Luis O De la Hoz, Vice President Lending Team at The Intersect Fund, will be addressing important issues related to access to non-traditional funding for small businesses at the Hispanic Chamber of e-Commerce Google Hangout “El poder de los micro prestamos y consejos para construir tu reporte de crédito” tonight September 18, 2014 at 5:00 pm PT/8:00 pm ET. (Free registration Place: www.youtube.com/HISCEC) #Negocios #Credito #Prestamos #LatinosIC
According to De la Hoz, expert and small business advocate, there are three important elements to consider when building or maintaining your credit history:
Open at least three accounts (credit cards, car loan, mortgage, personal or small business loans, or similar) reporting to the credit bureaus that you are paying on time.
- Keep your revolving credit account balances below 30 percent (maximum of 50 percent)
- Always pay on time.
De la Hoz also reminds small business owners that they can save up to $250K in their lifetime by having a good credit score. Where do these saving come from?
- … saving up to $150 each month on your car payment.
- …saving up to $80 each month on your car insurance.
- …avoiding mandatory security deposits when opening an account for a public utility service.
- …. and up to $2000 in security deposit for the purchase of your cellular phone.
Do you want to find out what are the implications of not having a good credit record for your job search in some industries? What are the consequences of not having a good credit history in accessing a college education? These and all questions concerning the best way to build and maintain a good credit history and credit report will be answered tonight at the Google Hangout of the Hispanic Chamber of e-Commerce. Don’t miss it, register now and participate with your questions using the #LatinoIC on Twitter!