Fresno CDFI

Fresno CDFI - More Than Just a New Look

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.

Fresno CDFI staff sat down with her and developed a business plan that gives her a clear picture of where she wants to take her business in the next few years. She was funded for the purchase of equipment & inventory.

“Fresno CDFI has given me the opportunity to expand my business. I’m now able to offer my customers more cloth and design choices, remodel my store, and attract more business.” Says Ly.

Despite the new look, Fresno CDFI hasn’t forgotten its roots: small farmers still make up a majority of the portfolio. On January 22nd, 20 borrowers attended a workshop on filing taxes, crop insurance, pest control, business financial planning, and other topics important to the success of a farming operation.

Over the years, the micro-loan program has moved minority farmers towards better farming and accounting practices and will continue to do so into the future.

Fresno CDFI is located in the Executive Plaza, 1900 Mariposa Mall Building in Suite 210. For more information call 559 263-1351.