Micro Loans

NEW MICROLOAN PRODUCTS AVAILABLE

In these challenging times, the weight of economic catastrophe is falling squarely on the shoulders of small business owners in America. With this in mind, Prestamos CDFI has made available several microloan packages to help small businesses meet the challenges they are facing.

It can be difficult to get access to small amounts of funds through traditional lending channels. Sometimes a business simply needs a bump in capital to fix or purchase equipment, start a new product line, expand its staff or fleet, or adapt to the current, unique business environment.

The Prestamos CDFI microloan product line helps solve these obstacles. Select the microloan that best suits your needs. Click on one of the learn more buttons below to get more information on that specific product and fill out the form on that page to get the process started.

• Mini Microloan $1500-$5000
• Mid Microloan $5000-$15000
• Mega Microloan $15000-$50000

OUR STANDARD MICROLOANS

(Up to $50,000)

What are Microloans?

Micro Loans have been a big factor in helping to support business owners by offering smaller dollar amount loans. They can help get by in situations of business distress or to allow for growth into new products and services without leveraging a significant amount of collateral.

Prestamos provides microloans up to $50,000 at a fairly low-interest rate and they usually have a 5-year payback term. Smaller loans such as these can be difficult to get from traditional lenders because they take nearly the same amount of effort to manage but have a significantly lower profit margin for the lending institution. Prestamos avails a Micro Loan Program to the community because we see its potential to elevate business ownership and build wealth in targeted communities.

A micro-loan can be the difference between success or failure for a small business owner when the funds are invested in a smart way. They are generally pretty low-risk simply due to the nature of their size and often are paid back quickly with an affordable payment plan. They can even help prepare an entrepreneur to borrow larger amounts in the future to expand their business by building a strong credit profile.