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Research Report 

Fair and Accessible Credit for Small Businesses: A Guidebook for Financial Institutions

Insights from senior executives in the banking and financial services industry from across the world, highlighting challenges in small business lending to minority and protected class segments. The white paper outlines potential solutions that can change the landscape and enable access to fair lending for small businesses, while helping lenders profitably manage risk.

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What You'll Learn in this Report

  • What, exactly, is fair and accessible lending?
  • Are we truly practicing fair and accessible lending?
  • What steps and actions do we need to take to achieve fair and accessible lending?

Report Stats At a Glance

72%

 

of White and Asian small business owners are considered low credit risk, compared to just 49% of Hispanic and 33% of Black owners.

215%

 

more good loans could be accepted for protected class small businesses if lenders expand data inputs beyond traditional FICO scores.

23%-29%

 

more applicants are approved when machine learning with alternative data is used.

Ready to See Real Results With Your Financial Institution?

Solutions from Cornerstone Advisors

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Performance

Cornerstone’s Performance solutions provide a wide range of consulting expertise to help clients identify opportunities to increase efficiency and productivity across their entire organization, whether it’s enhancing the digital experience or optimizing payments. We leverage these services with our proprietary tools, including Performance Vault and Analytics Vault. Armed with unparalleled insider data analytics and benchmarking intel, your bank or credit union will gain the confidence to make sound, data-driven decisions.

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Strategic Planning

Our Strategic Planning services will help your leadership answer the big questions—where are we, where could we be, how do we get there and what’s the impact. Our seasoned consultants will work with you to develop a strategic plan that will empower your organization to achieve tangible “right now” results, as well as build a roadmap for ongoing value creation and success.

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About Cornerstone Advisors

For over 20 years, Cornerstone Advisors has delivered gritty insights, bold strategies and data-driven solutions to build smarter banks, credit unions and fintechs. From technology system selection and implementation to contract negotiations, vendor management, performance improvement programs, strategic planning, merger integration and enterprise program management, Cornerstone combines its expertise with proprietary data and research to help financial institutions thrive in today’s challenging environment. For more information, visit www.crnrstone.com, connect with us on LinkedIn and Youtube, and subscribe to GonzoBanker® for our opinionated take on all things banking.