¡HICA!’s Camino Loan Fund Receives CDFI Certification, Unlocking Expanded Access to Capital for Underserved Entrepreneurs

FOR IMMEDIATE RELEASE
May 9th, 2025

BIRMINGHAM, AL – The Hispanic and Immigrant Center of Alabama (¡HICA!) is proud to announce that its affiliated lending arm, the Camino Loan Fund, has been officially certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury. This milestone marks a significant step forward in ¡HICA!’s commitment to advancing economic opportunity for Latino, immigrant, and LMI entrepreneurs across Alabama.

CDFI Certification is awarded to organizations that demonstrate a primary mission of promoting community development and providing responsible, affordable financial services to underserved populations. With this designation, the Camino Loan Fund joins a national network of mission-driven lenders working to close the capital gap for communities that have historically been excluded from mainstream financial systems.

“Being recognized as a certified CDFI is a game-changer,” said Carlos Alemán, CEO of ¡HICA!. “It means we are now positioned to grow our lending work and reach even more small business owners who are often overlooked by traditional banks. For immigrant and Latino entrepreneurs, access to capital can be the difference between a dream deferred and a business launched.”

Since its inception, the Camino Loan Fund has deployed over $900,000 in small business loans, helping create more than 107 jobs and supporting businesses in increasing their revenue by up to 50%. With a strong repayment track record, the fund continues to catalyze local economic growth. Its new certification opens the door to expanded investment opportunities and technical assistance, enabling the fund to scale its impact and reach more entrepreneurs across the region.

“Camino is more than a loan fund—it’s a lifeline for hardworking entrepreneurs building a better future for their families and communities,” added Johanna Alvarez, Director of Lending. “We’re thrilled to be part of a broader ecosystem that recognizes the potential and power of inclusive economic development.”

The Camino Loan Fund’s certification reflects ¡HICA!’s broader vision: building prosperity, inspiring hope, and advocating for Latinos and immigrants in Alabama. As a newly certified CDFI, Camino will continue to prioritize culturally responsive lending, financial coaching, and equitable access to opportunity.

For more information about the Camino Loan Fund or to explore partnership opportunities, please visit www.hicaalabama.org or contact jalvarez@hicaalabama.org.