| ✅ Key Point | 📋 Details |
|---|---|
| 🏦 Lender Type | Camino Financial is an online lender and CDFI offering small business loans to minority-owned and microbusinesses. |
| 💰 Loan Amounts | Loan amounts range from $5,000 to $400,000, with microloans typically between $5,000 and $50,000. |
| ⏱️ Funding Speed | Prequalification results are available within 72 hours, with funding typically within 7–12 days. |
| 💳 Credit Requirements | Minimum credit score of 670 and at least 12 months in business with $30,000 in annual revenue required. |
| 💸 Rates & Fees | Interest rates range from 32% to 45% APR, with a 5% origination fee, but no prepayment penalties. |
| ⚙️ Loan Terms | Fixed repayment terms from 24 to 60 months; no collateral required. |
| 👍 Best For | Underserved and minority-owned small businesses that can’t qualify for traditional bank loans. |
| ⭐ UCS Rating | 4.2 out of 5 — A strong option for accessible funding from a mission-driven CDFI. |
Note: As of 2024, Camino Financial no longer accepts applications for small business loans. The company merged with Fundation to form Quantum Lending Solutions, a full-spectrum SMB lender.
For many underserved business owners, securing traditional bank loans can feel nearly impossible. A limited credit history, low revenue, or a lack of collateral often results in repeated denials from banks. Community Development Financial Institutions (CDFIs), such as Camino Financial, help bridge this gap by providing accessible funding to small businesses that face these challenges.
Camino Financial was created to give minority-owned and microbusinesses a fair chance to grow, even when other lenders say no. While its mission to serve underserved communities is commendable, it’s essential to carefully review any lender before deciding where to apply. High costs, eligibility requirements, and varying customer experiences all play a crucial role in selecting the right funding partner.
In this review, we’ll explore what you must know about Camino Financial to help you decide if it’s right for your business needs. Specifically, we’ll answer these questions and more:
Camino Financial is an online lender that offers business loans to minority-owned and microbusinesses. Founded by twin brothers Kenny and Sean Salas, the company was established to fill a critical gap in business financing for underserved entrepreneurs. Its headquarters are based in Los Angeles, California, and it operates primarily through its digital lending platform.
The company’s mission emphasizes providing alternative business lending options for underserved communities that face barriers to traditional bank lending. By combining technology with a social mission, Camino Financial aims to empower small business owners by offering educational resources to enhance financial management skills.
Camino Financial has established itself as a significant player in alternative lending by addressing the needs of minority-owned businesses. It focuses on accessibility and transparency, providing clear guidance on eligibility requirements and repayment terms. The application process is designed to deliver prequalification results within 72 hours, with funding available shortly after approval.
Camino Financial leverages several technological solutions to streamline its application process. The lender utilizes data-driven tools to streamline underwriting and facilitate faster decision-making, while maintaining personalized customer service.
Camino Financial utilizes a proprietary scoring system, known as CaminoScore, to evaluate creditworthiness. This system considers both personal and business information to determine eligibility and loan terms.
Camino Financial offers a range of business loan products designed to meet the diverse needs of small businesses. The company offers term loans with fixed repayment periods ranging from 24 to 60 months, enabling predictable monthly payments. Loan amounts from Camino Financial range from $5,000 to $400,000, with the smaller microloans typically ranging from $5,000 to $50,000.
Camino Financial does not require collateral for its loans, which makes the process more accessible for small companies without significant assets. However, borrowers should note that Camino Financial’s current business loan interest rates range from 32% to 45% APR, substantially higher than the typical 6% to 13% APR of traditional bank loans.
Camino Financial’s fee structure includes a closing fee, which can contribute to the overall cost of the loan. This, along with the relatively high APR, means business owners should carefully review the loan agreement and finance fees before signing.
Through Camino Financial’s website, business owners can prequalify online and explore loan options designed for working capital, business expansion, or debt consolidation.
