January 1, 2025 • 29 mins
Herman Dolce, Jr., known as the "Haitian CEO," is a dynamic entrepreneur with over a decade of experience in the credit industry. As the founder and CEO of Bella Sloan Enterprises, Herman built a successful business that specializes in credit repair and business credit solutions. Since its founding in 2017, the company has helped hundreds of clients—ranging from individuals seeking to restore their credit to small and medium-sized businesses looking to secure capital for growth. Under Herman's leadership, Bella Sloan Enterprises has become a trusted name, known for its effective, customer-focused approach to financial empowerment.
With a strong background in business development and a commitment to helping others achieve financial independence, Herman has worked with over 600 businesses across diverse sectors, including credit repair, trucking, and more. His mission is to provide practical, holistic solutions that help clients regain control of their financial futures. From offering tailored credit repair services to helping businesses build and improve their creditworthiness, Herman's work is driven by his passion for simplifying financial processes and delivering impactful results.
During the show we discuss:
- Inspiration Behind Pursuing Credit Consulting and Repair
- The Importance of Being Transformational Before Transactional
- The Significance of a Strong Foundation for Credit and Financing
- Strategies for Obtaining Credit With and Without a Personal Guarantee
- How Understanding Which Credit Bureau Lenders Use Can Maximize Funding Opportunities
- The Role of Relationships in Securing Maximum Funding
- Understanding Your Internal Banking Score and Its Impact on Funding Approval
- The Simplest and Most Cost-Effective Way to Access Capital
- Key Insights on Credit Optimization for Increased Funding
- Proven Strategies to Improve and Optimize Consumer Credit
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Transcript
Episode Transcript
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(00:02):
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about like three of my
absolute favorite topics.
(00:43):
We're talking about business credit, we're talking about
consumer credit, and we're talking about financing as
well, like the loans, the credit lines, the
good stuff.
So you're gonna leave this interview with like
the blueprint to be able to do all
these things, to be able to build your
business credit better, faster.
And I mean, this is more of an
in-depth look than we've ever talked about
before.
And to be able to get your consumer
credit straight, to open up even more financing,
(01:04):
and then to know like the financing options
that are out there for you now.
And I'm really honored and excited to have
this guest on with us because we go
way back.
Like we've been doing business credit in the
same industry for quite a long time.
And I've just been able to watch him
blossom and grow, and it's just been so
exciting.
I'm super excited to have him here.
So with us today is Herman Dolsing.
Now, Herman Jr. is known as the Haitian
(01:24):
CEO, and he's a dynamic entrepreneur with over
a decade of experience in the credit industry.
Now, as the founder and CEO of Bella
Sloan Enterprises, Herman built a successful business that
specializes in credit repair and business credit solutions.
Now, since its founding in 2017, the company
has helped hundreds of clients ranging from individuals
seeking to restore their credit to small and
(01:47):
medium-sized businesses looking to secure capital for
growth.
Now, under Herman's leadership, Bella Sloan Enterprises has
become a trusted name known for its effective
customer-focused approach to financial empowerment.
Now, with a strong background in business development
and commitment to helping others achieve financial independence,
Herman has worked with over 600 businesses across
(02:07):
diverse sectors, including credit repair, trucking, and many,
many more.
So his mission is to provide practical, holistic
solutions that helps clients regain control of their
financial futures.
So from offering tailored credit repair services to
helping build business credit and improve creditworthiness, Herman's
work is driven by his passion for simplifying
financial processes and delivering impactful results.
(02:29):
Herman, what's up, man?
Thanks for joining me.
Ty, what an amazing, amazing intro.
I'm absolutely honored.
I'm feeling good today.
How about yourself?
I'm doing good.
And by the way, like, I had to
cut stuff out because there were so many
things you've done that like, your accomplishments, we
can be here for 30 minutes just going
through those, but kudos, man.
Congratulations for all your success.
Thank you so much.
It's been an amazing seven-year ride since
(02:50):
I first signed up with all the educational
benefits that Credit Suite had to offer and
put a fire under my butt and you
and your amazing team planted seeds in me.
And these are just the fruits that I'm
enjoying right now.
Seven years going on eight years later.
Well, and I appreciate that shout out.
As you know, at large, it always comes
down to your drive and ambition.
But what I love about what you've done
(03:11):
is we talk about business credit all the
time.
I don't think I've ever talked about it
at the depth.
You talk about it because you're taking your
students and your clients and you're teaching them
the banks to apply for.
You're teaching them funding stacking.
You're teaching them the credit bureaus that each
lender is pulling.
So what made you go down that path
of having that level of insight that you've
(03:33):
been able to gain over the last decade?
Well, one of my mentors taught me we
have to be transformational before we're transactional.
So it's part of my lead generation by
giving as much value and free information as
possible, getting people to get those receipts because
I have a tagline that's called success has
receipts.
And when they're like, wow, I got this
information for free off of Furman's YouTube, his
(03:54):
podcast, his Instagram.
Imagine if I signed up for any type
of services that he has.
So that turned into an amazing business model.
So that business model that works allowed me
to go deeper and deeper in learning so
much about this financial field.
So learning where banks pull from, learning their
data points to ensure that you get as
much funding as possible was the key to
(04:15):
my success and I doubled down on.
So when you have your clients and you're
helping them build business credit, what does that
look like?
Oh my God.
Well, we gotta go to the credit suite
portal.
We gotta go to the proper business name
that's not high risk and teaching them how
to get a proper business address, business phone
number, the business website, all those things to
be structured properly.
(04:36):
Because I tell them first, your business has
to be structured properly first.
That's the first leg.
Second leg is you have to have a
good personal credit score if you're gonna personally
guarantee the business credit.
And the third leg is having a good
personal credit profile because having a 700 credit
score doesn't mean you're gonna get funded, but
having a great personal profile, meaning you've had
credit cards before, you have them age, the
(04:57):
limits are pretty significant.
So that a bank will look at your
profile and be like, listen, his business is
set up properly.
His personal profile is set up great.
Then we can get him 30, 40, 50,
$100,000 on the business side.
Which you're legitimately doing.
Like what I love about what you're doing
is that in a lot of business credit
building, you're starting with vendors and you're moving
your way up to a process.
So talk a little bit more about where
(05:18):
you're different because it's a big deal.
You're focusing, well, I'll let you talk about
it, but you're doing a lot with directly
with banks.
It's helping universal cash credit pretty quickly in
the process.
Right, right, exactly.
So I'm glad you mentioned that because in
addition of telling them how to personally guarantee
and get funding, I'm teaching them the credit
suite blueprint where at the same time that
you're building business credit on the personal guarantee
(05:41):
side, simultaneously, you can go through your tiers
of your U lines, your quills of building
up your no personal guarantee business profile to
get your paydex score up, right?
So eventually you're not personally guaranteeing any debt.
So I show them how to use two
credit profiles and get even more stacking, send
them to the Home Depot, send them to
the Lowe's, things like that.
(06:02):
So when it comes to banks on the
PG side, so you're also helping them go
into banks and get funded like right away
with a guarantee, right?
Correct, correct, yeah.
So how I teach them how to do
that, and I know you kind of talked
about the credit stacking and where they pull
from.
So I teach them this strategy.
So I know that American Express pulls from
Experian.
I know that Navy Federal Credit Union pulls
(06:23):
from TransUnion.
I know that KeyBank pulls from Equifax.
So let's say for instance, not a regular
day, let's say if it's not the most
sexiest day, you go to American Express, they're
giving you 10.
You go to Navy Federal, they're giving you
10.
You go to KeyBank, they're giving you 10.
