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SAN JOSE, Calif., Jan. 28, 2021 /PRNewswire/ Accion Opportunity Fund, the nation s leading nonprofit Community Development Financial Institution (CDFI) to small businesses, is working swiftly with its partners at Silicon Valley Black Chamber of Commerce and San Francisco African-American Chamber of Commerce to support Bay Area Black-owned businesses with advising, grants, and funding support, including Paycheck Protection Program (PPP) loans available now from the federal government. This comes as the nonprofit lender works to fulfill its $1 Billion
commitment to investing in marginalized businesses nationwide by 2023.
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During the first round of PPP lending, Accion Opportunity Fund originated $1.5 million in loans for 115 Black-owned small businesses, partnering with the Chambers to provide counseling and expert advice on the PPP loan application process to their members.