Latino Brothers Started Loan Company to Help Struggling Businesses
(Photo : Instagram)
Screenshot from: Camino Financial Official Instagram Account

Inspired by their own financial struggles, two Latino brothers launched a loan company to help Latino run successful small businesses, according to an article by Mitu.

Twin brothers Sean and Kenny Salas were born in the U.S. but at the age of 12, they were forced to move to their mother's hometown in Mexico after she had to shut down her Mexican restaurant chain in Los Angeles.

Because of this experience, the twin brothers started drafting a plan to help Latinos run successful small businesses while they were studying at Harvard for their MBA.

In 2014, they launched Camino Financial to "fulfill a promise that no small business owner will ever be left behind."

Tania Chaidez Ibarra, Camino Financial's content marketing manager, told Mitú that while other lenders see numbers, the company sees real people and real business owners. "Our efforts go beyond lending money,"

"We make sure to match our members with the best financing solution according to their goals, needs, and situation, and we provide them with resources and constant guidance," she added. 

From their mother's experience, the Salas brothers learned first-hand how the lack of information can derail a business.

"There's a lack of resources for Latinos to help them manage and grow their business. We want to change that scope and make a difference. We believe in giving back to our community. We believe Latinos are the backbone of America's economy. Now it's time to prove it!" said Ibarra. 

Camino Financial, has helped countless small businesses across 50 industries stay on track to meeting their goals since the loan company launch. Moreover, there are some businesses that even went the extra mile from just meeting their goal. They have also been able to give back to their communities, like the case of Celso Hernandez who is one of the newest clients of Camino Financial. Indeed, Camino Financial but it is not just another lender.

"He has a restaurant in a high-crime area. The improvements he made in his establishment not only attracted more clients and increased his sales, but also allowed him to create job opportunities and help his community in diverse ways," Ibarra said.

Because of the loan funds, Hernandez's business not only brings great profits but is also a role model for other businesses in the area. The restaurant owner plans for the future include getting a liquor license which will attract new customers and increase sales even more.

Compared to other lenders that require businesses to operate for two-year and have annual gross sales of $100,000 before they could be qualified to apply for business loan, Camino Financial only requires candidates to have a business that has been in operation for nine months with an annual gross of $30,000. Moreover, Camino Financial does not require a Social Security Number. 

Aside from originating loans for small businesses seeking an alternative capital source to a bank, Camino Financial also counsels its clients to improve their business credit and lower their interest rate.

For more information about its services, visit Camino Financial's website now.