Opportunity Fund, the nation’s leading nonprofit small business lender, is partnering with KeyBank to launch a program that will offer $140 million in loans to independent truck drivers in New York. This new program will bolster the state’s trucking industry, boost the region’s economy and replace older trucks with newer clean-burning models.
"Next street is proud to have worked with Opportunity Fund and Key Bank on this program. We're excited about how this will help truck drivers launch their own small businesses and build wealth for themselves and their families."Marina LinhartCEO, Next Street
Opportunity Fund and KeyBank will offer loans ranging from $50,000 to $200,000. Opportunity Fund, a California-based Community Development Financial Institution (CDFI), has a strong track record of lending to truckers on the West Coast, having made more than 3,500 truck loans totaling over $140 million since 2010.
Learn more in the official press release.