Since the Magna Carta, people’s rights have sought to have been protected. We are more familiar with The Bill of Rights here in the USA as the collective name for the first ten amendments to the United States Constitution.
As reported recently, there is a small business term loans bill of rights movement being discussed by various people vested in small business lending. The article explains that “states have laws that cap interest rates and fees for loans, but most state laws don’t apply to business loans, says Carolyn Carter, director of advocacy at the National Consumer Law Center. Some lenders partner with banks in states that don’t have such laws.”
It further details that ” a group of lenders, brokers, advocates and nonprofits are pushing what it calls a Small Business Borrowers’ Bill of Rights. The guidelines are aimed at getting lenders to follow standards they say would protect small companies.”
United Capital Source mission statement states our commitment to democratizing small business loans and funding. We applaud the transparency of small business loans and helping to create a level playing field for small business financing across America.