You just raised $30,000, 0% interest
in one day.
And the reason why you're able to max
out the limits is because once American Express
(06:44):
pulls from Experian and you go to Navy
Federal, Navy Federal's only pull it from TransUnion.
They didn't see the inquiry you just got
on Equifax.
So they're not gonna drop your credit limit.
When you go to KeyBank that pulls from
Equifax, they don't know you just got $20
,000 and have two inquiries on your credit
board.
So they're gonna max you out also.
So understanding that funding strategy, that stacking strategy
is a great way to multiply and increase
(07:05):
the funding you would have got if you
did not know that blueprint.
Which if you're watching this, I want you
to go back and watch this again, because
what Herman said is like, it's massive.
And nobody talks about this, like nobody's doing
this.
You hear about credit card stacking, but what
he's doing is funding stacking, which is like,
you just do not see people doing this.
So Herman, do you help them, your clients
(07:26):
go through and figure out which banks to
get set up with?
And then do you have like actually set
up accounts with those banks and start seasoning
those accounts?
Oh, absolutely.
Now there's two strategies to that.
You can, I like to say all banks
are relationships, right?
So I tell people first, your first business
partner is your job, right?
So whatever, after you pay your bills, the
(07:47):
savings you have, use that money to start
your business, right?
Because then you'll be able to test it
out, make sure it works, there's no loss
in your credit.
Your second business partner should be your banks.
So that's when you're going to American Express,
Wells Fargo and Bank of America, right?
And since they're relationships, open up business checking
accounts, business savings account with them, make a
little deposit in them, because banks have something
(08:08):
called their internal banking score.
So you want to start a relationship with
them so that who do you think the
bank is going to give money to first
or a higher limit to?
Someone who's put 100, 200 bucks in there
for 30 days, 60 days, or someone who
just walked up and like, hey, I'd like
to get a credit card.
So I like to increase the probability of
you getting as much funding as possible by
also adding the layer of starting a relationship
(08:28):
with the bank, getting a couple of products,
business checking, business savings, and then making a
deposit in there.
So when they're going to those banks and
let's say they seasoned a little bit, they've
got a little activity, they're making deposits, then,
and they're going, you're sending them back to
get funding.
What kind of funding are they getting?
Are they getting loans?
Are they getting credit wins?
Are they getting credit cards?
Is it a combination of the three?
(08:48):
Right, so everything has changed in the last
seven years, or I've watched it change.
So right now in 2024, unsecured business credit
cards are the most easiest and cheapest money
to get because you're personally guaranteeing it, you
have a relationship with the bank, you're getting
10 to $25,000, which I suppose with
a good credit profile and good relationship, right?
Now, when we're talking about loans, when we're
(09:10):
talking about lines of credit, that's when the
banks have changed their underwriting guidelines and they're
starting to request taxes.
So they want to see a year or
two of taxes, some profit and loss statements
before they give you a business line of
credit.
And those have interest payments on them.
That's why for new startup businesses, getting business
credit cards and stacking them is probably the
best way to go because these cards are
0% interest, 12 to 18 months.
(09:31):
So, and by the way, if you want
to follow along, you should go to bellasloanllc
.com.
That's bellasloanllc.com.
We'll talk about that throughout the show.
Absolutely.
More detailed information that's on Herman's site.
So that makes sense.
So you're saying, hey, look, you want to
focus on the easiest, fastest money, which is
unsecured credit.
If you're trying to go for credit lines,
which everybody seems to want, although ironically, nobody,
(09:54):
if I ask them the difference between a
credit card and line, nobody can even speak
to it.
Nobody knows.
Yeah, right, exactly.
But everybody wants the most difficult of two,
just pointing that out.
And then, but loans and credit lines till
they have tax returns in some season, they
don't, but you're setting them direct to get
the actual unsecured credit cards and sending them
to multiple banks to do that.
Correct, correct.
Because that's the easiest, fastest and cheapest money
(10:16):
that they can get, especially for startups.
So if I come in, I'm a new
business and I have 720 FICO scores and
a good profile, not just a good score,
but a deep profile, some established credit.
How many banks would you send me to
as your client?
Like roughly, do you send me to three
banks, eight banks?
Like how many banks you have, you would
recommend that I go to to get my
maximum funding?
(10:36):
So before I answer that, I wanted to
do a disclaimer and tell everybody that credit
is a double-edged sword, is an amazing
tool.
And if you wield it properly, it can
be a great offensive defensive weapon for you
and your business.
But you wanna be careful that you don't
get into too much credit card debt.
That's why when we onboard people, we have
these credit consultations with them.
Well, how much money do you need?
Why do you need that much money?
(10:57):
And let's see what we can do.
Because when I know that, then I can
tell them, hey, first round of funding, cause
I do them into rounds to answer your
question.
Let's go to three banks, to the three
credit bureaus.
Let's see what we can raise.
So by average, our clients are raising between
on the first round, 30 to $75,000
in business funding.
Now, if they're happy with that, and be
like, you know what?
This is a great, this is a great
first round.
(11:18):
I'm good with this Herman.
I'll see you in six to 12 months
when the 0% is about to run
out and we can go for round two.
Some people, when I give them the first
round of 30 to 75, they're like, you
know what?
I need more.
I need 100.
I need 150.
So what we do is we get there,
we get rid of the inquiries, right?
I call that credit optimization by making sure
your personal credit profile is optimized by making
(11:38):
sure that your credit usage is low and
your inquiries are low.
Once we get the inquiries off, we go
for a second round of funding at three
different Equifax, TransUnion and Experian banks.
And then we run the same play getting
you another 30 to $75,000.
So now we're up to six banks.
And again, full disclaimer, and Herman has already
said this, like it depends, like on your
FICO and all this, you can't just take
(11:59):
the number he's giving you and give you.
There's a lot of variables.
How many inquiries do you have?
Utilization, your credit, like all that.
What's your limits now?
There's a lot of variables.
So come in, get somebody first round of
funding, 30, $70,000.
Do credit optimization, come back in six months
and you can continue to do this like
every six months because you have all of
these sources to go to.
And that's what you're doing and stacking and
(12:20):
getting more and more money in time.
Exactly, exactly.
And you do that over time and it
could be something really incredible.
Now, are you helping your clients then take
that, let's say 50K in initial funding.
Are you helping them take that and then
know that they can apply for increases to
be able to get even more funding from
that 50 without even applying for the others
that they'll apply for?
(12:41):
Oh, yes.
That's part of the education with the client
to show them how to feed themselves.
So once they start using the credit cards
for true business purposes, whether they're maxing it
out, paying them down, guess what the bank
is gonna think?
They're gonna think business is good.
Wow, he had a $50,000 credit card.
He put 25,000 on it this month,
paid it down to 10,000, put another
50 on it, maxed it out and paid
(13:02):
it down to 5,000.
The banks are gonna think, wow, business is
good.
And in 90 days, I tell people banks
work in 90 day cycles.
In 90 days, you can ask the bank,
hey, this 25, 30, 50 you gave me
is great.
But as you can see, I've been responsible
with the money.
Can I get a credit limit increase?
And they'll gladly increase these limits.
So I definitely recommend every 91 days, if
you're doing good with the bank's money to
(13:24):
ask for a credit limit increase to increase
your capital in your business without having to
go apply for a new credit card.
One of the things I love about you
that I think is one of the many
things that make you so unique is you're
dealing with business funding, you're dealing with business
credit, you're dealing with consumer credit improvement or
credit optimization as well.
Not a lot of people are specialists in
all three of those.
A lot of people offer one or two,
(13:45):
they're not specialists, right?
