![]() ![]() The Biden administration, banks, and corporations have committed over $40 billion in capital to CDFIs and Minority Depository Institutions ("MDIs") in the form of grants and low cost debt. While CDFIs and community lenders have existed for decades, Camino Financial and other CDFIs are well positioned to augment their impact thanks to the unprecedented capital commitments by public and private sectors. We saw this dynamic further amplified during COVID-19 when CDFIs helped these business communities access PPP and other forms of relief." "For a long time, we've had a strong view that CDFIs play a critical role in narrowing the capital disparity gap experienced among minority business owners. "Today culminates a three year journey in becoming a CDFI," said Sean Salas, Co-Founder and CEO of Camino Financial. ![]() Camino Financial is the first national CDFI powered by artificial intelligence, referred to as a "neo-CDFI," focused on lending to underbanked businesses.As a neo-CDFI, we see the value in bridging the gap in capabilities between FinTechs and CDFIs The company is backed by angel and institutional investors all of whom have deep expertise in commercial banking, online lending and Hispanic marketing.LOS ANGELES, Ap/PRNewswire/ - Camino Financial, a Los Angeles based FinTech focused on lending to Latino-owned businesses, announced today that it has been certified as a national Community Development Financial Institution ("CDFI") by the U.S. They have created a lending platform which aims at solving unique problems facing the Hispanic business community. They have drawn inspiration from their mother who started a small Mexican restaurant and over the time she opened 30 location in south California. The company was founded by twins while they were completing their MBAs at Harvard business school. It has its headquarters in Glendale, California. The company is excited to grow its team and invest in the infrastructure for sealing partnerships which will help the company is building trust and helping their community.Ĭamino Financial was founded in 2014 by Sean Salas and Kenneth Salas. The company plans to use the funding for ramping up its marketing efforts and building its tech infrastructure for scalable growth. Despite the large size and growth profile, the Hispanic owned businesses struggle to get access to bank loans. With new online lender and credit marketplaces, the company expects to become a sizeable niche in the online business lending. It is mainly focused on deploying capital to the largest fastest growing under banked businesses in U.S.A, Hispanic owned businesses.Ĭamino Financial raised $750K in Seed funding on November 9 th 2011. Overall this is a platform which provides credit advices allowing small businesses to conveniently access capital and improve their growth. The company also offer financial services which include technical assistance and credit analytics which is customized for each client. It provides access up to $500K in business funding and helps its clients in applying for financing. It advices small businesses on securing capital and building their business credit. ![]() Camino Financial, is a online leading marketplace.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |