News & Press

The policy team has been busy this spring, with visits to Washington, D.C. and Sacramento, educating policymakers (and even educating ourselves) on a bevy of economic and community development issues.

Yesterday, Accion Opportunity Fund, alongside fellow members of the Responsible Business Lending Coalition (RBLC) and nearly 60 other organizations, submitted a comment letter outlining how California’s Department of Business Oversight (DBO) should bring true cost transparency to the small business lending market.

Accion Opportunity Fund strongly supports a robust and inclusive Community Reinvestment Act to drive investments and services in underserved communities. Our comments follow a national trend set forth by advocates and regulators about the importance of maintaining CRA’s ability to facilitate investments into low-and-moderate income (LMI) communities.

Recently, Accion Opportunity Fund staffers Gabe V. and Chris H. visited the district offices of Congressional representatives where Opportunity Fund has New Markets Tax Credit (NMTC) projects, to advocate for an extension to the NMTC program, which expires at the end of the 2019 government fiscal year.

Every business owner we lend to is on a journey—to turn their dream of a sustainable business into a reality. Many of our borrowers face obstacles on their journey toward success—such as a cash flow shortage or other financial setback—that may prevent them from seizing an opportunity to grow or maintain their business.

SB 1235, authored by State Sen. Steve Glazer (D-East Bay), was supported by a coalition of more than sixty organizations, including Accion Opportunity Fund, from the private sector and non-profit lenders and advocates.

Opportunity Fund CEO, Luz Urrutia, has been appointed to the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board (CAB).

Woman-led businesses are on the rise. Right now, there are more women-owned enterprises than ever before. But unfortunately—it looks like women are doing more with less.

Today, we’re pleased to release new findings from our evaluation of the partnership between Opportunity Fund and LendingClub.

Today, the California State Assembly Committee on Jobs, Economic Development, and the Economy (JEDE) voted in favor of Senate Bill 551, which sustains a state program that helps Community Development Financial Institutions (CDFIs) and small banks make responsible small-dollar loans to California small businesses.