Mind Your Own Dog Business

A Conversation With A Biz Wealth Strategist & Financial Educator: Charles White

December 01, 2020 Kristen Lee, Charles White Episode 68
Mind Your Own Dog Business
A Conversation With A Biz Wealth Strategist & Financial Educator: Charles White
Show Notes Transcript

Dog Biz School Open Enrollment is happening now - learn more information on our leading dog business coaching services and how Dog Biz School can lead you in 2021.

In this episode of Mind Your Own Dog Business, Kristen sits down with the BRILLANT AS FUCK financial genius, wealth advisor Charles White on finances and financial strategy for dog training business and dog walking businesses. 

This is one of the most critical conversations you could be listening to this year; if finances overwhelm you, freak you out, ESPECIALLY if you treat your dog business as a personal piggy bank. Or avoid finances altogether.  

Charles breaks it down in steps and gives you a new direction for dog training, dog walking, and petsitting finances. And blow your mind (in a good way) on the TRUE POWER you have over your financial health - both business and personal. And yes, even in a pandemic. 

Charles covers:

  • Financial Super Secrets For Dog Biz Owners
  • Why Dog Training, Dog Walking Businesses Needs Credit
  • How To Set up your dog business for Maximum Credit
  • Using Databases & The Financial System To Your Advantage 
  • Creating POWERFUL Banking Relationships As A Dog Biz Owner

Sit down, take notes, and relisten. And talk to Charles. 

Connect With Charles:
Email:
Charles@businessdata123.com

Call/Text: 503-896-1474

Website: http://www.academyforbusinesscredit.com

Links:

Dog Biz School Open Enrollment 

Check out more episodes of Mind Your Own Dog Business

Connect with Kristen & Grassroots:

Join Our FB Group For Dog Biz Owners: https://www.facebook.com/groups/petdogbizowners

