The year 2017 was the first year we operated as a direct lender. We did this to have the flexibility to create and customize a loan product fit for underbanked businesses (those earning less than $1 million in sales). We’re proud to announce we quadrupled the number of loans we did in 2016, and we have achieved important milestones that will make us the leading technology platform offering capital and business solutions to small businesses.
What We Achieved in 2017
Grew the total number of loans per year by 400%. Last year we set the foundation to grow, and this year we proved we could grow without compromising our mission and service.
Built technology to make our application process faster, easier and more secure. We rolled out several new features including: i) instant pre-qualification, ii) online review of pre-qualified loan terms, and iii) 100% paperless application, via online, linking to business accounts.
Raised $7 million in capital to fund our operations and offer loans to small businesses. Our growth, technology, and strong credit performance continue to attract investors to support our mission to unlock growth in the small business community.
Launched a new engineering internship program. We’re passionate about cultivating the top talent in technology and business, particularly among minority communities. This year, one of our engineering interns graduated to a full-time position.
Built our content team and published nearly 200 different pieces of content. We want to be more than just a lender. We want to be a partner with all the necessary resources to inspire you and teach you how to grow your business.
Our proudest achievement is that our members continue to be happy with the service we’ve provided them. To date, we have received 128 Facebook Reviews with a 4.5 stars average rating.
What to Expect in 2018
In 2018, our borrowers will no longer be considered clients of Camino Financial; instead, they will be called and treated as members of an exclusive Camino Financial community.
Furthermore, we’ll continue with our objective to leave No Business Behind by extending our membership to entrepreneurs not ready for a loan, and we will launch a program to put them on the “camino” to grow and access capital.
To our members, we’ll offer exclusive workshops and content to give them the tools, resources, and inspiration to WIN BIG.
We also plan to launch a mobile-friendly membership portal so our members can check their outstanding loan balance, save on interest by paying off their loans early, and request more capital with one click!
Our team is proud and happy to serve you. We wish you a Happy New Year and look forward to continuing to build on your partnership.
Sean and Kenny Salas
Founders of Camino Financial