FAHF President and CEO Dora Westerlund recently secured the purchase of the Berkeley Building for $1 with plans to renovate it for future retail space and business incubator offices. There is.Photo credit: Frank Lopez
Written by Frank Lopez
The Fresno organization, whose mission is to support and grow local entrepreneurship, has steadily expanded its services and reach in recent years and is seeking more space to house its activities .
The Fresno Area Hispanic Foundation (FAHF) was founded in 2001 by a group of local business owners dedicated to supporting the Hispanic business community.
Today, FAHF is a key partner in financing, training, and supporting small, minority-owned, and women-owned businesses, as well as entrepreneurs, local governments, nonprofits, and other organizations that invest in community well-being. It is also a network of partnerships.
Last week, the Fresno City Council and Fresno Revitalization Corporation approved the sale of the Berkeley Building at 887 Fulton Street, across from Home Run Alley in Chukchansi Park, for $1.
The two-story building, dubbed “887 Fulton” by the FAHF, was valued at $81,000, measures approximately 11,250 square feet, and was built in 1960.
Fulton’s other home
Dora Westerlund, FAHF founder, CEO and president, said she had been looking for a new property for about a year to accommodate FAHF’s expansion.
“We’re looking for something really great, something we can be proud of and something the community can benefit from,” she said.
The building had been vacant for a long time and suffered extensive water damage to the roof and interior, according to city documents.
The property will be in escrow for the next six months, during which time Westerlund will need to do due diligence to learn more about the property and figure out exactly what renovations will be needed.
FAHF is applying for a federal grant to fund this project. The exact timing is unknown.
She said the first floor will consist of commercial retail space, and the second floor will be offices for small businesses and entrepreneurs who don’t have an office.
According to the FAHF Disposal and Development Agreement, the implementation schedule is set at 18 months for plan submission and approval, and 24 months from construction to certification of occupancy approval. Mayor Jerry Dyer told Westerland at last week’s City Council meeting to let the city know of any issues that arise to expedite the permitting process.
forward momentum
Funding for the building renovation will come from a $3 million U.S. Economic Development Program grant, $750,000 and an in-kind grant of FAFH stock.
Westerlund said the FAHF team is excited about its 20-year track record of supporting small and medium-sized businesses, with more than 35,000 businesses benefiting from technical assistance, funding, workshops and other resources. .
“This hub really is a hub where we can meet the needs of small and medium-sized businesses,” Westerlund said.
The foundation has experienced significant growth following the pandemic and has become an essential resource for the business community taking advantage of the Paycheck Protection Program and various grants from the City of Fresno and other agencies.
FAHF has a Community Development Financial Institution funding program that assists businesses that are having difficulty obtaining financing.
They offer FAHF Loan Funds up to $15,000 per applicant, USDA Local Small Business Assistance Program up to $50,000, and Coalinga Revolving Loan Fund up to $75,000 for Coalinga businesses only .
FAHF is also partnering with Fresno County to provide grants and technical assistance of up to $4,000 to mobile food vendors operating within the county.
Support when you need it
In the midst of the pandemic, FAHF launched a virtual cohort program, “Latinapreneur/Womanpreneur,” to help minority women owners pivot and market their products and services during the pandemic.
The FAFH Consumer Loan Program serves a variety of financial needs, including refinancing high-interest debt, emergencies, unexpected expenses like car or home repairs, and purchasing appliances.
The Downtown Business Hub (FAHF headquarters at 1444 Fulton Street, a few blocks north of the new building) had its grand opening in 2011. The first bilingual business incubator in the western United States.
The 13,000 square foot Downtown Business Hub was purchased and renovated as a business incubator. It also serves as a virtual office space for small owners who reside in another state or city but need a professional business address.
Mobile phone business owners can also use it as a temporary station for using the internet, telephone, and meeting rooms.
Westerlund said cities need vibrant downtowns, and 15 years ago he envisioned FAHF establishing a base in downtown Fresno and beginning revitalization efforts.
She believes 887 Fulton will attract more businesses and people to the area.
“I intend to expand our vision with the new building with people who want to come to downtown Fresno and enjoy the grounds, work and have fun,” Westerlund said.
