Fair access to credit is essential for financial mobility. It allows individuals to build credit, qualify for affordable loans, buy homes, finance education, and manage unexpected expenses. Without credit, families are denied the tools needed to build stability and generational wealth.

Small businesses depend on credit to survive and grow. Credit helps entrepreneurs manage cash flow, cover payroll and inventory, invest in equipment, and expand operations. It also provides a critical buffer during economic downturns.

In fact, most small businesses rely on credit cards and loans to operate and many even depend on the owner’s personal credit to secure financing. Without accessible, affordable credit, small businesses are more vulnerable to failure, especially in underserved communities.

Expanding access to safe, transparent credit is essential to closing opportunity gaps, strengthening small businesses, and building a more inclusive economy. Ensuring that all Americans can access and build credit remains unfinished and urgent work. Any policy that is a threat to credit access is a threat to economic opportunity and upward mobility.