CDFI PPP lenders list
Camino Financial
By: camino-financial
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CDFI PPP lenders list

Here’s a CDFI PPP lenders list divided into specific states.

The PPP program offered loans to support small business owners affected by the COVID pandemic. Unfortunately, the Paycheck Protection Program ended on May 31, 2021.

Still, you can obtain affordable capital to invest in your business today!

Apply now!

 

Camino Financial Is A Community Development Financial Institution Ready To Help You

Camino Financial is the first neo-CDFI in the United States. That means we are the first ever AI-powered CDFI. We use the power of technology to offer the financial services economically disadvantaged communities need.

We are a certified CDFI in Los Angeles, CA, that serves the whole country (except for New Jersey, Hawaii, and Puerto Rico).

And thanks to the leadership of Roxane Herrera, our Director of Corporate Development, we’re helping more people than ever before. She’s the daughter of Mexican immigrants, so she understands and wants to help minority communities.

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As a CDFI, we help low-income communities nationwide through our financial services. We offer financial products that are affordable and easy to get. With us, you can get:

At Camino Financial, we are one of the few lenders that provide financing for business owners that only have an ITIN and haven’t established a credit history yet.

We don’t require collateral and offer a range of loans to match our clients’ needs.

To get more info about capital, you can:

You can also use our business loan calculator to see how much you’d pay monthly with our loan programs and qualify today!

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Get Approved For A Loan Today

 

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Need more coronavirus-related resources?

Visit our COVID-19 Resources Hub

The Basics Of CDFI PPP Loans

Before we present the CDFI PPP lenders list, let’s go over some of the basics that’ll help you understand these institutions and how and why they offered PPP loans.

Why Should Small Business Owners Apply For PPP loans With A CDFI?

These community development financial institutions want to ensure that impoverished communities gain access to funding.

Their mission became even more important when the coronavirus pandemic started wreaking havoc on small businesses’ finances.

The government also realized this and allow CDFIs to become PPP lenders during the second PPP funding round.

#DidYouKnow
CDFIs have one advantage over banks and credit unions. They can offer more personal customer service because they’re smaller and closer to their communities.

Where Did People Apply For PPP Loans?

PPP loan applications were available online or through an SBA preferred lender (CDFIs, banks, or other financial institutions).

The application required information about:

  • average monthly payroll
  • number of employees
  • how you were going to use the PPP loan

Some financial institutions had extra requirements, like only helping people with an existing business checking account. Other banks helped new and existing customers.

What made CDFIs different is that you didn’t need an existing relationship to complete a PPP loan application with them.

#DidYouKnow
PPP loans were forgivable.

Can CDFIs And MDIs Help My Business Access PPP Loans?

During the initial PPP loans round, financial institutions didn’t give many minority-owned businesses funding. This is because their net profit may have been too small, or banks deemed they didn’t have enough employees.

However, the second draw PPP loans offered funding through Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) to help BIPOC-owned small businesses (Black, Indigenous, and People of Color) receive the funding they needed to survive the pandemic.

The Payroll Protection Program ended May 31, 2021.

The Consolidated Appropriations Act signed into law on December 27, 2020, set aside money for CDFIs and MDIs. Therefore, the government earmarked nearly $3 billion for underserved communities.

Additionally, the SBA will develop a new formula so that small businesses can qualify for larger loans.

Where Can I Find CDFIs And MDIs That Support My Area And My Needs?

If you want to locate one of these institutions, here’s the best way to do it:

Locating CDFIs

Use this CDFI locator to find a financial institution in your state. The search engine provides a list of CDFI participants and contact information.

These institutions are in every state and the District of Columbia, Guam, and Puerto Rico.

Locating MDIs

There aren’t as many MDIs as CDFIs, but this list narrows down the closest MDI near to you.

#DidYouKnow
Another helpful site is Benefits.gov to get in contact with an agency for disaster relief, healthcare and medical assistance, financial assistance, and loans.

What If The CDFIs Or MDIs In My Area Are Not Participating In PPP?

While a part of the second round of PPP money was set aside exclusively for CDFIs and MDIs to reach underserved small business owners, your Local CDFI or MDI may have exhausted the amount allocated to them for PPP or aren’t participants.

However, the 2021 Consolidated Appropriations Act appropriated additional funding for low-income communities, such as the Economic Injury Disaster Loan (EIDL).

With the EIDL loan, you could receive up to $150,000 with restricted usage for working capital. Repayment terms depend on the business’s ability to repay with a maximum repayment term of 30 years.

The Small Business Administration also offers a microfinance loan program for loan amounts up to $350,000.

