Accion Opportunity Fund Business Loans Review
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Pros and cons of
Pros
- Diverse loan options, with classics like SBA and business term loans alongside specialized products like food truck financing
- No prepayment penalty for term loans
- Relatively simple eligibility requirements compared to some competitors
- Competitive interest rates
Cons
- Some loan products have significant state or geographic eligibility restrictions
- Some loan products have an origination fee of to
small business loans review
(AOF) stands out in the small business lending space by balancing traditional loan products at competitive rates with specialized financing options that many lenders overlook.
While its term loans and SBA 7(a) loans follow industry standards, it’s the niche offerings — commercial truck financing and food truck loans — that set AOF apart from competitors that focus solely on general business funding.
What’s particularly noteworthy is how AOF structures eligibility around industry experience rather than relying heavily on traditional metrics like time in business or credit scores. This approach opens doors for entrepreneurs who have hands-on expertise but may not have lengthy business histories or perfect credit. A food truck operator with just one year of experience can access funding, for example, while someone with two years can qualify for significantly higher amounts.
This flexibility isn’t a coincidence – it’s a core part of what makes unique. As a nonprofit lender and Community Development Financial Institution (CDFI), AOF focuses on offering financing to business owners that have historically lacked access. According to the lender’s website, 90% of its loans go to underserved communities. As part of this, offers coaching, resources and support available in both English and Spanish.
may be best for businesses that meet the following criteria.
- Businesses that want flexibility. AOF offers a solid range of loan products, and its business term loans offer diverse repayment terms and no prepayment penalties. This is a distinct advantage for those that need funding, but want to choose their own terms.
- Businesses that need niche loan products. While AOF’s standard loan products are solid, its commercial truck financing and food truck financing offer dedicated solutions for specific purposes.
small business financing at a glance
| Product | Loan amounts | Repayment term | Estimated APR range | Fees |
|---|---|---|---|---|
| Term loans | months | origination fees | ||
| SBA 7(a) loans | Up to months | Based on the current prime rate of + | ||
| Commercial truck financing | Not disclosed online | Not disclosed online | Not disclosed online | |
| Food truck financing | Up to months | origination fee |
Term loans
One advantage of AOF’s business term loans is flexibility. There are multiple repayment term options, allowing you to choose between these origination fees are in the standard range. That said, there are competitors that offer lower or even no origination fees on some types of business financing, so it’s worth getting quotes from multiple lenders.
SBA 7(a) loans
Based on the current prime rate of + for SBA loans. While it doesn’t list its maximum rates for SBA loans, they would need to fall under the SBA’s maximum rate cap.
However, keep in mind that AOF excludes some states from eligibility for this product, including North Dakota, South Dakota, Tennessee, Montana, Vermont and District of Columbia.
Commercial truck loans
AOF’s commercial truck financing is designed specifically for businesses that need to purchase commercial vehicles. With loan amounts ranging from , this product can accommodate everything from small delivery vans to larger commercial trucks.
What sets this product apart is its emphasis on driving experience over traditional business metrics. You’ll need at least six months of driving experience to qualify for a heavy-duty truck. For medium-duty trucks, you can qualify with one year of driving experience and trucking income or one year in business. This makes it accessible for drivers who may be newer to business ownership but have solid experience behind the wheel.
However, the APR range isn’t disclosed online, so you’ll need to apply to understand the full cost of borrowing. These loans are also only available to people who live in Arizona, California, Florida, Georgia, Indiana, Maryland, New York, Texas, and Utah.
Food truck loans
One notable requirement is the down payment structure: Startups need to put down 30%, while existing food truck owners only need 10% to 20%. This ensures AOF can extend credit to newer ventures while managing risk appropriately, and makes it a great option for experienced industry workers who may want to start their own business.
borrower requirements
| Minimum annual revenue |
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| Minimum time in business |
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| Minimum credit score |
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Each loan product has its own eligibility requirements for borrowers.
AOF’s business term loan has lower eligibility requirements than some competing companies, is not available to business owners in Montana, North Dakota, South Dakota, Tennessee, Vermont, or Washington, DC.
Required documents
Being prepared with the right documents can help speed up the application process. Depending on the loan product you choose, you may need the following required documents:
- Two years of business tax returns
- One to two years of business tax returns (especially those showing industry experience)
- Documentation showing relevant industry experience
- Proof of business ownership
- Business plan or business licenses
Alternatives to
| Bluevine | |||
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| Minimum credit score |
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| Loan products offered |
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| Time to funding |
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| As little as 24 hours after approval |
| Starting rate |
| Not disclosed | Not disclosed |
| Maximum loan size |
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| Minimum annual revenue |
| Recent monthly revenue of $3,000 | for line of credit |
vs.
While AOF offers multiple business funding options, business line of credit is also a good option for businesses that may need fast funding or have a relatively low monthly revenue of around $3,000. This may be easier to obtain than the $50,000 a year AOF wants to see for its small business term loans.
That said, AOF’s dedicated loan products and SBA loans make it a competitive choice for many lenders. You may be able to borrow more or take advantage of different specialized loan products. Food truck owners with a year of experience, for example, could benefit from AOF’s food truck loan offering.
Learn more about business lines of credit.
vs. Bluevine
Bluevine offers term and SBA loans through lending partners, which may have their own conditions around APR ranges and origination fees. However, a distinct advantage of a Bluevine line of credit compared to AOF’s products is that there are no origination fees, plus it offers swift funding for its line of credit when you open a Bluevine checking account.
However, some of AOF’s products require slightly lower minimum credit scores and annual income. Bluevine’s line of credit requires a minimum annual revenue, for example, while AOF’s small business term loan requires only a annual revenue.
And again, AOF’s more dedicated solutions for commercial truck loans and food truck loans may be well suited to certain borrowers.
That said, check the location eligibility requirements, as some loan products are only offered in select states or aren’t offered in others. Businesses operating in North Dakota, South Dakota, Tennessee, Montana, Vermont and District of Columbia aren’t eligible for AOF’s SBA loans, for example, and businesses must be operating in California to be eligible for food truck financing.
Learn more about Bluevine.
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