Microlending in the Bay Area: Successes and Challenges to Growth

Eric Weaver founded Opportunity Fund in 1992, based on the idea that small amounts of money and financial advice could help people make permanent and lasting change to improve their own lives. Since making its first microloan to a family-owned pet store, Opportunity Fund has grown under Eric's leadership to one of the nation's largest non-profit microlenders to small businesses. In 1998, Eric and his team expanded Opportunity Fund to provide financial education and microsavings accounts (IDAs), and Eric is now a leading advocate in the U.S. for asset-building programs that help low-income Americans gain access to economic opportunity. Opportunity Fund has twice received the Skoll Foundation's Skoll Award for Innovation. In 2006, the U.S. Small Business Administration (SBA) named Eric Weaver Financial Services Advocate of the Year.