Online: www.dogbizschool.com

Instagram: @dogwalkercoach

Facebook: https://www.facebook.com/DogBizSchool

You're listening to the mind, your own dog business podcast. I'm your host, a leading expert in dog business, strategic Kristen Lee guys. Get ready for your journey, your journey to cutting edge marketing and sales, creating a standout kick ass dog business brand. Along with mastering your mindset. That's going to smash. All of this glass ceilings that have been holding you back and catapult your dog was this to the next level. With actionable steps, you can take right away. We're going to empower you. We're going to grow you as you step into your authentic self. Not only as a dog trainer, dog Walker, or what ever slice the pet industry, you find yourself in. But as that bad-ass entrepreneur, my mission is to disrupt the current norm. Cut through the noise, cut through the bullshit and empower the incredible women of the dog business industry to step into the spotlight, reclaim control and transform not only their businesses, but their lives. It's real. It's raw. It's uncensored. And it's what this dog business industry needs. Let's do this guys. Hey, everybody. Welcome to today's episode of the mind, your own dog biz podcast. And today I have a very, very special guest. Mr. Charles White. He had no Charles. He's like, I want to talk already. Um, he is a gentlemen of many amazing talents, especially when it comes to business credit to both creation and financial education. This, uh, Charles has saved my bacon many times. Um, he is somebody that I've. Fully trusts because he can just strike me with one click of a mouse. Um, but he's somebody that grassroots highly trust. He's been managing portfolios for many years. And just guys that are listening to this, it might sound like it might be a boring topic, but I can tell you right now it's one topic that every single one of you guys, especially as entrepreneurs need. To be listening to so Charros officially welcome. I know you're a very busy man. I am in, uh, thank you so much for having me today. I really do appreciate it. Awesome. So Charles, um, you're going to break it down for everybody. Pretty simplistic steps to give, uh, the dog trainers and dog walkers and pet sitters, just basically some finance stuff and just start to get their financial education around it. Because I, you know, when I, me and you first talked God years ago and I was like, Oh my God, I'm in a hot mess experience right now. And you were literally like the calming words of God. Like when I was flipping out about it. Like my quarter million dollars in like student loans and tattoo, like note, Kristen, this is all you have to do before all it's not over. And then you being able to help me with the business finances, business credits. When everything that you did with Maggie on the work on that, like, I'm just so happy that you're here. So yeah. I mean, guys, be prepared to have your mind blown. This is going to be, I try not to do that too often, but I really like people and I really want to help people. And I just like to start off by just giving you some of my background first, let people know how my mind thinks. Um, I have my BS in physics. I was going for two degrees, um, school, a bunch of Morehouse college, as well as Georgia tech. Uh, drunk on the engineering program. Um, I'm only true credit short before I get my degree in mathematics, uh, was hired by IBM. I didn't place me in Seattle, Washington, uh, worked for a division called, um, Rome. Rome was telecommunications equipment left there, uh, work on the Pacific stock exchange at the time of Hopkins Harbuck, uh, left there after a while, then went down to work, started working at a page net, which is out. If you guys remember pages from long time ago, then started working at ATMC and that's where the story starts. Uh, while working at, at and T I came across an ad yet, say get $300,000 in business credit for only $10,000. So I said, wow, I would love to get that. So I'd get my business started. So I got the $10,000 together, um, sent the money in, waited, waited, and waited, call the company, mr. White's coming in, Chuck, all the references, long story short that received in my money. Um, when that happened, um, I went online to research the company. And I came across from the FBI, like issue or something for this company was out in Minneapolis. So I called them, they gave me the number for the FBI agent and long beach California. I went met with her. I gave her all my emails information. Then she basically said, Charles, you'll never see your money again. Now they did the arrest, the guy that's a whole other story. But when this happened to me, it really broke me down because number one, I worked in corporate America. I saw it with a smart guy, so, well, how could this happen to me? How does credit really work then? And so I told my friend about the story of that happened to me. His name is Janice parsley. So every single day for a year, we try to figure out how credit works. Then when I say how we broke it down, um, I use like mathematics physically, not with cause and effect. So. Um, I would call visa, MasterCard, American express called different banks. I will research, um, white papers at colleges and universities. Those are basically studies on, uh, uh, credit, how it works. Um, so research, federal reserve, uh, restrooms out the Bazell basal is the regulatory body over the central banks around the world. Um, I researched, uh, face to face with different banks, um, bank officer and vice president commercial loan officers. I got it. Uh, inside information from these a corporation, um, as well as other corporation about how credit works. And then every after about a year, um, we collected over about a hundred thousand pages of information. Um, after the time we had to make sure that it works. So we got some business owners and said, Hey, we want to do this for you for free. Want to give you some information about credits to see that it works. And so they went out there and they got hundreds of thousand dollars of lines of credit that very short period of time. Well, at that time I was kind of burned out because I was just. I was so frustrated over what had happened to me. Uh, James, when I started this company does over about $40 million a year, just based off of credit. I came back to Portland and I started corporate credit builders and I reached out to small business owners, helping them build their credit and I've had great success, gotten people, millions and millions of dollars in lines of credit. Um, as well as getting other information, I worked with the state of Oregon, uh, worked with the IRS, which put on the Oregon small business fair for over eight years. And so I know how credit works. I can tell you insights and everything you know about credit and I'll try and always keep it high level because I can get down into the weeds about everything, but. It's never as bad as people think it is. The only problem is that most people in this country, I've never been educated about credit. And they think that a credit is an evil thing and credit is not evil. Thing is just a tool to get from one point to another. And like any tool, like a chainsaw just they'll have know how to use it. No, I always, I it's so funny because I remember calling you like six weeks ago and I was at the car dealership and I'm like, they're trying to pull something on me about my credit report. They're like, w you're like, what do you need? We can take it off right now. And everybody's like around me looking, and they're like, you can actually do that. I'm like, yeah, Charles can do anything. I can be quiet, please. No, it's, um, it's really understanding, um, just credit and this for your listeners. I also clean credit reports. I had mentioned that have been claimed credit reports from 2003. And what we do with the credit report is instead of just writing and talking to their customer service, I only deal with the attorneys. So I deal with the attorneys with Experian, Equifax, transgene analysts, and a bunch of other firms. And that's how I deal with this attorneys because they understand a law and that's the only response was law. They don't respond to you after your reasonings or your fault. No, I just deal with law and that's a whole nother issue, but that's how I get things off is just using the law. Yeah. And what I love when I, you know, what, I really enjoy our conversations too. Charles, when we speak about finances and we speak about big sums of money is what, and I want my listeners to really understand this. Like these are like, as Charles approaches it, it's a non-emotional data point. It's like when you look at. Big numbers, finances credit. It's like we have to take an, a non-emotional look at it and like, be really real. That's the only way we're going to make advancements and progress on it. So yeah, no, I ain't make 110% of the standard thing that I see. Um, I'm just gonna be a hundred percent real cause I I'm be going through my mind. Holy stories of people that I've helped is that you never want to take the family's money and put it into a business now taking one a thousand and $2,000 or so if that's all you had, that's one thing. But for someone to sit down, Hey, I'm going to take know 50,000, a hundred thousand dollars over her and her money and put it into a business. It's almost like a cruel thing because you don't know if it's going to work out or not. So here's the thing about with credit, let's say a hundred thousand dollars. I can use it a hundred thousand to leverage up to let's say $300,000. So let's say that you take the 300,000 and I use it and listen to business. Doesn't do well. Or let's say it goes in the toilet. I still have retention of my a hundred thousand dollars. Now I have to do you start negotiating with my creditors and paying the money back. And most of them will negotiate with you and say, Hey, you know, this didn't happen. I can't pay y'all right now, but I can do a thousand a month, you know, and I forget a thousand, I can do 2000 and out, and then she pay you back and then we can negotiate a settlement, you know, because the last thing I want to see what a business is, a man or a wife lose her husband or wife, you know, um, In a business situation or have a family split up or have there be a lot of hard feelings around the family. Um, they, it's a hard thing to take money and lose it. It really is because once that money is gone, guess what is gone. It's not coming back. And now your partner's looking at you like you're booboo the fool because you took a hundred thousand dollars to the family's money and put it into a business. And now a real emergency emergency comes up. You don't have the cash for it. And now what. You're stuck in a lot of people that, especially pandemic came out. Guess what happened to a lot of people. They had no cash. And guess what? They're stuck they're really are stuck because now they can't borrow any money. Because a lot of people, I don't believe in borrowing money. Okay, well, fine. Use your savings. But now the pandemic comes out. Your savings went out now what? You don't have a history, no one trusts you because you don't have a history. So what do you do now? Like a lot of businesses, you got to close down, you can't even pivot to a new business. You have to close down. You had the police go let them go. That's just the reality of it. So I believe in building a strong financial structure that no matter what happens, you can stand on top because keep in mind. Your creditors will always negotiate with you. Believe that they will always negotiate with you. I don't care if you're a country like Argentina. If you're a big company that just went under or close to going under, like JC penny is who's got taken over. They went through bankruptcy, but a lot of people still got money from that. Uh, if you're a single, you know, small business, if you say, look, the business is going well, I want to go shit. My dad's they'll negotiate with you. That's just how life works. Hopefully my talking too much. Am I? No, no, no, no, no. And the only thing I do want to add, and just because I know there's some people that already have like a negative mindset to it, what Charles is saying, and I want to be very clear on this is not going out, having