U.S. Bank is introducing a new Business Diversity Lending Program that will expand the ability of diverse business owners to obtain capital, building upon the bank’s broader efforts to support under-represented businesses and help address the wealth gap. Through the Business Diversity Lending Program, U.S. Bank will provide credit and financing to help women-, minority-, and veteran-owned businesses grow and thrive. The U.S. Bank Business Diversity Lending Program is a type of special purpose credit program, or SPCP, permitted by the Equal Credit Opportunity Act (ECOA). These programs are specifically designed to improve access to capital for members of economically disadvantaged classes. U.S. Bank is launching the Business Diversity Lending Program following last year’s acquisition of MUFG Union Bank. Union Bank was a pioneer in implementing an SPCP for small business, launching their Business Diversity Lending Program around 30 years ago. U.S. Bank is continuing this legacy, with expanded impact across the U.S. Bank footprint. With the Business Diversity Lending Program, U.S. Bank is expanding opportunity for a vital portion of the business community. Under the U.S. Bank program, eligible businesses may qualify for reduced credit score and decreased cash flow coverage requirements on most conventional lending products up to $2.5 million. Businesses are eligible if they are at least 51 percent owned and operated by one or more individuals who self-identify as a woman, minority, and/or veteran. To learn more about the program, visit the U.S. Bank Business Diversity Lending program webpage.