Tonight Luis O De la Hoz at Google Hangout (en español)

Luis O De la Hoz, Board member SHCCNJ with Susana G Baumann, LIBizus

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.

1. Keep your revolving credit account balances below 30 percent (maximum of 50 percent)
2. 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!