interest rates
  • up to 5 year repayment terms

Opportunity Fund also provides a third type of microloan, Equipment and Vehicle Loans, for the following specific purposes:

  • mobile food carts
  • commercial vehicles
  • dry cleaners
  • green loans (to upgrade equipment, comply with environmental regulations, and create or obtain more eco-friendly products)

Applications are welcome even if a small business’s needs extend beyond these particular categories.

Two other points to remember with Opportunity Fund is that there are no prepayment penalties and no origination fees.

The Bad

The biggest downside to Opportunity Fund is that it is only available in California. 

Opportunity Fund focuses its business financing efforts on assisting existing small businesses grow and succeed. By doing this, they believe that they can improve communities and economies, as well as have a personal impact on the lives of small business owners. Unfortunately, this means they do not accept general applications from start-up businesses that have been operating for less than 12 months. They have held multiple Start-up Funding Challenges that offer start-up businesses a chance the secure financing from $5,000 to $50,000 with 7.5% fixed interest and no loan fees; however, the last Challenge was held in the early part of 2014 without any apparent Challenges since then.

While there is no minimum FICO score required to apply for any of the loan options, Opportunity Fund does look at a business’s credit history. Any business that:

  • is currently delinquent on other credit payments
  • has open tax liens
  • has open bankruptcies
  • does not qualify for funding

Opportunity Fund is in the business of helping small businesses succeed; however, they mostly aim to fill the funding gap for established business owners who have a solid business in place but do not qualify for traditional bank loans.

The largest drawback to Opportunity Fund’s microfinance system and funding opportunities is that they are available only to small businesses located in California. Opportunity Fund has only three locations and in spite of providing service to thousands over customers during their 20 year in business, they remain a small company.

Opportunity Fund does not have a BBB rating because the BBB does not have sufficient information about the company to issue a rating. This makes it difficult to guess how the quality of services compares to other lending institutions. However, the BBB’s recorded complaint history for Opportunity Fund shows that the company gave proper consideration to the complaints filed and no complaints have been filed within the last 3 years.

The Bottom Line

Opportunity Fund is a California-based nonprofit lending company whose business services are dedicated to helping small businesses see growth and success. They remain a relatively small company, but their financial and educational resources represent an excellent opportunity for businesses who meet their qualifications. While their services are only available to small businesses based in California, their application process is easy and quick.

Their EasyPay Loans operate much like a cash advance but with the lower interest rate and longer repayment term advantages of a traditional loan. Their business loan options provide fixed interest rates with flexible repayment terms as well. Because Opportunity Fund is a non-profit organization, they are truly able to focus on meeting the altruistic goals and visions of their company without worrying about shareholders or annual revenue.

*Star Rating is determined by evaluating APR range, minimum credit score requirement, revenue requirement, length in business requirement, and other related approval data.

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