2nd Quarter 2010 News Fresno CDFI Energizes Local Business An energy drink that combines protein and tastes like coffee? It sounds like a workout buff’s dream come true! Click Co. – the developer, manufacturer and distributor of Click, a unique product that combines protein supplements and espresso – and founders Greg and Beth Smith made this dream, their dream, a reality in 2008 when their product hit store shelves across the nation and Canada. Click was an instant success.
But the Smith’s personal dream of expanding the product line with new flavors was halted when our economic environment took a turn for the worse; banks were leery of lending, let alone to a start-up business. The Smiths believed that a great business opportunity would pass them by if they didn’t receive the financial support needed to expand their line of products. It was then that they learned of Fresno CDFI and applied for a microloan; the couple was able to secure $30,000 for the expansion and promotion of the new Click line. Today Click Co.'s new flavor, Vanilla Latte, is doing well and has been rated as one of the "#1 Hot New Releases" in the protein category at Amazon.com. Along with this achievement Click Co. has begun sending their first shipments to GNC and has finalized an agreement with Drugstore.com. The closing of another deal with Vitamin Shoppe is also on the horizon. Click Co.'s success exemplifies how Fresno CDFI’s services can be a valuable resource in small business development.
To check out their products go to www.drinkclick.com. To check out their products go to www.drinkclick.com.
30th Anniversary - Refugee Act of 1980
This year marks the 30th anniversary of the Refugee Act of 1980 – legislation that resulted in the resettlement of millions of refugees in the United States and officially defined a “refugee” as “any person unable or unwilling to return to his or her country because of persecution or a well-founded fear of persecution on account of race, religion, nationality, membership in a particular social group, or political opinion.”
In the tradition of helping immigrants and refugees in need, Fresno CDFI is committed to providing microenterprise development for the refugee community by providing initial funding up to $35,000 to refugees who are ready to start a business in Fresno County. Although Fresno CDFI is a lending institution we provide many more services including business training in marketing, managing, bookkeeping and networking, business planning, preparation of financial and loan packets, business licenses and permits, and referrals to other agencies / lenders that can provided further assistance. Read about the Refugee Act of 1980 from the ORR Take a look at our services and programs here...
Free Business Training Seminars Provided by SCOREA member of the Fresno chapter of SCORE, Woody Alexander, along with other professionals will be providing free training seminars to those who would like to start a business or would like to receive valuable business training. Mr. Alexander has a BS in Business Administration from the University of Colorado and a MBA from the University of Missouri. Currently he is a business consultant with Pillar Financial Group and has more than 30 years of experience in Marketing, Finance and International Business. The following dates are available: Financial Projections, Wednesday, April 13, 2010, 10am to 11:30am Funding Sources & Next Steps, Wednesday, April 20, 2010, 10am to 11:30am Location: SBA District Office, 2719 N Air Fresno Drive, Fresno, Ca Registration: Call: William Hori: 559-487-5605 or Email: William.hori@sba.gov Please arrive 15 minutes early for registration sign-in.
Hiring Incentives to Restore Employment (HIRE) Act Becomes Law
On March 18 of this year the HIRE Act was enacted into law. The purpose of this act is to stimulate the economy and encourage employment. This new act contains payroll incentives for employers to encourage employee retention as well as the hiring of new employees who were previously unemployed. Although the HIRE Act has eligibility requirements many employers should be able to receive its benefits. Read the IRS Newswire release on the HIRE Act here...
The EDC BEAR Action Network will be providing training sessions for interested employers once the forms become available. If you are interested in joining one of these sessions contact Ed Guerra at eguerra@fresnoedc.com.
Learn more about the EDC and the BEAR Action Network...
About Fresno CDFIOur vision...
at Fresno CDFI is to be a comprehensive financial services, financial education, and information access institution for low and moderate-income residents and businesspersons. We offer financing services, including financing the start-up and expansion of small and micro business enterprises.
Our purpose...
is to stimulate reinvestment in urban and rural neighborhoods in the City and County of Fresno through a partnership of neighborhood residents, the business community, representatives of local government and financial institutions, and other interested persons, working together through a professionally staffed, neighborhood-based, nonprofit corporation. Find out more about our Loan and Financial Assistance Programs |