Fresno Community Development Financial Institution
Approved to post Kiva loans from: United States
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status update — April 11, 2018
Kiva and Fresno Community Development Institution are ending their partnership after nearly 5 years. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Fresno Community Development Institution for the years of collaboration and wish them success in their future endeavors.
Status Update - April 30, 2015
Kiva has moved this Lending Partner to inactive status. This means Fresno is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance.
Fresno has not had the need to post loans on Kiva as it has access to other funding sources. If and when this partner requests to fundraise loans on Kiva again, we will first conduct any additional monitoring and due diligence tasks we believe necessary.
Partner Description:
Fresno Community Development Financial Institution (Fresno CDFI) provides affordable financing, training and technical assistance to individuals, small businesses and community facilities in Fresno, California. The organization offers loans up to $250,000 to help businesses increase working capital and purchase new equipment.
Founded in 2007 by a community action agency called Fresno Economic Opportunities Commission (EOC), it focuses on low- and moderate-income groups. To date, these two organizations have issued over 300 loans totaling over $7.8 million to improve their clients’ quality of life.
Kiva lenders’ funds are used to expand Fresno CDFI’s microenterprise loan fund with a focus on loans under $10,000. This is of particular importance to Fresno CDFI because it was initially created with the intention of serving borrowers in need of smaller loans.
Fresno CDFI’s Impact:
Fresno CDFI loan offerings include refugee microenterprise loans, enterprise development loans, community facility loans, employee emergency loans and more. The organization’s loan products are designed to match the needs and of the clients considering their affordability. For example, the refugee microenterprise loan is specifically designed for refugees with weak or no credit history, who may lack sufficient collateral. Enterprise and Community Development loans provide up to $250,000 designed for micro enterprises to expand their business.
In addition, the organization provides specialized business development accounts, technology training and business development training that include a corporate turnaround toolkit to help business evaluate and restructure debt.
Since 2009, Fresno CDFI has continuously expanded its loan products and technical assistance in order to meet the needs of its members. To date, Fresno CDFI has deployed 240 commercial loans totaling over $6.7 million to micro- and small-businesses throughout the San Joaquin Valley. These loans ranged from $1,600 to $250,000 and targeted low- to moderate-income entrepreneurs.
A business owner who used a loan from Fresno CDFI to expand her inventory and hire a part-time employee.
Working with CAMEO:
Fresno CDFI has partnered with Kiva and CAMEO (California Association for Microenterprise Opportunity) to promote microlending in California. In this partnership, CAMEO serves to support California microlenders, such as Fresno CDFI, throughout its partnership with Kiva.
About CAMEO:
CAMEO’s mission is to grow a healthy, vibrant, thriving environment for all entrepreneurs and start-up businesses by advancing the work of its statewide member network. CAMEO believes a strong local entrepreneurial climate builds wealth and develops strong California communities.
CAMEO’s member organizations, a network of 55 training and 35 lending institutions, provide entrepreneurs with small and micro-business financing, asset-building programs, business technical assistance and business management training. In 2011, CAMEO members served 21,000 very small businesses with training, business and credit assistance and loans. These firms -- largely start-ups with less than five employees -- supported or created 37,000 new jobs in California.
CAMEO considers itself the voice of micro-business in California and nationally to promote the economic impacts of micro-business and self-employment. CAMEO serves to expand resources and build the capacity of its member organizations to increase business assistance and lending to underserved communities.
The CAMEO-Kiva collaboration brings new resources, investors and loan capital into the California micro sector and promotes best practices among microlenders by demanding high standards along with training. The Kiva brand will bring more attention to the economic impact of micro-business. As the largest network of microlenders in California, CAMEO is pleased to partner with Kiva to expand microlending in California.
Image courtesy of Fresno CDFI.
Status update — April 11, 2018
Kiva and Fresno Community Development Institution are ending their partnership after nearly 5 years. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Fresno Community Development Institution for the years of collaboration and wish them success in their future endeavors.
Status Update - April 30, 2015
Kiva has moved this Lending Partner to inactive status. This means Fresno is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance.
Fresno has not had the need to post loans on Kiva as it has access to other funding sources. If and when this partner requests to fundraise loans on Kiva again, we will first conduct any additional monitoring and due diligence tasks we believe necessary.
Partner Description:
Fresno Community Development Financial Institution (Fresno CDFI) provides affordable financing, training and technical assistance to individuals, small businesses and community facilities in Fresno, California. The organization offers loans up to $250,000 to help businesses increase working capital and purchase new equipment.
Founded in 2007 by a community action agency called Fresno Economic Opportunities Commission (EOC), it focuses on low- and moderate-income groups. To date, these two organizations have issued over 300 loans totaling over $7.8 million to improve their clients’ quality of life.
Kiva lenders’ funds are used to expand Fresno CDFI’s microenterprise loan fund with a focus on loans under $10,000. This is of particular importance to Fresno CDFI because it was initially created with the intention of serving borrowers in need of smaller loans.
Fresno CDFI’s Impact:
Fresno CDFI loan offerings include refugee microenterprise loans, enterprise development loans, community facility loans, employee emergency loans and more. The organization’s loan products are designed to match the needs and of the clients considering their affordability. For example, the refugee microenterprise loan is specifically designed for refugees with weak or no credit history, who may lack sufficient collateral. Enterprise and Community Development loans provide up to $250,000 designed for micro enterprises to expand their business.
