Prosperity Project Loan Fund

The Prosperity Project began in response to the need in Sacramento’s refugee communities for access to financing for expanding or creating small businesses. Since our first loan to a Hmong jeweler many years ago, we have assisted over 100 small business owners to create jobs and strengthen our local economy. In 2004, Opening Doors became a Community Development Financial Institution (CDFI).

Prosperity Project provides microloans in amounts up to $50,000 to qualified small business owners. We work with talented, energetic and hard-working micro entrepreneurs who may not qualify for funding through traditional sources. We take the time to provide them with the individual assistance they need in developing their business plans and other elements of their loan applications.

Loans for Refugee Businesses
Our refugee microenterprise loan program is tailor-made for refugee and asylee small business owners. We understand that these new-comers often lack the well-developed credit that is of prime importance for loan underwriters. As we measure their loan-worthiness, we take into account their different credit histories and their business experiences and skills built up in non-US contexts. For many refugees, doing business in the US and applying for a loan in the American context are new experiences. We assist them in developing the skills and knowledge they need to navigate the loan application process and to make their businesses thrive. Refugee loans are available in amounts up to $15,000 at an interest rate of 7.25% (4% above Wall Street prime), for terms up to three years.

Microbusiness Loans
In addition to our refugee loans, in partnership with Valley Small Business Development Corporation, we are able to offer microloans up to $50,000 to small business owners in the Sacramento area, depending on their qualifications and credit scores. Loan interest rates are 8% (4.75 above prime); loans are available for terms up to six years. Applicants may opt for individual technical assistance to help complete business plans or other loan requirements.