Rosy Salon Software is bringing salons awareness of financial solutions for small businesses by introducing Accion Opportunity Fund Community Development (AOF), a nonprofit lender. As the nation's leading Community Development Financial Institution, AOF makes a commitment to create an inclusive and healthy financial system. Although Rosy will not materially participate in the lending process, the company sees AOF as a valuable resource for its salons.
“We are excited to introduce our salons to Accion Opportunity Fund, a leading nonprofit lender geared for small business loans," says Rosy Salon Software President Jason Foodman. "The small business loans by Accion Opportunity Fund are designed to support salons and provide them with additional resources to help their businesses thrive.”
Through Accion Opportunity Fund, Rosy salons can secure loans that work for their businesses. With transparent and flexible financing, salon owners can qualify with limited documentation. Accion Opportunity Fund also offers business coaching and educational resources for 12 hours each day, with live customer service available in English and Spanish.
“Accion Opportunity Fund looks at more than just a credit score to determine business viability," says AOF Vice President, Sales & Partnerships, Adriana Eiriz. "We take into account cash flow, collateral and, most important, character. We are excited to make our loans available to help salons grow and thrive."
To have an AOF loan approved, salons must have at least 12 months in business and generate $50,000 or more in annual sales. The owner applying for the loan must be 18 years or older and own at least 20 percent of the business. If Accion Opportunity Fund can't offer the salon a loan, it will provide other resources like financial coaching and educational resources to get salons loan-ready.
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