To qualify for a business loan from Camino Financial, applicants must meet specific eligibility requirements.
Camino Financial has a minimum credit score requirement of 670 for loan eligibility. The company also requires an annual revenue of at least $30,000 to ensure the borrower can handle monthly payments responsibly. Camino Financial requires businesses to have a minimum operating history of 12 months before qualifying for a loan.
These criteria reflect Camino Financial’s effort to balance accessibility with risk management. While its requirements are less stringent than those of many traditional banks, applicants must still demonstrate stable income and a satisfactory credit score to qualify.
Community Development Financial Institutions (CDFIs), such as Camino Financial, play a unique role in small business lending. Unlike traditional banks or online-only lenders, CDFIs are mission-driven organizations that focus on financial inclusion. They often offer business loan products to business owners who have been overlooked by conventional lenders, emphasizing social impact over profit.
Camino Financial primarily serves small businesses, particularly those owned by minorities and first-time business loan borrowers. The organization focuses on fostering entrepreneurship among minority populations to create positive economic impacts. Funds from Camino Financial loans cannot be used for management buyouts, business acquisitions, cryptocurrency, or personal expenses. Camino Financial’s services prioritize underserved businesses.
Despite better accessibility, Camino Financial’s maximum loan amount is limited to $50,000, which may not meet the needs of larger businesses. However, the smaller loan sizes align with the company’s focus on microbusinesses and startups that need a financial boost to stabilize or grow.
The total cost of borrowing from Camino Financial can be significantly affected by the high interest rates and fees. Camino Financial applies a 5.00% origination fee but does not charge any fees for early repayment. Prospective borrowers should carefully consider the high interest rates associated with loans from Camino Financial, as they can drive up the total repayment amount.
Interest rates from alternative lenders, such as Camino Financial, can be higher due to the increased risk of lending to businesses that may not qualify for traditional bank financing. Camino Financial’s interest rates can start at approximately 14% APR for borrowers with excellent credit profiles, but rates may be higher based on individual circumstances.
Customers have reported interest rates as high as 28.5% APR, which reflects the increased risks associated with alternative lending. Some reviews have complained that interest accounts for more than half of each loan payment. That said, the company’s customer service is often recognized as responsive and supportive throughout the lending process.
While feedback is generally positive, there are also warnings about hidden fees and miscommunication during the loan process. The overall process remains efficient, and the lender has made its application process simple by combining technology-driven evaluations with human support.
Camino Financial’s successor, Quantum Lending Solutions (QLS), offers a business loan affiliate program. Banks, marketplaces, and business loan brokers can contact QLS for more information on potential partnership opportunities.
The small business loan application process with Camino Financial is designed to be fast, transparent, and straightforward. To apply for a loan with Camino Financial, applicants need to provide several financial documents to verify their identity and business performance. These typically include bank statements, tax returns, and other business information.
The entire process from application to funding with Camino Financial typically takes between 7 and 12 days. Camino Financial’s application process offers a balance of technology-driven efficiency and personalized service.
Begin by visiting Camino Financial’s website and clicking on the “Apply Now” button. Here, you’ll fill out a short form with your personal and business information, including revenue, time in business, and credit score.
After submitting your initial form, upload your bank statements and other required documents for verification. Camino Financial uses these materials to assess your eligibility and loan amount.
Once your information is reviewed, you’ll receive prequalification results within 72 hours. If you prequalify, Camino Financial will send you the potential loan terms and repayment options.
Once you fill out and submit the application, you’ll be contacted by a small business loan representative to finalize the loan agreement. They’ll walk you through the terms, interest rate, and repayment schedule.
After approval, the funds are deposited directly into your bank account. Most borrowers receive their loan proceeds within one to two business days after signing the loan documents.
Once your business loan is funded, Camino Financial ensures repayment is predictable and straightforward. Camino Financial offers automatic payments for loan repayments, helping business owners stay on schedule and avoid late fees.
