A new women’s business center in Phoenix is offering a range of services to help entrepreneurs grow and expand during the pandemic. 

The new in Phoenix offers services to anyone who wants to start or grow a business, even those who are just thinking about it. They offer a variety of services including training, technical assistance and access to low interest loans. 

It is one of 20 new women’s centers across the U.S just launched by the U.S. Small Business Administration (SBA). In addition, the SBA  launched a new free e-learning platform, , for anyone to use to help advance their company’s profitability. 

Most are located in underserved and rural neighborhoods, and they have resources to assist business owners to remain resilient during the pandemic, including Latina and Black business owners who have been disproportionately affected by Covid-19 shutdowns and disruptions.  

New Women’s Business Center hosted by Prestamos 

The new Phoenix WBC in Phoenix is being hosted by Prestamos, a division of the nonprofit CPLC. Prestamos provides a variety of lending programs to help grow small businesses and “impactful” economic development projects. 

“This pandemic has disproportionately impacted women through workforce reductions and caregiving responsibilities, and I am thrilled to partner with the SBA to support and empower those women looking for a new path through entrepreneurship,” said Amber Cordoba, director of Business Education and Consulting Services for Prestamos.

Mentoring, training, low interest loans, and much more 

Arizona now has two WBCs including the in Tucson. The two Arizona centers are part of a national network of 136 WBCs that offer:

• Individualized coaching
• Workshops
• Microlending
• Networking
• Technical assistance
• Resources

Entrepreneurs who work with coaches can receive help with:

• Financial management
• Operations
• Accounting
• Marketing
• Human resources
• Website and digital strategies

Free e-learning platform for women entrepreneurs

The SBA also launched , a first-of-its-kind free digital platform geared to help women entrepreneurs grow and expand. Ascent has content such as tips on preparing and recovering from disasters, strategic marketing and business financial strategy development. 

The online platform is a joint initiative between the White House, the SBA, the U.S. Department of Labor’s Women’s Bureau and the U.S. Department of the Treasury. Designed to support women entrepreneurs looking to remain resilient in their operations, Ascent is packed with content and resources from each agency and backed by academic research. 

Largest expansion of women’s services in 30 years

The launch of Ascent and the opening of 20 new business centers this year is the SBA’s of resources specifically tailored for women in more than 30 years.

Women business owners represent an important sector in the nation’s economic framework, according to the SBA. Today, women entrepreneurs own or co-own nearly 13 million businesses, close to half of all companies in the nation. They employ 9.4 million workers, generate $1.9 trillion in revenue and represent all industries. 

For more information about the Phoenix center, go to:

For more information about the Tucson center, go to:

To learn more about SBA’s programs and services for women entrepreneurs, visit online at , and to find other WBC locations and SBA resources, visit . 

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As COVID-19 continues to impact certain business sectors across Arizona, some of the hardest hit are the tiniest companies owned and operated by Latinos, Blacks, Native Americans and low-income individuals. 

To help these micro-entrepreneurs continue to achieve their biggest dreams, the federal Small Business Administration (SBA) announced it is awarding a $200,000 grant to Prestamos, a local Community Development Financial Institution () that will  approve and process the loans.

CDFIs are considered particularly important for businesses owned by people of color who historically have faced more roadblocks in obtaining loans.

Now more than ever, CDFIs play a critical role in assisting these emerging  entrepreneurs, said Teresa Miranda, vice president of Prestamos.

“It is during challenging times when we are especially reminded of the vital role that small businesses have in keeping our economies afloat and saving jobs,” Miranda said. “We have had the ability to respond quickly and deploy much needed funds and other resources to assist businesses because of partners such as SBA.”

Businesses in rural areas, Opportunity Zones and HUBZones targeted

The grant funding comes from the SBA’s Program for Investment in Micro-Entrepreneurs (PRIME) that assists low-income entrepreneurs in gaining access to capital to establish and expand their small businesses.   

In awarding the grants this year, SBA placed emphasis on projects that will offer training and technical assistance to strengthen economically disadvantaged businesses, particularly those in rural areas and in Opportunity Zones and HUBZones, which typically are in low-income neighborhoods or historically underutilized business zones.

Not just about lending money 

CDFIs such as Prestamos are intended to finance community small businesses, microenterprises, nonprofit organizations, commercial real estate, and affordable housing to spur job growth and retention in hard-to-serve markets.

They not only lend money to low-income business owners, they also advocate for them in both English and Spanish. In addition to financial services, loans, and investments, they offer training and technical assistance services and promote development efforts to aid individuals and communities to effectively use credit and capital.

“Capital is king for any aspiring or current entrepreneur, and the SBA is committed to providing critical funding to small businesses,” SBA Administrator Jovita Carranza said. “Retaining jobs — and creating new ones — is essential this year, and we are proud to award this year’s PRIME grants to assist entrepreneurs with the necessary training to create thriving sustainable businesses.”  

For more information or to apply for a loan, go to: . 

About Prestamos

Prestamos CDFI, LLC, which is a subsidiary of the nonprofit Chicanos Por La Causa, was founded in 1980 to promote business and community development by removing historical barriers and providing access to capital through non-traditional small business financing.

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