millions of dollars or hundreds of thousand dollars of business credit and then defaulting on it and then saying, Oh, well I can negotiate this. This is not what we're saying. We're saying. Build that strong background, that financial portfolio of business credit, where you have it as a lifeline, if you do need it, you know what I mean? Like exactly. Yeah. Because also too, the second point that I was going to make it, I should've mentioned too. It's also making sure that you have a strong cash flow as well. Yes. So, because I've had a lot of, let me tell you the story. I had a lot of people, so I was doing this. I didn't know a lot of this stuff when I was first doing it at all, that was all brand new to me, but I was having success at it. Well, I had customers come to me and says, well, Charles, you know, I want to go with, you know, 200,000, here's some money. I said, Oh, I'll help you do it. We get it up. And all of a sudden they use all the credit lines and they didn't want to pay the money back. And like you crook, what are you doing? You know, but this is what, but that was their whole motive in the first place. They never had planned on building a real company. I like to help, even now, I don't want to deal with someone who doesn't have a real company. Because you need cashflow in order to pay the money back what I'm saying, it's not the borrow and not paid back. No, you borrow and payback. Also, what I'm saying is that you don't want to use the family's money though, because if you don't have to borrow and use the family money, and often I see this, the money is gone and now the marriage is broken up. Now, you know, the family is falling apart and that's a horrible thing. I really lose money all day long and not lose my family though. That's not going to happen. But if there's a way where I can borrow money, build my strong financial credit, I can use my cashflow in order to pay down my debts. I'll go ahead and do that. As long as I have my nest egg up sitting on I'm good because you can always negotiate from a position of strength with an ESSDAI wasn't necessarily it's gone. It's gone and I'm sorry, it's just don't have anything. Yeah, man. Well, cashflow is definitely King. And of course I know we've had this conversation before. What does that mean? AKA sales people are like who I was going to do that one, right? Yes, yes. Yes, because I've been in sales and I've been in sales for a long time. In fact, over 20 years. Of working with small business owners. So, and this is outside of the corporate credit. This is where it just knocking on doors, cold calling face-to-face cold, calling those kinds of sales. I did that for a long, long time. And in fact, I also used to do door to door sales. I don't know if you knew that that makes you a really good salesperson by the way, and doing door to door sales. You talking about breaking down paradigms and how you feel about yourself that all does at the window. You're not bored. You don't know. I've had dogs run out at me. So being somebody who enjoys me cause you know, definitely I'm in sales. I actually will. If the person's good and they come to my door, I will respectfully listen to the pitch just because I appreciate the courage that took for them to actually hit the doorbell. So I'm usually like, I'm like, yeah, if besides being, you know, somebody who's like doing political or whatever, but like if a sales person comes to my door, I've actually give them the light of the day because I actually enjoy being salted too. So, Oh, well, you know, something. I appreciate that. As a former salesperson, I had old knock on a lot of doors where some people wouldn't open the door for me. Um, I just had some real scary incidents happen to me. Cause you go up these strange doors and you're just knocking. But at the end of the day, you have to make a sale. So either the fear wins out or you just going to go through the action? Not to Trump. My mind is I'm just going to go through the action. I don't care. And then go to my spiel. They like are not just what I call or something. I went to that door and I sold something or I made the attempt to sell something. Absolutely. It's a whole non-emotional attachment to selling. That's what I call it as it has to be. Yeah, that's that's, that's, I'm going to get off topic for like quickly too. That's where I feel like a lot of people really start to trip up, like in their own sales processes, like when they get so, cause it goes back to money again, the whole survival mechanism of money. So it's like, they put all this pressure on themselves to make money because they don't have the cash. So they start to avoid the sales because they want to be, they don't want to be rejected too. So that's a whole other topic that, you know, in every industry though, is not an industry that doesn't have a salesperson. Exactly Facebook started out. I still go out and sell ads. Absolutely. Yeah. Yeah. Facebook's a friggin business. That's how, that's how we bootstrapped. And then he got his venture, you know, his cash and so super quick, um, I'm looking at the notes. So you have something about a two year secret in business, fiscal versus calendar. Can you tell, I want to tell people, I, I, I can honestly say it's a nice way. Five minutes, so many things and building business credit that I didn't know because. We talked about sales, going door to door. Well, I had to do that with some banks really knock on the door and just blatantly ask them some hard questions, because a lot of them didn't understand about, you know, when you see to your corporation and you get credited here, but basically we're asking them for their, after talking about fiscal years. So whenever you see something that says a two year, um, have you been incorporated for at least two years? You're talking about two fiscal years, not calendar years. A lot of people understand that. A fiscal year is any year in which you did business. Here's an example I incorporated, um, this year, uh, let's say in October of this year, 2020, I do business in October, November, December. I close out my calendar year in December. Okay. So that's one year that's one fiscal year. My second year fiscal year starts January 1st, 2021. Therefore, if I applied for something and they said, have you been in business? Two years. I say yes, but I let them know. My fiscal year was in 2020 and my second fiscal year, this year, it's not a calendar year. It's a fiscal year. Does that make sense? Yeah, that makes perfect sense because yeah. Yeah, because I feel like people get intimidated when they see it. Like how many years in business and if it's like, we go on the fiscal it's yeah. That's huge. Well, that's important because that's what banks and other financial institutions understand it to be. Um, if you're talking about government contracts, which is a little bit different, they do often want to see two complete years, but then again, you can talk to the, um, the administrator of that contract to find out for sure, because of, they say two fiscal years, you may be fine. And the reason why I mentioned this is because a lot of people try to get into fraud. When they don't have two calendar years, a lot of contracts, government contracts require two years and I'm like, well, I don't have two years. Therefore let me go buy a show corporation that has at least two years old. And then I'll try to apply with that show corporation, um, which is kind of like a dishonest way of doing things. So just talking to the contractor, is it okay if I'm a startup or is it okay that I use two fiscal years? Yes or no? And they'll give you the answer. Gotcha so much. See, I'm even learning stuff on this one. So I'm like, I always learned something from Charles. I always learned something from Charles and then I go yell. I go yell at my husband to go implement this thing too. I'm like, I do not want to do it. Did you need the information I gave to you earlier about the goal? Yeah, he's still he's. He's like angry pouting penguin. He's like, no. No, you're not touching it. I'm like, okay, okay. No more to say about that then. But then I was like, eh, he's, he's proud of you for having the smaller denominations. He's like, yeah. That strip club money. it's a joke guys. It's a joke. Everybody calmed down. It's a joke, but my husband's old, my eyes guy, just to give you guys a heads up. My husband's old school nurse, North Jersey Italian, when it comes to the money. So if there's money under the mattress, there would be money under the mattress. If I allowed him to do that. Um, so Charles. Can you start to tell the dog trainers and dog walkers and pet sitters on here. Like how can we start setting up their business for maximum credit? Like, what are some of the beginning processes? I'm more than happy to tell you that and then show you how to do it. And, uh, thank you for telling me, I was just asking about that. Um, here's how I usually take most of my clients. I said, the first thing we did is that we have to decide worryingly in court rate. The reason why I incorporate is that if you're a real business, you're doing real things and you want to be taken seriously, no one. And this is kind of a hard thing to say, but if you've been in business for longer than a year, they really don't take sole proprietorships seriously, nor do they really take partnerships seriously because financial institutions and other people figure that if you've been in business for a year, You're smart enough to, they went number one to generate capital, but number two, you should have been smart enough to either hire someone or protect yourself. That's why incorporates release, protect your company, protect your trademarks, protect any type of things, that type of patterns of wave you doing business. Okay. So I would suggest that we incorporate. Uh, you can go through legal zoom.com to help you. If you don't I new yourself, or you can just go secretary of state's office, usually it's SLS dot, let's say your state.gov. Um, and you can pull up there. There's a phone number there. They can walk you right through to how to do it. Most States only issue about a hundred dollars or so maybe one 50 at the most, uh, to incorporate, uh, I would either do. To be taken most seriously a C corporation, um, C corporation is talking about double taxation that you want to see court because you're going to be taken more seriously. Uh, even if you did before, if you do an S Corp or an LLC, however, I want to preface it by saying, please talk to an attorney to make sure that it fits your situation at best. I don't want to be giving out, um, tax advice or any type of legal advice. Uh, but this is something that I do. Uh, so I just want to make sure that we're clear on that sort of always contact your attorney or contact your accountant for more specific information. The next thing you want to do is a proper in an ICS code. I don't know if you know what that means, but it stands for North American identification classification system came up 1970, 71 or two. It was not great. The SIC code, which stands for standard industrialization code. This is very, very, very important. The reason why is that it goes back to historical information about your company. So no matter what you're doing, other people have done the same thing also. And they left a trail record of their mistakes and failures, I guess, with who, with the U S government, because us government collects all this data and they collect it through one of the biggest repositories, which is the IRS. So with the ICS code, the proper one, if you're applying for business credit, you want to make sure that you have the proper in ICS code. You can find this@census.gov again, census.gov, or you can Google it. And this Google, um, directory of an, a ICS codes and you can look it up from there, but that's very, very important. Um, the next thing I mentioned, a C Corp has its corporate LLC, which liability company, uh, the next was your EIN number. This is very important too, because EIN number serves as a social security type number for your corporation. Your corporation is recognized as a separate entity from you. You don't own the corporation, you work for the corporation because with the EIN number, They need to classic by that corporation some way the AI number you'll just spend a hundred