Measure creating 'Small Business Truth in Lending Act' heads to Illinois House
The Center Square - 2024-05-03T19:19:00.000Z

(The Center Square) – A bill headed to the Illinois House that aims to provide financial lending protections for businesses is being criticized as being bad for business. Senate Bill 2234 from state Sen. Christopher Belt, D-Swansea, would provide protections for small businesses when taking out a loan by requiring financial terms such as the amount financed, fees and the annual percentage rate be clearly disclosed at the time an online or non-bank provider makes an offer for a...

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