www.opportunityfund.org @OpportunityFund

Economic inequality is widening and opportunities to get ahead are shrinking. The past year was a difficult one for many of the families and businesses in the communities we serve. Despite that, thousands of small business owners – backed by you, our community of donors, investors, and advocates – stood together to take charge of their family’s financial well-being. Your support meant enterprising people throughout California and across the United States are building a better future for all of us. With your support, Opportunity Fund continues to scale – by broadening and deepening our impact; to innovate – with new products and partnerships; and to lead – producing original research and advocating for policy changes in Washington, D.C. and Sacramento.

Driving Empowerment

FY18 IMPACT REPORT

Opportunity Funded Clients: Maria, Cosmetica Latina; Lia & Carlos, World Empanadas; Kei, Sugarbird Desserts; and Adolfo, Two Amigos Western Wear

New loans to entrepreneurs

2,985

• $92 Million invested in small businesses• $131 Million small business loan

portfolio under management - the largest in the U.S. for a non-profit CDFI

• 1,492 new loans and $41.6 Million invested in SoCal

• Since 1994, 13,845 cumulative loans, creating and sustaining 25,000 jobs

• $43.6 Million loaned in New Market Tax Credit projects

• 3 projects closed in FY18• 5,832 cumulative jobs supported

• Sponsored SB551, a CA bill that seeks to increase the sustainability and transparency of a critical loan loss insurance program (CalCAP)

• Lobbied successfully with others to preserve federal funding in the Treasury Department budget to support CDFI small business lending and New Market Tax Credits

Policy Advocacy

ExpansionWe continued our geographic expansion to 12 additional states, including Texas and Florida! We ‘opened for business’ with loan officers in Fresno, San Diego, and Sacramento. And we expanded our New Markets Tax Credit lending to the entire Western United States.

Opportunity Fund’s Small Business Impact Fund debuted at $11.15M, and enabled accredited individuals to invest in loans to underserved small business owners. The fund, backed by accredited impact investors, builds on a solid base of $100M from longstanding institutional funders.

Small Business Impact Fund

In partnership with Accion, Opportunity Fund released a first-of-its-kind national, longitudinal evaluation of our lending and advising services. Researchers found that our small business lending not only helps our clients grow their businesses, but also has positive, long-term financial and personal implications.

Research

Low-income people served annually by our NMTC projects

394,654

www.opportunityfund.org @OpportunityFund

FY18 HighlightsServing the underserved Financial strength

Entrepreneur Spotlight: Marcia, owner of Pinky Rose in Los Angeles

Trust and Reputation

• 910 women entrepreneurs

• 2,384 minority business owners

• 1,777 low-moderate income borrowers

• Median loan size: $21,000

• 6th consecutive 4-Star Rating from Charity Navigator for transparency and financial performance

• AA 4-Star AERIS rating58% Earned Income

42% Contributions

Sustainable Growth

Marcia Charles, aka ‘Pinky,’ built a successful boutique in Los Angeles after a long career in fashion. She started out working in department store warehouses and made her way as a self-taught fashion designer and merchandiser. After Marcia opened her business, a high interest loan from a predatory lender nearly crippled her new venture. Marcia came to Opportunity Fund for help and, over the next three years, she came back for three more loans to support her wholesale division and grow her business. While building a business, Marcia also helped establish the small business heart of her West Pico neighborhood, mentoring other small business owners who came up alongside her. Marcia has big dreams for Pinky Rose and her comfort couture fashion brand, including expanding to a second location to showcase her original designs!

“Opportunity Fund believes in me and I believe in them. They treat me fairly, and with respect. It’s clear they care about small business owners like me. We all need that.”

Welcoming Opportunity Fund’s new CEO, Luz Urrutia

Luz Urrutia joined Opportunity Fund as CEO in September 2017, continuing her life’s work to build a more inclusive financial system. After 18 years at Wachovia, Luz founded El Banco de Nuestra Comunidad, a Georgia-based financial institution for the underbanked Latino population, and served as President and COO from 2001 to 2013. Luz then joined Oportun and led its expansion across five states as VP of Retail Sales and Services from 2013 to 2016. In 2016, she joined Dollar Financial Group as CEO for the Americas to help transform the organization into a responsible consumer finance business. Luz has served on the Board of the Center for Financial Services Innovation and the Consumer Advisory Council of the Federal Reserve Bank. In 2006, American Banker awarded her “Community Banker of the Year.” Our Founder, Eric Weaver, continues to serve as a Senior Advisor and board member.

“I’m passionate about opening doors to the financial system so hard-working individuals can increase their economic opportunities to get ahead.”

Every dollar donated deploys thirteen dollars in new loans

$1 $13 Invest Return