Better announced on Wednesday the launch of its Bank Statement home equity line of credit (HELOC) aimed at the 36.2 million small business owners in the United States who often don’t fit within traditional underwriting standards.

The new program lets self-employed borrowers access home equity without tax returns, W-2s or profit-and-loss statements. Instead, applicants can verify income with 12 or 24 months of personal or business bank statements. Better’s TinMan, the company’s end-to-end loan origination system, analyzes those statements to calculate income trends and provide nearly instant approvals.

The program eliminates physical appraisals and streamlines title insurance for loans up details ⇒

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