Photo By Paul Long | Community Bank customer service representative Teena Davis explains the small business...... read more read more
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YOKOSUKA, Japan - Girl Scouts from West Pacific Girl Scout Troop 235, on board Fleet Activities, Yokosuka toured Community Bank to learn about finance and opening a small business.
According to Tricia Marino, a Troop 235 leader, the tour was a requirement for the Business Owner Proficiency badge.
“With this month being the Month of the Military Child and Financial Literacy Month, I thought it would be a good idea for the girls to come [to Community Bank] and earn one of their badges,” said Marino. “One of the requirements suggested going to a bank and talking to a loan officer about how to get a business loan to get their business started.”
Teena Travis, a Community Bank customer service representative, gave the Girl Scouts a brief overview of the business loan process during their visit. The lecture included the five criteria banks look for when a customer wishes to obtain a small business loan: credit, equity, experience, collateral and the business plan.
“Today was all about loans, how to get a business loan,” Travis said. “We went over the basics for a loan: equity, credit, the application. That way they can have the ‘nuts and bolts’ of what it takes to get a business loan.”
Travis also asked the girls if they could guess the current number of small businesses in the United States.
“I learned that there were a lot of small businesses in the United States,” said Girl Scout Natalie Gough.
Travis showed the Girl Scouts where and how the bank stores money in the bank’s vault and the inside of an automated teller machine.
“I like that I got to see money,” said Mia, Tricia’s daughter and one of the Girl Scouts.
According to Tricia, this lesson helps the girls understand the entire business process.
“The girl’s are already used to selling cookies, but I think this will show them more behind the scenes on how the whole process goes of starting the cookie business, from ordering the cookies to ‘how do I make the profit’ to ‘what should we do with that money afterwards?’” Marino said.
According to Travis, financial education for children is very important.
“If they understand money, they can better manage money, especially when they’re older,” Travis said. “It makes it much easier for them to responsibly manage credit, to know how to save, if they know all of the work they have to do to get a business loan. Hopefully, I got across to some of them that it’s really important to manage your finances to understand what money actually is.”
| Date Taken: | 04.09.2013 |
| Date Posted: | 05.07.2013 01:34 |
| Story ID: | 106458 |
| Location: | YOKOSUKA, KANAGAWA, JP |
| Web Views: | 181 |
| Downloads: | 0 |
This work, Girl Scouts tour Community Bank Yokosuka Branch, by Paul Long, identified by DVIDS, must comply with the restrictions shown on https://www.dvidshub.net/about/copyright.
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