The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.
Along with co-founder Daniel Guillen, the 30-year veteran of the profession is building a firm that he says has given him his "second wind" for the future.
Texas National Bank in Mercedes, Texas, is testing how alternative data can improve the speed and accuracy with which it lends to its small-business customers.