The Fresno Area Hispanic Foundation
Overview
The Fresno Area Hispanic Foundation (FAHF) is a non-profit organization established in 2004 to empower Hispanic entrepreneurs and bolster economic development in the Fresno region. Based in Fresno, California, FAHF provides critical resources such as funding, mentoring, and business training to support small businesses, particularly those owned by minorities. The foundation has raised significant funds, including grants from various sources such as the U.S. Economic Development Program, to facilitate business growth and community advancement.
Recent Developments
- 2025: Dora Westerlund, FAHF’s CEO, was recognized as one of The Business Journal's 2025 CEOs of the Year for her outstanding leadership in driving economic growth through the foundation.
- Early 2025: FAHF is partnering with the CalMoneySmart Grant Program to enhance financial literacy among Latinx communities, aiming to create a more inclusive financial ecosystem.
- February 2025: FAHF celebrated its 20th anniversary with a gala event featuring boxing champion Saúl "Canelo" Álvarez, reflecting the foundation's influence and connection with the community.
- 2024: FAHF acquired the Berkeley Building in downtown Fresno for $1 as part of a revitalization project. The building is set to become a hub for small businesses and entrepreneurs, supported by a federal grant of $3 million.
- May 2024: The foundation's purchase of the Berkeley Building was approved, marking a significant expansion in its business incubation initiatives.
- 2023: FAHF offered grants ranging from $1,000 to $7,000 to help struggling businesses in Fresno, furthering its mission to support local economic sustainability.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2004 |
| Headquarters | Fresno, California, USA |
| Founder | Dora Westerlund |
| Revenue | $6,675,419 (2023) |
| Profits | Not publicly disclosed |
| Key Investors | Citi Foundation, Community Development Financial Institutions Fund |
| Industry | Economic Development and Business Support |
| Number of Employees | 1-10 |
Early History
Founded in 2004 by Dora Westerlund, the Fresno Area Hispanic Foundation began its journey with a mission to support Hispanic entrepreneurship in the Central San Joaquin Valley. The organization's initial efforts focused on providing resources for small business incubation and development, which included technical assistance, micro-loans, and entrepreneurial workshops. Over the years, the foundation expanded its reach by establishing the first bilingual business incubator in the western United States. It leveraged community and governmental partnerships to enhance its capabilities, playing a pivotal role in fostering economic self-sufficiency in underserved Hispanic communities.
Company Profile and Achievements
The Fresno Area Hispanic Foundation operates with a business model centered around economic empowerment through entrepreneurship. Its major achievements include:
- Business Incubation: Establishing a bilingual business incubator that provides space and resources to budding entrepreneurs.
- Funding Growth: Raising over $6 million in revenue through grants and donations, with a notable impact seen in its recent expansion to the downtown Fresno area.
- Award Recognition: Received the James Irvine Foundation Leadership Award in 2017, highlighting its innovative solutions in economic development.
- Community Impact: Assisted over 30,000 small businesses with funding, training, and technical support over its 20-year history.
- Partnerships: Collaborated with organizations like CalMoneySmart to advance financial literacy and economic opportunities for Latinx communities.
Current Operations and Market Position
Currently, FAHF is spearheading significant projects aimed at revitalizing downtown Fresno, including the transformation of the Berkeley Building into a business hub. Its strategic initiatives involve expanding financial assistance programs, providing educational resources, and enhancing its business support services. FAHF's impact extends to statewide recognition for fostering entrepreneurship among minority and underserved populations, securing its position as a critical player in the region’s economic development landscape.
Conclusion
The Fresno Area Hispanic Foundation has established itself as a cornerstone for business innovation and economic development in the Fresno region, particularly for the Hispanic community. With ongoing projects like the development of the downtown business hub, FAHF continues to expand its influence and support. As it enters its next decade, the foundation is poised to further its mission of economic empowerment and community building, driven by strategic partnerships and robust funding initiatives.