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

By Cynthia E. Griffin

Opinions expressed by Entrepreneur contributors are their own.

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

Union Bank of California has created the Urban EnterpriseBanking Fast-Step Loan, which lets minority and women businessowners apply for loans or credit 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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