Action Center

Currently the federal Truth in Lending Act (TILA) requires that consumer creditors disclose critical financing information, including annual percentage rate (APR), in a clear and comparable format. However, Congress has yet to extend these disclosure requirements to small business loans and other credit products, which means small businesses are vulnerable to irresponsible lenders. As small businesses recover from the pandemic, it should go without saying that transparent lending shouldn’t be up for debate.

To support small businesses in every corner of America, we are calling on Congress to take bold action to ensure we can recover from the pandemic. This includes prioritizing the following measures in the American Jobs Plan and American Families Plan like physical infrastructure, broadband access, benefits and resources and small business contracting standards.

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We know many small businesses want to take care of their employees but don't have the resources to offer robust benefits, like paid family and medical leave, which can put them at a disadvantage when attracting and retaining employees. That's why we're working with Main Street Alliance, the American Sustainable Business Council and others to educate policymakers on Capitol Hill about why we need a national paid family and medical leave insurance program that would make it easy and affordable for small businesses to access paid leave. If you're interested in this effort, please sign our letter today! 

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Small Business Majority maintains a story bank that chronicles the personal experiences of small business owners across the United States. In today’s world, entrepreneurs like you often make tough decisions affecting their bottom line, and we want to hear about them. We are committed to ensuring your voice is heard by policymakers on some of the most important issues affecting small businesses so we can advocate on your behalf.