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LOS ANGELES, April 29, 2021 /PRNewswire/
Camino Financial, a Los Angeles based FinTech focused on lending to Latino-owned businesses, announced today that it has been certified as a national Community Development Financial Institution ( CDFI ) by the U.S. Department of Treasury. Camino Financial is the first national CDFI powered by artificial intelligence, referred to as a neo-CDFI, focused on lending to underbanked businesses. Today culminates a three year journey in becoming a CDFI, said Sean Salas, Co-Founder and CEO of Camino Financial. For a long time, we ve had a strong view that CDFIs play a critical role in narrowing the capital disparity gap experienced among minority business owners. We saw this dynamic further amplified during COVID-19 when CDFIs helped these business communities access PPP and other forms of relief.