,,iv  #aafth ,,congress  #ast ,session  
,h4 ,,res4 #cgj  ,,in ,,the ,,house ,,of
 ,,representatives  ,may #i1 #bjai,mr4  
,phillips 7for himself1 ,mr4 ,timmons1  
and ,ms4 ,velzquez7 submitted the       
following resolution2 which was referred
 to the ,committee on ,small ,business  
,,resolution  ,expressing the sense of  
the ,house of ,representatives that     
small business owners seeking financing 
have fundamental rights1 including      
transparent pricing and terms1          
competitive products1 responsible       
underwriting1 fair treatment from       
financing providers1 brokers1 and lead  
generators1 inclusive credit access1 and
 fair collection practices4  ,whereas   
there are more than #cj million small   
businesses in the ,united ,states1      
accounting for #ii percent of all firms2
 ,whereas1 from #bjjj to #bjag1 small   
businesses created #h4d million net new 
jobs1 accounting for more than          
two-thirds of net new job creation in   
that period2 ,whereas small businesses  

are the driving force behind innovation 
and competitiveness in the ,united      
,states and are integral to the         
,nation's overall economic growth and   
prosperity2 ,whereas according to the   
,national ,small ,business ,association1
 #gc percent of small firms used        
financing in the last #ab months2       
,whereas entrepreneurs throughout the   
country face challenges accessing the   
capital needed to create1 sustain1 and  
grow small businesses and at the same   
time1 are increasingly targeted with    
irresponsible lending practices2        
,whereas a small business 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  
clear1 complete1 and easy to compare    
with other financing options1 so they   
can make the best decision for their    
business2 ,whereas a small business     
borrower has the right to expect that   
financing products will not trap his or 
her business in an expensive cycle of   

reborrowing2 ,whereas a small business  
borrower has the right to expect that   
financing is offered to them based on   
underwriting practices that assess the  
ability of the borrower's business to   
succeed and repay2 ,whereas a small     
business borrower has the right to      
honest1 transparent1 and impartial      
communications with all financing       
providers1 brokers1 and lead generators 
regarding loan options1 conflicts of    
interest1 fees1 and the financing       
options available2 ,whereas a small     
business borrower has the right to fair 
and equal treatment when seeking a loan1
 including protections guaranteed under 
the ,equal ,credit ,opportunity ,act2   
,whereas a small business 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 ,act2 and  
,whereas a small business borrower has  
the right to expect that financing      

providers do not use confessions of     
judgment or equivalent legal agreements 
by which a borrower preemptively agrees 
to lose disputes with the financing     
provider3 ,now1 therefore1 be it  ,that 
it is the sense of the ,house of        
,representatives that-- 7#a7 the above  
principles promote the sustained growth 
and vitality of ,america's main street  
businesses2 and  7#b7 ,congress should  
take all appropriate measures to use    
these principles as a framework for     
potential legislation and regulations to
 protect small business owners seeking  
financing that would start1 continue1 or
 expand operations and create jobs4