Following through on her promise to keep a focus on greater transparency in the franchise industry, United States Senator Catherine Cortez Masto (D-NV) this week filed the SBA Franchise Loan Default Disclosure Act.  S.2162 is a simple, straightforward, 12-line piece of legislation that would require the Small Business Administration (SBA) to publish and update on a quarterly basis, SBA 6A loan default rates by franchise brands for the period of the preceding 10-years. In addition, her bill requires that the information be publicly accessible and clearly and directly linked to the specific franchise brand. This disclosure should be part of any prospective franchisee’s due diligence, whether they’re getting an SBA loan or not and while simple and brief, S. 2162 – would greatly improve the franchise disclosure process.