What Loans Camino Financial offers
Camino only offers one type of product, an unsecured business loan.
Its aim is to keep the process as simple as possible for businesses that need cash quickly.
How Camino Financial works
As a short term lender, you’ll find interest rates that are a little higher than other, more long term, competitor products.
On the plus side, though, its loans are approved quickly and can be in your account in just two business days. The basic terms are as follows:
- Borrow between $5,000 and $30,000
- Loan terms between six and 12 months
- Interest rates between 24% and 45%
You should also note that the lender can’t finance startups, and doesn’t work with those in the finance, public administration, insurance, or marketing industries.
How do I qualify for Camino Financial?
- Your business must have been registered and operating for at least nine months
- You must be generating sales of at least $30,000 annually or $2,500 per month
- You’ll need a credit score of at least 550
In order to help out businesses that might be struggling, you won’t be required to show profitability.
You can be losing money and still be accepted, as long as you meet the revenue criteria.