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Mark Rhodes
My Small Business Credit News Account
My Small Business Credit News Account

Mark's posts

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SBC targets 10% loan book growth

He added that industrial loans will also increase 10 percent to 15 percent this year, driven by big-ticket infrastructure and power projects.

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Business loans aimed at boosting Native American entrepreneurs

BEMIDJI — Even though the city of Bemidji is surrounded by three Indian reservations, there have been few Native American-owned businesses in town.

Now, a Red Lake tribal member has opened a new restaurant. It's believed to be the first American Indian-owned restaurant in the city. Owner Marv Hanson tapped into a little-used state fund intended to help American Indian entrepreneurs.

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Larimer County credit unions, banks at odds over lending cap

“I know we will hit the limit,” said David Maus, CEO of Public Service Credit Union, which has several offices in Fort Collins. “That causes us not to be as helpful or aggressive as we would like to be.”

Maus maintains Colorado Sen. Mark Udall’s bill to lift the lending cap will enable nonprofit credit unions to spur economic development, create between 140,000 and 150,000 new jobs and benefit consumers without using a dime of taxpayer dollars.

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MasterCard scans social media, calls itself a ‘tech company’

The company's unique social media listening post -- rolled out in April 2012 -- now filters, analyzes and displays postings from 43 counties, in 26 languages, 24 hours a day. Among other functions, it keeps score on where MasterCard stands in social media conversation relating to credit cards. If your post mentions MasterCard, the company's listening post is going to snag it, as long as it is not password-protected.

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A Small World After All? Data Breakdown on Small-Business Lending

Community banks traditionally have been viewed as having expertise in making credit decisions on small, local business borrowers. And to be sure, smaller banks devote more of their balance sheets to these kinds of customers. But giants like Bank of America, JPMorgan Chase and Wells Fargo have been bulking up in this area, hiring hundreds of small-business bankers, as the tide moves against their smaller competitors.

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Udall re-introduces measure to boost credit union lending

The Colorado Democrat was told his bill would receive a Senate vote in the previous Congress. But Majority Leader Harry Reid pulled it from the calendar as the session wound down, saying it didn’t have the 60 votes needed to block a filibuster.

After working to expand support, Udall re-introduced the measure earlier this month with 15 co-sponsors, including liberal Democrats such as Barbara Boxer of California, Independent Angus King of Maine and tea-party favorite Ron Paul of Kentucky.

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Credit-Building Tips for new US Citizen

The credit card you opened with your passport and business tax ID, and future accounts that you start with your Social Security number should be on the same credit reports — and factored into your scores — without you having to do anything

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Loan program targets American Indian entrepreneurs

The Indian Business Loan program has been used just 16 times in the past decade. American Indian Chamber of Commerce chairman Jon Otto, a White Earth tribal member, said that might be because few people know about it.

Indian-owned businesses aren't common in Minnesota. A survey conducted in the early 2000s by the Minnesota American Indian Chamber of Commerce found around 2,500 of them, and chamber officials say the recession took a toll on such businesses, guessing the number might now be half that.

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How to manage your credit (you extend to customers and clients)
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