Fresno CDFI

A community development financial institution (CDFI) is a private sector, financial intermediary (nonprofit or for profit) with community development as its primary mission. A CDFI provides capital for low income communities and individuals who cannot access the services offered by traditional financial institutions such as banks and credit unions. There are six basic types of CDFIs: community development banks, community development loan funds, community development credit unions, microenterprise funds, community development corporation-based lenders and investors, and community development venture capital funds.

The first step is to check your credit (and the co-applicant if needed).  If there are problems, we will show you how to get these fixed and refer you to a credit counselor.  If your credit looks okay, we start the business planning process where your business plan is reviewed, or if you lack one, we help you write a plan complete with financial projections.  Your business plan and documentation are then sent to a loan committee comprised of volunteer bankers and community leaders who review the plan and make a recommendation.  Final say goes to our management team.  Once approved, Fresno CDFI staff will meet with you to explain any contingincies (liens, tax filings, training, etc) on the loan and the loan repayment schedule.

Typically the process takes 3-4 weeks, providing the applicant has all the necessary documentation.

No.  However we do partner with other non-profits to persue grant opportunities.

Fresno CDFI offers loans up to $250,000 for businesses and non-profits and government programs. Historically as a microlender, the majority of our loans have been in the $10,000 - $35,000 range.