Small Business Borrowers Bill of Rights

OBDC is proud to have joined the signatories of the Small Business Borrowers Bill of Rights. This group of small business lenders, both nonprofit and for-profit, have committed to adhere to responsible business lending principles. The lack of regulations for small business lenders launched the desire for transparency for small business borrowers. This is a great list of rights for all small business owners. Click here for more detail about each of the following:

 

1. The Right to Transparent Pricing and Terms
2. The Right to Non-Abusive Products
3. The Right to Responsible Underwriting
4. The Right to Fair Treatment from Brokers
5. The Right to Inclusive Credit Access
6. The Right to Fair Collection Practices

Before you commit to a lender, ask them about their stance on these rights. Visit http://www.responsiblebusinesslending.org/ for more details.