Prestamos CDFI, LLC (“Prestamos”), is a Community Development Financial Institution(“CDFI”) and a Community Development Entity(“CDE”) that provides high-quality financial products and services for small businesses and impactful economic development projects. Prestamos through its parent corporation, Chicanos Por La Causa, Inc., has administered a variety of lending programs since 1980. In light of the success of its loan programs and the continued need and demand for these services, CPLC created Prestamos CDFI, LLC in 2000. Prestamos successfully promotes economic and community development in order to create jobs, revitalize communities and facilitate community wealth building.
What is a Community Development Financial Institution
CDFI Certification and CRA: Community Development Financial Institutions (CDFIs) are private-sector, financial intermediaries with community development as their primary mission. CDFIs supply the tools enabling economically disadvantaged individuals and underserved communities to become self-sufficient stakeholders in their own future. These tools include providing financial services, loans, and investments; offering training and technical assistance services; and promoting development efforts that enable individuals and communities to effectively use credit and capital.
Community Reinvestment Act (CRA) regulations explicitly recognize loans and investments in CDFIs as a qualified CRA activity.