New York state business disclosures

New York law requires that we ask if a business applicant is a minority-owned business or a women-owned business. New York law also requires us to ask business applicants for their principal owners’ ethnicity and race.

Applicants aren’t required to provide this information, but are encouraged to do so. We collect this information to help ensure that all applicants and communities are treated fairly and that their business credit needs are being fulfilled.

Employees and officers making determinations concerning an application, such as loan officers and underwriters, may have access to the information provided on this form. However, we cannot discriminate on the basis of minority-owned business status, women-owned business status, or a principal owner’s ethnicity, race, or sex. We also cannot discriminate on the basis of whether an applicant provides this information.

What: New York state law requires that we ask if a business applicant is a minority-owned business or a women-owned business
Who: New Brex applicants with a New York state address 
Why: New York Department of Financial Services Rule 76.16 
When: Effective August 8, 2023