PRESTAMOS CDFI
PPP Lender · 444,780 loans · $6.85B total · 54 states served
PRESTAMOS CDFI was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 444,780 PPP loans totaling $6.85B, representing approximately 3.88% of all loans nationwide.
PRESTAMOS CDFI served borrowers across 54 states. The largest concentration of activity was in Georgia, where the lender originated 52,037 loans totaling $835.6M. Other states with significant activity included California, Texas, Florida.
The average loan size for this lender was $15,401. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through PRESTAMOS CDFI were: ARIZONA'S CHILDREN ASSOCIATION (AZ) — $7,459,585; ORTIZ HARVESTING INC. (AZ) — $1,443,160; UNFORGETTABLE COATINGS INC. (NV) — $878,342; and JIM L. SHETAKIS DISTRIBUTING CO. (NV) — $872,105.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Georgia | 52,037 | $835.6M | 83.5% |
| California | 48,945 | $738.5M | 81.3% |
| Texas | 45,895 | $719.7M | 81.8% |
| Florida | 35,029 | $523.8M | 82.5% |
| Illinois | 28,668 | $501.7M | 80.0% |
| Louisiana | 21,250 | $351.9M | 79.6% |
| Ohio | 19,255 | $298.1M | 78.6% |
| Michigan | 17,980 | $282.9M | 77.3% |
| New York | 16,667 | $240.1M | 78.0% |
| Pennsylvania | 13,674 | $208.7M | 77.7% |
| North Carolina | 12,408 | $167.1M | 81.2% |
| South Carolina | 11,831 | $179.9M | 83.0% |
| Alabama | 11,468 | $179.0M | 82.0% |
| Tennessee | 10,717 | $165.0M | 81.6% |
| Arizona | 9,508 | $153.2M | 82.7% |
| Mississippi | 9,409 | $150.1M | 84.4% |
| Nevada | 9,131 | $152.5M | 81.6% |
| Maryland | 8,927 | $131.9M | 81.5% |
| Indiana | 8,331 | $131.8M | 78.8% |
| Virginia | 6,775 | $94.3M | 80.7% |
| New Jersey | 6,517 | $95.2M | 79.8% |
| Missouri | 4,952 | $70.5M | 79.8% |
| Arkansas | 3,921 | $56.5M | 78.8% |
| Wisconsin | 3,887 | $61.6M | 76.0% |
| Minnesota | 3,091 | $47.9M | 76.5% |
| Massachusetts | 2,627 | $36.6M | 77.7% |
| Colorado | 2,593 | $30.6M | 81.4% |
| Washington | 2,587 | $32.1M | 81.0% |
| Kentucky | 2,101 | $26.0M | 80.1% |
| Oklahoma | 1,810 | $21.4M | 81.7% |
| Connecticut | 1,626 | $20.8M | 79.9% |
| District of Columbia | 1,558 | $24.0M | 76.4% |
| Oregon | 1,468 | $17.7M | 81.3% |
| Delaware | 1,465 | $21.5M | 75.2% |
| Iowa | 1,165 | $17.4M | 75.0% |
| Kansas | 976 | $12.7M | 80.6% |
| New Mexico | 635 | $6.6M | 79.1% |
| Utah | 586 | $6.4M | 82.9% |
| Nebraska | 569 | $7.2M | 80.1% |
| Rhode Island | 442 | $5.4M | 78.3% |
| Hawaii | 393 | $4.5M | 84.0% |
| West Virginia | 382 | $4.3M | 75.4% |
| Idaho | 353 | $3.8M | 81.0% |
| North Dakota | 212 | $3.0M | 76.9% |
| Maine | 190 | $1.9M | 76.3% |
| New Hampshire | 168 | $2.0M | 82.1% |
| Alaska | 153 | $1.6M | 80.4% |
| Montana | 145 | $1.5M | 82.8% |
| South Dakota | 116 | $1.3M | 78.4% |
| Wyoming | 99 | $1.0M | 80.8% |
| Vermont | 61 | $660,594 | 78.7% |
| Puerto Rico | 16 | $154,854 | 100.0% |
| U.S. Virgin Islands | 10 | $162,743 | 60.0% |
| AE | 1 | $20,000 | 0.0% |