Arvest Opportunity Fund
Arvest Bank is committed to bringing opportunity to all groups in the markets we serve. Because many individuals, families and small businesses in the Arvest footprint are underbanked, we continue to increase our efforts in providing products, services and financial educational opportunities to those groups.
A new component of these efforts is the Arvest Opportunity Fund, a wholly owned non-bank subsidiary of Arvest Bank currently providing loans to small businesses that fall just below bank credit requirements. The Arvest Opportunity Fund serves as a bridge, providing financial and educational assistance. Its goal is to help customers move from their current state to a position in which they are able to fully access traditional bank products and services.
The most common reasons applicants may not meet bank requirements include insufficient credit scores, thin credit files or cash flow challenges. With those reasons in mind, the Arvest Opportunity Fund's financial education emphasis includes budgeting, improving credit and recordkeeping, the importance of establishing a savings plan, goal setting and more.
As part of the loan agreement, Arvest Opportunity Fund loan recipients agree to receive financial education through the first 12 months after funding. The financial education program, provided by community partners, is designed to improve the financial standing of recipients to the point where they meet traditional bank standards.
Arvest Opportunity Fund loans are delivered through Arvest Bank. Applicants can choose to be considered for an Arvest Opportunity Fund loan when they apply for an Arvest loan. If interested in starting a loan application, please visit here.
The Arvest Opportunity Fund also offers the Arvest Homebuyer Advantage, a joint venture with Arvest Bank. This mortgage product is designed to help first-time homebuyers who don’t have a sufficient down payment available to purchase a home.
Buyers who qualify also have the added benefit of avoiding the private mortgage insurance requirement and will be able to pay off 20 percent of their mortgage in 15 years. For full product details, please visit a mortgage lender in your area.
We believe Arvest Opportunity Fund loans may improve the financial health of our customers and communities and can make them less dependent on other high-cost financial services. In addition to being the right way to do business, Arvest believes these efforts are crucial to the economic health, stability and security of the communities we serve.
The Arvest Opportunity Fund is committed to investing in people through finance and education.