The impact of our efforts resulted in almost all members having at least 2 months cash on hand to weather the storm, compared to national benchmarks where most businesses only have a few weeks of cash on hand. By end Q4 2020, Camino Financial reached historical high loan volumes in lending to its existing borrower base. In total, Camino Financial offered relief programs to nearly 25% of our loan portfolio and never stopped lending to our existing borrower base. With many Latino-owned businesses unqualified to receive government relief programs, Camino Financial focused its efforts on offering relief payment programs and capital to these businesses. Doubled down on supporting and capitalizing our members You can read references of the Latino Small Business Credit Survey in the Wall Street Journal, Reuters, NBC, and El Diario. Our goal is to bridge this gap in research and demystify the Latino credit market, so more resources and capital can be invested in the segment. Lack of research on the market can lead to missed opportunities - we saw this in the structural challenges inherent in PPP and other government relief programs that inhibited capital in reaching the Latino community. The research is intended to help policymakers, investors and other community stakeholders make informed decisions about the opportunities and challenges inherent in lending to Latino-owned businesses. Launched the quarterly Latino Small Business Credit Survey, comprising the largest data set of its kind of more than 25,000 credit applicants. Released largest quarterly credit survey on the Latino Business market We are also working on and directing our members to other state level relief programs that have less restrictions, especially on the immigration status of business owners. In particular, Camino Financial helped launch the $10 Million COVID-19 Response Initiative in collaboration with Community Investment Management. Given that over 50% of our borrower base does not qualify for government assistance, we expanded our relief programs and content beyond PPP and EIDL. These efforts enabled 16.6% of Camino Financial members to access government relief funds, compared to market benchmarks of 2.5%. We quickly distributed content and organized digital workshops to enable businesses owners to educate our members on relief funding available to them. In direct response to their capital and resource constraints amid a global pandemic, Camino Financial took initiative to build one of the largest bilingual content hubs available on COVID-19 relief funding. This year small business members needed us the most. Our Impact Latinx small business members were 6.6x more likely to access PPP or other relief programs funds To commemorate the resiliency of our small business members and associates, please take two minutes to watch the our 2020 Stronger Together video. The great news is we ended on high notes across the company and set the foundation to build up to new heights for the indefinite future. As we reflect on 2020, this year marked the lowest lows and the highest highs for Camino Financial.
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