Bloomingdale Bank & Trust, 165 W. Lake St., Bloomingdale, IL
We’re hosting a free money smart class, “Credit Reporting for a Small Business,” on Tuesday, May 19 held at Bloomingdale Bank & Trust, 165 W. Lake St., Bloomingdale, IL at 8 a.m. A continental breakfast will be served.
After completing this course, you’ll be able to:
• Explain the concept of credit reporting and the impact of credit reports on the operation or growth of a small business
• Identify the credit reports and other reporting systems commonly used to assess the risk of extending credit to a small business
• Explain how credit reports work
• Identify the benefits a small business derives from a positive record of managing its debts and obligations
• Identify risks to a business from credit-related scams or frauds and take steps to avoid or mitigate harm caused by them
• Identify the common business practices and products, tools, and services that are available for a small business to help in proper credit reporting
• Identify strategies for building or improving business credit
• Explain how the personal finances of a business owner impact the ability of a business to get credit
Money Smart for Small Business is a new instructor-led training curriculum developed jointly by FDIC and SBA. The modules in this curriculum provide introductory training for new and aspiring entrepreneurs on the basics to organizing and managing a business. The topics for the training modules were selected as a result of focus groups and interviews with small business technical assistance practitioners. In addition to grounding participants in the basics, the curriculum serves as a foundation for more advanced training and technical assistance.
Roselle Bank & Trust and Bloomingdale Bank & Trust are branches of Schaumburg Bank & Trust Company, N.A.