• Member's: Frequently Asked Questions

    Here are some common questions about your Camino Financial loan
  • How Can We Help You?

  • Onboarding

    You can access your loan information anytime and anywhere in the Member Portal. Log in to my.caminofinancial.com and find: - Your loan balance and terms - The day when your next payment is due - Your payment history - A personalized referral link

    Yes! You can earn $175 for every referred business owner that closes a loan with us. Find the information you need at the Member Portal by clicking the button “Refer and Earn”.

    We will automatically withdraw your monthly payment from the bank account you specified in your loan contract. The following tips will help you ensure a smooth payment process: - Make sure your account has enough funds every month to cover your monthly payment - Keep your payment method up to date - Monitor your payments and progress in the Member Portal.

    A copy of your signed contract was emailed to you once you finished signing the document. You can find it by searching “Completed DocuSign” in your email inbox. Learn more here.

    You may qualify for a renewal of your current business loan after 12 months of timely payments. When the time comes, a notification message will automatically appear on your Member Portal account. Click on the button “GET MORE CASH” to start the process. If you don’t see the banner, a loan specialist will contact you to present you with the offer.

    Yes. You can pay off the entire remaining principal at any time. There are no prepayment penalties. Call us at (213) 267-6405 if you wish to pay the full balance.

    Yes. We report every payment you make towards the principal balance to Experian Business Credit, one of the main credit bureaus in the U.S. This will allow you to build a strong credit history month by month.

    You can start a chat on your Member Portal account or contact our Member Services Line, at members@caminofinancial.com or by calling (213) 634-3019. We will be happy to answer any of your questions.

  • Payment

    We will automatically withdraw your monthly payment from the bank account you specified in your loan contract.

    After making your initial payment, you have the option to modify your payment cycle to one of the three available dates: 5th, 15th, or 25th of the month. The process involves contacting us and making a payment for the accrued interest for the number of days you’d like to move your payment cycle (it can be either 10 or 20 days).

    If you're experiencing a temporary cash shortfall and can’t make a loan payment on time, you can avoid the late fee by rescheduling the payment up to 7 days past the due date for a processing fee of $20. But you can only do this if you have a zero past due balance on your loan account. For assistance, contact our Member Services team at (213) 634-3019 or via chat.

    Your account will be charged a late fee equivalent to the greater of $50 or 5% of the scheduled payment, up to $200. The late fee may be incurred as soon you miss a scheduled loan payment.

    If your payment couldn't be processed, you can call our Servicing line at (213) 634-3019 to make your payment over the phone with a debit card or to the account registered with us.

    You can apply prepayments to the total balance of your loan with no penalty.

  • Loan Services

    You can call our Member Services Line at (213) 634-3019 and request a subordination agreement. You need to be current with your loan payments and not have any past due payments. Your request will be assessed by our Loan Servicing team and they will let you know if you are eligible to start the process. If we can proceed with a subordination agreement, we will inform you through the email on file. It is important to clarify that this process must be requested by you. We are not authorized to start this process with the factoring company you're working with.

    Yes, we do have a loan modification program for accounts experiencing unforeseen hardship and that qualify for the program. Please contact our Member Services line at (213) 267-6405 and we will give you further information.

    Please contact our Member Services line at (213) 267-6405 and we will assist you requesting a UCC Termination. Remember that we need to wait 30 calendar days from the date your loan was paid off to start with this process.

  • Credit Reporting

    Currently, we are reporting only to Experian. As new credit reporting agencies are added, we will notify you promptly once they become operational with Camino Financial.

    The credit report updates only once per month, therefore it will depend on your payment cycle.

    No, you’ll have to wait until the next monthly update.

    - If you have your business registered as an LLC, Corp, Inc, etc., the credit report will be sent to your business account. - If you have your business registered as a sole proprietor, it will be reported to your personal account.

    If you have an LLC or CORP you are not personally liable until your personal guarantee is exercised, therefore, we are only allowed to report to your personal bureau once the Guarantor or owner of the business is liable, or according to your contract, when your loan is in delinquency.

    15 to 30 calendar days.

    Once per month

    October 2022

    If you think your credit is being reported incorrectly you can file a dispute through experian, or contact the LSA team.

    If you’re behind on one payment please make sure to pay as soon as possible since late payments will start affecting your credit if the payment goes more than 30 days past due.

    Please contact the Loan Servicing team or the Members Services Team for further assistance.

  • Renewal

    The process in which any member who has been making timely payments to their existing Camino Financial Loan can be eligible to receive additional capital through the refinance of their current loan.

    After 12 timely payments you can apply for more capital.

    Complete an application through the portal or via Renewal Account Executive. Have your last 9 months of bank account statements ready

    Through the portal at https://my.caminofinancial.com/signin/ or via phone at (213)634-2985

    The process can be as fast at 3-5 business days, this will depend on our member’s availability to send all required documentation.

    In some parts of the process yes, but this is a shorter process for most cases.

  • Still need help? Contact us!

  • Stay connected

    Join a community of over 40,000 micro-entrepreneurs for access to informative resources, helpful tips, and best practices on growing your business

  • Mission-driven company

    Camino Financial is a nationally certified Community Development Financial Institution (CDFI) with oversight by the U.S. Department of Treasury. By partnering with other mission-aligned organizations, Camino Financial is able to pool and distribute low-cost funding and educational resources to underbanked minority-owned businesses. Camino Financial is headquartered in Los Angeles, California with supporting offices in Mexico City, Mexico.

© 2024 by Camino Financial, Inc. All Rights Reserved. Camino Financial is a Licensed Finance Lender & Broker in California under its subsidiary Salas & Company LLC.
Camino Financial Better Business Bureau A+ accredited businessCloudflare

309 E 8th Street, Suite #601 Los Angeles, CA 90014 | info@caminofinancial.com| Tel (800) 852-0655 | Fax (213) 260-6222

NMLS License: Salas & Company LLC #2186459 | CFL License: Salas & Company LLC (DBA Camino Financial) #60DBO-43053

CDFI Certification Number: 181CE054231