Are you considering applying for a small business loan in 2018? Now is the time to start and make a commitment to better spending habits, more savings and an improved credit score. You will need to make sure all of your “financial ducks” are in order before making a serious commitment. Learn how to determine the right amount of debt to take on and how to develop a recovery plan when overwhelmed.
- What can impact your score to increase or decrease
- Cost of having good vs. bad credit
- Your rights as a consumer
- Opt Out Options
- How to get your official FREE credit report
- Tips to avoid identity theft
- New credit card rules and policies
We will also be introducing a new program we have with HSBC – Secured Credit Card to help small businesses build their business credit! More info below:
The HSBC Secured Credit Card program provides business and credit counseling, matched savings grants, and access to the mainstream banking system to those seeking to improve their financial stability.
Participants of the HSBC Secured Credit Card Program receive the following benefits:
Business Development Center (BDC) Training and Counseling
- Access to all BDC classroom trainings and one-on-one counseling which provide nascent and existing entrepreneurs with the tools to operate sustainable businesses and successfully manage their personal finances. BDC services include credit/financial counseling, business development training, technical assistance and access to capital.
HSBC Savings Account
- Access to a savings account through HSBC.
HSBC Secured Credit Card
- 0% Introductory interest for 12 months
- $0 Annual fee
- Graduate to regular credit card with proven credit worthiness
$500 Matched Savings Grant
- Participants who successfully save $500.00 will receive a $500.00 matched savings grant. The total $1,000.00 is then available for usage to open a HSBC Secured Credit Card.
PROGRAM ELIGIBILITY AND REQUIREMENTS
In order to receive a matched savings grant, participants must meet the following requirements:
- Be an existing business owner in the City of Los Angeles (with proof of business)
- Enroll into PACE BusinessSource Center
- Complete at least two hours of business or credit training
- Make a deposit of $500.00
- Remain in the program for at least 12 months