The success of a small business is proportional to the investments it receives. Many times, though, the lack of capital stops it in its tracks. In addition, during hard times, many business owners find it difficult to pay the salary of their employees or the rent of their office.
Fortunately, small business loans in Florida are excellent solutions to overcome difficulties. They are also the growth opportunity you have been waiting for.
Small Businesses in Florida need more help
Unfortunately, businesses in Florida don’t always get the capital they need. According to the Florida Small Business Confidence Index from the Florida SBDA, during 2017, more than a third of business owners struggled to get a loan. This is an increase from the previous year.
We cannot allow these numbers to keep rowing and let small businesses in Florida to run out of funding.
In this article, we’ll show you how to access the financing you need in three simple steps so that your small business in Florida can access the financing it needs.
Owners Have Difficulty Obtaining Small Business Loans in Florida
A significant part of small businesses in Florida cannot get the external financing they need, so they end up having difficulties growing and staying afloat.
Business owners face many issues
According to a Small Business Credit Survey by the Federal Reserve Bank that compares small and large companies, small businesses:
- face more financial problems
- make more use of their personal finances (instead of their business ones)
- are more likely to have financial deficiencies
- are less likely to obtain financing from large banks
Complex lending processes
Although everyone should have access to capital, traditional lenders sometimes make it difficult to obtain it, particularly for smaller businesses.
Long application processes, collateral, high credit scores, high fees… there are countless requirements that end up being obstacles that stand between business owners and the financing they desperately need for their projects.
Or if we consider SBA loans, they are very difficult to get and they take several months: this does not allow businesses to have the necessary working capital to grow.
Finding the right loan company used to be very difficult… but no more.
The easy and accessible alternative
At Camino Financial we are different. We understand the challenges small businesses face and know that their survival and growth depend on getting the capital they need when they need it. That’s why we offer small business loans in Florida.
Camino Financial’s accessible loans are an alternative you should consider, especially if you are a small business owner going through difficult times.
A Loan from Camino Financial is the Right Option for your Business
We offer microloans and small business loans in Florida. To access the capital you need, you must meet these requirements:
- have been in operation for at least 9 months
- earn $30,000 in annual sales
- own at least 50% of the business
Our financial products
Get a more in-depth look at our financial products:
Camino Financial Small Business Loans
|Camino Financial Microloans|
|Annual interest rates||12% to 24.75%||25.5% to 40%|
|Loan payback period||24 to 60 months||24 to 36 months|
|Type of rate||Fixed||Fixed|
|Loan size range||$10,000 to $400,000||$5,000 to $75,000|
|Origination fee (% of the loan amount)||5%||6.99%|
|Early payment penalty||None||None|
|Time from application to funding||3 to 10 days||2 to 14 days|
We care about you
Contrary to banks and other lenders, it is easier to get a small business loan at Camino Financial:
- You don’t need a social security number. You can apply with your ITIN.
- We don’t require collateral. Other lenders will ask you to put up your house or other assets as collateral in case you cannot pay them back, we don’t.
- You don’t need to have a credit score. We can approve the loan you need, even if you don’t have a credit history.
- The online application process is simple and secure. You’ll know, in no time, if you qualify for a small business loan or a microloan.
- You can access the funds in as little as two days after submitting your application.
What Makes Us Different: our benefits
And that’s not everything! We have amazing extras that stand us out from the competition:
- You’ll be able to improve your credit score
- We offer customer support in your preferred language: English or Spanish
- You’ll be paired with a loan specialist that will make sure your business is on the right path to success
- You will have exclusive access to webinars that can help you become a better business owner and improve your profits
- You’ll receive our member’s newsletter with amazing educational resources to further your business
- You’ll have the opportunity to get a better loan with fewer interest rates and more time to pay if you make 9 timely payments
Small Business Loans in Florida
If you have a business in the Sunshine State and you apply for a loan, you can invest it in many ways.
The possibilities for growth are endless.
With capital, you can take advantage of all the tourism Florida has, especially if you have a restaurant or a hotel business. With your hard work and our help, the opportunities for your business to thrive are enormous.
Let’s grow together
We know that you might need extra money to keep your business running, we also know that traditional lenders are not always willing to lend to small businesses.
We are committed to helping you!
At Camino Financial we can offer you from $5,000 to $400,000 with competitive interest rates in as little as two days. You’ll be able to finance small projects or even more ambitious business plans.
3 easy steps to apply for a loan at Camino Financial
If you have been looking for small business loans in Florida, you are in the right place. You just have to follow three simple steps to apply for one:
1. Online pre-approval: simple and easy
Fill out a simple and fast application form. You just need to give us basic information about you and your business. You will know if you pre-qualify to access a loan in 24 hours or less!
2. We’ll match your business with one of our loans
If you prequalify, you’ll need to submit some business documents, like your financial records. After our loan specialist reviews them and determines the profile of your business, we will find the loan that meets your needs.
3. Accept your offer and receive your capital
You will receive a final offer with the terms of your loan. After signing it, you’ll receive the funds directly into your bank account.
The online application process is very simple and completely safe. Our specialists are more than happy to help you, in Spanish or English, so that you understand all the information and terms.
Businesses in Florida Need Capital
Florida’s economy is the fourth largest in the United States and small businesses are the primary source of revenue.
In the Sunshine State, during 2019, there were 2.7 million small businesses that employed 3.5 million workers. Last year, they created 133,441 new jobs.
But then, COVID-19 hit and setback the state’s economic growth. Florida’s stronger industries, like tourism, has to suddenly close. Hotels, restaurants, and retail stores were affected in ways no one could have expected. Since March of this year, there have been more than 2.5 million unemployment claims filed.
Despite the negative effects of the pandemic on Florida’s businesses, we want you to know that even in these uncertain times, there is room for growth.
Our message to you is: this is a good time to think about external financing and small business loans in Florida.
Think about it, a loan can help your small business survive this crisis. With external financing, you will be able to keep or create jobs, pay salaries, invest in supplies, raw materials, and pay your suppliers. Also, by helping your business thrive, you will give a hand to the State’s economy.
A small business loan can also help you expand your business or help you invest in new projects that allow you to grow even further.
Small Business Loans in Florida: An Opportunity to Grow
It’s time to think about your small business beyond the crisis and what you want for it in the future. A loan can help you build that future.
Get the capital you need, today!
At Camino Financial we have loans and microloans tailored to your company. They are very easy to access and come with many advantages. We don’t leave any businesses behind. We are on the side of all business owners in Florida and will be more than happy to help you.