I can determine specialists.
Like this guy's been doing this for a
long time.
I mean, we met a decade ago.
He's been doing it for a long time.
So on the consumer optimization, the credit optimization,
what does that look like?
What's the experience look like?
If I come in and maybe I'm not
700, maybe I'm 620, I'm 660 and I
can't get some of the credit you're mentioning,
(14:05):
maybe I can't get some, I can't get
all of it.
What are you doing to help me on
the credit optimization side?
Well, usually when somebody comes in at a
620, it's two things.
Either their credit, they have poor credit because
they have negative items such as collections charge
-offs or they have new credit, newer credit
where their credit is young.
So that's why they can't get funding.
(14:25):
Or the third part is that their credit
usage is really high.
So they maybe have two or three great
credit cards but they've maxed them out so
their credit is really low.
So if somebody has a credit score that
is 620 but I can see on their
credit profile that they're maxed out, what I
do is I send them to a couple
of credit unions where they can get personal
loans to pay down the credit card debt.
(14:46):
So that's a strategy that we use because
a personal loan, number one, the interest rate
is cheaper than the maxed out credit card,
which is like 20, 29%, right?
So they'll save some money.
And now a quick break to hear from
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers wanna get the most
money to grow their business at the best
terms.
Whether you're looking for startup capital, low interest
credit lines and loans or business credit, we
(15:08):
can definitely help you.
So give us a call at 877-600
-2487 or schedule your free consultation at creditsuite
.com forward slash consult to see how much
money you can get approved for today.
I send them to credit unions to do
that because they usually have, a lot of
people have relations with their credit unions right
now.
And as long as you have a job
when you're making deposits, they'll give you a
personal loan.
(15:29):
So now the credit card is paid off,
jumps up to 700.
Now we can go get them some more
personal or business funding.
If somebody has negative items on their credit
report, Bella Stone also does credit restoration or
credit repair where we help delete collections, delete
charge-offs to make you look as sexy
as possible.
But then start you off with consumer credit
because you wanna have that built up before
(15:50):
you can go and get some business funding
in the future.
So I like to tell people I'm building
my future client.
Yeah, and again, if you're watching this, I
owned a consumer credit company back in the
day and sold it.
So I can tell you that what he's
saying is really invaluable and it's something that's
worth going back and listening to that again,
because ultimately what he's basically describing is that
if you have issues, you need to add
positive, not just remove negative, which a lot
(16:12):
of people make that mistake.
They think they can just make bad to
good just by removing bad.
You have to have good to have good.
So that's something big.
And then on the same of the consumer
credit site, it's just possible what Herman's describing
because the law requires that the credit issuers
and the bureaus meet certain requirements.
Most of the time they can't, which is
why Herman in the decade I've known him
is like an expert of figuring out what
(16:33):
laws they're breaking and then getting this stuff
removed.
So I won't go more in depth than
that, but on the personal loan side, I'm
interested.
You've got banks.
You're sending people to banks and credit unions,
but then on the other side, you've got
like Lending Club, right?
P2P lending, like this thing is just blown
up from Prosper, these guys.
And it seems like Lending Club, Prosper, stuff
like that is sometimes an easier path to
(16:55):
get personal loans.
Do you still find that it makes more
sense to send them, have them set up
a bank account and then go into that
bank to get the personal loans or the
bank or credit union versus going like a
P2P lender route?
So the P2P lender route is much more
easier, much more friendly.
I definitely recommend both.
So just for expedited purposes, go to the
(17:15):
P2P route so you can get the funding
that you need.
With the game plan, paying down personal credit
card debt, I also combine it with credit
unions and starting the relationships on the consumer
side because the more relationships you have in
the future, that's going to help you because
you can go to that same bank who
has consumer credit because they may have business
(17:38):
credit also.
So actually having multiple relationships with them on
that side is really great.
A great example of that is Navy Federal.
They have great consumer products that everybody's very
familiar with and they're pretty easy to get.
But a lot of people don't know that
Navy Federal also does business credit also.
So if you do well with them on
the personal side, they're definitely going to take
care of you on the business side.
So I use multiple strategies.
(17:58):
And as you know, Ty, there's not one
silver bullet, whether it's fixing credit or getting
consumer funding or getting business funding.
The multiple strategies is what made you and
I build amazing companies.
Yeah, and that's the thing is that people
are lazy.
It's like- Oh God, yeah.
You know, like if people just want the
silver bullet, the easy solution, it doesn't work
that way.
If you truly want to get maximum funding
(18:20):
for your business, what you're describing is an
all, I mean, an all-inclusive holistic strategy
to be able to do this.
You're talking about fixing consumer credit while you're
going and building relationships with bank, while you're
coming out and getting personal loans from multiple
sources.
Oh, and by the way, I forgot, you're
building those relationships with the bank.
So now they make it easier to then
(18:40):
transfer and start getting the business products.
And then you're being able to then apply
and then go do more three months down
the road.
And then you're taking the existing credit and
then you're raising the limits and getting even
more.
You know, so every three to six months
you're just, you're literally just doubling.
It's just compounding the amount of money you're
getting.
What you're describing seems like a strategy where
somebody doesn't even need any other money.
(19:01):
Like what you're doing gets them all the
money they may need potentially through the lifetime
of the business.
Of the business, right.
You're literally becoming your own bank and printing
your own capital combined with a solid business
plan, a great team.
Yeah, you can build something really incredible with
this information when it is yielded properly.
Absolutely.
Yeah, and a lot of people describe being
(19:21):
your own bank as in a whole life
policies, insurance policy, stuff like that.
So don't get confused because what he's saying
is truly legitimately like being your own bank,
where you're setting this thing up, which is
absolutely just brilliant.
So on the business credit side then, are
you helping people down the path of, like
I'm an over the road trucker, I need
fuel cards.
So are you helping them down that path
(19:41):
as well on top of the universal cash
credit side?
Absolutely, because understanding every business and their needs
is crucial to helping that client grow and
helping with client retention for your business.
So I can tell them with Wex and
Fleet and Pilot, oh, you have a trucking
company or you have a transportation company or
you are an Amazon subcontractor or you have
(20:02):
box trucks.
Here, use these Fleet cards for your business
because it's safe for you to give them
to your drivers.
Because I remember one time when I was
in trucking for like two seconds during the
pandemic, I was giving my drivers the American
Express gold card because I got more points
for that.
But every once in a while, I'll see
a stick of gum and a couple of
(20:23):
can of beers on that credit card.
So I was like, listen, everybody's getting Fleet
cards moving forward.
So yes, knowing what the business your client
is in lets you know specifically what type
of funding, what type of product and what
type of cards they should get.
By the way, if I was one of
your drivers, the can of beers would have
been mine just for the record.
Just saying.
Just saying, I'm not as much of a
(20:44):
can of beer guy as you are.
So how do you figure this stuff out?
Like you understand lenders down to a credit
bureau they pull.
So how do you, how do you gain
that level of knowledge?
Can I be honest with you Ty?
Yeah.
Mentorship, everyone is afraid to pay for mentor.
If your mentor doesn't have a mentor, you
(21:05):
need another mentor.
My foundational information came from Credit Suite.
Your platform has a plethora of information, eBooks,
video trainings.
I remember when I get on a call
with Skip and ask him a hundred questions,
right?
So having all that information, studying it, applying
it and executing on it made me a
(21:26):
better business person so that I can turn
around and provide a good product to people.
So when I got this mentorship and I
executed on it, it made me really great.
So like when you were talking about what
credit, what banks pull from, right?
