CDFI lender providing small business loans and no-cost business coaching to entrepreneurs in Las Vegas and Arizona, with a focus on underserved communities.
Editorially reviewed by Harvey Brooks
Prestamos CDFI is a Community Development Financial Institution (CDFI) operating across Arizona with a Las Vegas presence, focused on providing comprehensive financial solutions to small business owners and entrepreneurs. The organization has been recognized as one of Arizona's Best Places to Work, indicating a commitment to both client service and employee satisfaction.
The company offers business loans paired with no-cost business coaching and education events designed to support business growth at every stage. Their service model combines financial products with business advisory services, recognizing that capital alone is insufficient for sustainable business success. They market their approach as a "holistic approach to business financing" that addresses both immediate capital needs and long-term business development.
Prestamos CDFI distinguishes itself through demonstrated community impact and a track record of supporting diverse business owners. Their success stories span various industries—retail, food service, wellness, pet services, and federal contracting—and showcase businesses ranging from startups to established 35+ year operations. The organization appears to prioritize serving minority and underrepresented entrepreneurs, as evidenced by case studies highlighting women owners, Hispanic-owned businesses, and minority business owners seeking federal contracts.
While the website effectively demonstrates impact through success stories, specific loan terms, APR rates, loan amounts, and approval timelines are not disclosed. The company's CDFI status suggests mission-driven lending with potentially favorable terms compared to traditional lenders, but prospective borrowers would need to contact the organization directly for detailed product information and eligibility criteria.
Yes. Prestamos CDFI - Las Vegas is a registered company headquartered in 555 N Maryland Pkwy, Las Vegas, NV 89101. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Prestamos CDFI is best suited for small business owners and entrepreneurs—particularly from underrepresented communities—who need both capital and business guidance to launch or grow their ventures. The main caveat is that specific loan terms, rates, and application procedures are not disclosed online, requiring direct contact with the organization to understand actual lending parameters and eligibility.
Online car-buying concierge that handles negotiations, financing, and paperwork for buyers — free to consumers, with home delivery and remote signing available nationwide.
Best for: Car buyers who want to avoid negotiating at a dealership entirely, Consumers seeking vehicle delivery to their home without an in-person dealer visit
5 Star Funding Group offers a broad range of commercial financing solutions including SBA loans, equipment financing, merchant cash advances, and commercial real estate loans for businesses of all sizes.
Best for: Business owners needing specialized financing (equipment, real estate, franchise, or church loans), Entrepreneurs with non-traditional income or credit who need customized lending solutions
Community Development Financial Institution (CDFI) headquartered in Las Vegas offering affordable small business loans, micro loans, and contract financing to Nevada entrepreneurs underserved by traditional banks.
Best for: Nevada-based small business owners and startups rejected by traditional banks due to limited credit history or collateral, Entrepreneurs currently paying high-interest or predatory loans looking to refinance with affordable alternatives
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the fastest way to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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