Economic Development

The foundation of any healthy and vibrant community is the economic wellbeing of its residents. To this end, CPLC consistently pursues the development of programs and services key to the creation of sustainable economic opportunities. CPLC’s cadre of economic development programs and services were developed with the following goals:

  • Building wealth
  • Providing opportunity
  • Promoting sustainability

CPLC programs and services encourage community members to take control of their lives by generating income through jobs and businesses. Additionally, services are designed to provide opportunities for personal growth and increased business-related skill building. A key element of CPLC’s economic development activities:

  • Creation and maintenance of retail and commercial properties aimed at creating jobs
  • Eliminating blight
  • Promoting small business development
  • Increasing the community’s tax base
  • Improving the infrastructure of the south Phoenix central corridor

Prestamos CDFI, a wholly owned CPLC subsidiary, provides economic opportunities for small and emerging businesses in Arizona and Nevada. The program provides business loans along with technical assistance to small businesses that do not qualify for traditional bank financing. The program focuses on serving businesses located in low income communities as well as minority and women owned businesses. Since inception, Prestamos has provided over $50 million in loans supporting more than 400 businesses. Prestamos is certified as a Community Development Financial Institution (CDFI) by the US Treasury.

Small Business Lending

CPLC has been lending to small business since 1980. High demand for this service led CPLC to formalize their lending activities in 2000 and create a wholly owned subsidiary “Prestamos CDFI, LLC”. Prestamo’s mission is to build stronger communities by providing access to affordable capital through non-traditional small business financing resources in Arizona, Nevada, and New Mexico.

Prestamos is committed to addressing the lack of access to affordable capital and provides economic opportunities for small and emerging small businesses to start and grow. Since its inception, Prestamos has provided more than $50 million in loans supporting more than 400 businesses.

Prestamos loan products are designed to address common barriers to capital such as
  1. 1) Lack of collateral
  2. 2) Credit blemishes
  3. 3) Insufficient equity and or cash flow

In addition, Prestamos provides technical support to its clients.

Prestamos Loan Products:
  • Micro-Loans ($5,000 - $50,000)
  • Small Business Loans ($50,000 - $500,000)
  • SBA-Community Advantage Loans ($100,000-250,000)
For more information contact:
1 (855) 849-2752prestamosloans@cplc.org