Technical assistance

Grant to Minority-Owned Valley Small Businesses for Economic Recovery


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FRESNO, Calif. (KFSN) – In downtown Fresno, a check for $ 3.25 million has been presented to nonprofits and financial institutions that lend to low-income entrepreneurs.

The grant comes from the Wells Fargo “Open for Business Fund”.

“Our goal is to create an ecosystem of business resource partners that will allow our small businesses to have equitable access to capital, because at the end of the day, that’s what it is,” Cassandra said. Little, General Manager of the Fresno Metro Black Chamber.

Five organizations in the Central Valley will provide minority business owners with funding and resources to continue to grow beyond the pandemic.

“This funding will have a huge immediate impact by investing directly in over 2,500 small minority-owned businesses, the lifeblood of our community,” said Fresno Area Hispanic Foundation Executive Director Dora Westerlund.

Tate Hill is the Executive Director of Access Plus Capital, a micro-lender for entrepreneurs who need flexible credit and business coaching.

“Applying for a loan can be a challenge and trying to get that loan now during COVID can be even more difficult,” she said.

The funding allows them to lend to more business owners who want to start or rebuild.

The Asian Business Institute and Resource Center will use the grant to continue providing technical assistance such as marketing and financial planning to Asian business owners.

“It gives opportunities to communities like ours, we serve Southeast Asians,” said Blong Xiong. “Those with limited English have a good chance of getting the dollars they also need to survive and prosper.”

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