In a segment on understanding a line of credit and where they are available, Biz Kid$ recently filmed at Actors Federal Credit Union and Montauk Credit Union in New York, N.Y. The segment was filmed for an episode from Season five of Biz Kid$, which is the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship.
The Biz Kid$ segment features Susie Levitt and Katie Shea, who are young entrepreneurs and owners of City Slips, their company which sells folding “ballet slipper” style shoes that fold up and fit in a small pack that then expands out to become a tote that holds the heels. As they’ve been expanding their business, Levitt and Shea are now looking to better control their cash flow with the help of a business line of credit.
In the episode, Levitt and Shea visit Actors Federal Credit Union and Montauk Credit Union to compare what each offers with a line of credit to better educate themselves and viewers. They compare interest rates, repayment terms, and if minimum balances were required. Aside from learning that a line of credit is just one of the many services a credit union has to offer, viewers also learn that not only does a line of credit help with cash flow, but it also helps a business establish good credit which can help with future loans.
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