Bank One has formed an alliance with Women Incorporated, a national group of women entrepreneurs, and has established Bank One Business Loan by Phone for Women, a program where credit applications are taken over the telephone in an effort to tap a growing market for bank services.

Bank One's action comes as no surprise; BankAmerica Corp. formed an alliance with the group earlier this year. "Eight million small businesses are owned by women and those businesses are growing faster than most other segments," says Ron Baldwin, general manager of Bank One's national business banking group, noting that women constitute 37 percent of its customers. "Women entrepreneurs need capital and health care (benefits packages) from banks that are willing to provide it."

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