Camino Financial does not charge prepayment penalties, allowing borrowers to pay off their loans early without incurring additional costs. The flexible loan terms and fixed monthly payment structure provide transparency throughout the repayment process.
Camino Financial’s most significant advantage lies in its mission-driven approach. The lender focuses on empowering small businesses that traditional banks often overlook. Its easy online application and fast prequalification results make the process efficient for time-sensitive funding needs. Camino Financial offers microloans to help smaller businesses access the money they need to grow.
The lender’s emphasis on financial education and its willingness to serve first-time borrowers further distinguish its services. Many customers praise Camino Financial for its responsiveness, supportive staff, and the transparency of its loan terms. The absence of prepayment penalties is another significant advantage, enabling motivated business owners to save on interest costs by making early payments.
Despite its benefits, Camino Financial comes with notable drawbacks. The biggest concern is cost, with interest rates on the higher end, ranging between 32% and 45% APR. These rates are significantly higher than those of traditional banks and can make borrowing expensive over time.
Another disadvantage is the limited maximum loan amount of $50,000, which may not be enough for larger businesses or those looking to expand aggressively. Additionally, while many reviews are positive, some borrowers have expressed concerns about communication issues and hidden fees.
Pros:
Cons:
Yes, Camino Financial is a legitimate lender and a recognized CDFI. It was founded with a clear mission to provide loans to underserved entrepreneurs and operates transparently within the financial industry. The company’s leadership team and technology-driven model align with best practices for ethical lending, and its partnerships with other financial organizations further validate its credibility.
Camino Financial has a mixed reputation, with positive feedback highlighting the helpfulness of its staff and negative reviews focusing on high interest rates and communication issues. Camino Financial has an overall rating of 4.1 out of 5 stars on Trustpilot based on 124 reviews.
Positive customer reviews highlight a fast and easy application process at Camino Financial. Many customers praise Camino Financial for its professionalism, responsiveness, and helpfulness in securing business loans. Borrowers often describe the lender’s representatives as patient and informative, particularly when explaining eligibility requirements and repayment terms.
On the other hand, some reviews indicate that customers have felt misled during the application process, as initial approvals were followed by denials. Common complaints include issues with communication and difficulties accessing loan information. Some customers reported dissatisfaction due to high interest rates, particularly noting an average APR of around 28.5%. Other reviews mention that borrowers have encountered high fees that impact their overall loan repayment.
Camino Financial may deny a business loan application for various reasons, including a low credit score, insufficient revenue, or limited business history. As a CDFI, its primary focus is on underserved businesses, so your firm might fall outside its target audience.
If Camino denies your application, the denial letter should explain the reasons for the denial, provide tips on how to improve your application, and indicate when you can reapply. Contact the lender directly if you require more information.
Fortunately, small business owners have diverse lender options to consider if Camino Financial isn’t the right fit. Many lenders offer more diverse lending options with higher borrowing amounts. Working with a small business loan marketplace (like UCS) allows you to apply to multiple lenders with a single application and receive guided support on finding the best deal for your company.
You may be interested in one of the following small business loans:
Camino Financial stands out as a mission-focused lender dedicated to helping underserved entrepreneurs gain access to business financing. Its fast online process, lack of collateral requirements, and responsive customer support make it a strong option for small businesses that can’t qualify with traditional banks.
However, the high interest rates and limited loan amounts mean it’s not ideal for every situation. Businesses that qualify for lower-cost loans through banks or credit unions should explore those first. But for startups and minority-owned companies that need accessible funding and personalized support, Camino Financial remains a valuable alternative.
Based on the available information, we rate Camino Financial 4.2 out of 5. It’s an excellent CDFI option for underserved businesses.
Disclaimer: The Camino Financial trademark is owned by Quantum Lending Solutions, Inc., and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from Quantum Lending Solutions, Inc.
