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

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

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

Union Bank of has created the Urban EnterpriseBanking Fast-Step Loan, which lets minority and women businessowners apply for loans or lines of up to $100,000 using onesimple application. Approval can come in as little as 48 hours, andunder normal circumstances, credit lines are automatically renewedeach year with no additional paperwork. The bank's systemrelies heavily on credit scoring to approve applicants.

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