From the Central Valley Business Journal, August 19, 2015
MODESTO — Modesto residents who want to start their own businesses now have a new option for financing.
The city of Modesto, the Stanislaus Business Alliance and the Fresno Community Development Financial Institution have partnered to establish a new revolving loan fund.
The city of Modesto is providing $250,000 from a U.S. Department of Housing and Urban Development Community Development Block grant (CDBG) and Fresno CDFI is matching that amount dollar-for-dollar.
The Stanislaus Business Alliance will provide application assistance and serve as the first point of contact for business owners looking for financing.