US Opportunity Fund partners with credit unions to invest in SMEs

Wednesday 6 January 2021 12:51 CET | News

US-based Opportunity Fund has partnered with multiple credit unions as part of its USD 1 billion commitment to investing in marginalised SMEs in the next two years.

The nonprofit Community Development Financial Institution (CDFI) to small businesses, has thus formed partnerships with Meriwest Credit Union, Self-Help Federal Credit Union, and UMe Credit Union. These partnerships increase small business owners' access to transparent, affordable credit, particularly among businesses owned by women, people of colour, and rural entrepreneurs.

The institution will be providing working capital loans from USD 2.600 to USD 100.000 to underserved businesses. The services they offer include flexible underwriting criteria, less onerous documentation requirements, multilingual customer service representatives available to answer questions 7 days a week/12 hours per day.

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Keywords: Opportunity Fund, SMEs, US, nonprofit, CDFI, Meriwest Credit Union, Self-Help Federal Credit Union, UMe Credit Union, loans
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech