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Lender Application for 2023-2025 Pilot Community of Practice

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 May 30, 2023.

Please complete this application to participate in the program

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Type of Institution *
What are the primary reasons you are interested and/or benefits you see in this program (Choose top 3): *
Type of Loans you will provide (Choose all that apply) *
Please describe your best estimations for your URJ Pilot program loans (very rough estimates are fine).  Note that if you have already started making loans with this new underwriting approach, you can include those loans:
Please confirm that you will be able to commit to the following. (Note this is not a formal commitment, but rather an opportunity to evaluate readiness. A subsequent participant agreement form will be provided to all institutions that are accepted into the pilot). I / my institution will: *
Please confirm you will have active participation and input from *
Do you expect to use new / alternative data sources for your underwriting processes? (Examples might include bank account transactions, rent, utility, and telecommunications payment history; accounting software records; payment processing records) *
Where is your institution on its racial justice journey? (Choose all that apply) *
Are you currently collecting or are you planning to collect applicant and borrower race data for the loan program related to this pilot? *
To what extent are your institution’s teams composed of people from your priority groups?
Executive leadership
Loan officers/ lending
Credit and risk management
If a loan guarantee were available to your institution for this program, would you be interested? *
Have you created, or are you considering creating, a Special Purpose Credit Program (SPCP) plan related to this? *
Do you anticipate that your institution will need training or consulting support *
Getting buy-in at your institution
Banking and racial justice - history and present
URJ program implementation
SPCP Plan development