I went to a mentorship and he taught
me that creditboards.com is a great website
that you can go to.
And it tells you what banks, these credit,
(21:46):
what bureaus these credit lenders pull from.
So creditboards.com is a great one.
So I learned that and I was like,
wow, this is great.
So I had to pay for that information,
but it was so good information.
I was like, I can give this away
for free and help out so many people.
So I continue to do that.
And I can't stress how mentorship has been
such an amazing part, making me successful.
I take, I still take mentorship classes right
(22:07):
now.
I don't know everything.
Well, it's interesting.
And it's funny you say that because like,
I saw one of your trainings on the
bureaus that people pull it.
I thought, man, that's interesting.
I never talk about that stuff.
So I did like a video on my
TikTok or something.
I'm like on each one, TransUnion Equifax Experience,
using that as guidance.
And I didn't steal the info.
I actually went and found, I had to
dig deeper than I thought I would to
(22:27):
find the research.
And that was like one of my best
videos that I've ever done.
So I appreciate that because I never even
thought about talking about that stuff until I
saw it from you.
And then I was like, wow, that's a
pretty good idea.
Our audience could benefit from that.
And then sure enough, it was like one
of our biggest, most popular.
I think my most popular video actually came
from that concept.
So it's just cool to see someone like
(22:48):
you learn the basics and then take it
to the depth of level you have.
And I appreciate you mentioning mentorship because so
many people are so cheap that they don't
wanna pay for the guidance and mentorship that
you really should have to build seven, eight
figures and beyond.
Listen, do not be cheap while you are
on your way to trying to get rich.
Don't do that.
I tell people all the time, you're gonna
(23:10):
pay.
You're gonna pay with your time or you're
gonna pay with your money.
Either you're gonna pay with your time by
going on YouTube for endless hours or you're
going to pay a true mentor that has
done it a hundred times and you are
paying for their success and to learn from
their failures.
And it's like an easy pass in regards
to, hey, I wanna get to the front
of the line.
You have to get a mentor.
That'll give you that Disney pass that makes
(23:31):
you skip the line.
So I tell people all the time, don't
be cheap on the way to success.
You are a master at consumer credit, have
been for a decade.
You're a master of business credit and probably
one of, if not the best I've ever
seen with cash credit.
And what I mean by that, if you're
watching is universal on cash credit.
I mean, Visa cards, MasterCard, Amex, like this
is where you could just go, like use
a card anywhere.
(23:52):
Probably one of the best, if not the
best I've ever seen in that area.
What about funding?
Do you deal with loans and credit lines?
Do you help in that area as well?
Absolutely.
Because what happens is a lot of startups
do come to me and I help them
get that easy capital.
But there's businesses that are already established.
They're in the game half a decade, a
decade, 20 years.
And time, believe it or not, they had
no idea what funding was.
(24:13):
They were taking their capital, their cash flow
and investing it right back into the business.
There's nothing wrong with that, but it's a
slow growth.
So when I started talking about getting $1
,500,000, half a million dollar lines of
credit, because I got real estate people that
are coming to me making millions.
And when they have those profit and loss
statements, when they have those taxes, when they
have those 4506Ts, and they're not afraid for
(24:34):
the lenders to pull their taxes themselves, the
sky's the limit in regards to the funding
that they can get.
So when a company is making half, making
$5 million a year, the rule of thumb
is you can get about 10% gross
or net depending on the lender of what
you have made.
So a company that's made $5 million, I
know that we can go to a bank
(24:56):
and we get them loans or lines of
credit for half a million dollars.
And now they can keep their cash in
their business.
And I know they have the cash flow
to service the debt.
So now they're able to 2X, 3X just
with that half a million dollars.
So everybody has to realize credit and funding,
whatever the case may be, is gasoline that
you can put on a business that is
already successful.
(25:17):
But when you start having paperwork, when you're
on that side of funding, sky's the limit.
We're talking six figures, seven figures of funding.
Herman, what is something I should have asked
you here during this interview that you think
is important for people to know that I
haven't asked?
Ooh, ooh, ooh.
I feel like that was a curve ball
right there.
Oh, I didn't mean to throw you a
(25:37):
curve ball.
No, no, no.
Something you should have asked.
I don't think it's more so the business
or personal side.
I think is what is the key to
success?
Because I know you and have a bunch
of successful people on this podcast.
And I think the answer to that is
to be patient, number one.
Do not look at people that are on
this podcast or look at Instagram as a
(25:59):
barometer for where you should be.
Number one, social media, we only post the
highlights.
Very rarely are the lowlights or the difficulties
for us to do this are posted.
Me and Ty are successful because between the
two of us, it's 30 years of success,
but 30 years of a lot of failure
too.
So I like to tell you, Ty, be
(26:20):
patient with your process and be consistent.
And from time to time, I say the
same.
Put your head down for two or three
summers.
Miss everything.
Miss every barbecue, miss every party.
I promise you on the other side of
it, it's absolute success.
And I love that you shared that.
And it actually has 900 something episodes.
I think you gave me a question I'm
gonna start asking at the end of each
(26:41):
podcast, which is if you had to pick
one trait as an entrepreneur that you think
could help an entrepreneur probably most be successful,
what trait do you think that would be?
Oh, resilience.
Exactly what I was saying.
It's exactly what I was saying.
It has to be resilience, persistence, consistency.
It all encompasses it.
Because once you find your niche and you
know what you're doing, you have to be
(27:02):
resilient through it because in the beginning, no
one knows who you are.
Here you're only getting 20 views or 30
views on your video.
But my mentor taught me this.
He was like, I had somebody come up
to me and be like, I only got
75 views on my first video.
And he's like, oh, that's really good.
And then he was like, no, it's not.
You get two, 3000 views.
And he was like, number one, stop comparing
yourself to myself because you're comparing yourself to
30 years.
(27:22):
Number two, I want you to picture 75
people in a room.
And she was like, oh my God.
She was like, right.
For your first video, you had 75 people
in a room watching what you had to
say.
It's only a matter of time before it's
200 people in a room and 300 people
in a room.
Stop looking at the views in comparison to
other platforms, but think about it as people
in a room.
That is a very good successful day if
(27:44):
I get 75 people in a room to
pitch them something.
Yeah, I love that.
Herman, where can everybody go to be able
to learn more and take the next step?
Well, I'm on social media on TikTok, Instagram,
mostly on Instagram.
You can find me at Haitian underscore CEO.
That is H-A-I-T-I-A
-N underscore CEO on TikTok, Twitter, and Instagram.
(28:07):
I'm also on YouTube where I do long
format teaching on free information, Bella Sloan Enterprises.
And lastly, you can check out our website,
bellasloanllc.com.
Thanks for coming out with us today.
Ty, I appreciate you trusting me on your
platform.
It was an amazing interview.
Thank you so much.
Thank you.
So listen, if you're watching this, I mean,
this is a guy that I watched his
(28:27):
stuff and get ideas to be able to
talk about myself.
Matter of fact, I see some of his
stuff.
I'm like, I don't know that stuff.
I should learn that stuff.
And it actually sends me down a path
of learning.
So you're talking about and hearing from somebody
here that I literally, I learned from what
he's doing and then use that knowledge to
be able to help you and to be
able to help our clients as well.
(28:48):
This man is a master at consumer credit.
He's a master at business credit and a
master of financing.
And rarely are you gonna find somebody that's
masterful in all three.
So here's what you should do.
Go directly to his website at bellasloanllc.com.
That's B-E-L-L-A, Sloan, S
-L-O-A-N-L-L-C.com.