dollars score. You can get it for free. Your tax dollars will repaid for it. It's called form assets for@irs.gov. And that's an EIN number. The next thing you want to get, uh, you want to establish, and I've done this many times with me and my clients is that if you're going to get larger lines of credit, at some point you have to be in a commercial area. That's just, you can start out in a residential area, but you're gonna have to grow to a commercial area. Now, why would you say that? Uh, well, on the back end, a lot of the data's been collected. You don't find a lot of million dollars, half a million are companies or a middle, middle of a residential area. You will find them in a commercial area. And because of this creditors and others recognize that if you're a real business, you will be in a commercial area. You could start out in a residential area, but when you can't afford it, Move to the commercial area and you'll find that you'll be getting, or be able to get larger and larger lines of credit for your corporation. Uh, one of the last parts phone number, and this is where a lot of people asked a lot of questions about, I always suggest that the clients start out with you. Can't have your home phone number, start with a cell phone number first, but as quickly as you can get a landline phone and using what is important right now, the history of cell phones. Well, one of the biggest data corporations have the most people know about is called a T and T at and T has been keeping records on people's phones have been around. Um, and with that phone, you have the thing is if you're a major corporation, does microphones operate off of a cell phone? The us JC Penney's or no, everyone has a landline. So for them to be taken seriously, you have to have a landmine. Now what I was just as that. Uh, you can set up one through, let's say century link or 18 T um, when you have the chance, even when you're financially available, uh, set up a landline. And with that landline, it's going to report in daily basis because the age in which we live now, everything is about the database. If you're not in the database, You kind of like don't exist. Okay. So those are the very first points that I'm going to start out with for us. They have the corporation. Did you have any questions? Do you want to ask him about that at all? Kristen, so I think a good one for them. And this was a big learning lesson for me around the commercial versus residential. When you talk about commercial, you're not talking about getting a PO box at ups. You're actually talking about getting a commercial. Uh, the dealing address. Yes. Correct. Right. And you don't want to peel box, can you track appeal boxes now, U S governments are recognized as this and they do have what they call it enhanced PO box, which means that you can get a address for that PO box. Um, which is really good. Like here in Portland, there's something to add to the airport. The address is 76, 40 Northeast airport way. And then you can use a box to replace your unit. However, if you are getting more and more money, more cashflow, even if it's a small place, I would definitely get a commercial address somehow for the business, because you're going to need to be doing real business things. Most businesses that are growing have a commercial address. They're not doing out of a garage or a back of your home. Now you can in some areas to that, but. It's specified in an uncertain information about, we call it a residential slash commercial, um, areas like outside certain cities, however. It's been my experience that it's best to separate your home from your business. Again, you work for your business. Um, you're not your business. A lot of, I know your customers are bigger than they are their business, but they're not, they work with their business. Does that kinda make sense? It makes perfect sense. Yeah. And then the same thing with the phone. He's not talking about guys, something I'm going to reiterate. He's not talking like a VR. VIP. So not Google voice, but an actual con like concrete landline, dedicated phone number. That's exactly right. Um, and it doesn't cost that much money, but you're doing it because of databases and you'll be taking a lot more seriously. We used to now talk with banks and other financial institutions about the company. Also, if you've got to sell the company, um, it's easier to sell because you're saying here's our phone number. It's not a home number. It's not my cell phone number is natural and we've you've had around him. For number of years and they go back and verify it. You know, it's not a VIP line or anything like that. Listen to actual landline. You want that for sure? Yes, exactly. Nice. This is a good starting point. It's a really good starting point. All the things guys, but he just said also, can you let and let your clients know also that all this information, um, we can send this to them as a PDF. So they don't worry about writing it down. They can just, I have it all typed out a form so they can just go over it. Perfect. Yeah. What we'll do guys is in the show notes, Charles, I'll put your direct emailing and people can just email you there and get the PDF download directly from you and also put your phone number in there too. So they can ask you any questions and hop on the phone with you really quick to clarify anything. I won a few and I didn't know this until I'm consulting with somebody today. And they were so surprised because they said, Charles, you get so much free information and you don't charge us. I said, why do you charge you later? But right now, I said, I'm not because. You don't know enough and people get upset and you charge them. And they they're thinking one thing, you're thinking another and they come to a different conclusion. I want to make sure you're happy. I want to make sure that you get fully funded, not halfway funded. Okay. You did, to me, you spent like two hours on the phone with me, and then I came back to you. Then you charged. I'm sorry. Charles worked. Hey man. No, you're, you know, I'm going to say it again, like you saved my bacon a few times over the last three years, Christ. I mean, like, I mean like people just see the outward success, but like at the end of the day, too, like Charles knows like the inner dirty workings of. Well, a lot of money in student loans I had and trying to get those finagled out and then my own personal credit stuff, man heat, we should admit, you know, Krista maybe later on we'll have a, um, maybe a podcast on student loans. So I got some information about that. How about NABI and how about NABI and loans getting discharged? Tell me about that fucking thing, Charles. I'm a little salty around back because I just paid them a hundred thousand fucking dollars. Oh, you can see yourself fortunate. Do you, let me, let me ask you how much do you think that. Students right now are former stimulus. Oh, the student loans right now, aggregate as, you know, select collectively or a proportion. Oh God, trillions 1.7. And guess what is the us government's biggest asset at this time. And they plan on collecting every single dollar then. Um, and that's why I want to, I want, I will talk about it separately because I have some inside information. Um, if somebody wants to settle their student loans or greatly reduced their student loans, we can talk about that too. And how to do that. Yeah. Listen to him on that one, please. That's a whole separate conversation. Yeah. I, I just, I, I saw the whole news and Navient and I'm like, I'm a little salty right now about this one. Little salty on that one. Um, so yeah, let's talk about this databases, those beautiful databases that you are known for knowing all the site out of those. I, you know, something, I learned this the hard way, because I didn't know, see a lot of this information. I didn't pay someone to teach me. I had to learn this myself. That's why I'm kinda like, Ooh, so these people, but databases are what really rules everything. I mean, we live in the Google age right now, Facebook age and Instagram age now, WhatsApp and Tik TOK. Those are all databases. Um, so I'm going to go over those slowly. And I'll tell you why each one's important. The first one is dun and Bradstreet. Dun Bradstreet has been around since the 18 hundreds, and it was one of the world's largest depositories of business information. You have to get a DMV number after you start your corporation. DME is free. You can go to a db.com and you can get a free DNB number. Now, the caveat is, is that they will try to sell you something at every turn. Do not. How do you say, do not say anything curse don't curse at him? Don't say anything mean to them? Just say quietly, just say thank you. But no, thank you. The reason why is that? DMV for years used to be free, man. It was free and they hide those one president. I can't think of his name. He said, Hey, you know, in order to get more money, we'll start charging people. Why are we giving this away for free? So that's what we started doing. And the reason why I know this is because I used to get free and numbers all the time, years ago. And so because of that, they have a hard sell in every person, but you don't have to do that though. You can get your free DNB number. Just ask them and just respectfully declined. Every sales attempt that they try to make towards you, they call your number just decline, but you want to get a DMV number. The second thing you want to get. Is that you want to be in directory assistance. And let me give you a story behind the directory assistance that, um, how I found this out, I declined that it was quantifying for was about 35,000 or so with Wells Fargo, you went in, um, had all the right information, everything that we set up and Wells Fargo declined him. And then he was kinda upset. So he called me up and says, you know, something, I got 25,000 from so-and-so, but Wells Fargo turned me down. You know, why. I said, I don't know. So I went back this research and I came back and I asked him, I said, are you a directory assistance at all? He says, what do you mean? I said, well, if I call four, one, one in New York city and ask for your business in Portland, Oregon, do you come up and directory assistance? Because I had found out that a lot of the banks subscribed to directory systems, because if you're a real company, you register your business in directory system. So other people can find you well, he went ahead and registered and directory assistance. I think it's the address is I think formal one.com or I don't have it in front of me right now, but he went ahead and registered. And then he went back when he applied at Wells Fargo three weeks later and got the 35,000, I was a line of credit and the whole problem was he was not in direct systems. And then I went back and figured out and found out that that's his at and T part of the 18 T system. And I tell him a customer is please be in record assistance, your clients so important that they're in directory systems for any kind of credit. It's really important. And the third thing I had mentioned before with landline for cell phone, we kind of covered that you want to be in a landline system, again, one large database in the country, again, 18 T uh, they track a lot of this, um, for, you know, Verizon and T-Mobile and sprint. Um, there were all part of the old bill, you know, system H and T before they broke up in 1984 and the judge judge, uh, green Greenland agreement. Which was the breakup of the R box to call red, regional bell operating companies. Um, and then they all became cell phone companies through, from Singulair to Pacwest to now Verizon and everything else. Well, the database is those stayed the same. That's what they don't talk about. So you want to get on a daily basis and you want your company to be registered in the databases. The next one, and this is really important. Also is experienced business not experienced for yourself. I find those score Experian business. Now here's, I'm going to give you all the information, but here's what you can do your own research on this. I asked my clients, I said, do you think experience that us company? And most people say, yeah, of course us Charles. I said, Nope. Experience is not a us company experience, a foreign company. Most people know that it's registered