June 18, 2018
Apart from contributing to the growth and comprehensive development of small businesses, there are numerous benefits associated with Small Business Administration Loans. The Small Business Administration is a federal agency that specializes in guaranteeing necessary loans that are made through lending partners throughout the nation. Somerville Bank is one of those lending partners. If you want […]
Continue ReadingJune 4, 2018
If you are attempting to gain approval for an auto loan, you should skip the dealership and opt to work directly with a bank. There are many benefits of bank auto loans. Bank Auto Loans Throughout history, most individuals seeking to purchase a new or pre-used vehicle have obtained financing as arranged through the vehicle […]
Continue ReadingFebruary 26, 2018
A credit report is a specially-designed statement that includes specific information about past and current credit activity which has a direct impact on an individual’s capability to receive loans, financing, and other types of monetary assistance.Credit reports are created by companies, bureaus, and/or consumer-based reporting agencies that specialize in collecting and storing financial-based information about […]
Continue ReadingFebruary 12, 2018
Tax season is in full swing.January 29th marked the first day that electronic tax returns were accepted by the Internal Revenue Service. This year alone, 155 million returns are expected to be filed. As a result of the immensity of this number, tax fraud is anticipated and heavily weighing on the minds of both consumers […]
Continue ReadingJanuary 22, 2018
In 2017 alone, the Federal Reserve increased the interest rate not once, twice, but a total of three times. As a result of this fact, the interest rates associated with credit cards is expected to increase. “Credit is a system whereby a person who can’t pay, gets another person who can’t pay, to guarantee that […]
Continue ReadingJanuary 8, 2018
At the start of the New Year, we here at Somerville National Bank acquired a State Charter. We are now pleased to announce that we are now Somerville Bank. Essentially, this means that we are authorized for the state, by the state and we are capable of engaging in most of the same functions as […]
Continue ReadingDecember 26, 2017
According to information released in November of 2017, the average household in the United States has $6,662 in credit card debt. In addition to this, it has been estimated that the consumer who uses a credit card for holiday shopping spends in excess of $1,000. As a result, many find themselves experiencing a massive amount […]
Continue ReadingDecember 18, 2017
According to the yearly consumer survey by the National Retail Federation, holiday spending in 2017 will increase from an average of $936 to an average of $967. That is a 3% increase from spending averages in 2016. Many individuals find that it is easier to utilize their credit cards during the holidays than to tap […]
Continue ReadingDecember 11, 2017
It’s the holiday season and consumers everywhere are looking for great gifts at low prices! Do you have your eye on a large refrigerator/freezer complete with ice maker and filtered-water dispenser? Perhaps a large-screen 3-D TV is on the family wish list. Unfortunately, this is the time of year to remind people that the […]
Continue ReadingDecember 4, 2017
In recent years, a large number of credit card companies have been engaging in the act of cross-selling add-ons. In most instances, these are identified as “protections” that assist the credit card holder in the event of a financial hardship, such as the development of an illness, experiencing job loss, or a death in the […]
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