Frequently Asked Questions

How much money can I borrow?

Camino Loan Fund makes loans from $1,200 up to $100,000. Loan amounts are determined after application review.

What are the interest rates/terms?

Camino Loan Fund offers affordable, fixed interest rates from 4% to 9%. Interest rates are determined after application review. Loan terms are 1 year up to 6 years.

What can I use my loan for?

Loan funds can be used for business expenses, including but not limited to:

  • Working capital

  • Inventory or supplies

  • Materials

  • Machinery or equipment

  • Business vehicle (food truck, Trailer)

  • Marketing

  • Refinancing debt

  • Professional training

Do you accept ITIN borrowers?

Yes. Camino Loan Fund serves U.S. citizens, permanent residents, and ITIN holders. Note that loans to ITIN holders follow the same lending guidelines, but additional documents may be requested.

Do I need to have credit history?

Your credit history or credit score alone will not qualify or disqualify you for a loan, but it may impact the approved loan amount.

What documents do I need to submit?

  • Copy of a valid ID and photo

  • Copy of Social Security or ITIN letter

  • Copy of the last 3 years of taxes (personal and business)

  • Last 3 months of personal and business bank statements

  • Monthly budget

  • Detailed project cost/quote

  • Payment of Application fee

  • Registration, Permit and Business Licenses accordingly.

For more information, call at 205.942.5505
or email caminoloanfund@hicaalabama.org