programa de protección de cheques de pago.
Camino Financial
By: camino-financial
Read in 14 minutes

CDFI PPP Lenders that Offer Loans

The CDFI PPP lenders offer loans to support small business owners. That’s why we’ve provided a list of the Community Development Financial Institutions divided into specific states so you can access support quickly.

Even though the Paycheck Protection Program PPP has already ended, you can still obtain affordable capital to invest in your business today!

NOTE: Camino Financial is the first Neo-CDFI in the country, and we’re ready to help you grow your business.

piggybank next to notepad

What is a Community Financial Institution?

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 is a CDFI Lender?

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

These specialized financial organizations are certified to reach underserved communities (like disadvantaged people in primarily black and Hispanic communities) through their development services, affordable loans, and financial assistance. This could also help to obtain affordable housing.

What is a CDFI Loan?

CDFI loans are financial aid that a community financial institution provides for home buyers and small businesses.

This type of financial support wants to help low-income people and communities, divided according to their characteristics and four sectors: loan funds, banks, credit unions, and venture capital, all of which have different business models and legal structures.

  • Community Development Venture Capital Funds: provide equity financial features to small and medium-sized businesses in distressed communities.
  • Community Development Loan Funds: provide financial products such as housing, community service organizations, microenterprise, small business loans for organizations and individuals in low-income communities.
  • Community Development Credit Unions: Provide financial support through affordable credit and other financial services for low-income people.
  • Community Development Banks: provide capital to communities by lending and investing.

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. Still, it has become essential since the COVID virus started wreaking havoc on small businesses’ finances.

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. This is a huge advantage that can help small business owners solve any questions when applying.

Also, you can apply for a Solopreneur loan if you need cash to start or grow your micro-business

What is an 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.

Can CDFIs and MDIs help my business access a PPP loan?

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

However, in the second PPP round, funding was available 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.

List of Community Financial Institutions by State that Offers PPP Loans

Find the CDIF you need with these Payroll Protection Program lenders offered by the SBA. You can receive assistance and get some help filling out your PPP application.

Here’s a list with the community development banks list is able in each state to access. Find here the CDFI banks near to you.

people shaking hands for having received a loan through CDFI PPP lenders

CDFIs Serving California

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

1. Camino Financial (Best PPP Lender)

logo Camino Financial

This certified CDFI is in Los Angeles, CA.

They help businesses all over the country, except for New Jersey, Hawaii, and Puerto Rico.

To get more info about capital, you can:

Apply For A Business Loan!

2. Bankers Small Business CDC of California

cdc-logo

This CDFI is in San Diego, CA.

They help businesses in California.

To get more info, you can:

  • Visit their website www.cdcloans.com
  • Contact Robert Villareal at 619-291-3594

3. California Farmlinkcarlifornia farmlink logo

This CDFI is in Aptos, CA

They help businesses in California.

To get more info, you can contact Reggie Knox at 831-425-0303.

They offer Spanish customer service.

4. Opportunity Fundopportunity fund logo

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.

CDFIs Serving Colorado

1. Colorado Enterprise Fund

colorado entreprise fund logo

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 contact Ceyl Prinster at 303-860-0242.

They offer Spanish customer service and individual PPP technical assistance.

CDFI PPP Lenders List Serving Florida

1. Black Business Investment Fundblack cooperative investment fund logo

This CDFI is in Orlando, FL.

They help businesses in Florida.

To get more info, you can:

CDFIs Serving New York

1. Alternatives Federal Credit Unionalternatives federal credit union logo

This CDFI is in Ithaca, NY.

They help businesses in New York.

To get more info, you can:

2. Ascendusascendus logo

This CDFIs is in New York City, NY.

They help businesses in New York.

To get more info, you can:

3. Boc Capital Corpbusiness outreach center logo

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
  • Contact Nancy Carin at 718-624-9115

4. Community Capital New Yorkcommunity capital new york

This CDFI is in Elmsford, NY.

They help businesses in New York.

To get more info, you can:

5. Renaissance Economic Development Corporation

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:

They offer Spanish customer service and individual PPP technical assistance.

Community Development Financial Institutions (CDFI PPP Lenders) Serving Texas that offers PPP loan

1. BCL of TexasBCL of texas logo

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 contact Raquel Valdez at 512-912-9884.

They offer Spanish customer service and individual PPP technical assistance.

2. PeopleFundpeople fund logo

This CDFI is in Austin, TX.

They help businesses in Texas.

To get more info about CDFI loans, you can:

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

Apply now!

List of CDFIs Banks Serving Multiple States

These certified CDFIs or PPP lenders are in multiple states.

1. Clearinghouse CDFI

clearinghouse cdfi logo

This CDFI is in Lake Forest, CA.

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

To get more info, you can:

2. Lendistry

lendistry logo

This CDFI is in Los Angeles, CA.

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

To get more info, you can:

3. Rural Community Assistance CorporationRural Community Assistance Corporation logo

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.
  • Contact Juanita Hallstrom at 916-447-9832 or her direct number, 916-320-9805.

4. LiftFundlift fund logo

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.
  • Contact Janie Barrera at 888-215-2373, Ext. 111.

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

5. DreamSpringdreamspring logo

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 contact Marisa Barrera at 800-508-7624.

They offer Spanish customer service and individual PPP technical assistance.

6. Pursuit

pursuit-logo

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 contact Steve Cohen 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.

#CaminoTip
 Didn’t find a Community Development Financial Institutions that serve your state or locality? You can also use this CDFI Institutions locator to find a CDFI organization near you.

Pile of dollars

Get the financing you Need

If you aren’t quite sure if you can apply for the Small Business Administration Paycheck Protection Program, you won’t know until you contact one of the community development financial institutions or CDFIs.

These organizations have trained personnel specializing in providing the best possible financing to help your business compete in the economy.

Even if the Small Business Administration SBA CDFI PPP has already ended, you still have options to fund your business.

Get Approved For A Loan Today

Camino Financial is a Community Development Financial Institution PPP

Camino Financial is the first neo-CDFI in the United States.

But… what does that mean? It means we are the first AI-powered CDFI, and we use the power of technology to offer the financial services economically disadvantaged communities need.

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

As a CDFI, Camino Financial commits to helping low-income communities nationwide through our financial services. Although Small Business Administration doesn’t lay out PPP loans anymore, we offer small business loans that are affordable and easy to get.

Camino Financial is 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 microloans and small business loans to match our clients’ needs.

Use our business loan calculator to see how much you’d pay monthly with our loan programs and qualify today!

Term Loan Calculator


FAQ about Community Development Financial Institutions CDFI

What Are Community Financial Institutions?

A Community Development Financial Institution or CDFIS offers financial support, allowing economic enhancement, development, and opportunity.

Are the CDFIs eligible for disbursing the aids from the Payment Protection Program?

Certified CDFIs are available to help disburse PPP funds.  So, in this way, small businesses, microenterprises, and low-income communities benefit from the lending CDFIs provide; you can also apply for affordable housing.

What Does CDFI Stand For?

CDFI stands for Community Development Financial Institution.

What is an SBA Microlender?

These are microlenders that receive SBA funding so they can help newly established businesses, startups, growing businesses.
They offer SBA loans, training, and technical assistance.

Check if you
qualify for a loan

LEARN MORE