A new partnership between Access Plus Capital and Community West Bank will increase funding opportunities for small businesses in Fresno, particularly those owned by minorities. The $1 million investment from Community West Bank will support the nonprofit’s mission to promote economic growth and equity.
Access Plus Capital, founded in 2008, has already provided over $60 million in financing to 1,500 businesses, creating 3,000 jobs. The organization offers various funding options, including 75% of startup costs for new businesses and loans for existing ventures.
The partnership aims to bridge the financial gap faced by many entrepreneurs in Fresno County. According to Community West Bank’s president and CEO James Kim, “This investment helps those business owners who have difficulty securing funding.”
Since its founding, Access Plus Capital has made a significant impact on the local community. In 2023, the organization provided $6 million in funding to 104 businesses, with 91% owned by minorities. Fresno County received over 50% of these funds.
The partnership between Access Plus Capital and Community West Bank demonstrates the power of collaboration in promoting economic growth and equity in underserved communities.
Source: https://gvwire.com/2024/12/23/1m-investment-in-fresno-lender-to-help-small-businesses-get-funding