in the UK. Most people know how to either now only the registered in the UK, but they worked very closely with their bank of England. Are you familiar with the bank of England, Kristen? Yes, I am. Okay. Well, here's I always ask my clients. Um, there was a saying in high school that I always said that the sun never set on the British empire when Britain was ruling the world from Hong Kong, through China, to India, uh, throughout different parts of Africa, as well as the Cayman islands, Bermuda and everything else, they would leave physically. They would not leave financially. So the ruling bank over a lot of these countries was the bank of England. Or including the Canada. That's why you see the, um, the queen of Canadian money or the bank. Well, experience is very closely tied to, uh, the bank of England. And in fact, they're so closely tied that the bank of England, uh, one of their offices is located on Experian way right here, the Experian headquarters. Well, if you're going to get credit, you want to make sure that your information is in that system, which is the experience business system. It's very easy also to join. You can just, um, go online, um, to experience a of experience business, and you can have someone there, the County put your information in, but you want to definitely get into the database. The next one is. Um, Equifax small business is called small business finance, digital exchange. I found out about this because we're doing some heavy research for a client. And I said, I never heard of this database before. So what does the F B F E come to find out? It's a secret database of information shared by banks only. This is not open to the public. However you can influence what's going to be in that database. And I can go over with that later with you, but basically it's you writing them, tell them your new corporation and that you want your information into the database so they can put it in, but it's not a database it's open to the public, but it is for banks to share information among each other about fraud, things like that, identity theft and click that. It's called again, Equifax business also known as S B F E small business financial exchange. The next one you probably have heard of this one is called nav. And one of the things that I learned is that this whole financial crisis we're going through right now, the whole COVID thing is a lot of people are going for the PPE money, um, which is the government money to help small business owners out. Well, they have a score there that only nav has. And the reason why I know this personally is because they're called I talk with them and I talk with one of the vice presidents there at NAF is called the FICO SBSS score. If I go as we, his score stands for it's piko for Isaac and company, um, small business scoring service. This is very, very important because if you're applying for an SBA loan, this is the only score that they recognized approve you. Or, um, disapprove you for a loan. If you go on to nav and you look up your company and your scores below one 60, even though you may qualify for an SBA loan, they will turn you down flat. You have to have a score at least above and one 60 down. How do I know this? And how can we check in and be sure the SBA has something called standard operating procedure. SOP. If he's checked out the SOP for the SBA. And I don't have the page numbers right now. They go over what score is is needed in order to approve you for an SBA loan. The SOP is usually not for customers is usually for banks only, but you can look it up on license, the government document, and you just go over, um, and look up the FICO SBSS score and have Google help you out. And you'll find out what the score is or map is the only company in the U S that carries a score. And the reason why I know again, because I asked the vice-president so can I get it anywhere else? He said, no, this is the only place to get it. So most people don't understand why that's. So for me, it's I don't like it because you controlling a nation of 300 million people with one school corporation. Think about that, a nation of 300 million with one score from one corporation. And if you don't pass it, then what we turn you down. Yeah. NAB is a controls. Um, a lot of the small businesses, but they don't. What I do is that I get, I go back to my physics background, very brash tax. I go down to what's starting. Okay. And I try to reduce all of the fluff down to what's necessary. Okay. And I found out because I have a whole nother course on how to get an SBA loan, how to do it. I found out a lot of backend information and I found out exactly what you needed. And if you don't have this exact information that will turn you down. That's when they really upset me. Because a lot of people, we wouldn't want to write down. They know nothing about this at all. I mean, they don't nothing about this. And if you want to find out about it, people, I mean, Yeah, you, you have a lot of the background knowledge of how fucked up our, our systems are in this country besides especially finance. Yeah, I don't, I mean, anyway, so let me go on. Okay. Then we have two things. Trade credit versus a financial credit. The world of corporate credit business credit is ruled by two sides. You have business credit and you have corporate credit. Excuse me, a financial credit and trade credit trade credit is credit. You'll get from, let's say you line or get worse in order to just do trade. You know, one gets to another, um, you can use instead of spending cash, he says, okay, we have, um, you know, 15 sinks you can get, we'll give you these things for 30 days to pay us all think. Great. That's fine. Finding the financial credit is where you're going to a bank, like a Wells Fargo, us bank, um, an ally bank. And you're saying, okay, I need to get 25,000 for my business. That's financial credit. And so there's two sides. And the reason why I mentioned this because often. They're talked about as if they're the same and you're not, you need to build both sides of the house. However, the most important side for most people is a financial credit, but they get that mixed up with the tray credit. And I'm trying to break down both and why they're both important now, the next one up. For databases is making sure you're on Google, Bing, Yahoo directories. I shouldn't have to say more, but there's a reason why I say that is because a lot of the banks and the financial institutions subscribe to the Googles and bangs and yahoos of the world. It's very simple to get your information in there, but you make sure your information than their social media accounts you should have. If you never use them, you should have a Facebook, at least a Twitter account and Instagram account. Even have a Tik TOK account or a Snapchat account, you don't have to use it, just have the account, because again, it goes into a database and it shows that you're doing real business, that you're in the databases. Uh, companies are not in business or not doing business are usually are not in these databases because they figure it's not accord. It is important. Um, I shouldn't say that more for just the age at which you live in. Next one is, um, Making sure you have an email address for your company as well, too. And preferably in your name, if not, you start out with a Gmail account, which I did for dealers. Um, just go ahead and use that. But when you have a chance, maybe call GoDaddy, you know, uh, make sure that your website name is at least in your name of your email. So for example, if I had a, a business like, um, I don't know, uh, dock street or something, and that was a dog renovating or something done house renovator. I had to make sure that I haveCharles@dockstreet.com. So just keep that in mind, that goes into a database. And I can tell you what database that goes into at the end of this, so that you can check for yourself. The next one we're going to is make sure that you have your state County and local licenses. Those going to the databases you can register for those. Make sure you have those. Banks check those as well as the financial institution. Right. Yeah. Everybody sent you much so far. No, this is, this is good. This is such good stuff. This is such good stuff. I'm like observed. I always reabsorbed this stuff, so I love it. I absolutely am. I'm like, I'm like, as you're going through the checklist, I'm like, yes, yes, yes. I want to make sure, because I want to help people in often they, a lot of people don't have time to listen to the full podcast. That's why I'm going to make sure the PDF is available so they can go through it. And then call me later. Ask questions. Um, did anything coming up as banking relationships, and this is really important. Um, and this is opinion kind of pivotal on how much money you get or don't get based on your relationships. Like everything in life. The first thing I always suggest to one of my clients is that I say, make sure you have at least three banks that you're with. You can have one primary bank, but your information is there one or two banks, either a national bank or two more smaller banks. The reason why every bank has a different personality. I also know this for sure as a first person is because I worked with different banks on business credit because often they would bring me in to help teach a client about business credit. So let's say that you're trying to close an account with a client for a hundred thousand dollars and they have some things they don't understand the banquet. Ramya says, Charles, can you talk to him about his business credit so that we can go ahead and get into this line of credit? Cause I really don't have time. So I'll go through ask them certain questions. And, um, look up for certain answers, maybe file some paperwork so they can go ahead and close a hundred thousand dollars line of credit. This is important also is because every bank has a different personality. Not every bank wants to work with, uh, the dub, um, trainers or with animal trainers. You have to find out that for sure. Just like if you started a restaurant you had to find out is my bank or the bank going towards like a us bank. Are they for restaurants? Are they for construction companies? Are they for climbers? They may not be easy to find that out and then get with a bank that is going to be for your industry. It may sound kind of strange or different than you think all banks are the same. They're not. So the quicker you can find out if that bank is going to be for you, the better it will be for the long run. And that's one reason why a lot of businesses have problems now because they're with the wrong bank. Uh, I had a customer just recently. They were with how many banks, there were three banks and it was in Seattle. They were with, um, the bullying, uh, was a bullying. It was a bully financial credits institution. Um, it was us bank. It was bank of America and another bank. But anyway, one of the banks didn't like how you did business or cause he was in the financial services industry. So they kind of find a credit and he told me, I said, well, that should be a problem. You're with other banks, aren't you? Because as we suggested that you go with like at least three or four different bags, he goes down. I was like, why didn't you anyway? So lesson learned for him. So you want to be with at least three banks. Also you want to be with everybody. It's also is because most talk about lines of credit with each one of those banks as well. Now in order to get the kind of credit that you want and to get away from personal guarantee, because there's ways to personally guarantee that and this personal way from your corporation to guarantee that, which is two different things you want to use, what they call a corporate resolution. Long story short, a corporate resolution is a permission slip for your corporation to borrow money or enter into any kind of either financial or legal, um, contract with another institution. Uh, you can look these up for free. Uh, just go to Google and put in a corporate resolution for, let's say, checking account on corporate resolution to borrow money and corporate resolution to get a line of credit. Has the information there, uh, your board of directors or the people who own your corporation, or they do a sign off on it. You presented to