✔ Registered business
✔ At least 12 months in operation
✔ Min. business income of $30,000 annually, or $2,500 per month
✔ No collateral required*
Just share basic information about your business and personal finances. We'll let you know if you prequalify in up to 72 hours.
We might ask for different documents and for you to let us verify your cash flow. All that information helps us make a decision.
If we approve your application, we’ll provide an offer. Accept it so we can transfer the funds to your account.
Join 9,000+ people choosing Camino Financial
An installment loan, or term loan, is a financial instrument that provides a borrower with a fixed sum of money paid back through regular, scheduled payments (often monthly). They can be either short-term or long-term. This type of loan typically offers predictable payments and more favorable, fixed interest rates, especially when compared to other lending options, like credit cards or payday loans.
Installment loans are generally preferable as they offer lower interest rates, longer repayment terms, and fixed payment schedules that make the debt easier to manage. Payday loans, while quick and often requiring no credit check, have much shorter repayment periods and exorbitant interest rates, which can trap borrowers in a cycle of debt. Installment loans tend to be a safer and more economical borrowing option.
Small business loans can be either installment loans or revolving lines of credit. Installment loans provide a lump sum and have fixed payments over a set term. Revolving lines of credit allow businesses to draw funds up to a certain limit and make payments on a flexible basis, with credit becoming available once you repay it. The choice between the two depends on the specific financial needs and repayment abilities of the business.
*A personal guarantee and a UCC filing may be required at closing. **ITIN is only accepted for people that don’t have an SSN.