Significantly impacting the economy and employment is the ability of small businesses to obtain financing. Banks should be required to report statistics to FDIC and state offices on its percentage of loans to small businesses. Any small business that is denied a loan should be provided a scorecard that states what the lending organization requires vice how well the small business scored. Any small business requesting a SBA guaranteed loan (initial or subsequent) should be provided with the lending organizations minimum score for loan approval , its average score to be granted a small business loan, and its average lending rate along with specific instructions on how the small business could improve its score to obtain a loan or lower rate. Consumers are provided more info than the SB.
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