(29:08):
At the bottom of his page, just take
a minute and just click his social media
channels and subscribe.
It's less than a minute.
And you're literally following the guy that I
follow and I get tips and I get
advice from.
So in less than a minute, you're at
bellasloanllc.com.
You go down, you like, you subscribe.
While you're there, check it out.
You can learn about business credit.
He's got a phenomenal podcast that you can
(29:29):
actually see his podcast and see some really
high level guests on there as well.
You can see consumer credit.
You can learn more about that.
You can learn more about business credit.
He's got a resources tab with a lot
of information and resources you're able to access
as well amongst many other things.
So go to bellasloanllc.com right now.
Stop, right now, like right now, do it.
And then go to the bottom, less than
(29:50):
a minute to subscribe to get expert tips
regularly.
And then also check it out.
Look at the business credit services.
Look at the consumer credit services.
And also look at the resources.
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about like three of my
absolute favorite topics.
(00:43):
We're talking about business credit, we're talking about
consumer credit, and we're talking about financing as
well, like the loans, the credit lines, the
good stuff.
So you're gonna leave this interview with like
the blueprint to be able to do all
these things, to be able to build your
business credit better, faster.
And I mean, this is more of an
in-depth look than we've ever talked about
before.
And to be able to get your consumer
credit straight, to open up even more financing,
(01:04):
and then to know like the financing options
that are out there for you now.
And I'm really honored and excited to have
this guest on with us because we go
way back.
Like we've been doing business credit in the
same industry for quite a long time.
And I've just been able to watch him
blossom and grow, and it's just been so
exciting.
I'm super excited to have him here.
So with us today is Herman Dolsing.
Now, Herman Jr. is known as the Haitian
(01:24):
CEO, and he's a dynamic entrepreneur with over
a decade of experience in the credit industry.
Now, as the founder and CEO of Bella
Sloan Enterprises, Herman built a successful business that
specializes in credit repair and business credit solutions.
Now, since its founding in 2017, the company
has helped hundreds of clients ranging from individuals
seeking to restore their credit to small and
(01:47):
medium-sized businesses looking to secure capital for
growth.
Now, under Herman's leadership, Bella Sloan Enterprises has
become a trusted name known for its effective
customer-focused approach to financial empowerment.
Now, with a strong background in business development
and commitment to helping others achieve financial independence,
Herman has worked with over 600 businesses across
(02:07):
diverse sectors, including credit repair, trucking, and many,
many more.
So his mission is to provide practical, holistic
solutions that helps clients regain control of their
financial futures.
So from offering tailored credit repair services to
helping build business credit and improve creditworthiness, Herman's
work is driven by his passion for simplifying
financial processes and delivering impactful results.
(02:29):
Herman, what's up, man?
Thanks for joining me.
Ty, what an amazing, amazing intro.
I'm absolutely honored.
I'm feeling good today.
How about yourself?
I'm doing good.
And by the way, like, I had to
cut stuff out because there were so many
things you've done that like, your accomplishments, we
can be here for 30 minutes just going
through those, but kudos, man.
Congratulations for all your success.
Thank you so much.
It's been an amazing seven-year ride since
(02:50):
I first signed up with all the educational
benefits that Credit Suite had to offer and
put a fire under my butt and you
and your amazing team planted seeds in me.
And these are just the fruits that I'm
enjoying right now.
Seven years going on eight years later.
Well, and I appreciate that shout out.
As you know, at large, it always comes
down to your drive and ambition.
But what I love about what you've done
(03:11):
is we talk about business credit all the
time.
I don't think I've ever talked about it
at the depth.
You talk about it because you're taking your
students and your clients and you're teaching them
the banks to apply for.
You're teaching them funding stacking.
You're teaching them the credit bureaus that each
lender is pulling.
So what made you go down that path
of having that level of insight that you've
(03:33):
been able to gain over the last decade?
Well, one of my mentors taught me we
have to be transformational before we're transactional.
So it's part of my lead generation by
giving as much value and free information as
possible, getting people to get those receipts because
I have a tagline that's called success has
receipts.
And when they're like, wow, I got this
information for free off of Furman's YouTube, his
(03:54):
podcast, his Instagram.
Imagine if I signed up for any type
of services that he has.
So that turned into an amazing business model.
So that business model that works allowed me
to go deeper and deeper in learning so
much about this financial field.
So learning where banks pull from, learning their
data points to ensure that you get as
much funding as possible was the key to
(04:15):
my success and I doubled down on.
So when you have your clients and you're
helping them build business credit, what does that
look like?
Oh my God.
Well, we gotta go to the credit suite
portal.
We gotta go to the proper business name
that's not high risk and teaching them how
to get a proper business address, business phone
number, the business website, all those things to
be structured properly.
(04:36):
Because I tell them first, your business has
to be structured properly first.
That's the first leg.
Second leg is you have to have a
good personal credit score if you're gonna personally
guarantee the business credit.
And the third leg is having a good
personal credit profile because having a 700 credit
score doesn't mean you're gonna get funded, but
having a great personal profile, meaning you've had
credit cards before, you have them age, the
(04:57):
limits are pretty significant.
So that a bank will look at your
profile and be like, listen, his business is
set up properly.
His personal profile is set up great.
Then we can get him 30, 40, 50,
$100,000 on the business side.
Which you're legitimately doing.
Like what I love about what you're doing
is that in a lot of business credit
building, you're starting with vendors and you're moving
your way up to a process.
So talk a little bit more about where
(05:18):
you're different because it's a big deal.
You're focusing, well, I'll let you talk about
it, but you're doing a lot with directly
with banks.
It's helping universal cash credit pretty quickly in
the process.
Right, right, exactly.
So I'm glad you mentioned that because in
addition of telling them how to personally guarantee
and get funding, I'm teaching them the credit
suite blueprint where at the same time that
you're building business credit on the personal guarantee
(05:41):
side, simultaneously, you can go through your tiers
of your U lines, your quills of building
up your no personal guarantee business profile to
get your paydex score up, right?
So eventually you're not personally guaranteeing any debt.
So I show them how to use two
credit profiles and get even more stacking, send
them to the Home Depot, send them to
the Lowe's, things like that.
(06:02):
So when it comes to banks on the
PG side, so you're also helping them go
into banks and get funded like right away
with a guarantee, right?
Correct, correct, yeah.
So how I teach them how to do
that, and I know you kind of talked
about the credit stacking and where they pull
from.
So I teach them this strategy.
So I know that American Express pulls from
Experian.
I know that Navy Federal Credit Union pulls
(06:23):
from TransUnion.
I know that KeyBank pulls from Equifax.
So let's say for instance, not a regular
day, let's say if it's not the most
sexiest day, you go to American Express, they're
giving you 10.
You go to Navy Federal, they're giving you
10.
You go to KeyBank, they're giving you 10.
You just raised $30,000, 0% interest
in one day.
And the reason why you're able to max
out the limits is because once American Express
(06:44):
pulls from Experian and you go to Navy
Federal, Navy Federal's only pull it from TransUnion.
They didn't see the inquiry you just got
on Equifax.
So they're not gonna drop your credit limit.
When you go to KeyBank that pulls from
Equifax, they don't know you just got $20
,000 and have two inquiries on your credit
board.
So they're gonna max you out also.
So understanding that funding strategy, that stacking strategy
is a great way to multiply and increase
(07:05):
the funding you would have got if you
did not know that blueprint.
Which if you're watching this, I want you
to go back and watch this again, because
what Herman said is like, it's massive.
And nobody talks about this, like nobody's doing
this.
You hear about credit card stacking, but what
he's doing is funding stacking, which is like,
you just do not see people doing this.
