Prestamos CDFI to Provide Emerging Micro-Entrepreneurs Help to Gain Access to Capital Grants

Prestamos CDFI, a division of Chicanos Por La Causa (CPLC), is excited to be the recipient, for a third year in a row, of the U.S. Small Business Administration (SBA) Program for Investment in Micro-Entrepreneurs (PRIME). Through this grant, Prestamos CDFI will be able to support 700 disadvantaged small businesses by providing training and technical assistance, including webinars, workshops, partner trainings and in-person training sessions in the following states/areas: Arizona, Colorado, Southern California, New Mexico, Nevada and Texas.

The SBA program has a one-year period, and through a network of a diverse group of partners will help strengthen economically disadvantaged businesses. Prestamos CDFI is working with Local First’s Fuerza Local (Rural Program), Grand Canyon University and others that service entrepreneurs in rural areas, indigenous communities and Spanish-speaking small business owners.

“Our SBA PRIME grants provide critical support for nonprofit organizations that are delivering needed technical assistance and training to America’s small businesses so they can continue to power our nation’s strong economic recovery and transition to strong, stable growth,” said SBA Administrator Isabella Casillas Guzman. “This year, the SBA focused our PRIME grant selection process on our nonprofit partners who can best bring federal resources to life, especially in the regions and communities where they are needed most. I look forward to working with these organizations as they help us connect America’s entrepreneurs with the capital they need to start, grow and build resilient businesses.”

“The SBA PRIME grant has been crucial support allowing us to reach highly underserved communities over the last two years,” said Jose Martinez, President of Prestamos CDFI and Executive Vice President of Economic Development at Chicanos Por La Causa. “Capital access and business resources continue to be a challenge for entrepreneurs of color and rural microbusinesses, and we commend The SBA for their continued investment into these communities. We are proud to partner and be part of the solution.”