Bluevine and National Community Reinvestment Coalition Join Responsible Business Lending Coalition

WASHINGTON, Oct. 4, 2023 /PRNewswire/ -- The Responsible Business Lending Coalition (RBLC), a network of non-profit and for-profit lenders, investors, and small business advocates committed to expanding access to responsible financing for the nation's small business owners, today announced the addition of two new member organizations.

Joining the coalition are Bluevine, which provides a one-stop digital banking platform specifically designed for small businesses, and the National Community Reinvestment Coalition (NCRC), a network of organizations and individuals dedicated to creating a nation that delivers opportunities for all Americans to build wealth and live well. Since launching in 2013, Bluevine's innovative and intuitive products, including business checking, integrated accounts payable, and lines of credit, have helped more than 500,000 business owners save time and money so they can focus on what matters most: growing their business. NCRC represents more than 700 members, including nonprofit community development and finance organizations; community organizing and civil rights groups; minority and women-owned business associations; state and local government agencies; and faith-based institutions.

"Bluevine has demonstrated remarkable leadership in advocating for responsible practices in the small business financing industry. NCRC is a longstanding champion for building more inclusive and fair financing and lending markets," said Joyce Klein, Chair of the Responsible Business Lending Coalition and Senior Director of the Business Ownership Initiative at the Aspen Institute. "We are thrilled to welcome them to the Coalition and look forward to benefiting from their expertise as we work to create a healthier financing landscape for America's small business owners."

"Joining the RBLC as a corporate member is a natural fit for Bluevine. RBLC's commitment to defining and advocating for responsible practices in the small business lending sector along with its diverse membership of for-profit and nonprofit organizations are squarely aligned with our company's core values," said Sharon Carmeli, Bluevine's General Counsel and Chief Compliance Officer. "We look forward to supporting the incredible work the RBLC has been doing to advance public policies, like commercial disclosure requirements, that provide small businesses the opportunity to unlock their full growth potential."

"NCRC is thrilled to join the RBLC to continue pushing for better laws and healthier business practices," NCRC President and CEO Jesse Van Tol said. "RBLC's work to protect small business owners from opaque and unscrupulous high-cost loans and lines of credit has resulted in tangible benefits. By passing Small Business Truth-in-Lending laws in several states, RBLC has supported small business entrepreneurship -- and rewarded pro-consumer lenders by preventing a race-to-the-bottom lending climate. NCRC looks forward to contributing to the momentum to advance opportunities for small businesses."

Responsible Business Lending Coalition
The Responsible Business Lending Coalition (RBLC) is the leading cross-sector voice on small business financial protection. The coalition includes nonprofit and for-profit CDFIs, fintechs, investors, and small business advocates that share a commitment to innovation in small business lending and serious concerns about the rise of irresponsible small business lending. The coalition created the Small Business Borrowers' Bill of Rights, the first cross-sector consensus on the rights that small business owners deserve and what financing providers, brokers and lead generators can do to uphold those rights. Over 110 small business lenders, brokers and lead generators, and advocacy organizations have endorsed these standards. Members of the Responsible Business Lending Coalition include Accion Opportunity Fund, the Aspen Institute, Bluevine, Camino Financial, Community Investment Management, LendingClub, the National Association for Latino Community Asset Builders, the National Community Reinvestment Fund, Opportunity Finance Network, and Small Business Majority. For more information, visit www.borrowersbillofrights.org.

CONTACT:
Cassie Mills | VP, Communications
(202) 289-6271 | [email protected]

SOURCE Responsible Business Lending Coalition