We believe

traditional banks are expensive, inefficient, and fraught with bias—they’re not only wrong, they’re also out of touch with what small business owners today want and need.

bias in banking is costing small business owners their livelihood and costing our economy its ability to return to thriving.

that building a more equitable bank system begins with better technology.

in a different way of banking, one built on success, not failure. When small businesses succeed, everyone succeeds.

the old way isn’t good enough anymore.

Our story

Our founder first witnessed the struggles small business owners face with banks at a very young age. His father was a successful small business owner in North Carolina. He had a vision for expansion, a track record of reliability, and a plan to expand his pulpwood logging business to nearby states.

He applied for 13 small business loans.

He was rejected for every one.

And he isn't alone.

In 2021, the U.S. Federal Reserve’s Small Business Credit Survey reported that a significantly higher percentage of non-white business owners were denied loans in comparison to white business owners.1

Outcomes of loan, line of credit, and merchant cash advance applicants

Prior 12 Months (% of employer firm loan, line of credit, and cash advance applicants)

White
N=1,688
55%
23%
22%
Asian
N=155
45%
26%
30%
Hispanic
N=226
32%
29%
39%
Black
N=350
24%
27%
49%
Fully approved
Partially approved
Denied

In a study conducted by the NCRC during the pandemic, 16 out of 30 female business owners encountered more unfair treatment when applying for PPP loans, such as withholding helpful information and discouragement; as opposed to 5 out of 30 of the male counterparts.1

Infographic: 53% or 16 out of 30 women encounter unfair treatment during P.P.P. application, as opposed to 17% or 5 out of 30 men.
% women vs men encountering unfair treatment during PPP loan application

In 2015, we created technology that measures creditworthiness without subjective human bias—the BetaScore. We sought out to form a financial institution built around our core belief:

Fair access to capital is fundamental to economic empowerment.

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