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The El Pájaro Community Development Corporation (El Pájaro CDC) works in partnership with the Santa Cruz Community Credit Union to make micro-loan funds available to businesses served by El Pájaro CDC through the Community Partnership Loan Program (CPLP). El Pájaro CDC facilitates the CPLP loan application process by providing technical assistance to clients as they apply for the loans. Clients that qualify for these loans include those that live in Watsonville or North Monterey County. The clients are required to take El Pájaro CDC business training and technical assistance as part of the program.
Why Offer Loan Application Assistance?
Starting and operating a business takes a large amount of capital that low-income individuals often are unable to obtain. The purpose of providing these micro-loan funds is to make financing available for individuals seeking to start a new business, or for current business owners that need a loan. Often these entrepreneurs are considered non-bankable by mainstream financial institutions.
How Does Loan Application Assistance Help?
The CPLP program is designed to make micro-loans available to micro-business enterprises served by El Pájaro CDC to specifically meet their developing and financing needs which increases the ability for people of modest and lower income to achieve loans. Through CPLP we can reach the low-income community and help individuals achieve self-sufficiency through micro-lending. We help individuals who are considered non-bankable by mainstream financial institutions to obtain much-needed loans.
For more information about CPLP call our office at (831) 722-1224