the bank when you're borrowing money and getting a credit card, what it does for you. It protects you just in case that, uh, The credit card or the line of credit is used for fraud. You can prove to them. It's like, Nope, we have information here. You can't come against me personally for this because our corporation and it's a disagreement with you. So let's talk insurance, let's talk in other ways. That's why you want to use a rental corporate resolutions. It protects you. It protects the other person also, which has the main, again, you can get that for free at Google is Google corporate resolutions for any instrument you're looking at. Next one is that you want to make sure you there's a checking savings account with the bank. Again, it goes into databases for the banks. The first thing that makes is going to ask you, if you're asking for some, to argue with the customer of the bank, you know, or friend of the bank, you want to say, yes, I have, I have a checking account or I have a savings account with them. Um, you want to know that again, the bank is for your industry, which has had previously, you want to develop a personal relationship with that bank and what I do in my corporate credit sheets, I always ask my customers to make sure that you have the name of the manager or the bank branch you're dealing with their address, their phone number and their fax number. Just can you just fax them to get over? And also just in case you need to ask some questions regarding your, your corporation as well too. Uh, often a person doesn't know. I asked him, what bank are you with? I say, well, bank of America. Okay. Who's the manager there. I don't know. Well that doesn't help you out. If you have a problem, you need to have that person's information. The next thing is that, um, if you're going to, and I know I'm going off a lot of information in this podcast, but also if you're going to get larger lines of credit, there are certain things that you have to have in place, uh, for the corporation. And one of those things, that's making sure that. You're using accurate information and, or using projections for the company. Here's an example. Let's say I'm a dog trainer and I'm, I love Charles and information. I'm putting money aside. I want you to learn a large line of credit. If I can pay it back through cashflow. Uh, I go to the bank and the bank asks me as well. So the great year, French looking really good. How much do you plan on making this year? You're like, Oh, I don't know. Well, hopefully through research and other ways of finding out that this past year, upcoming year that you plan to ensure a thousand rejections or based on 200,000, they're going to look at that and they'll give you a lot of credit based on that projection. Usually it's 10% of the projection of everything is okay. You should have 10%. But make sure you know, your, your yearly projection, is that just your past what your projection of company, because usually banks won't deal is kind of, we started growing and you always want to have the reception that you are growing that really staying in this thing. So, you know, if you're growing by 10% per year, you are growing. If you're regressing, it brings a, uh, it brings a pause the bank, because if you regressing, you may not be able to pay your bills. Therefore we not be able to give you money. So you always want to show a projection of. We are growing. And part of that is when they're asking for the projections for the upcoming year, don't be too liberal, but just say, you know, this upcoming year we plan on doing 200,000, maybe $300,000 based on X, Y, and Z information. Um, Am I going too fast, Kristen, or am I going too far? You know, I was just, I just wrote this down to make a note of it. Like, this seems like a lot of information that he's dueling out, but one thing I do want to say, and this is going to sound like such an old school, like NBC after-school especial, the knowledge that he's giving you right now is incredibly empowering and powerful. So just if you guys have to go back relisten to it, if you want the PDF, it just. Email him. And it might seem very overwhelming. And I know finances is not as sexy as a lot of us want it to be to somebody like Charles and to data. Like somebody like that. It's amazing. But what he's giving you guys is incredibly, not even just a wealth of the money, but the wealth of knowledge that you can use. This is very, this is the delineation from those that do this business. And those that retire comfortably when they're successful. Yes. I would agree with that. I agree with that 110% agree with that. So you're not going to be 85 years old and you know, I want to actually share a super quick story. Like you're not going to be 85 years old and worrying how you're going to take care of your husband when he comes out of the nursing home, because you have no money. I just, I had that conversation. Yeah. I had a conversation with a family friend, my mom's family friend, and she's 85 years old. She was horrible with her cash. She was one of those people. I'm horrible with cash 85 years old. And she doesn't know how that she's out of money. And this is the delineation from you guys being, you know, it was like, yeah, I'm an entrepreneur. This is from playing entrepreneur to being financially successful and actually creating a wealth, not just making a million dollars a year. But actually having a balanced portfolio that you can retire on and take care of yourself. I agree with that 110%, 110%. Okay, well, that was my little rant. That's my little rant about this time. Well, it's just it's, you know, maybe cause I am getting older too, but this is just something that we don't think about as much and plan for as entrepreneurs, because I bet you any one of these motherfuckers that are listening to Charles if maybe maybe one out of a hundred, if I get on the phone with them and I'm like, Hey, and I'm talking about your sales process or Emily's talking about your S your money and your cash. What'd you retirement plan in 25 years. Like, are you in like, yeah. Anyway, all right, I'm gonna stop. I'm gonna let you talk through the expert. Um, this probably ties back back into what I was talking about with the credit and databases. But one thing that I want to talk about also is the FICO score, but that's one thing is this there's so many falses and FICO scores, but I'm going to keep it really simple as strange. Any phyco score you see is not the FICA score. The bank uses. Let me tell you how I found this out the hard way. Uh, another can tell you some of my business, one of the businesses that I was a part of, uh, we were going for a loan portfolio with associated bank out of Wisconsin. It was $260 million. We were looking at selling the portfolio because I was able to acquire the portfolio because the bank was unable to sell it. Uh, we approached a bunch of banks with the information. Um, most of the, almost all actually all of the scores on the portfolio or above 700, which I thought was really interesting. So. And selling the portfolio we can charge, um, they call it prime plus one or two points. Prime is usually interest rate that the us government charged treasury department charges, plus 1% on top of that. So let's say prime right now is like 2.6, 5%. Um, we can charge 365% of this portfolio. Well, I asked the, the, uh, the bank officer. I said, I notice all these FICO scores are these real FICO scores or not. He goes, Oh yeah, these are our FICO scores. But basically they're not the customer FICA score. So what do you mean? He said any FICO score you see. The banks takes off 20 to 50 points off the top of that score to get your real score. That's why when you apply for, let's say a credit instrument, you'll see minimum seven 20 by go score and share with, you know, you've seen that they take off 20 points to make sure you're above 700. They call it crime. Or you'll notice like with BMW, if you're an excellent customer, you'll have a FICO score at least seven 60 because they take off 50 points, uh, for defaults and things like that to make sure you're a prime customer in the world of bank. There's only really two scores. That's above 700 and below 700. If you're above 700, you're primed for below 700 you're subprime. And they have to, when they sell the instrument have taken off more and more points or value off that portfolio. So in order to get a close to real score that the bank was C you're going to have to pay for it. They did not give this out for free. I must people get no understand. Don't know that the places you pay for that it's called my bike.com is owned by the Fagel corporation. Uh, you can get your score for Experian, Equifax, and TransUnion. They used to charge separately for the score, but they changed their model to a subscription based model. So now I'll say between 30 to $45. Uh, per month in order to get your scores. When I was just use, I would pay the minimum, which was $30 and then cancel, and you can get all three of your scores. And there are, those are going to be close to some of the scores the bank uses, but again, each institution is different. Each institution will take anywhere between 20 points to 50 points off at any score that you see because the bank uses a different scoring system than the consumer. And that's really, really important to understand. Again, we'll use what's the other one credit karma redefined print of credit karma. It's not even a FICO score. Most people don't know that it's called vantage score. I can get into vantage and white van just came about. So it came about because Franco was making so much money and Michael corporation only employees about, I think, what was it? Um, There's only a 3000 people, but they use like a very important over, I would say it's over 5 billion decisions per year. They use the FICO score. So for each decision, each 5 billion decision, they begin at a certain dollar figure. Okay. So the, the three credit bureaus got really jealous about that. They we're going to come with our own scoring system. The only problem with that is that when you're putting in a large portfolio, we'll say your home mortgage is your car loans, personal loans. They sell those portfolios to other institutions around the world. It's not just going to have the U S so they might sell it to a German teacher's bond or a Japanese, you know, retirement fund. Okay. They score it by looking at the FICA score. Cause the final score is known as a score known around the world that works closely with central banks. Their vantage score is not the advantage is a US-based scoring system. Okay. So in the U S there's this thing, big thing, especially going back to schooling is that we feel that we're judged by score. So they, they took the whole thing and said, okay, if they judge by score what was coming with their own score and we'll make it close to FICA, but the consumer won't know the difference in extra training. They don't know any difference. Because most people don't read the fine print. So it's this to me, it's, um, I'm kind of upset about it, but because a lot of people placed their life in their, in their belief and their hard work and their sweat into these whores, the scores don't mean any offense. Yeah. And Chris and my others, they might tell me, I mean, okay. Yeah, you're fine. Well, yeah, I agree. I agree. People put too much emotional, emotional attachment around the credit score too. And like you said, they don't mean anything. And what's really interesting about the myFICO score is my bank actually pulls on my, from my FICO. And if I go into my bank account right now to check my balances or whatnot, And then I, and I have it next to experian.com. Those scores are like almost a hundred points, different basically. Yeah. They're different. And not only that, but the FICA score is not static. It's dynamic. It changes every effing day. Almost it does because you're paying down that you have more new checking account and do other things. Yeah. It's crazy. But people's live to judge by this. I mean, you have a nation of 300 million people based on these simple scores and that's a whole nother, I'm not going to get into it. That's a whole nother thing there too. That did a lot of research into Franco and why? Yeah. Well, that's also too, remember we were talking about last