Updates to modules on banking and credit in the Money Smart for Small Business curriculum were released Thursday by the Federal Deposit Insurance Corp. (FDIC) and Small Business Administration (SBA), the bank deposit insurer announced.
The updated Banking Services module now includes a discussion of traditional banking products, non-bank financing options and sources, and how to avoid fraud and scams, the FDIC said. Similarly, the updated Building Strong Credit module explains how a business owner’s personal credit history can impact their business, how business credit reporting works, and how a potential lender evaluates the overall creditworthiness of a small business. A case study brings both modules together and asks participants to put the lessons they have learned into practice.
The Money Smart for Small Business curriculum was launched in 2012 and developed jointly by the FDIC and SBA. It includes 13 modules on topics related to managing and starting a business. The curriculum will be discussed in a webinar Jan. 23.