Office of Community and Economic Development
Small Business University Staff Help Female Minority Business Owner Secure a Loan
In September, the Small Business University Program staff created a business plan for a female minority business owner in Fresno so she could secure a loan. The loan would allow the business owner to purchase the location she has been using for the business.
Helping the client secure the property was important in ensuring that the business has long term stability. The financial forecast in the business plan determined that the business will continue seeing growth despite the COVID-19 pandemic. This is important because so many small businesses are being forced to close during this time. With this business plan, we were able to help a minority-owned business owner attain full ownership of the property she was operating in and secure the long-term future of the business. Since the business is Hmong owned and operated and offers a specific service to Hmong people, the Hmong community also benefits from having the business’s future secure.
Bryan Salcedo, Small Business University project assistant and Fresno State graduate, was well prepared to assist in helping this client create her business plan after taking numerous business courses at the Craig School of Business at Fresno State.