CPLC Préstamos CDFI, LLC (a Chicanos Por La Causa, Inc. subsidiary), committed to building stronger communities by providing small business access to capital, in partnership with local valley leaders, have created the Community Investment Fund – a group project of Valley Leadership’s Class 35, to support entrepreneurs looking to start-up or expand their business in the Phoenix metropolitan area.
“We are very excited to give local entrepreneurs, who do not qualify for traditional financing, an opportunity to improve the health of our community and contribute to Arizona’s economy,” said Brigitte Dayton, Member of VL 35. “Our Valley Leadership, Class 35 group is proud to partner with a long-standing community organization such as Chicanos Por La Causa on this project. We all feel the emphasis on targeting organizations or individuals who demonstrate a focus on improving the health of our community and/or contributing to the growth of the economy, through the potential for job creation, fills a unique role in local micro-lending.”
“Any current or aspiring entrepreneur who wishes to establish or grow a business, but who due to size, assets, and stage of development cannot seek capital from more traditional sources, is encouraged to apply for a loan today,” said Jose Martinez, President of CPLC Préstamos. “These loans range from $20,000 to $25,000 depending on the applicant, business plan and distinctiveness of the entrepreneurial idea.”
Top qualified applicants will compete in a business “Pitch Day” event where they will have the opportunity to pitch their business concept and funding needs to a panel on May 23, 2014. The panel will select 3-5 businesses for loan approval. Additionally, the business with the best presentation will win a $2,500 cash prize.
Interested candidates can apply at www.prestamosloans.org up until Friday, April 25, 2014. Applicants will be notified of loan approval the same day of their presentation, May 23, 2014.