Did you know that half of all working Americans either own or work for a small business? According to the Small Business Administration, the 28 million small businesses in our country create two out of every three net new private sector jobs. They’re the backbone of our economy.
This Saturday, November 30, is Small Business Saturday, a day dedicated to supporting small business across our country. It was started in 2010 by American Express to boost holiday sales for small businesses and it’s working. Last year nearly 70 million people shopped small in their communities for an estimated $5.5 billion in sales to independently owned small businesses.
Let’s all “shop small” on Saturday and support our local businesses. It’s good for business and it’s good for our local communities.
As our high school seniors are applying to colleges, and sitting down with their parents and counselors to figure out financing, there’s a bit of good news on the tuition front.
“Trends in College Pricing” published by The College Board reports the most recent increase of 2.9% in in-state college tuition at public four-year colleges is the smallest one-year increase since 1975-76. The 3.8% increase in private nonprofit four-year college tuition also is slightly lower than the increases of recent years. Continue reading →
To continue our discussion of the importance of good credit, here are four more tips to help you keep yours in great shape:
6. Don’t max out your credit cards. Your credit utilization rate – how much of your available credit you’re using at any point in time – is an important factor of your credit score. Creditors consider 30 percent or less a healthy utilization rate. It demonstrates you’re using enough credit to be responsible, but not so much that you’re relying too heavily on it. Continue reading →
Do you know why good credit is so important? Simply put, it can make your life a whole lot easier when you apply for loans, jobs, insurance or a place to live. When you apply for a mortgage or a place to rent, banks and landlords use your credit rating to determine if you are responsible and reliable. The same goes for a student loan, a car loan or insurance.
If you don’t have a good credit rating, it’s more difficult to borrow money for any reason, and it’s hard to get a credit card with a low interest rate. Continue reading →
As the government shutdown continues, we want to make you aware of how it’s affecting two of the products we offer, mortgages and SBA loans. In both instances, we’re not expecting any major effect as long as the shutdown is brief.
The primary impact of the shutdown could be to delay the closing of some home loans, since only a handful of FHA staff will be available to underwrite and approve new loans. Most loans take 30 days to close, so if the shutdown is brief, the short delay in processing won’t likely affect the process. Continue reading →