CDFIs or MDIs may have access to other types of funding so your business can continue to operate.

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Other options for people that didn’t qualify for an SBA coronavirus loan

List Of Community Financial Institutions That Offered PPP Loans

Use this CDFI PPP lenders list to find institutions that offered the SBA’s Payroll Protection Program.

The organizations offered Community development Financial Institutions PPP loans but they also gave assistance and helped applicants fill out their applications.

California’s CDFI PPP Lenders List

Here’s a list of Community Development Financial Institutions CDFIs in California.

Bankers Small Business CDC of California

This CDFI is in San Diego, CA.

They help businesses in California.

To get more info, you can:

  • Visit their website www.cdcloans.com
  • To get more info, you can call them at 619-291-3594

California Farmlink

This CDFI is in Aptos, CA

They help businesses in California.

  • To get more info, you can call them at 831-425-0303

They offer Spanish customer service.

Opportunity Fund

This Community Financial Institution PPP is in San Jose, CA.

They help businesses in California.

  • You can apply online at www.opportunityfund.org
  • To get more info, you can call them at 888-720-3215

They offer Spanish customer service and individual CDIF PPP applications or technical assistance.

Colorado’s CDFI PPP Lenders List

Colorado Enterprise Fund

This CDFI is in Denver, CO.

They help businesses in Colorado.

  • You can apply online at www.coloradoenterprisefund.org
  • To get more info, you can call them at 303-860-0242

They offer Spanish customer service and individual PPP technical assistance.

Florida’s CDFI PPP Lenders List

Black Business Investment Fund

This CDFI is in Orlando, FL.

They help businesses in Florida.

To get more info, you can:

  • Visit their website www.bbifflorida.com
  • To get more info, you can call them at 407-649-4780

New York’s CDFI PPP Lenders List

Alternatives Federal Credit Union

This CDFI is in Ithaca, NY.

They help businesses in New York.

To get more info, you can:

  • Visit their website www.alternatives.org
  • To get more info, you can call them at 607-273-4611

Ascendus

This CDFIs is in New York City, NY.

They help businesses in New York.

To get more info, you can:

  • Visit their website www.ascendus.org
  • To get more info, you can call them at 646-833-4514

Boc Capital Corp

This CDFI is in Brooklyn, NY.

They help businesses in New York.

To get more info about capital, you can:

  • Visit their website www.bocnet.org
  • To get more info, you can call them at 718-624-9115

Community Capital New York

This CDFI is in Elmsford, NY.

They help businesses in New York.

To get more info, you can:

  • Visit their website www.communitycapitalny.org
  • To get more info, you can call them at 914-747-8020

Renaissance Economic Development Corporation

This CDFI is in New York City, NY.

They help businesses in New York.

To apply, you need to fill out an interest form on the website available in English and Spanish:

Renaissance EDC – PPP Loan Interest

To get more info, you can:

  • Visit their website www.renaissance-ny.org
  • To get more info, you can call them at 212-964-6022

They offer Spanish customer service and individual PPP technical assistance.

Texas’s CDFI PPP Lenders List

BCL of Texas

These community financial institutions or PPP lenders are in Austin, TX.

They help businesses in Texas.

  • You can apply online at www.bcloftexas.org
  • To get more info, you can call them at 512-912-9884

They offer Spanish customer service and individual PPP technical assistance.

PeopleFund

This CDFI is in Austin, TX.

They help businesses in Texas.

To get more info about CDFI loans, you can:

  • Visit their website www.peoplefund.org
  • To get more info, you can call them at 512-222-1002

Note: They have a voice mail available so you can leave your information, and they call you.

Multiple States’ CDFI PPP Lenders List

Clearinghouse CDFI

This CDFI is in Lake Forest, CA.

They help businesses in Arizona, California, Nevada, New Mexico.

To get more info, you can:

  • Visit their website www.clearinghousecdfi.com
  • To get more info, you can call them at 949-859-3600

Lendistry

This CDFI is in Los Angeles, CA.

They help businesses in California, Georgia, Maryland, Pennsylvania.

To get more info, you can:

  • Visit their website www.lendistry.com
  • To get more info, you can call them at 562-242-2900

Rural Community Assistance Corporation

This CDFI is in West Sacramento, CA.

They offer to fund businesses in Arkansas, Arizona, California, Colorado, Hawaii, IDAHO, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming.

To get more info and their application process, you can:

  • Visit their website www.rcac.org
  • To get more info, you can call them at 916-447-9832

LiftFund

This CDFI is in San Antonio, TX, and they will help you to access funding:

They help businesses in Alabama, Arizona, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Tennessee, Texas.

