Yery Olivares, chief operating officer of the foundation, saw first-hand the obstacles rural communities face when seeking financial resources.
For years, people have stopped by the Fresno Area Hispanic Foundation to ask about affordable consumer loans.
“We were asked a lot of questions like, ‘Do you also provide personal loans? “, Said Olivares.
The foundation is focused on providing free assistance and affordable financing for small businesses, but Olivares says that with high demand from people seeking personal financial support, they have taken action.
After a year of hard work behind the scenes, they officially announced their new service which offers personal loans ranging from $ 500 to $ 2,500.
“We’re really looking to target people that we can help, we can refinance their current debt so that we can offer them something affordable.”
They partnered with Wells Fargo, which is providing $ 300,000 for the program.
Tim Rios, Senior Vice President and Head of Rural Strategy for Wells Fargo, says they have been involved with the foundation since its launch over 15 years ago and understand the significant impact these loans can have. .
“My mother would have been ideal for the program. We had the $ 1,000 we needed to fix a car … and I hope this program will help the mothers, fathers and families who have these needs,” said said Rios.
The foundation has already started helping a handful of people with the application process and can’t wait to help even more.
“We know the need is huge and we are ready to get this funding,” Olivares said.
If you have any questions, you can find the foundation on Facebook or call them at (559) 222-8705.
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