Need a $500 personal loan? The Fresno Area Hispanic Foundation could help
The foundation will provide personal loans ranging from $500 to $2,500 for families primarily in rural communities.
FRESNO, Calif. (KFSN) -- The Fresno Area Hispanic Foundation is taking action to provide affordable loans for families primarily in rural communities.
Yery Olivares, Chief Operating Officer of the foundation, has seen firsthand the barriers rural communities face when searching for financial resources.
For years, people have stopped by the Fresno Area Hispanic Foundation to ask about affordable consumer loans.
"We would get asked a lot of questions like, 'Do you also provide personal loans?'," said Olivares.
The foundation focuses on providing free assistance and affordable financing for small businesses, but Olivares says with the high demand of people searching for personal financial support, they took action.
After a year of hard work behind the scenes, they've officially announced their new service that provides personal loans ranging from $500 to $2,500.
"We are really looking to target those individuals that we can help, we can refinance their current debt so that we can give them something that is affordable."
They partnered with Wells Fargo, which is providing $300,000 for the program.
Tim Rios, SVP & Rural Strategy Leader for Wells Fargo, says they've been involved with the foundation since it launched over 15 years ago and understand the meaningful impact these loans can make.
"My mother would have been ideal for the program. We had those $1000 we needed to fix a car... and I hope this program will help mothers and fathers and families who have those needs," said Rios.
The foundation has already started helping a handful of people with the application process and looks forward to helping even more.
"We know the need is huge and we are ready to get this funding out," said Olivares.
If you have any questions you can find the foundation on Facebook, or call them at (559) 222-8705.
