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California

Bank makes it easy for women and minority entrepreneurs to apply for business loans

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This story appears in the May 2001 issue of Entrepreneur. Subscribe »

Minority and women entrepreneurs can take advantage of a new targeted loan program.

Union Bank of California has created the Urban Enterprise Banking Fast-Step Loan, which lets minority and women business owners apply for loans or credit lines of up to $100,000 using one simple application. Approval can come in as little as 48 hours, and under normal circumstances, credit lines are automatically renewed each year with no additional paperwork. The bank's system relies heavily on credit scoring to approve applicants.

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