 Are you a business-minded refugee or asylee?
Do you know a refugee or asylee who is ready to start or expand a business? We can help!- business training including marketing, managing, accounting, etc.
- business planning, preparation of financial and loan packets, business licenses and permits
- referrals to other agencies or lenders that can assist your business
- lending up to $15,000 to start or expand your business
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 Back in early 2007, Zia Thea Xiong turned to the Fresno County Economic Opportunities Commission for a lifeline -- a $20,000, no-interest loan that allowed him to stay in business after a Valley-wide freeze devastated his vegetable crops.
"I had to pay my workers," Xiong, a 47-year-old former refugee from Laos, said as he led a recent tour of his revitalized and newly expanded 77-acre farm east of Fresno.
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 | | Borrower Sureewan Ly, Owner of SL Alterations & Design |
Fresno CDFI has a new look and an expanding focus. Along with a new logo, and website, the lending agency has raised its lending limits and is aggressively expanding the types of businesses it serves.
Because the Institution began as a Fresno County EOC micro-loan program in 1994, most of its borrowers are minority small farmers who use funds to purchase equipment and operate their farms. However, this is changing.
“We realize that in these tough times, many sectors of the economy are in dire need of financing. We want to reach out and help them strengthen their businesses through financing and technical assistance.” Says Salam Nalia, Fresno CDFI CEO.
Sureewan Ly is the type of borrower Nalia is talking about. A seamstress who owns SL Alterations & Design, Ly applied for funds to expand her inventory and hire a part-time employee. Despite the recession, business remains strong for Ly. People are maintaining and repairing old clothes rather than buy new ones. She needed a helping hand to take her business to the next level. |
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 What is Bank on Fresno?
Fresno is one of five cities selected for Governor Schwarzenegger's Bank on California Initiative, a non-traditional approach to ensure every resident has access to mainstream financial institutions. Bank on Fresno is a joint effort of the Office of the Governor, Office of the Mayor, Federal Deposit Insurance Corporation, local Financial Institutions, and Nonprofit Organizations. With United Way of Fresno County serving as the organizing agent, the coalition set a goal to start 10,000 unbanked Fresno residents on the path to financial mobility by helping them open a low-cost, starter bank account and access the education necessary to manage it successfully.
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