Accion Opportunity Fund surpasses $1 billion in affordable small business loans and kicks off ambitious scaling plan
Lending milestone underscores the strong demand for safe, affordable capital by small businesses unable to access traditional sources of financing.
San Jose, CA (March 24, 2025) – Accion Opportunity Fund (AOF), a leading nonprofit small business lender, announced that it has surpassed $1 billion in lending to small business owners across the country. As a mission-driven lender, AOF provides loans to small businesses who face barriers to accessing capital, from high-cost predatory alternatives or other mainstream lenders, and offers borrowers free educational resources, one-on-one coaching, and networks.
AOF’s $1 billion lending milestone represents over 34,000 loans, yet the need in the marketplace is much larger. Nearly 80% of small businesses report not being able to access the capital they need from traditional financial institutions, which leads many to rely on expensive products that can negatively impact their financial health and sustainability.
“To meet the capital demand from small business owners in a way that nurtures their growth and sets them up for success, we must grow the market for safe, affordable capital,” says AOF President and CEO Luz Urrutia. “I consider this our first $1 billion. Now, our sights are set on deploying the next $1 billion – reaching exponentially more underserved small businesses with affordable loans while maintaining the educational resources and support networks that help business owners leverage their capital to build wealth and economic security for themselves, their employees, and their communities.”
AOF has a bold vision to be the first mission-driven lender to provide responsible lending, creating impact at scale, and achieving financial self-sufficiency. Doing so will require a mix of catalytic philanthropic and impact investment.
“Philanthropy fuels our innovation, product development, and best-in-class free business advising services,” says AOF Board Chair Greg Avis. “Impact investments fuel our capital supply. For every dollar we deploy, $2 dollars in new economic activity is created, uplifting not only borrowers but their larger communities. Investing in small businesses creates incredible leverage for widespread economic benefit.”
Over the next five years, AOF aims to reach 65,000 small business owners with capital and accompanying services. This work has the potential to deliver $1.5 billion in economic impact and support or retain 30,000 jobs. By demonstrating the economic value of investing in underserved small businesses, AOF also hopes to catalyze growth across the entire mission-driven lending industry. A larger, more prominent marketplace for affordable small business capital will drive lasting economic mobility and financial security for America’s small businesses.
To learn more or support AOF’s mission, please visit aofund.org.
About Accion Opportunity Fund
Accion Opportunity Fund (AOF) is committed to advancing economic mobility for underserved small businesses and low-income communities through affordable capital, knowledge resources, networks, and policy.
Media:
Tim Hay, Synthesis Media LLC
tim@synthesismediallc.com
(510) 593-0285
Philanthropy Contact:
Cathrine Evanilla, Senior Director, Development
ofgiving@aofund.org