week. I was like, I got it. Fuck and be in my bonnet about the whole thing. When I went to purchase out my lease and I'm like, people like the power that people feel like they have, like, they have no control over the us financial system. And, you know, just by giving, giving my listeners a taste of this, it's again, it's the power that you are able to get back and you don't have to have that emotional. Emotional liability around it too. I don't know. We're not going to go on a whole, we can talk about that. Another advocate, but I'm just saying like, this is a stuff that is not silly conspiracy. This is the stuff that is built to suppress, you know, our financial systems and our consuming power, different marginalized communities too. That's a whole other story, but keep talking, man, I'm gonna let you go. Okay. One of the things that really got me recently was the, uh, And this is, uh, I'll try to stay off topic, but I'm going to stay on topic, but it's the Carlos that they're saying that depreciate value that they want to say, Oh, do you want, send me two months to pay off a car 72 months? Are you kidding me? That's six years. They've put on a depreciating asset in $400 a month. It's just crazy. I mean, I was going, Oh my goodness. I was talking because I'm thinking about this thing that I worked on. Um, we have a company here in Portland. I can't give out the name of it, but it's one of those stores that it's a furniture store that you've seen in other places around the country, same type of store at the same name st. Thomas store. You see my late night TV on a TV says, Hey, we'll camp you, um, furniture, dining room, and living room set all for no interest for the next four years. Right. Um, and I started looking at that model. I was thinking, how can you not charge people interest for the next four years? And I'm not sure. Well, number one, the furniture is cheap furniture because the furniture is not really a what's pushing this whole thing. It's the interest rates. So I started doing research and interest rates. And that found out that if he missed one payment within that four years, yes. What all the interest rate becomes viewed. Yep. Think about that. So if you have an ad 26%, because they're high interest rate and you you're three years in and you miss one payment, guess what three years worth of interest now becomes? Dude, I found out that these companies are making outrageous sums of money off cheap furniture. And then I found out that the people behind it are actually the bags that another funder, no seriously, because what most people don't do, they don't read the fine print. And I started, this just happened in the fine print. So if you can stay away from cheap furniture, if you don't use your cash, just buy furniture out right in this paperwork, but high interest rates and stuff. This is credit. Huh? It's so predatory too. It's literally, it's just incredibly predatory because the market they're marketing to, Oh, I'm going to stop because I'm just getting really fucking frustrated about this. It's just frustrated. So, cause we had to finish the podcast. We finished Carson and he's, I don't want you to go on a ramp, please go on, but it's just, it's so predatory. It just, well, now I'm going to give you the, thank you for leaving him with the printer because I'm giving you some information that's going to help you and help your customers. It's what I call my super secret. So the super, the super secrets, you can reduce a lot of this down to a very short period of time. And you can put yourself far ahead of everyone else. Here's another one superintendent and I have about nine, eight or nine super secrets. The first secret secret is that your checking account, Irish balance determines your credit right. Most people don't know that they think it's the FICO score. FICO score determines part of it. Again, it's like a gateway, the FICO score, but your credit lines are determined by how much you have in your checking account, tied your corporation. Okay. So. There was a backup. The only thing you can do, if you're looking for a hundred thousand dollars, they're looking at either 45% per month that you can, um, then you can pay down this line of credit. So it's a hundred thousand dollars at 4% is $4,000. They're looking at you having an average daily balance over 90 days of $4,000 in your checking account. If you want larger lines of credit, you have to put more into your checking account. I've found this out, through all my customers, everyone else. This is a real thing. So this is like one of my super secrets of the super secret. Number two is that smaller banks usually give larger lines of credit. Your bank of America, us bank, JP Morgan, chase. They usually want to look at other information. Uh, eventually smaller banks don't are much more liberal with large lines of credit. So that's why I suggest going with two or three, maybe more banks, but just make sure that the banks you're dealing with are smaller banks. Um, and you can talk with your commercial loan officer there. Uh, but you want to stick with a smaller banks for larger lines of credit. That's really important. The next one is cashflow in the positives will accelerate your credit lines. The reason why I say that if you know, you have a large bank balance in your checking account, if you can prove cash flow and you can prove your deposits, that you're depositing more and more money. The banks will look at that. Like again, you're growing, we want to be part of it. We can give you a larger line of credit because we can see that you can pay off or settlement or at least service this line of credit. So, so keep that in mind. You can write that out. Also smart, uh, cashflow and deposits and will accelerate your credit lines. Uh, here's a biggie right here and I found this out. This is like from one of my multi-million dollar customers. Um, quick story with him. He had a comfy, but Zuri small at the time we got over to a million plus in lines of credit, but one of the accelerators for him was that, uh, He was going forward. Well, long story short, what he did is that he sold books at penitentiaries around the world. I mean, around the U S and he needed a copier. And so the Cochran was $30,000. He says, you know, I don't have $30,000 spent on a copier. So I told him, I says, look, just talk to the, uh, the sales manager that you want to buy it on your corporation. You don't want to personally guarantee it. You just want your corporation guarantee it and you'll pay the monthly payment on it. He says, okay, I'll do that. He did. And they did. So what happened is that on his credit report, it showed a $30,000 item on his report that was being paid on time. Well, when other creditors saw that. They said, Hey, if one person gave him 3000, we can give him 30,000. And that's exactly what happened. And because of that, he just grew and grew and grew his last credit to over a million dollars in line of credit. Because with that, I mean, he went to the Lexus dealership. He wanted a car on his corporation and the Toyota corporation, which owns Alexis. They gave him $150,000. That's a lot of credit, worst corporation for cars. And he says, well, I don't need 150,000. I just want to lease a car. And so it's all. Yeah, you have great credit. We can see it in your corporation. Um, we can do a monthly has out of pocket was very minimal and he was very happy to have like a 2000, I think it was 2018, 2019. Um, Todd, the limelight centers corporation that he didn't have a person guaranteed. So he was pretty happy about that. The next one is, um, If you're going to grow your credit. I tell my clients, let's say that you're going for half a million dollars in lines of credit. You don't want to use more than initially 10% of that credit until you get there. So let's say for example, your ability to half a million and you're billing, billing, building. You don't want to use Harleen that credit at all? Because a credit line is a lie of future promise. It's not like alone. Alone means that you take in banks money today. A line of credit is a line of future promise that you're going to going to get money, but it's not a loan today. And because of that, if you don't use any more than 10%, you'll always be showing that large corporations are trusting you with large credit. And if they're trusting you. We can trust you too. And so that's what leads to a lot of credit matching. They'll give you 25,000. So I'll give you 20,000. They'll give you another 25,000 for the corporation, but you keep asking for that to get to your, let's say, half a million dollars. Thank you. Started using it. Um, also too, that banks work on 90 day cycles. So they work on 90 cycles. You can start increasing your credit lines every 90 days. As long as you're paying on time, you can increase your credit lines every 90 days. And use less than 10% of your credit line. So it'd be at 25,000. That means you're not using more than $2,500. You're paying on time, but every 90 days you're calling the bank manager and say, Hey, you know, Sally, Tom, Charles, whatever. I wanna increase my credit line and they'll look at it and they'll talk to the underwriting. And more than likely they will increase that, that credit line just depends on how much you're asking for. So usually I tell my customers, this class asks for another, let's say 10, between 10 to 20%, every 90 days. So for twenty-five thousand. Uh, let's say 20%, that would be another 5,000. That would be 30,000 at the end of the 90 days. Why not? Why that's important because if you have multiple accounts, you're actually increasing your credit lines by greater and greater amounts. Um, here's a really big one that I would put my permanent polar. You want to get a report? Um, there's many database sentences and I can talk about them all day long, but this is one of my top databases you want to get for your company. And for yourself personally, it's called the Alexis nexus full disclosure, Alexis net just full disclosure has. Information about you, about your company, about your, your neighbors next to you for the, uh, since the age of 18 years old. So if you're an adult, let's say you're 26 years old. Since the time you've been 18, there has been a report kept on you. So as to being re keeping a lot of these credit reports from the 1970s or so, um, with that report, we'll have a lot of disturbing information that you didn't think other people were collecting on you. This information issue is yours. Uh, because of the Bush administration called the fact that for an accurate transaction, um, part of that bill was the releasing of information of secret databases. Alexis, next will disclosures one secret databases. You can get that for free. Just Google it. Oman, Alexis nexus, full disclosure, last word, copy of your driver's license and utility bill. And they'll send you out a big packet. Um, they'll come to your door. Um, it shocks most people in, this is why I want to do it because it scares most people because that that file could be anywhere from a quarter inch thick to half an inch thick or more on. I got like four of them. I got like four separate mailings where I was like, I was ever going to stop. Well, let me ask you honestly, what'd you think when you first saw the reports? Um, truthfully, it was disturbing at first, but like everything else, if you look at it from an anonymous channel standpoint, It's like, okay, cool. This is what my life has been financially and everything else. You know what I mean? So it was like, it was just when I wasn't prepared at first and then I put it down and I kind of hit it. Probably. I was like, Oh, Mike, like literally, like it had stuff on me and my. Like my first friggin checking account, when I was 19 years old, I bounced a check. I'm like, how do they know that? And just every, like, even like, like personal relationships I was around, it was, I was like, Whoa, wow. I'd say it's another secret about that information. Yes. All the information you saw in there. All that can change. Yep. And because in the fine print that says art information may or may not may or may not be correct. It's up to you, the consumer and abroad, the correct information has a right to go in there and say, this is not correct. They'll take it off. Yep. That's when you called Charles guys. So, and the