Beneficial State opened in Oakland in 2007 with an unusual ownership structure: the economic rights sit with a foundation, so profit cannot be paid out to private shareholders. The bank is a certified CDFI and B Corporation working in California, Oregon and Washington, and it publishes exclusions that keep its credit away from fossil fuel extraction, private prisons and predatory consumer lending. Business clients skew towards nonprofits, cooperatives, food producers, clinics and community focused firms.
Owners who want their deposits funding something specific get a clear answer here. The trade off is scale. Branch coverage on the West Coast is thin, business account pricing is average, and companies needing sophisticated cash management or very large facilities will outgrow the bank. Loan decisions can take longer than at a volume SBA shop.
Address: 1438 Webster Street, Suite 100, Oakland, CA 94612
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