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:
- The Right to Transparent Pricing and Terms
- The Right to Non-Abusive Products
- The Right to Responsible Underwriting
- The Right to Fair Treatment from Brokers
- The Right to Inclusive Credit Access
- 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.