So Herman, do you help them, your clients
(07:26):
go through and figure out which banks to
get set up with?
And then do you have like actually set
up accounts with those banks and start seasoning
those accounts?
Oh, absolutely.
Now there's two strategies to that.
You can, I like to say all banks
are relationships, right?
So I tell people first, your first business
partner is your job, right?
So whatever, after you pay your bills, the
(07:47):
savings you have, use that money to start
your business, right?
Because then you'll be able to test it
out, make sure it works, there's no loss
in your credit.
Your second business partner should be your banks.
So that's when you're going to American Express,
Wells Fargo and Bank of America, right?
And since they're relationships, open up business checking
accounts, business savings account with them, make a
little deposit in them, because banks have something
(08:08):
called their internal banking score.
So you want to start a relationship with
them so that who do you think the
bank is going to give money to first
or a higher limit to?
Someone who's put 100, 200 bucks in there
for 30 days, 60 days, or someone who
just walked up and like, hey, I'd like
to get a credit card.
So I like to increase the probability of
you getting as much funding as possible by
also adding the layer of starting a relationship
(08:28):
with the bank, getting a couple of products,
business checking, business savings, and then making a
deposit in there.
So when they're going to those banks and
let's say they seasoned a little bit, they've
got a little activity, they're making deposits, then,
and they're going, you're sending them back to
get funding.
What kind of funding are they getting?
Are they getting loans?
Are they getting credit wins?
Are they getting credit cards?
Is it a combination of the three?
(08:48):
Right, so everything has changed in the last
seven years, or I've watched it change.
So right now in 2024, unsecured business credit
cards are the most easiest and cheapest money
to get because you're personally guaranteeing it, you
have a relationship with the bank, you're getting
10 to $25,000, which I suppose with
a good credit profile and good relationship, right?
Now, when we're talking about loans, when we're
(09:10):
talking about lines of credit, that's when the
banks have changed their underwriting guidelines and they're
starting to request taxes.
So they want to see a year or
two of taxes, some profit and loss statements
before they give you a business line of
credit.
And those have interest payments on them.
That's why for new startup businesses, getting business
credit cards and stacking them is probably the
best way to go because these cards are
0% interest, 12 to 18 months.
(09:31):
So, and by the way, if you want
to follow along, you should go to bellasloanllc
.com.
That's bellasloanllc.com.
We'll talk about that throughout the show.
Absolutely.
More detailed information that's on Herman's site.
So that makes sense.
So you're saying, hey, look, you want to
focus on the easiest, fastest money, which is
unsecured credit.
If you're trying to go for credit lines,
which everybody seems to want, although ironically, nobody,
(09:54):
if I ask them the difference between a
credit card and line, nobody can even speak
to it.
Nobody knows.
Yeah, right, exactly.
But everybody wants the most difficult of two,
just pointing that out.
And then, but loans and credit lines till
they have tax returns in some season, they
don't, but you're setting them direct to get
the actual unsecured credit cards and sending them
to multiple banks to do that.
Correct, correct.
Because that's the easiest, fastest and cheapest money
(10:16):
that they can get, especially for startups.
So if I come in, I'm a new
business and I have 720 FICO scores and
a good profile, not just a good score,
but a deep profile, some established credit.
How many banks would you send me to
as your client?
Like roughly, do you send me to three
banks, eight banks?
Like how many banks you have, you would
recommend that I go to to get my
maximum funding?
(10:36):
So before I answer that, I wanted to
do a disclaimer and tell everybody that credit
is a double-edged sword, is an amazing
tool.
And if you wield it properly, it can
be a great offensive defensive weapon for you
and your business.
But you wanna be careful that you don't
get into too much credit card debt.
That's why when we onboard people, we have
these credit consultations with them.
Well, how much money do you need?
Why do you need that much money?
(10:57):
And let's see what we can do.
Because when I know that, then I can
tell them, hey, first round of funding, cause
I do them into rounds to answer your
question.
Let's go to three banks, to the three
credit bureaus.
Let's see what we can raise.
So by average, our clients are raising between
on the first round, 30 to $75,000
in business funding.
Now, if they're happy with that, and be
like, you know what?
This is a great, this is a great
first round.
(11:18):
I'm good with this Herman.
I'll see you in six to 12 months
when the 0% is about to run
out and we can go for round two.
Some people, when I give them the first
round of 30 to 75, they're like, you
know what?
I need more.
I need 100.
I need 150.
So what we do is we get there,
we get rid of the inquiries, right?
I call that credit optimization by making sure
your personal credit profile is optimized by making
(11:38):
sure that your credit usage is low and
your inquiries are low.
Once we get the inquiries off, we go
for a second round of funding at three
different Equifax, TransUnion and Experian banks.
And then we run the same play getting
you another 30 to $75,000.
So now we're up to six banks.
And again, full disclaimer, and Herman has already
said this, like it depends, like on your
FICO and all this, you can't just take
(11:59):
the number he's giving you and give you.
There's a lot of variables.
How many inquiries do you have?
Utilization, your credit, like all that.
What's your limits now?
There's a lot of variables.
So come in, get somebody first round of
funding, 30, $70,000.
Do credit optimization, come back in six months
and you can continue to do this like
every six months because you have all of
these sources to go to.
And that's what you're doing and stacking and
(12:20):
getting more and more money in time.
Exactly, exactly.
And you do that over time and it
could be something really incredible.
Now, are you helping your clients then take
that, let's say 50K in initial funding.
Are you helping them take that and then
know that they can apply for increases to
be able to get even more funding from
that 50 without even applying for the others
that they'll apply for?
(12:41):
Oh, yes.
That's part of the education with the client
to show them how to feed themselves.
So once they start using the credit cards
for true business purposes, whether they're maxing it
out, paying them down, guess what the bank
is gonna think?
They're gonna think business is good.
Wow, he had a $50,000 credit card.
He put 25,000 on it this month,
paid it down to 10,000, put another
50 on it, maxed it out and paid
(13:02):
it down to 5,000.
The banks are gonna think, wow, business is
good.
And in 90 days, I tell people banks
work in 90 day cycles.
In 90 days, you can ask the bank,
hey, this 25, 30, 50 you gave me
is great.
But as you can see, I've been responsible
with the money.
Can I get a credit limit increase?
And they'll gladly increase these limits.
So I definitely recommend every 91 days, if
you're doing good with the bank's money to
(13:24):
ask for a credit limit increase to increase
your capital in your business without having to
go apply for a new credit card.
One of the things I love about you
that I think is one of the many
things that make you so unique is you're
dealing with business funding, you're dealing with business
credit, you're dealing with consumer credit improvement or
credit optimization as well.
Not a lot of people are specialists in
all three of those.
A lot of people offer one or two,
(13:45):
they're not specialists, right?
I can determine specialists.
Like this guy's been doing this for a
long time.
I mean, we met a decade ago.
He's been doing it for a long time.
So on the consumer optimization, the credit optimization,
what does that look like?
What's the experience look like?
If I come in and maybe I'm not
700, maybe I'm 620, I'm 660 and I
can't get some of the credit you're mentioning,
(14:05):
maybe I can't get some, I can't get
all of it.
What are you doing to help me on
the credit optimization side?
Well, usually when somebody comes in at a
620, it's two things.
Either their credit, they have poor credit because
they have negative items such as collections charge
-offs or they have new credit, newer credit
where their credit is young.
So that's why they can't get funding.
(14:25):
Or the third part is that their credit
usage is really high.
So they maybe have two or three great
credit cards but they've maxed them out so
their credit is really low.
