Member Success Stories – Fresno Area Hispanic Foundation (FAHF) And CBA Fund: Strengthening Community and Changing Lives with Small Dollar Loans (OFN)

CBA Fund, CBA’s CDFI Intermediary, is a Community Development Financial Institution (CDFI) intermediary dedicated to catalyzing and growing the capacity of nonprofit lenders to offer small dollar, credit building consumer loans. Many community-based organizations see a need for safe and affordable small dollar consumer loans in their communities but do not have the resources to implement a solution. CBA Fund’s mission is to expand the capacity of nonprofit lenders, like Fresno Area Hispanic Foundation (FAHF), to develop strategies to support the growth of the Fresno-area community through technical assistance, outreach, advocacy, and access to capital.

The CBA Fund loan was so attractive because of its low interest, and it was an amount we could manage as a just-starting CDFI,” explained FAHF Corporate Relations and Program Director Yurubi Ramirez. “With CBA, we didn’t just get funding; we got training in the consumer loan product, advice on how to develop our program, and even what to ask loan recipients.

FAFH’s multipurpose consumer loans provide flexible financing options paired with financial education. Their consumer loans range in size from $500 to $3,000 and carry an interest rate of 12%.

Thanks to the generous support from Opportunity Finance Network’s Finance Justice Fund, CBA Fund was able to support organizations like Fresno Area Hispanic Foundation.