Startups > Camino Financial

Camino Financial

Camino Financial helps credit-invisible small businesses access affordable loans without collateral.

Debt Financing $173M total Founded 2014 Los Angeles, California 147 employees

Camino Financial is an AI-powered community lending platform providing affordable business loans to credit-invisible, cash-heavy small businesses that don't qualify for traditional bank financing. Using proprietary CaminoScore technology and community partnerships, they offer loans with monthly payments 40% lower than alternative products. The platform serves primarily minority-owned and first-time borrowers, having funded over $350 million across 12,000+ businesses as of December 2023.

Problem solved

Credit-invisible and minority-owned small businesses cannot access affordable capital from traditional banks, forcing them to rely on predatory lending with rates 3-7x higher.

Target customer

Minority-owned and first-time small business borrowers, cash-heavy businesses, credit-invisible entrepreneurs seeking $10K-$50K loans

Website LinkedIn Crunchbase

Founders

Sean Salas

CEO & Co-Founder

MBA from Harvard Business School, BA from UC Berkeley; previously worked in private equity and investment banking at UBS, overseeing $250M+ in portfolio company revenue.

Kenny Salas

COO & Co-Founder

Co-founder with Wall Street background; twin brother of Sean; motivated by their mother's entrepreneurial journey to create lending solutions for underserved business owners.

Funding history

Seed $3.5M Unknown Led by Unknown · Collaborative Fund, Broadscale Group

Series A $5M 2021 Led by Crédito Real · Unknown

Series B $50M 2022 Led by Drive Capital · Southern New Hampshire University (SNHU)

Debt Financing $125M 2022 Led by Morgan Stanley Private Credit · Unknown

Debt Financing $150M May 2024 Led by Unknown · Unknown

Total raised: $173M

Industries

Artificial Intelligence Commercial Lending Financial Services Credit FinTech Small and Medium Businesses

Pricing

Term loans from $10,000-$50,000 with 24-month payback periods, fixed interest rates of 32-45% APR, no collateral required, no prepayment penalties. Minimum qualification: 9+ months operating history, $30,000 annual sales or $2,500 monthly revenue.

Notable customers

Not disclosed; serves 12,000+ businesses across the United States

Website

caminofinancial.com/

Competitors

OnDeck

Larger platform serving more established small businesses; higher APR range; less focus on credit-invisible borrowers.

Lendio

Marketplace model connecting to multiple lenders; broader market reach but less specialized for minority-owned businesses.

Fundera

Loan matching platform with focus on different loan types; less emphasis on community-driven lending model.

CAN Capital

Alternative to traditional loans with revenue-based repayment; targets established businesses with higher revenue thresholds.

Why this matters: Camino Financial addresses a massive market gap: 27 million credit-invisible Americans lack access to affordable capital. By combining AI-powered credit assessment with community partnerships, they've built a defensible model that has funded $350M+ while maintaining strong social impact in underserved communities. The 2023 acquisition of Fundation signals significant consolidation in the alternative small business lending space.

Best for: Minority-owned and first-time small business borrowers seeking $10K-$50K loans without collateral or extensive credit history.

Use cases

Cash-Heavy Retail Business Access to Growth Capital

A family-owned grocery store with strong monthly cash flow but limited credit history applies for a $25,000 loan to expand inventory and open a second location. Camino's CaminoScore technology evaluates their actual cash flow data, approving them at 38% APR—half the rate they'd receive from alternative lenders—enabling sustainable expansion without collateral risk.

First-Time Entrepreneur Launching Service Business

A first-generation immigrant launching a landscaping business has no traditional credit profile but $3,500 monthly revenue from early clients. Camino approves a $15,000 loan to buy equipment and hire staff, using cash flow analysis instead of credit scores, providing the capital needed to scale while building legitimate credit history.

Bilingual Business Owner Skills Development

A restaurant owner uses Camino's largest bilingual content library in the US to improve financial management practices while managing their loan repayment, simultaneously accessing affordable capital and business education to increase profitability.

Alternatives

OnDeck Larger, more established platform with faster funding; better for businesses with some credit history but higher interest rates overall.

Fundation Merged with Camino in September 2023; previously focused on more established SMBs with bank partnerships; now part of combined entity.

CAN Capital Revenue-based financing instead of fixed-term loans; better for businesses with volatile revenue but requires higher monthly sales volume.

FAQ

What does Camino Financial do? +

Camino Financial is an AI-powered lending platform that provides affordable business loans to credit-invisible and minority-owned small businesses. Using proprietary CaminoScore technology and community partnerships, they offer loans of $10,000-$50,000 with fixed rates and no collateral requirements, typically 40% cheaper than alternative lenders.

How much does Camino Financial cost? +

Interest rates range from 32-45% APR on term loans of $10,000-$50,000 with 24-month repayment periods. No collateral is required and there are no early prepayment penalties. Eligibility requires 9+ months of business operation and minimum $2,500 monthly revenue.

What are alternatives to Camino Financial? +

Top alternatives include OnDeck (faster funding for established businesses), CAN Capital (revenue-based financing), Lendio (loan marketplace), and Fundera (loan matching platform). Traditional bank loans are also an option but typically require strong credit history and collateral.

Who uses Camino Financial? +

Camino primarily serves minority-owned small businesses, first-time entrepreneurs, and cash-heavy businesses without traditional credit history. As of December 2023, they've funded over 12,000 businesses across the United States with an average loan size of $29,000.

How does Camino Financial compare to OnDeck? +

Camino specializes in credit-invisible and minority-owned borrowers using cash flow analysis and proprietary AI scoring, while OnDeck serves a broader market with some credit requirements. Camino's rates (32-45% APR) are competitive with alternatives, and their community-driven model and bilingual content library offer additional value not found at OnDeck.