reason I say that too, because if you're applying, let's say that you've committed fraud and you're applying for a bank line of credit. There's nothing on your credit report that says anything about fraud. So, how do the banks know? Well, this is one of the database they use during financial fraud. It's on there. Um, one of the very last things I'm gonna go over is, uh, check systems. Um, I had many, many clients by enough people that said, well, I can't even open a checking account and check systems. I bounced a check and years ago. Well, you didn't go in and pay off the balance as long as there is not criminal history and you can be removed from check system. So you can open up a checking account. The only reason why he's painting alone in places exists is because so many people want to check systems because they go to a Wells Fargo. They'll apply for a checking account. This is, we can't turn you down. You have child support issues. You didn't pay something off. You're like, Oh, I don't know about it. So you take, now you're taking the employer's checking it to go to a check, a check cashing place. Well, guess what? Here's what I found out. Guess what's behind a lot of the checks system, a lot of the, uh, the payday loan places, banks, the banks. Yeah, it's in the fine print. So, um, I started taking, getting people out of check systems. If you can get any, if you have a check system problem with letting me know, I need y'all checks. All right. So let me go over some of my top three and summation. I give a lot of information, uh, today and, uh, I probably would go on for the other thing. Actually, the class I was teaching before, it was like four hours long. Then that can be four hours today. Day. That could be history. A lot of people don't know about the history, but why? Because with wild, tell you where we're at now. Number one is that you want to know your credit score. Before you get any credit. You wonder a business credit, you wonder your credit score. And I guess I mentioned that before my bicycle.com. Number two, you want to get a checking account at a major bank? Okay. Um, your credit wise, can we determined by how much money you have your primary account attached to your business, your, to your corporation? So again, $5,000. If it's an average 90 day on for $5,000, you can qualify for anywhere between 50,000, $200,000. Most banks won't do that initially, unless you've already had a long relationship with them, but let's start. Yeah. Anywhere between 10,000 to 25,000 on a visa card, or they'll give it to you as sustainable line of credit. Right? Last you want to be in the databases. I was spent. It doesn't take a long time, but I was spend a good few days making sure that your, your information with all the databases that we talked about, because that's going to be the determining factor. For the banks and their financial future. That's giving you lines of credit. Uh, if you want to, again, contact me, feel free to call me. Um, I answered all questions. Um, my phone number is area code (503) 896-1474. Again, (503) 896-1474. And my email address is Charles at business data. One, two, three.com. Again, Charles at business data, one, two, three.com. Uh, feel free to contact me anytime except with phone calls, of course, but send me emails anytime and I'll get right back to you. Yeah. And everybody, I, I, I'm not, I'm gonna really, I really really recommend if this is something you want to take seriously and take a non-emotional look at everything that's going on. Charles is the man to connect with. Like I said, he. He's somebody. I ultimately trust with all this type of information. He's the one that again, I'm going to say it again. He saved my ass many times with financial stuff. It didn't save my ass. He gave me the knowledge to actually save my own ass and helped me get through some scary times, my own personal, my own personal finances. Cause you know, I'm a human too. And I got part, I got. Trip tripped up into the, you know, student loan system, myself. So, I mean, this is information, as I know, it was a little bit long, but go back, listen to this in the show notes, I'm going to have links, PDFs, just reach out to Charles. He doesn't bite. I swear to God, he's, he's a very nice dude and somebody, I don't even kind kind. What, what would you say to a child? This is why we recommend all my clients do. Because I don't know how to talk about things and they kind of believe in, they don't kind of believe it. Uh, there's a movie that's free that you can watch like 20 minutes long, 25 minutes long. It was put out by frontline, PBS public broadcasting services online for free. The title of the movie is called the secret history of the credit card, the secret history of the credit card. That will open your eyes to so much of what I'm talking about, because it goes back to the 1970s when Citibank approached the governor of South Dakota about opening and using their in-state fraud, uh, around usury laws. See, I went back and looked at why we're in this situation right now, because for your grandparents, it was not like this that's the honest truth. They can go to a store and pay with a visa card MasterCard. And there was, there was a reason why. They weren't charging anywhere between what's a 15 to 25 and 30% on a car. Are you kidding me? And taking seven years to repay it, are you kidding me? But there's another player behind this and this is really big money. And this is really driving the American consumer. What you say is that in driver for the whole world economy into more and more and more debt? Hmm. Secret history of the credit card. It's three online at frontline, pbs.org. PBS stands for public broadcasting service. Your tax dollars are already paid for it. So you should see the movie. Hmm. I'm going to check that out tonight. I'm definitely gonna check that out one because after you see it, you'll be like, Oh, that's what, why do you think that when you send your bill out and it goes to different States? Yeah, yeah, yeah. Where it goes to either most of the bills I pay like my personal credit stuff. Like my personal credit cards that I worked very hard either go to Delaware or they go to Utah. That's right. Because the state laws that allow for certain usury within those States, Yeah, good stuff, Charles. Thank you. I think this was, this is one of those edges, man. This is, this is a stuff they do not teach you anywhere else. And that's why I'm just so honored that you took the time today, because I know again, you're a very busy man. You've got all these amazing, huge clients. So I really appreciate it. And guys, this is, I know it doesn't seem like it's, it's not a sexy subject or you're not going to make a million dollars in sales or marketing and everything like that. Being tattooed and cursing and getting people that love you is your business. But this is a fundamental element of your business. Like, like this is something that can not be hard. This is, I dare to say cashflow, and this are the most important parts of a sustainable business that you're going to be able to actually work on for the rest of your life. Without killing yourself. So I'm, I'm just honored that you are here, Charles. Thank you for sharing your knowledge. This was just incredible. I just, I can't wait. I don't care how long this was and I want you to come back and we can more rants about the systems and Oh yeah. I was going to go on, I was going to go on colonizer rant when you were talking about the word helping, but I was like, Nope, I'm gonna shut up. That's a whole other time. Yeah, this is good stuff, Charles. I, I really appreciate it, you know, on behalf of. The grassroots org and my drone dog business. Charles, thank you so much matching question. Do a lot of your clients, they suffer from student loans. Um, actually, no, they were smart. All good. Good. Yeah. I mean, I, if you, if you know my history, you know, my history, but I, I didn't get into student loan debt until I got my master's degree and that, and my master's degree was 40% paid for, but my issue was I went to school. I went to school out of state. I had to spend two semesters up in Boston. And unfortunately at that time, my company did not, I had to take an unpaid leave of absence. My job was still guaranteed, but at that time I didn't have enough. Like you don't have, you didn't have enough time to take, you know, to be paid for it. So I had to take personal loans out. Um, unfortunately, and pay to live in Boston, which was extremely expensive. And then also to, uh, we were growing Frank's business at that time as well. So, uh, I was maxed out and I tapped into it and I made some bad decisions, but, you know, I didn't think there was a light at the end of the tunnel back in 2016 when I started melting down around it, but I'm out of it and it feels it's one of the best things ever is to feel good. So it's, but. I was in the generation, the, you know, the late, I'm an elder millennial that put a lot of her financial eggs into the basket. And at that time, when you're, when you're a fucking go into student loan, and again, I was, I'm a smart cookie, like I am, and it just, I got over my head and, you know, I accepted it. It's not who it defines me anymore. And, you know, $250,000 is gone. So it took a lot of. Thank you. It was one of the best things I've ever did, paying off all that stuff. And you know, you laugh at it because my brother is a lawyer and he's like, I don't understand how you got your masters and you paid more than my law degree. And I'm like, and like people ask me all the time, like how how'd you get into quarter million dollars worth of debt for your master's? I'm like, Hey, I went to one of the most private, exclusive colleges up in Boston. I'm not gonna even even name the names. Cause I don't like to talk about it. And B I over leveraged myself. I took out way too much money to live on. Um, when I was, you know, you know, it took up way too much money, so it's all good. I mean, this is like you said, it doesn't define me anymore. So unfortunately they have paid all my student loans off years ago because I got into sales. Right. I forgotten out of college and I put all my money towards that. My brothers did the same thing basically, but I do have other family members that are in one of my family members. She's at two 75 that's CIOs. Oh, she's an attorney. Uh, another cousin of mine. Uh, she goes one 85. Um, and she was a medical school. Yeah. I mean, I didn't get my medical or PhD. I just got masters, but it, well, that's what, every, every, I don't want to say I took out $250,000, but after everything's all said and done, it comes out to about two 48 something. So with interest and everything like that and all that compounded shit. So, but yeah, it's good. It's part of me. And like I said, if anybody's listened to this and thinking about to get their master's degree, you probably aren't first and foremost, make sure your company pays for it a hundred percent. Yes. Yeah. So anyway, well, Charles, thank you so much again, it was an honor, you know, I'm looking forward to speaking to you more about this and bringing you on. I want to get you into our grassroots students group too, at some point, because I think this is some good information they need cause they are almost perfectly. Yeah. Cool. All right, Charles, thank you so much. I appreciate it. Have a great night and thank you again on behalf of everybody. Thank you. Bye. Hey there. Thank you for listening to another bad-ass episode of mind, Euro dog business. If you haven't already subscribed, what are you waiting for? Oh my God. Go and subscribe now. So you don't miss out on any of our content pack, dog business jam sessions, plus special offers that I'm going to only be sharing with my amazing Doug business entrepreneurial podcast listeners. Now, if you've enjoyed this episode, Be sure to leave a five star kick ass review. So more amazing dog business owners, just like yourself, confined us and starts to transform and disrupt their businesses and their lives unapologetically. And if you feel so inclined, feel free to tag me on Instagram with a screenshot of this episode and holler at your girl at dog-walker coach. You can find me dog-walker coach and I'll pop up and I'll give you a special shout out. All right guys, til next time. Bye.