For more in depth information regarding this article, download the entire report here. This article was written by Brodie Oldham, Vice President of Commercial Data Sciences from Experian Business Information Services. Beyond the Trends is a quarterly report written by Experian Business Information Services. The report offers a unique view of the small business economy based on what we see in the data. With up to date information on over 33 million active businesses and how they perform from a
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It is likely at some point a business owner will need an outside financing source to purchase a new or used piece of equipment or even to supplement working capital needs. In times like this, the resources of your community bank are essential to helping you maintain smooth business operations. First Community Bank and Trust provides personalized support and flexible financing solutions to address your commercial loan needs.   As a business owner, you may ask “how do I start the process
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This blog post was published by Chis O’Shea from SavvyMoney Hub with commenting by Wendy Hoekstra, Vice President – Retail Lending from First Community Bank and Trust. What you should know about title insurance companies. People buy and sell houses all the time. Yet how many of those people understand what the title is and what a title insurance company does? Titles are a big part of buying or selling a home. Here’s what you should know. Title Company Basics A title
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This blog post was published by Chis O’Shea from SavvyMoney Hub. How hard inquiries impact your credit score When you apply for a mortgage, a personal loan, a credit card, or an auto loan, the lender checks your credit report to determine your creditworthiness. When that happens, it’s called an “inquiry.” And there is such a thing as too many inquiries. Here’s what you need to know. Hard Inquiry vs. Soft Inquiry There is a difference between hard inquiries
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This blog post was published by Chris O’Shea from SavvyMoney Hub. What you should know about soft credit pulls. A soft pull, or soft inquiry, happens when someone checks your credit report, like in the case of a pre-approved credit card offer. Unlike a hard pull, a soft pull does not impact your credit score. Here’s everything you should know about soft pulls and who can do them. The Basics A soft inquiry occurs when someone, or a company, checks your credit report. These
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This blog post was published by Jean Chatzky from SavvyMoney Hub, with reporting by Casandra Andrews. Follow these fraud prevention tips to help protect seniors from losing their savings It seems like scammers never sleep. Criminals are constantly coming up with creative ways to steal money from unsuspecting people, especially older Americans. Each year, millions of elderly adults in the United States fall victim to financial frauds, suffering $3 billion or more in losses, according to the
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This blog post was published by Chris O’Shea from SavvyMoney Hub. Steps to prep for a mortgage Buying a home is exciting, but you must make sure you have all your ducks in a row before undertaking such a big financial move. The more you plan, the better off you’ll be. Here are some steps to take that will prepare your finances for a mortgage. Raise Your Score One of the most important things to do before applying for a mortgage is to make sure your credit score is as high
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This blog post was published by Jean Chatzky from SavvyMoney Hub, with reporting by Casandra Andrews. Steps to help cut spending on household-related costs Do one thing: If you are spending more than you earn, hit the pause button on all but your most basic necessities. The best way to get out of a hole is to stop digging. Millions of Americans are worried about money, with nearly 75% of U.S. adults saying they are stressed about finances. And a little more than 60% of Americans are
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This blog post was published by Jean Chatzky from SavvyMoney Hub, with reporting by Casandra Andrews. Why track spending and saving? Because what gets measured gets managed   If you already live on a budget and have been dutifully checking your spending plan at the end of each month, bravo! Unfortunately, research shows that not everyone is disciplined enough to track their financial habits with regularity. For those who could use a little — ahem -– nudge, read on. In
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Beecher, IL. (April 4, 2024) First Community Bank and Trust (FCBT) and the Independent Community Bankers of America (ICBA) are celebrating Financial Literacy Month in April by encouraging Americans to take control of their financial future and learn fiscally responsible habits that can benefit them at every age and stage of their financial journey. Twenty-seven percent of Americans report that “just getting by financially or finding it hard to get by” describes them completely or very
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