Thank you for your interest in being part of the Underwriting for Racial Justice pilot program. This program will engage up to 20 lenders that are changing elements of their underwriting to explicitly increase lending to people of color in their communities.
Pilot participants will
- Connect, share and learn together about challenges and successful approaches.
- Have access to examples, templates, and aggregate loan approval and performance results from the various programs.
- Have access to a credit risk decisioning model to help determine potential underwriting approaches to eliminate racial bias, manage for risk, and report on their loan program results.
- Have the opportunity to be featured, if desired, in program publications distributed by Beneficial State Foundation.
Other program benefits may include trainings, consultant support, and access to loan guarantee funds, depending on needs identified throughout the program.
This program will take place from 2023-2025; data will be collected for two years of program operations at each institution, and peer group meetings will be held monthtly for at least one year. Data collection may go past 2025 for institutions that start their loan programs later during the period, and peer group meetings may meet for longer than one year if the group chooses to do so.
All applications for the first cohort must be submitted by April 15, 2023.
Please complete this application to participate in the program