Content area
Full Text
Opportunity Fund, the largest non-profit lender to small businesses in California, is partnering with Lending Club to pre-screen applicants for Opportunity Fund Loans. Calling the arrangement a "breakthrough collaboration of high-tech and non-profit lending" the partners say Opportunity Fund will review applicants screened by Lending Tree through a "seamless technology integration."
The pilot program, which was announced by former President Bill Clinton at the Clinton Global Initiative America conference, is intended to provide $10 million in loans to small businesses in underserved areas of California.
An Opportunity Fund spokeswoman told American Banker that through the arrangement her organization will fund loans...