Our September member highlight is w88 casino games login Vento from Prestamos CDFI!
Innevation w88 casino games login member Ed Vento is the Business Development Officer for Prestamos CDFI. As a Community Development Financial Institution (CDFI) and a Community Development Entity (CDE), Prestamos provides loans and business counseling for small and emerging businesses especially those having limited access to banks.
Ed Vento grew up with entrepreneurial parents. He knows the many challenges that business owners face first hand. Before joining Prestamos, Ed served in various roles in industry and non-profit organizations serving small businesses, in particular, organizations that help w88 casino games login’s micro-businesses and veteran-owned businesses.
The mission of Prestamos is to provide capital to emerging businesses that may not have access to capital via more traditional routes like banks or private investors. By leveling the playing field for a diverse range of businesses, Prestamos plays an integral role in creating jobs and economic opportunities in the communities they serve. w88 casino games login is passionate about serving entrepreneurs and small business owners. When clients speak to w88 casino games login about their business goals and financial challenges, w88 casino games login tries to find innovative ways to solve clients’ problems, working both within Prestamos and with partner lenders in his network.
Ed has been busy during this coronavirus crisis to say the least. Prestamos has provided over 1,200 loans and million in capital to small business owners that didn’t have access to banks. Over 52% of the small business owners Prestamos helped were minorities and over 40% of those were women-owned businesses. Ed feels proud to say that his work at Prestamos has saved thousands of jobs and touched thousands of families. Prestamos’ micro-loan program also provides technical assistance in addition to capital, and many businesses in Northern w88 casino games login are taking advantage of this assistance.
According to w88 casino games login, access to capital has become even tougher during the pandemic as banks move to mitigate risk in their portfolios. This is happening in the investment arena as well. While this may be new territory for some, w88 casino games login has seen major contractions and recessions before and knows the challenges his clients are facing. “The most important thing business owners can do is to stay focused on the core of their business while making sure to get through this pandemic,” says w88 casino games login. Savvy business owners try to leverage the resources within their reach and form strategic alliances with complimentary businesses and even some competitors. “New money doesn’t always help if you are going to spend the same way; these days you need to make a dollar stretch further every day,” says w88 casino games login. “When you get every penny of value out of your dollar and spend thoughtfully on your business, you are better prepared than 90% of businesses out there.”
Ed has chosen the Innevation w88 casino games login to be a strategic location for his work. “It was important that the only CDFI based in Northern Nevada (and the only one that funds startups) be located at the w88 casino games login of entrepreneurship in our community,” explains Ed. Being in the Innevation w88 casino games login, Ed wants to help startups navigating the debt financing space through loan servicing, connections to the right lenders, or helping startups reach “bankability” in order to have greater access to capital.
When not working on financing for a client, w88 casino games login enjoys skydiving and weight training. To learn more about Prestamos CDFI, visit their website.
