Opportunity Fund is a nonprofit microlender that offers affordable access to small business loans—with a particular focus on underserved entrepreneurs—including low- and moderate-income immigrants, people of color, and women.
Although primarily a California-based lender, Opportunity Fund works with lending partners to expand their reach across the U.S. As an example, any prospective borrower that submits a business loan inquiry on the Lending Club website is connected to Opportunity Fund (as Lending Club no longer originates business loans).
That said, with funding available in five to seven days, these medium-term loans are a slightly faster (yet still affordable) alternative for business owners who might not qualify for bank or SBA loans.
Opportunity Fund offers medium-term loans that can be used for a variety of purposes, including—working capital, equipment purchases, vehicle purchases, debt refinancing, opening a new business location, purchasing another business, and more.
Loan amount
$2,600 to $250,000
Terms
One to five years
Interest rates
4.99% to 24.90%; APR ranges from 12.15% to 29.97%
Time in business
12+ months
Annual revenue
$50,000+
Credit score
No stated minimum
Before you decide to apply for a business loan from Opportunity Fund, it’s important to note that there are certain eligibility criteria you’ll need to meet in order to qualify. Here’s what you’ll want to keep in mind:
Opportunity Fund does not work with businesses in the following industries:
Opportunity Fund business loans are not available to businesses located in:
As you’ll see here, Opportunity Fund has very specific state-by-state lending guidelines. If your business is located in California, you can apply in-person, over the phone, or online for a loan.
If your business is located in any of the states not listed above, on the other hand, you can apply for an Opportunity Fund small business loan online or over the phone through Opportunity Fund’s partnership with Lending Club.
If you’re interested in a business loan from Opportunity Fund, there are a few ways you can start the application process. As we mentioned above, the best method to begin your application will largely depend on where your business is located.
That said, if you’re not sure where to start, you can always call one of the Opportunity Fund loan consultants at 866-299-8173. They’ll be able to recommend the most suitable course of action and walk you through the business loan application process.
It’s very likely, however, that it will be easiest for most business owners to apply online through the Lending Club platform—as this is available in the majority of states.
Let’s break down what that process looks like.
As we’ve mentioned, although Lending Club no longer originates business loans, Opportunity Fund uses their online platform to serve their small business customers and facilitate their application and underwriting process.
Therefore, you can start your Opportunity Fund application by clicking “Get a Quote” and entering your desired loan amount, email address, and loan purpose on the business loans section of the Lending Club website.
After you’ve submitted your information, Opportunity Fund will pull a soft credit inquiry—which will not impact your credit score. Then, if Opportunity Fund thinks you’re a candidate for a loan, you’ll receive a quote and be able to review multiple monthly payment and interest rate options.
Next, you’ll be paired with a dedicated Opportunity Fund Client Advisor who will be available to answer any questions you have and will help you with submitting any required documents as you continue through the next steps in the process. You’ll choose the quote that best fits your business needs and submit a complete application.
At this point, Opportunity Fund may conduct a hard pull of your credit report as part of the last stages of their underwriting process. Then, hopefully you’ll receive a final loan offer from Opportunity Fund.
Although Opportunity Fund uses Lending Club’s platform to facilitate their processes, their timeline is generally slower compared to other online lenders in the industry. Generally, it takes three to five business days for Opportunity Fund to notify you with an offer after you’ve submitted a completed application and all required documentation.
That said, once you’ve received your loan offer, you’ll be able to review your loan amount, rates, terms, and additional details. As you do so, it’s important to note that:
If you sign the loan agreement, you’ll be able to access your funds in as little as two to five business days from the time your loan was approved. Your loan can be funded either by check to your business or by electronic deposit to your business bank account.
Once you’ve received your financing from Opportunity Fund, you’ll start repaying on a monthly basis. Opportunity Fund’s fixed-rate installation loans are fully amortizing and do not have prepayment penalties—so you can save money on interest by paying them off early.
You’ll have a few options for repayment—you can set up automatic payments, create and use a PayNearMe account, or pay by mail.
Finally, it’s important to mention that Opportunity Fund reports payment history on their small business loans to both the consumer and business credit bureaus—and therefore, you can build your business credit and personal credit scores by paying back your loan on time.
Opportunity Fund has various customer service departments devoted to different aspects of their business. For small business lending assistance, you can call 866-299-8173 or email loans@opportunityfund.org.
To reach their general customer service, on the other hand, you can call 408-297-0204 or email info@opportunityfund.org. Opportunity Fund customer service representatives are available from Monday through Friday, 8:00 a.m. to 5:00 p.m. PT.
Additionally, if you’re working through the application process and are trying to reach out to an Opportunity Fund Client Advisor, you can do so by calling—877-525-1555—Monday through Friday from 6:30 a.m to 5:00 p.m. PT.
What do previous customers have to say about their experience with Opportunity Fund?
In general, although there is not an abundance of Opportunity Fund reviews available online, positive reviews tend to focus on the professionalism and helpfulness of the Opportunity Fund team, as well as the affordable rates and terms of their loans.
More negative reviews, on the other hand, seem to come from borrowers whose loan applications were denied or who were initially qualified and then received a denial after submitting additional documentation.
With that in mind, Opportunity Fund is not a BBB-accredited business and currently has a B- rating on their site. They don’t have any BBB reviews and only have one active complaint about phone calls regarding an ex-employee.
It’s worth noting, however, that Opportunity Fund is a nonprofit organization—which is why it might not be listed on common consumer review sites. That said, as an organization, Opportunity Fund does have a four-star rating (90.06 out of 100) from Charity Navigator, a company that evaluates the transparency, accountability, and financial health of nonprofits.
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Funding Circle | Fundation | Credibility Capital | OnDeck |
Fundera Score 5
| Fundera Score 5
| Fundera Score 4
| Fundera Score 5
|
Products OfferedTerm loans | Products OfferedTerm loans; lines of credit | Products OfferedTerm loans | Products OfferedTerm loan; lines of credit |
Interest ratesStarting at 4.99% | Interest rates8% to 30% APR | Interest rates8% to 20% | Interest ratesStarting at 29.9% |
Minimum credit score required660 | Minimum credit score required600; 660 | Minimum credit score requiredStrong personal credit | DisclosureRates based on loans originated in the half-year ending March 31, 2022 |
Minimum credit score required625 | |||
![]() |
Funding Circle |
Fundera Score 5
|
Products OfferedTerm loans |
Interest ratesStarting at 4.99% |
Minimum credit score required660 |
![]() |
Fundation |
Fundera Score 5
|
Products OfferedTerm loans; lines of credit |
Interest rates8% to 30% APR |
Minimum credit score required600; 660 |
![]() |
Credibility Capital |
Fundera Score 4
|
Products OfferedTerm loans |
Interest rates8% to 20% |
Minimum credit score requiredStrong personal credit |
![]() |
OnDeck |
Fundera Score 5
|
Products OfferedTerm loan; lines of credit |
Interest ratesStarting at 29.9% |
DisclosureRates based on loans originated in the half-year ending March 31, 2022 |
Minimum credit score required625 |
Opportunity Fund is in Fundera’s Lender Network. The Fundera team has carefully vetted Opportunity Fund and determined that their offering is one of the best in their product category. When working with Opportunity Fund, you can be sure you’re getting transparent, fair pricing on a best-in-class product.
Randa Kriss is a senior staff writer at Fundera.
At Fundera, Randa specializes in reviewing small business products, software, and services. Randa has written hundreds of reviews across a wide swath of business topics including ecommerce, merchant services, accounting, credit cards, bank accounts, loan products, and payroll and human resources solutions.