The Department of Commerce Economic Development Administration awarded a $800,000 Project Grant to the Fresno Area Hispanic Foundation under the BUILD TO SCALE federal grant program (CFDA 11.024). The grant will support the development of a $800,000 financial capital seed fund to provide early-stage financing and technical assistance to startup and small businesses in Fresno, California through September 2024. Specifically, the Fresno Area Hispanic Foundation will form an LLC to operate and manage the seed fund, organize angel investor conferences, conduct outreach to investors, and deliver mentoring to entrepreneurial enterprises in the Central Valley region. The goal is to strengthen the local entrepreneurial ecosystem, improve access to seed capital for small and disadvantaged businesses, and enhance the sustainability of startups in the Fresno area.
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