So if somebody has a credit score that
is 620 but I can see on their
credit profile that they're maxed out, what I
do is I send them to a couple
of credit unions where they can get personal
loans to pay down the credit card debt.
(14:46):
So that's a strategy that we use because
a personal loan, number one, the interest rate
is cheaper than the maxed out credit card,
which is like 20, 29%, right?
So they'll save some money.
And now a quick break to hear from
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers wanna get the most
money to grow their business at the best
terms.
Whether you're looking for startup capital, low interest
credit lines and loans or business credit, we
(15:08):
can definitely help you.
So give us a call at 877-600
-2487 or schedule your free consultation at creditsuite
.com forward slash consult to see how much
money you can get approved for today.
I send them to credit unions to do
that because they usually have, a lot of
people have relations with their credit unions right
now.
And as long as you have a job
when you're making deposits, they'll give you a
personal loan.
(15:29):
So now the credit card is paid off,
jumps up to 700.
Now we can go get them some more
personal or business funding.
If somebody has negative items on their credit
report, Bella Stone also does credit restoration or
credit repair where we help delete collections, delete
charge-offs to make you look as sexy
as possible.
But then start you off with consumer credit
because you wanna have that built up before
(15:50):
you can go and get some business funding
in the future.
So I like to tell people I'm building
my future client.
Yeah, and again, if you're watching this, I
owned a consumer credit company back in the
day and sold it.
So I can tell you that what he's
saying is really invaluable and it's something that's
worth going back and listening to that again,
because ultimately what he's basically describing is that
if you have issues, you need to add
positive, not just remove negative, which a lot
(16:12):
of people make that mistake.
They think they can just make bad to
good just by removing bad.
You have to have good to have good.
So that's something big.
And then on the same of the consumer
credit site, it's just possible what Herman's describing
because the law requires that the credit issuers
and the bureaus meet certain requirements.
Most of the time they can't, which is
why Herman in the decade I've known him
is like an expert of figuring out what
(16:33):
laws they're breaking and then getting this stuff
removed.
So I won't go more in depth than
that, but on the personal loan side, I'm
interested.
You've got banks.
You're sending people to banks and credit unions,
but then on the other side, you've got
like Lending Club, right?
P2P lending, like this thing is just blown
up from Prosper, these guys.
And it seems like Lending Club, Prosper, stuff
like that is sometimes an easier path to
(16:55):
get personal loans.
Do you still find that it makes more
sense to send them, have them set up
a bank account and then go into that
bank to get the personal loans or the
bank or credit union versus going like a
P2P lender route?
So the P2P lender route is much more
easier, much more friendly.
I definitely recommend both.
So just for expedited purposes, go to the
(17:15):
P2P route so you can get the funding
that you need.
With the game plan, paying down personal credit
card debt, I also combine it with credit
unions and starting the relationships on the consumer
side because the more relationships you have in
the future, that's going to help you because
you can go to that same bank who
has consumer credit because they may have business
(17:38):
credit also.
So actually having multiple relationships with them on
that side is really great.
A great example of that is Navy Federal.
They have great consumer products that everybody's very
familiar with and they're pretty easy to get.
But a lot of people don't know that
Navy Federal also does business credit also.
So if you do well with them on
the personal side, they're definitely going to take
care of you on the business side.
So I use multiple strategies.
(17:58):
And as you know, Ty, there's not one
silver bullet, whether it's fixing credit or getting
consumer funding or getting business funding.
The multiple strategies is what made you and
I build amazing companies.
Yeah, and that's the thing is that people
are lazy.
It's like- Oh God, yeah.
You know, like if people just want the
silver bullet, the easy solution, it doesn't work
that way.
If you truly want to get maximum funding
(18:20):
for your business, what you're describing is an
all, I mean, an all-inclusive holistic strategy
to be able to do this.
You're talking about fixing consumer credit while you're
going and building relationships with bank, while you're
coming out and getting personal loans from multiple
sources.
Oh, and by the way, I forgot, you're
building those relationships with the bank.
So now they make it easier to then
(18:40):
transfer and start getting the business products.
And then you're being able to then apply
and then go do more three months down
the road.
And then you're taking the existing credit and
then you're raising the limits and getting even
more.
You know, so every three to six months
you're just, you're literally just doubling.
It's just compounding the amount of money you're
getting.
What you're describing seems like a strategy where
somebody doesn't even need any other money.
(19:01):
Like what you're doing gets them all the
money they may need potentially through the lifetime
of the business.
Of the business, right.
You're literally becoming your own bank and printing
your own capital combined with a solid business
plan, a great team.
Yeah, you can build something really incredible with
this information when it is yielded properly.
Absolutely.
Yeah, and a lot of people describe being
(19:21):
your own bank as in a whole life
policies, insurance policy, stuff like that.
So don't get confused because what he's saying
is truly legitimately like being your own bank,
where you're setting this thing up, which is
absolutely just brilliant.
So on the business credit side then, are
you helping people down the path of, like
I'm an over the road trucker, I need
fuel cards.
So are you helping them down that path
(19:41):
as well on top of the universal cash
credit side?
Absolutely, because understanding every business and their needs
is crucial to helping that client grow and
helping with client retention for your business.
So I can tell them with Wex and
Fleet and Pilot, oh, you have a trucking
company or you have a transportation company or
you are an Amazon subcontractor or you have
(20:02):
box trucks.
Here, use these Fleet cards for your business
because it's safe for you to give them
to your drivers.
Because I remember one time when I was
in trucking for like two seconds during the
pandemic, I was giving my drivers the American
Express gold card because I got more points
for that.
But every once in a while, I'll see
a stick of gum and a couple of
(20:23):
can of beers on that credit card.
So I was like, listen, everybody's getting Fleet
cards moving forward.
So yes, knowing what the business your client
is in lets you know specifically what type
of funding, what type of product and what
type of cards they should get.
By the way, if I was one of
your drivers, the can of beers would have
been mine just for the record.
Just saying.
Just saying, I'm not as much of a
(20:44):
can of beer guy as you are.
So how do you figure this stuff out?
Like you understand lenders down to a credit
bureau they pull.
So how do you, how do you gain
that level of knowledge?
Can I be honest with you Ty?
Yeah.
Mentorship, everyone is afraid to pay for mentor.
If your mentor doesn't have a mentor, you
(21:05):
need another mentor.
My foundational information came from Credit Suite.
Your platform has a plethora of information, eBooks,
video trainings.
I remember when I get on a call
with Skip and ask him a hundred questions,
right?
So having all that information, studying it, applying
it and executing on it made me a
(21:26):
better business person so that I can turn
around and provide a good product to people.
So when I got this mentorship and I
executed on it, it made me really great.
So like when you were talking about what
credit, what banks pull from, right?
I went to a mentorship and he taught
me that creditboards.com is a great website
that you can go to.
And it tells you what banks, these credit,
(21:46):
what bureaus these credit lenders pull from.
So creditboards.com is a great one.
So I learned that and I was like,
wow, this is great.
So I had to pay for that information,
but it was so good information.
I was like, I can give this away
for free and help out so many people.
So I continue to do that.
And I can't stress how mentorship has been
such an amazing part, making me successful.
I take, I still take mentorship classes right
(22:07):
now.
I don't know everything.
Well, it's interesting.
And it's funny you say that because like,
I saw one of your trainings on the
bureaus that people pull it.
I thought, man, that's interesting.
I never talk about that stuff.
So I did like a video on my
TikTok or something.
I'm like on each one, TransUnion Equifax Experience,
using that as guidance.
And I didn't steal the info.
