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USHCC Endorses Small Business Borrowers Bill of Rights

The United States Hispanic Chamber of Commerce (USHCC) is proud to endorse the Small Business Borrowers’ Bill of Rights. This document outlines protections that, if adopted by lawmakers, would seriously inhibit predatory small business lending practices. The six fundamental rights, as listed in the Borrowers’ Bill of Rights, include:

  1. The Right to Transparent Pricing and Term: A borrower has the right to have the cost and terms of any financing being offered presented to them in writing and in a form that is clear, complete, and easy to compare with other financing options, so they can make the best decision for their business.
  2. The Right to Non-Abusive Products: A borrower has the right to expect that the financing products offered by a lender will not trap his/her business in an expensive cycle of re-borrowing.
  3. The Right to Responsible Underwriting: A borrower has the right to expect a lender is offering financing based on underwriting practices that assess the ability of the borrower’s business to succeed and repay.
  4. The Right to Fair Treatment from Brokers: A borrower has the right to honest, transparent, and impartial communications with a broker regarding loan options, conflicts of interest, fees, and the financing options available.
  5. The Right to Inclusive Credit Access: A borrower has the right to fair and equal treatment when seeking a loan including protections guaranteed under the Equal Credit Opportunity Act.
  6. The Right to Fair Collections Practices: A borrower has the right to be treated fairly and respectfully throughout a collections process and the right to protections like those guaranteed under the Fair Debt Collection Practices Act.

“The USHCC is focused on ensuring not only access to capital, but safe access to capital for Hispanic business owners,” said Ramiro Cavazos, USHCC President & CEO. “The small business lending space is quickly crowding with bad actors— several of our local Hispanic chambers of commerce have noted the degenerative impact of predatory lenders in their regions.”

“It is imperative that the interests of lenders are aligned with the interests of the businesses they finance. We believe the Small Business Borrowers’ Bill of Rights is an excellent framework for lawmakers who aim to support a thriving small business community in America.”



The USHCC actively promotes the economic growth, development, and interests of more than 4.37 million Hispanic-owned businesses, that combined, contribute over $700 billion to the American economy every year. It also advocates on behalf of 260 major American corporations and serves as the umbrella organization for more than 200 local chambers and business associations nationwide. For more information, please visit Follow us on Twitter @USHCC.

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