Business Advisors
Can we share pre-qualification terms to an applicant?
Yes, we can share to them the pre-qualification general terms
What is the time frame for a Balance Certificate to be sent to a member?
1 Business day and it is sent to the email on file.
I’d like to ask for more details on the approval terms, who can I speak with?
Connect the Call with the Assigned Opportunity Owner, if not available, please set a time for the AE to call him back.
How long does it take for the capital to be funded after I signed my loan contract?
We will transfer the funds to the bank account you registered during the application process within the next 48 business hours.
How many days does it take for the Earth to orbit the Sun?
365 Days
Is the SDR in charge of taking applications?
No, a Sales Development Representative is in charge of running a brief Pre-Screening and client profiling in order to determine the best candidate for our application journey.
I am requesting a subordination agreement, can you guys provide me that?
Requests via MS will be submitted to LSA for approval. It may take 30 business days
Should I have my business registered to get the loan with Camino Financial?
Yes
20 Dollars. This fee should be paid upfront in order to move any payment.
Which artist painted the ceiling of the Sistine Chapel in Rome?
Michelangelo
Our PQ Team on the BA side focuses on bringing our Pre Qualified Leads into an opportunity. This is done by collecting the Last 9 months of Financial Statements through our PLAID Platform.
Can I change the payment cycle of my active loan?
After making your initial payment, you have the option to modify your payment cycle to one of the three available dates: 5th, 15th, or 25th of the month. The process involves contacting us and making a payment for the accrued interest for the number of days you’d like to move your payment cycle (it can be either 10 or 20 days).
Fill the blank space: A loan offer is valid for ____ days
15 days
What happens if I don't make a timely payment?
Your account will be charged a late fee equivalent to the greater of $50 or 5% of the scheduled payment, up to $200. The late fee may be incurred as soon you miss a scheduled loan payment.
Name Disney’s first film?
Snow White, 1937
PQ Team main goal and KPI?
To bring as many Apps as possible to ensure a high App Rate and maintain a Response Rate of less than 5 min after the lead is created.
I was made aware I have a UCC Lien, I’ve already paid off, when will it be removed?
UCC Lien is removed 30 calendar days after the payoff date. If it’s been more than 30 days, MS will open a case for LSA to remove it. This process typically takes a maximum of 7 business days.
Which document is used to validate the ownership breakdown of a business? Complete name
NOA (Notarized Opperating Agreement)
Does the credit report go to my business account or to my personal account?
If you have your business registered as an LLC, Corp, Inc, etc., the credit report will be sent to your business account.
If you have your business registered as a sole proprietor, it will be reported to your personal account.
What does ACH stand for?
PQ Team main informative points to tackle are?
Time in Business and Operating: 9+ months
Avg Monthly Income of $2,500/month that is available via a Traditional Bank Account*
Must be located in the US(Excluding Puerto Rico, New Jersey and Hawaii)
Must Apply using ITIN or SSN - EIN are not accepted
I was made aware I have a UCC Lien, I’ve already paid off, when will it be removed? Also, mentions how long does it take to be removed after a case was created?
UCC Lien is removed 30 calendar days after the payoff date. If it’s been more than 30 days, MS will open a case for LSA to remove it. This process typically takes a maximum of 7 business days.
In which states we require a commercial disclosure signature before sending loan contract?
New York and California
How many days behind a member should have to be eligible to reschedule his loan?
After 90 days of past due status.
What does BMW stand for (in English)?
Bavarian Motor Works