Fresno CDFI joined the State of California CalCAP program. This program provides matching funds into a loan loss reserve which will enable us to assist more entrepreneurs who want to start businesses.
Fresno CDFI lent over $720,000 in American Recovery and Reinvestment Act (ARRA) funds across 19 loans, resulting in the creation/retention of 317 jobs. A Revolving ARRA Job-Creation Fund continues to assist businesses who are expanding their employment.
Fresno CDFI became a Small Business Administration (SBA) intermediary microlender with a $271,300 infusion from the SBA. These funds enable Fresno CDFI to meet the need of small businesses throughout the Central Valley. The funds are specifically for businesses looking for a loan of $50,000 or less.
Fresno CDFI started a rural microenterprise fund with $605,000 in loan and grant funds from the USDA. These funds enable us to extend our services to businesses located in rural communities with populations less than 50,000.