In addition, the organization provides specialized business development accounts, technology training and business development training that include a corporate turnaround toolkit to help business evaluate and restructure debt.
Since 2009, Fresno CDFI has continuously expanded its loan products and technical assistance in order to meet the needs of its members. To date, Fresno CDFI has deployed 240 commercial loans totaling over $6.7 million to micro- and small-businesses throughout the San Joaquin Valley. These loans ranged from $1,600 to $250,000 and targeted low- to moderate-income entrepreneurs.
A business owner who used a loan from Fresno CDFI to expand her inventory and hire a part-time employee.
Working with CAMEO:
Fresno CDFI has partnered with Kiva and CAMEO (California Association for Microenterprise Opportunity) to promote microlending in California. In this partnership, CAMEO serves to support California microlenders, such as Fresno CDFI, throughout its partnership with Kiva.
About CAMEO:
CAMEO’s mission is to grow a healthy, vibrant, thriving environment for all entrepreneurs and start-up businesses by advancing the work of its statewide member network. CAMEO believes a strong local entrepreneurial climate builds wealth and develops strong California communities.
CAMEO’s member organizations, a network of 55 training and 35 lending institutions, provide entrepreneurs with small and micro-business financing, asset-building programs, business technical assistance and business management training. In 2011, CAMEO members served 21,000 very small businesses with training, business and credit assistance and loans. These firms -- largely start-ups with less than five employees -- supported or created 37,000 new jobs in California.
CAMEO considers itself the voice of micro-business in California and nationally to promote the economic impacts of micro-business and self-employment. CAMEO serves to expand resources and build the capacity of its member organizations to increase business assistance and lending to underserved communities.
The CAMEO-Kiva collaboration brings new resources, investors and loan capital into the California micro sector and promotes best practices among microlenders by demanding high standards along with training. The Kiva brand will bring more attention to the economic impact of micro-business. As the largest network of microlenders in California, CAMEO is pleased to partner with Kiva to expand microlending in California.
Image courtesy of Fresno CDFI.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Dec 13, 2012 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $70,600 | $2,061,427,940 | |
| Amount of raised Inactive loans | $0 | $389,200 | |
| Number of raised Inactive loans | 0 | 318 | |
| Amount of Paying Back Loans | $0 | $151,289,490 | |
| Number of Paying Back Loans | 0 | 180,128 | |
| Amount of Ended Loans | $70,600 | $1,864,455,145 | |
| Number of Ended Loans | 13 | 2,517,146 | |
| Delinquency Rate | 0.00% | 11.61% | |
| Amount in Arrears | $0 | $10,584,537 | |
| Outstanding Portfolio | $0 | $91,136,425 | |
| Number of Loans Delinquent | 0 | 34,410 | |
| Default Rate | 3.13% | 1.83% | |
| Amount of Ended Loans Defaulted | $2,212 | $34,072,925 | |
| Number of Ended Loans Defaulted | 1 | 91,307 | |
| Currency Exchange Loss Rate | 0.00% | 0.47% | |
| Amount of Currency Exchange Loss | $0 | $12,915,654 | |
| Refund Rate | 2.83% | 0.55% | |
| Amount of Refunded Loans | $2,000 | $11,263,070 | |
| Number of Refunded Loans | 1 | 9,868 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 35.71% | 78.52% | |
|---|---|---|---|
| Average Loan Size | $5,186 | $393 | |
| Average Individual Loan Size | $5,186 | $585 | |
| Average Group Loan Size | $0 | $1,914 | |
| Average number of borrowers per group | 0 | 8.3 | |
| Average GDP per capita (PPP) in local country | $54,800 | $5,592 | |
| Average Loan Size / GDP per capita (PPP) | 9.46% | 7.03% | |
| Average Time to Fund a Loan | 14.97 days | 9.14 days | |
| Average Dollars Raised Per Day Per Loan | $346.31 | $43.02 | |
| Average Loan Term | 28.93 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 1 | 1,228,670 | |
|---|---|---|---|
| Journaling Rate | 7.69% | 41.93% | |
| Average Number of Comments Per Journal | 0.00 | 0.02 | |
| Average Number of Recommendations Per Journal | 1.00 | 0.55 |
Borrowing Cost Comparison (based on 2012 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 7% PY | N/A | 27.12% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | N/A | -1.71% | |
| Average Loan Size (% of per capita income) | N/A | N/A | 0.00% |
Country Fast Facts
- Country:
- United States
- Capital:
- Washington DC
- Official Language:
- English (offical) 79.2%, Spanish 12.9%, other Indo-European 3.8%, Asian and Pacific island 3.3%, other 0.9%
- Population:
- 318,892,103
- Avg Annual Income:
- $54,800
- Labor Force:
- farming, forestry, and fishing: 0.7%, manufacturing, extraction, transportation, and crafts: 20.3%, managerial, professional, and technical: 37.3%, sales and office: 24.2%, other services: 17.6%
- Population Below Poverty Line:
- N/A
- Literacy Rate:
- 99%
- Infant Mortality Rate (per 1000):
- 6.17 deaths
- Life Expectancy:
- 78.64 years