Q1 2021

The Q1 2021 Camino Financial Latino Small Business Credit Survey shows unique insights on credit trends and the impact of COVID-19 on microenterprises.

Larger Latino Small Businesses are Applying for Credit Again

The proportion of credit applications from larger Latino-Owned Businesses (LOBs) increased relative to smaller businesses.

Credit applications from highest-revenue businesses (>$250K) is up from 22% in Q4 to 27% in Q1

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Credit applications from mid-tier businesses (annual revenue $100K-$249K) shrank considerably from 32.2% to 26.9% quarter over quarter

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LOBs Remain Optimistic,
But the Bar is Low

In Q1, LOBs reported an average annual revenue of $258K. Even if they retain or improve this level of income, it is less than half the general market average of $600K annually. This is not adequate to provide a secure income, much less build a pathway to long-term generational wealth.

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80% of Latino business owners say that their business will be the same or better than before the pandemic

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45% of LOBs have gross revenues of less than $9K per month

LOBs Left Out From 2nd Round of Stimulus Funding

LOBs applied and received funding in significantly lower amounts because they could not, or believed they could not complete the application process.

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12% of LOBs received COVID relief from the government

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32% of LOBs did not receive relief because they didn’t have resources to apply or were disqualified for technical reasons

LOBs Must Be Supported Through Education and Training to Fully Recover and Grow

The ability of LOBs to remain open and recover depends on the speed of the recovery and the economic support available.

View other quarters

Q4 2020

Summary:
This edition of the survey marks exactly one year since Camino Financial released its first Quarterly issue. We take this opportunity to review the year and highlight the impact of COVID on access to credit by Latino-Owned Businesses (LOBs).

Q3 2020

Summary:
This quarterly issue follows the impact of the pandemic on Latin-Owned Small Businesses: their chances to get PPP, how much operational cash they have, their resiliency, and how much they’re recovering.