Loans aim to aid firms owned by people of color, women

American Express contributed $40 million to the Accion Opportunity Fund, which has started issuing loans of up to $100,000 with a goal of strengthening small businesses owned by women, people of color and immigrants. “Our intention is to look at underfunded small businesses that are really looking to get stronger, to reopen, to stabilize and grow in 2021 and beyond,” said Accion CEO Luz Urrutia.