Growth Capital Corp. supports smart, forward-thinking development for small businesses, and that means loan programs that treat you well. To help this, we’re signatories of the Small Business Borrowers’ Bill of Rights, a project from the Responsible Business Lending Coalition to give borrowers protection, security and accuracy in whatever loan program they choose.
The Bill contains six Rights designed to serve borrowers well, no matter what lender they do business with. In order, these are the rights to transparent pricing and terms, non-abusive products, responsible underwriting, fair treatment from brokers, inclusive credit access and fair collection practices.
All of these are aimed at reducing the cost for borrowers while giving them more assistance and support if they need it. Some of the features of these rights, for example, are greater transparency, oversight and inclusiveness.
This last point is especially important as it’s intended to fight against discrimination for borrowers. If you’re a business owner from a disadvantaged community, you still deserve appropriate and equal access to capital.
“Some of the features of these rights are greater transparency, oversight and inclusiveness.”
The Small Business Borrowers’ Bill of Rights may not be an official legislative bill but it does seek to hold lending businesses accountable, and has signatories and endorsers from all over the country. It’s also still growing and changing, with the Coalition updating its Bill of Rights in March 2017.
Because we believe in putting the borrower first, you can look to Growth Capital’s programs for friendly terms that don’t hurt your bottom line or sneak up on you. In addition to this, we have Ohio loans for small businesses that specifically help this statewide community. You can count on cost-effective programs that fit your business’ purpose but also meet best practice guidelines.