Loans (US)
Accion Opportunity Fund review: overcome obstacles and access opportunities
In the Accion Opportunity Fund review, you will learn how it works and how you can access multiple resources to grow your small business.
by Aline Augusto
Accion Opportunity Fund: up to $100,000 with flexible terms
Accion Opportunity Fund (AOF) is a non-profit lender that helps small businesses to overcome obstacles and access opportunities.
The loans offered are customizable, and repayment terms are flexible enough to fit your needs and goals.
How to apply for the Accion Opportunity Fund?
Learn how the Accion Opportunity Fund application works so you can get the funds you need to overcome obstacles holding your business back.
| APR | As low as 5.99% |
| Loan Purpose | Business capital |
| Loan Amounts | From $5,000 to $100,000 |
| Credit Needed | All credit scores are considered |
| Terms | It depends on your offer |
| Origination Fee | Not disclosed |
| Late Fee | Not disclosed |
| Early Payoff Penalty | None |
Also, the AOF client base is mostly composed of diverse customers, including over 90% women, people of color, and people with low-to-moderate income.
How does the Accion Opportunity Fund work?
Accion Opportunity Fund has been active for 25 years on the market and mostly attends diverse and minority communities.
It is a non-profit lender, and it has invested $516 million to help small businesses to overcome obstacles and access opportunities.
The lending options offered feature flexible repayment schedules to fit your needs. Also, AOF provides amounts that range from $5,000 to $100,000.
Although it doesn’t disclose all associated fees, the APR can be as low as 5.99%. In addition, all histories and credit scores are considered in the application.
In summary, this lender offers two types of loans including the Southern Opportunity Resilience (SOAR) Fund for small businesses impacted by the pandemic period and a Progress Loan, a lending option provided by investments from American Express.
Furthermore, Accion Opportunity Fund offers multiple resources to help you grow your business, including a Coaching Hub and Learning Programs.
In general, AOF loans are fantastic options for small businesses run by diverse people and minorities who usually don’t get access to traditional lenders, especially when it comes to low-to-moderate income.
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Accion Opportunity Fund benefits
Accion Opportunity Fund differs from traditional lenders in almost all. Besides it is a non-profit lender, it offers a complete package of products and services at a very low cost.
Also, the terms and conditions are flexible enough to fit your needs and goals.
Pros
- AOF offers loans for small businesses, especially those run by diverse people and minorities with low-to-moderate income;
- It provides a whole package of services, including Coaching Hub and Learning Programs;
- It offers loan amounts ranging from $5,000 to $100,000, with flexible repayment schedules and APR as low as 5.99%;
- It counts on investments from American Express;
- The application process is simple, easy, and fast.
Cons
- It doesn’t disclose all fees associated with the loans.
How good does your credit score need to be?
Since Accion Opportunity Fund loans are provided for small businesses, especially those run by minorities with low-to-moderate income, all credit scores are considered in the application.
How to apply for Accion Opportunity Fund?
Learn how to apply for an Accion Opportunity Fund if you are interested in getting funds to overcome obstacles and grow your small business.
How to apply for the Accion Opportunity Fund?
Learn how the Accion Opportunity Fund application works so you can get the funds you need to overcome obstacles holding your business back.
Aline Augusto
Aline Barbosa
Senior Editor
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