I actually went and found, I had to
dig deeper than I thought I would to
(22:27):
find the research.
And that was like one of my best
videos that I've ever done.
So I appreciate that because I never even
thought about talking about that stuff until I
saw it from you.
And then I was like, wow, that's a
pretty good idea.
Our audience could benefit from that.
And then sure enough, it was like one
of our biggest, most popular.
I think my most popular video actually came
from that concept.
So it's just cool to see someone like
(22:48):
you learn the basics and then take it
to the depth of level you have.
And I appreciate you mentioning mentorship because so
many people are so cheap that they don't
wanna pay for the guidance and mentorship that
you really should have to build seven, eight
figures and beyond.
Listen, do not be cheap while you are
on your way to trying to get rich.
Don't do that.
I tell people all the time, you're gonna
(23:10):
pay.
You're gonna pay with your time or you're
gonna pay with your money.
Either you're gonna pay with your time by
going on YouTube for endless hours or you're
going to pay a true mentor that has
done it a hundred times and you are
paying for their success and to learn from
their failures.
And it's like an easy pass in regards
to, hey, I wanna get to the front
of the line.
You have to get a mentor.
That'll give you that Disney pass that makes
(23:31):
you skip the line.
So I tell people all the time, don't
be cheap on the way to success.
You are a master at consumer credit, have
been for a decade.
You're a master of business credit and probably
one of, if not the best I've ever
seen with cash credit.
And what I mean by that, if you're
watching is universal on cash credit.
I mean, Visa cards, MasterCard, Amex, like this
is where you could just go, like use
a card anywhere.
(23:52):
Probably one of the best, if not the
best I've ever seen in that area.
What about funding?
Do you deal with loans and credit lines?
Do you help in that area as well?
Absolutely.
Because what happens is a lot of startups
do come to me and I help them
get that easy capital.
But there's businesses that are already established.
They're in the game half a decade, a
decade, 20 years.
And time, believe it or not, they had
no idea what funding was.
(24:13):
They were taking their capital, their cash flow
and investing it right back into the business.
There's nothing wrong with that, but it's a
slow growth.
So when I started talking about getting $1
,500,000, half a million dollar lines of
credit, because I got real estate people that
are coming to me making millions.
And when they have those profit and loss
statements, when they have those taxes, when they
have those 4506Ts, and they're not afraid for
(24:34):
the lenders to pull their taxes themselves, the
sky's the limit in regards to the funding
that they can get.
So when a company is making half, making
$5 million a year, the rule of thumb
is you can get about 10% gross
or net depending on the lender of what
you have made.
So a company that's made $5 million, I
know that we can go to a bank
(24:56):
and we get them loans or lines of
credit for half a million dollars.
And now they can keep their cash in
their business.
And I know they have the cash flow
to service the debt.
So now they're able to 2X, 3X just
with that half a million dollars.
So everybody has to realize credit and funding,
whatever the case may be, is gasoline that
you can put on a business that is
already successful.
(25:17):
But when you start having paperwork, when you're
on that side of funding, sky's the limit.
We're talking six figures, seven figures of funding.
Herman, what is something I should have asked
you here during this interview that you think
is important for people to know that I
haven't asked?
Ooh, ooh, ooh.
I feel like that was a curve ball
right there.
Oh, I didn't mean to throw you a
(25:37):
curve ball.
No, no, no.
Something you should have asked.
I don't think it's more so the business
or personal side.
I think is what is the key to
success?
Because I know you and have a bunch
of successful people on this podcast.
And I think the answer to that is
to be patient, number one.
Do not look at people that are on
this podcast or look at Instagram as a
(25:59):
barometer for where you should be.
Number one, social media, we only post the
highlights.
Very rarely are the lowlights or the difficulties
for us to do this are posted.
Me and Ty are successful because between the
two of us, it's 30 years of success,
but 30 years of a lot of failure
too.
So I like to tell you, Ty, be
(26:20):
patient with your process and be consistent.
And from time to time, I say the
same.
Put your head down for two or three
summers.
Miss everything.
Miss every barbecue, miss every party.
I promise you on the other side of
it, it's absolute success.
And I love that you shared that.
And it actually has 900 something episodes.
I think you gave me a question I'm
gonna start asking at the end of each
(26:41):
podcast, which is if you had to pick
one trait as an entrepreneur that you think
could help an entrepreneur probably most be successful,
what trait do you think that would be?
Oh, resilience.
Exactly what I was saying.
It's exactly what I was saying.
It has to be resilience, persistence, consistency.
It all encompasses it.
Because once you find your niche and you
know what you're doing, you have to be
(27:02):
resilient through it because in the beginning, no
one knows who you are.
Here you're only getting 20 views or 30
views on your video.
But my mentor taught me this.
He was like, I had somebody come up
to me and be like, I only got
75 views on my first video.
And he's like, oh, that's really good.
And then he was like, no, it's not.
You get two, 3000 views.
And he was like, number one, stop comparing
yourself to myself because you're comparing yourself to
30 years.
(27:22):
Number two, I want you to picture 75
people in a room.
And she was like, oh my God.
She was like, right.
For your first video, you had 75 people
in a room watching what you had to
say.
It's only a matter of time before it's
200 people in a room and 300 people
in a room.
Stop looking at the views in comparison to
other platforms, but think about it as people
in a room.
That is a very good successful day if
(27:44):
I get 75 people in a room to
pitch them something.
Yeah, I love that.
Herman, where can everybody go to be able
to learn more and take the next step?
Well, I'm on social media on TikTok, Instagram,
mostly on Instagram.
You can find me at Haitian underscore CEO.
That is H-A-I-T-I-A
-N underscore CEO on TikTok, Twitter, and Instagram.
(28:07):
I'm also on YouTube where I do long
format teaching on free information, Bella Sloan Enterprises.
And lastly, you can check out our website,
bellasloanllc.com.
Thanks for coming out with us today.
Ty, I appreciate you trusting me on your
platform.
It was an amazing interview.
Thank you so much.
Thank you.
So listen, if you're watching this, I mean,
this is a guy that I watched his
(28:27):
stuff and get ideas to be able to
talk about myself.
Matter of fact, I see some of his
stuff.
I'm like, I don't know that stuff.
I should learn that stuff.
And it actually sends me down a path
of learning.
So you're talking about and hearing from somebody
here that I literally, I learned from what
he's doing and then use that knowledge to
be able to help you and to be
able to help our clients as well.
(28:48):
This man is a master at consumer credit.
He's a master at business credit and a
master of financing.
And rarely are you gonna find somebody that's
masterful in all three.
So here's what you should do.
Go directly to his website at bellasloanllc.com.
That's B-E-L-L-A, Sloan, S
-L-O-A-N-L-L-C.com.
(29:08):
At the bottom of his page, just take
a minute and just click his social media
channels and subscribe.
It's less than a minute.
And you're literally following the guy that I
follow and I get tips and I get
advice from.
So in less than a minute, you're at
bellasloanllc.com.
You go down, you like, you subscribe.
While you're there, check it out.
You can learn about business credit.
He's got a phenomenal podcast that you can
(29:29):
actually see his podcast and see some really
high level guests on there as well.
You can see consumer credit.
You can learn more about that.
You can learn more about business credit.
He's got a resources tab with a lot
of information and resources you're able to access
as well amongst many other things.
So go to bellasloanllc.com right now.
Stop, right now, like right now, do it.
And then go to the bottom, less than
(29:50):
a minute to subscribe to get expert tips
regularly.
And then also check it out.
Look at the business credit services.
Look at the consumer credit services.
And also look at the resources.
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