Prestamos is proud to announce the award of $65 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. This year’s award is the single largest granted in Prestamos’ history and represents the highest amount awarded in 2023 among top recipients across the country. Prestamos […]
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Leveraging Opportunities and Overcoming Challenges Small businesses play a vital role in driving employment and economic growth but often face challenges and uncertainties. Small businesses can turn to Artificial Intelligence (AI) as a solution to navigate some of these difficulties and foster continuous development. AI encompassing technologies such as machine learning, natural language processing, and […]
What makes a lender an “Alternative Lender”? This is certainly a question for Small Business owners seeking to apply for capital whether they are an existing business or a start-up, and have faced challenges through normal retail lending channels. Alternative Lenders for the most part are for-profit lenders that are not FDIC insured like traditional […]
Small businesses are the backbone of their communities. They significantly contribute to the economy and provide jobs. To help highlight and support these contributions Saturday, November 26, 2022, is known as Small Business Saturday and is a celebration in support of small businesses and all they do for their communities. Here are a few things […]
It is never too early for businesses and individuals to start thinking and planning for their taxes. With so many efforts around business pandemic-related resources and assistance programs through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) – many business owners can come out feeling confused and overwhelmed with deadlines and next steps. One of […]
According to a study from the U.S. Bank, 82% of businesses that fail are due to a lack of understanding of the impact of cash flow on their business or due to poor management of it. This gives us an idea of the importance for every entrepreneur to know more about this topic. Let’s start […]
Everyday, entrepreneurs are forced to make decisions that have major impacts on their business. These decision are guided by your intuition, trends, habit, or experience. When making a decision that may not be your area of expertise, wouldn’t it be great to have a guide or a mentor that can help you identify potential risks […]
Your online reputation as a business can either drive or decrease sales, customers, and longevity. Online reviews have become the internet’s word of mouth. Before someone makes a purchase or visits a new restaurant, they will often rely on what other consumers like them have to say about their experience. This is why it is […]
According to the U.S. Small Business Administration, Arizona is home to 611,097 small, local businesses which account for 99% of the state’s businesses. It is also estimated that these businesses are employers to 1.1 million individuals which represent 43% of the state’s workforce. But why is this important? Well because the success of Arizona’s small, […]
We all want to make an impact in the world. We want to do something that no matter how big or small it is, it will leave the world better than we found it. For example, have you ever noticed how some food and beverage businesses use paper or biodegradable straws? This small change has […]
The completion of an application does not guarantee loan approval or receipt of loan funds.
Prestamos CDFI adheres to the guidelines set by the Small Business Administration in regards to applicant information and submitted documentation. We will fully cooperate with law enforcement agencies to identify possible fraudulent actors and help prosecute should our participation be requested.
All programs and services may be subject to availability, credit verification, qualification, and approval.