Camino Financial Raises Debt Funding to Support Latinx-and Undocumented-Owned Businesses Impacted by COVID-19
Summary
"As we approach the end of the PPP loan program, were seeing the majority of the funds disproportionally left behind black- and brown-owned businesses," said Sean Salas CEO of Camino Financial. "With the uncertainty of the effectiveness of another stimulus round, Camino Financial is proud to partner with CIM in effort to deploy alternative sources of private capital to help underserved communities that largely contribute to the economy as a whole." Camino Financial has built a database and AI-driven credit underwriting model to fund the underserved Latinx business community at lower rates and better terms compared to market benchmarks. The economic fallout of COVID-19 has created an unprecedented crisis and disproportionately affected Latinx and undocumented business owners," said CIM Managing Partner Jacob Haar. By partnering with Camino Financial, we will get capital to underserved small businesses quickly and efficiently so they can keep themselves afloat."