To get more info, you can:

  • Visit their website www.liftfund.com
  • To get more info, you can call them at 888-215-2373, Ext. 111

Note: They have a voice mail available to leave your information, and they call you.

DreamSpring

This CDFI is in Albuquerque, NM.

They help businesses in Arizona, Colorado, Georgia, Nevada, New Mexico, North Carolina, Texas.

  • You can apply online at www.dreamspring.org
  • To get more info, you can call them at 800-508-7624

They offer Spanish customer service and individual PPP technical assistance.

Pursuit

This CDFI is in New York City, New York.

They help businesses in New York, New Jersey, Pennsylvania.

  • You can also apply online at www.pursuitlending.com
  • To get more info, you can call them at 800-923-2504

They offer Spanish customer service and individual PPP technical assistance.

Note: Recorded message states to email [email protected] for the quickest way to get help.

#DidYouKnow
None of the Community Development Financial Institutions in this CDFI PPP lenders list are accepting PPP loan applications anymore. The government is no longer funding the program.

Need funds to invest in your small business?

Apply For A Business Loan!

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List of banks and other institutions that offered PPP loans

What Are Community Financial Institutions (CFIs)?

A Community Financial Institution (CFI) is a financial institution in an economically underserved community. CFIs offer financial services to these communities.

There are three types of CFIs:

  • Community Development Financial Institution (CDFI)
  • Minority Depository Institution (MDI)
  • Certified Development Company (CDC)

What Are Community Financial Institutions (CDFIs)?

A Community Development Financial Institution helps revive economically distressed communities throughout the United States, commonly referred to as CDFIs.

These specialized financial organizations reach underserved communities (like disadvantaged people in primarily black and Hispanic communities) through their development services, affordable loans, and financial assistance.

Some also help obtain affordable housing.

There are different types of CDFIs, depending on their characteristics:

  • Community Development Venture Capital Funds. They provide equity financial products to businesses in distressed communities.
  • Community Development Loan Funds. They provide financial products for organizations and individuals in low-income communities.
  • Community Development Credit Unions. They provide financial support through affordable credit and other financial services for low-income people.
  • Community Development Banks. They provide capital to communities by lending and investing.

What Is A CDFI Loan?

CDFI loans are financial products for small businesses and home buyers. They’re meant to help low-income communities. Most, if not all, of the institutions in our CDFI PPP lenders list offer traditional business loans.

What Is A Minority Depository Institution (MDI)?

MDIs (Minority Depository Institutions) are banking institutions that primarily service predominant minority communities to include Black, Asian, Hispanic, and Native Americans, as defined by the FDIC.

#DidYouKnow
The FDIC’s definition of a minority does not include women-owned-and-managed institutions.

What Is A Certified Development Company (CDC)?

Certified Development Companies (CDCs) are SBA-regulated nonprofit organizations. They work with lenders to offer 504 loans and promote economic development.

ethnically diverse team

Let A CDFI Help You Get The Financing You Need

CDFIs have personnel specializing in providing the best possible financing to help your business. That makes them very attractive financing alternatives for business owners.

But even if you found an institution near you in our CDFI PPP lenders list, you won’t be able to get a Paycheck Protection Program loan because the program is no longer active.

We recommend you apply for traditional financing.

A loan from Camino Financial is exactly what you need.

You can get from $1,500 and up to $400,000 with friendly interest rates and minimal requirements.

Get Approved For A Loan Today

 

FAQs

What does CDFI stand for?

CDFI stands for Community Development Financial Institution.

What is a CDFI lender?

A Community Development Financial Institution (CDFI) is a non-bank lender that offers financial support, allowing economic enhancement, development, and opportunities for all communities.

Small businesses, microenterprises, and low-income communities benefit from the lending CDFIs provide.

Are CDFIs eligible for disbursing Paycheck Protection Program loans?

Certified CDFIs were eligible to disburse the funds.

No financial institutions are accepting PPP loan applications anymore because the program ended.

Are there any lenders accepting PPP applications?

There are no lenders still accepting PPP applications because the PPP loan program ended.

Which bank is best for PPP loans?

Some of the banks that distributed PPP loans were:

  • JPMorgan Chase
  • Bank of America
  • First Financial Bank
  • First Horizon Bank
  • Wells Fargo
  • Citizens Bank
  • The Huntington National Bank

Can you look up who received PPP loans?

Yes. The SBA has the Paycheck Protection Program Data Lookup. The website allows you to review the publicly available information on companies that received these loans.

 

Check if you
qualify for a loan

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