Sponsors (2)
States findings on small-business economic importance and lays out borrower-protection principles for small business financing (disclosure, ability-to-repay, fair collections).
Official title: Expressing the sense of the House of Representatives that small business owners seeking financing have fundamental rights, including transparent pricing and terms, competitive products, responsible underwriting, fair treatment from financing providers, brokers, and lead generators, inclusive credit access, and fair collection practices.
Introduced May 7, 2026 by Lateefah Simon · Last progress May 7, 2026
Declares findings about the economic importance of small businesses and enumerates a set of borrower-protection principles for small business financing. It urges transparent written loan terms, underwriting based on ability to repay, protections against abusive collection practices and preemptive forfeiture agreements, and fair, honest communications between lenders and small business borrowers.