Pitfalls, Pains, Passions & Pleasures of Entrepreneurship in LIFE!
Stagione 1
di Tawalla Simmons
No longer to continue to have business as usual; its' time to decide who you want to do business with and who you want to listen to. Pick your tribe, pick your funding sources before you need them so you can put yourself in position. It's okay to have a job and a business will help you grounded, connected, and focused!
Former Mortgage Banker, Former Property Manager, Former Compliance Monitor & Current Certified Home Educator of The Pathway To Homeownership. Inspiring You To Greatness CDC shares education from our President Certified Life Coach Tawalla Simmons. Inspiring You To Greatness CDC is one of the resources utilized by banks when they need to begin the bootstrap serving in the census tracts and communities we currently serve by providing bank approved CRA eligible online classes with certificates of completion, demographics, zip codes, income information, and data collection tools to ensure CRA examinations are Satisfactory. Inspiring You To Greatness CDC Educational Academy supports CRA Community Reinvestment Acts of Service in Communities by offering Social Services, Financial Literacy, Credit Education, College, Career, Mortgage Readiness Certificate of Completion Classes through an online platform helping non-profits, banking partners, businesses, and clients connect for the greater good. To sign up for the Pathway to Homeownership visit www.iytgcdc.org
Entrepreneurs are parents too. What do you do when your kids need you but so does your business? This is a decision that many are faced with. Teenagers are fighting to find their voices and we need to be a part of it. This business can frustrate us and cause us to lash out at the wrong people. Make sure you keep your family in tact while you build your business. Don't put the business before the family. Don't make them follow your dream. Let them live their life and they will love you for it. How are you parenting?
Grant money is not free money its money with strings attached. How do you get a grant? First, you need a nonprofit. Then you should build a website to show what problems you need to solve with their mission, vision, previous work, and what plans the organization plans to do. Register with the secretary of state with three board members. Once this is approved; then you can apply for the IRS determination letter or 501(c)3. Churches are not for the community they are religious organizations for the members not for everyone. This must be discussed to understand how to apply for a grant for community service versus member services.
Tawalla Simmons volunteered with the Office of the Comptroller of Currency to understand and learn with the bankers what the regulators are requiring so she could better serve the communities. More information on how a for profit business can get a grant for community reinvestment services (CRA) community reinvestment act of 1977 is a program that helps people in the community based on the census tracts they live in. Low income, low-to-moderate income. mid-to-moderate income, and other specific data needed to reach CRA exam goals by banks. Anyone can get a grant based on what they are doing in the community. Sponsorships count as grants too. Any color and race can get a grant. BBVA Bank is now PNC Bank. Prosperity Bank, Woodforest National Bank etc.
www.annualcreditreport.com or www.transunion.com/investigate www.experian.com/reportaccess www.csc.com/investigage These are all the three bureaus to determine what is inaccurate on the credit reports. Once you get in to each of these accounts, review if the information is correct. Disputes: Asking the credit bureau to make the creditor validate the debt which they have 30 days to respond; if the creditor does not respond, the credit bureaus will simply remove it. If the creditor sells the debt, a collection agency will repost the item to the credit bureau. Charge offs are usually sold for pennies on the dollar, but the credit is getting a bad debt expense. This is why it is important you know your rights. Visit: www.ftc.gov Do not take anyone's word for it. www.consumerfinance.gov to file a complaint on a creditor or collection agency harassing you! There is help available.
640 is the score to aim for when building your own credit score. This episode discusses how to build your own credit score with a secured credit card, certificate of deposit, and revolving credit with 20-30% down by setting up tradeline accounts with local furniture stores. This is practical information you can use to build your credit in the next 30-90 days. These are suggestions to help you so you don't have to pay out of pocket. Consider getting your three credit reports from the credit bureaus. www.annualcreditreport.com.
Certified Life Coach, Certified Entrepreneurial Facilitator Tawalla Simmons. Here a lesson on building business credit, learning how to make sales and listen to your customers, and thinking about starting a nonprofit benefits. Topic: Building Business Credit using your EIN Employer Identification Number. If you don't have one apply for it at: Link will take you directly to the page to establish an EIN if you do not have one. https://sa.www4.irs.gov/modiein/indiv... If you do have one, use your EIN to build credit with these companies: 1. Quill (quill.com) reports weekly Just choose invoice for Quill 2. Uline (reports weekly) Just choose invoice for ULine and it will start a Net30, 3. Nav.com the business membership reports to DNB. Make sure you order something so that you can request Net 30 which means you pay the bill in less than 30 days to establish a pay history. Once you do this for 3 months, you will get a Paydex score with Dunn and Bradstreet which is your business credit score. Now, you can start applying for credit cards with: Navy Federal Credit Union (open an account first) 2. Bank of America and Chase Bank (there are more) 3. CRA Loans! Message me to talk about these!
Certified Grant Writer Tawalla Simmons explains how to apply for a grant as a nonprofit organization and what the 56 banks she works with are looking for as well as the 31 CRA Eligible Programs available and community lending programs available for bank lending services. This episode also discusses what banks look for when lending money to clients. Credit scores are discussed. Mortgage programs are discussed.
Certified Entrepreneurial Facilitator & Certified Life Coach Tawalla Simmons offers entrepreneurs empowerment, encouragement, and engaging conversations to change our mindset and change our lives to make us better than where we are now. Don't let anyone stop you from doing what you want to do in 2022! Do you! Be you! Find you! Keep you! You can do this!