Posts Tagged: borrowers
A loan document package ready to be signed. (Photo: nik93737 via Shutterstock)
OPINION: “Small businesses are the backbone of the economy.” We hear this all the time from elected officials, but the data show it’s much more than a political platitude. California’s four million small businesses employ 50% of the state’s private sector workforce, and accounted for two-thirds of job creation over the last seven years. They lifted us out of the Great Recession. But small business owners still grapple with acute challenges, particularly access to affordable credit.
A photo illustration depicting sky-high interest rates. (Image: Becky Stares, via Shutterstock)
OPINION: High-cost, extreme interest rates are having a detrimental impact on the financial stability and well-being of both credit markets and borrowing consumers. We strongly support Assembly Bill 539 (Limón) as the right approach for consumers to have a loan that is affordable and accessible while promoting a sustainable, healthy credit market for lenders.
A photo illustration using stacks of quarters to show rising interest rates. (Photo: Doubletree Studio)
Would you take out a loan for a new home if you didn’t know the interest rate? How about for a car? Or even for a credit card? More than likely, not.