Speaker 1: Eighty percent of businesses fail within the first five years.
One of the main reasons because of lack of capital
and lack of funding. So I'm here a bet it's
on enterprises. We like to teach and help small, medium,
large businesses, startups get the funding that they need so
that they can thrive and survive.
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Speaker 3: More than ever, and welcome you are listening to and
watching the Financial Survival Network. I'm your host, Kerry Lutz. Well,
if you're looking to fund your business, if you're looking
to start a business and get it funded, then you're
going to want to hear from my next guest, Herman
Dulce Junior. Hermann, It's great to have you on the show.
So in this day and age, all we hear about
is funding. You know, campaign promises all that, but in
the end, funding your business is really up to you,
isn't it.
Speaker 1: Absolutely absolutely, Cary, thank you so much for having me
on the show. First of all, I really appreciate it.
But yeah, I'm eighty percent of businesses fail within the
curse five years. One of the main reasons because a
lack of capital and lack of funding. So here, I
bet it's on enterprises. We like to teach and help small, medium,
large businesses, startups get the funding that they need so
that they can thrive and survive. All right, So how'd
you wind up getting into this kind of niche field here?
So short story made long. My wife and I have
been married eleven wonderful years. My wife Janelle, we actually
took a baby moon, and that's a trip that you
take before your first kid comes, right, so had Italy
and I had to take time off of work to
do that, to take a full two weeks. When I
got back, I was telling my brother how disappointed I
was because I wasn't able to spend time with my
wife afterwards, and he told me, unless you own your
own you'll never be free, So start start something. And
I was like, what am I going to start? And
he is like that credit you do. Stop doing it
for free. He's like, they're going to pay somebody, they
might as well pay you. So I got a couple
of my friends and my family. I fixed their credit
for free, posted that on Idia, got my first clients,
went on YouTube University to hold my craft just a
little bit more, and fell into the business funding space.
I learned a lot about it, brought that back to
the clients who already got their credit fits. And then
when you start teaching people how to get twenty thirty thousand,
forty fifty thousand in their business name and it doesn't
report to the personal well, then it does kind of
crazy from there, all right.
Speaker 3: So when you say funding is this debt? Equity has
this work.
Speaker 1: So this is debt. So just like you can get
credit cards in your personal name, because you know in
America nobody really teaches you financial literacy that it can
be bully debt can be get double ed shortz. Debt
was created. Credit was created to leverage to buy assets
or things that make you money. That's its purpose. That's
how Instagram started to Facebook, Google. These big companies, you
leverage debt to do that. So we teach you how
to get the debt in the business name, and then
they can invest in their real estate deals, their startup company,
teacher company, tech company, whatever it is. We got a
lot of people from different walks that come to us
and they have a great idea, but they just don't
have the capital to do it. And we love helping
people get that startup capital. Instead of using that ten
grand to spend on Black Friday with consumeris on, we
teach them how to use that same money and invest it.
Speaker 3: So that's kind of the Robert Kiyosaki Good debt, bad debt,
I said, it is something that helps you buy something
you really can't afford. Good debt is debt that helps
you buy assets that generate cash flow. And exactly right
on the nose, all right, So tell us some of
your success stories.
Speaker 1: Love to hear oh wow. So we've been doing it
for eight years and our company, Bellosone Enterprises has proudly
we have probably funded over one hundred million dollars to
our clients. So we've done really well over the past
ten years. And through our financial literacy company, Bellowstone Academy,
because people are like, oh, can you teach me what
you do? We have helped over one hundred people with
their full time jobs started the businesses and we have
created seven millionaires in the past ten years, so the
resume is really good by people who have taken this information,
this education, and have executed on it and the rest
is up to them. They've been doing really well.
Speaker 3: That's a great record there to interest rates, so your
client's paying.
Speaker 1: For the death. So the benefit of what I teach
is the business credit cards that they're getting, whether it's Chased,
American Express or smaller credit unions that are in your
area of Philadelphia, Federal Credit Union. These interests on these
credit cards, we like to teach get cheap money right,
So these are zero percent interest for up to a year,
so it's a great startup appital that is minimal risk,
minimal interest on them.
Speaker 3: Now.
Speaker 1: Of course, when a zero percent runs out, it jumps
up to eighteen ninety twenty percent depending on your credit score.
But by that time two options. The first option is
your business is thriving and you should have paid that
money back for the twelve months. And the second option
we teach them how to get even more business credit
cards so that they can transfer to a balanced transfer
to another zero percent interest credit cards. So you're buying
yourself a little bit more time.
Speaker 3: Okay, well buy that. And so business credit cards are
they different than getting consumer credit cards?
Speaker 1: They're much different. They operate the same same site, same
zero percent interest, but you get the same rewards, same
cash back. But the main reason why I pushed this
and I teach this is for two main reasons. Number one,
the credit limits are a lot higher on the business side,
So like I have a Best Buy personal and the
Best Buy a business credit card. My best Buy personal
credit card is about eight thousand. My business credit card
it's about forty thousand. Because lenders understand that businesses need
more capital, so the limits are a lot higher to
start with on the business side. And the second most
important part is that the debt does not show up
on your personal credit repork. That's the real beauty of it.
So you know, I did a real estate deal with
a line of credit that I had, and it was
on the business side. We maxed it out the fifty
thousand dollars to put a down payment and purchase a
property right got hard money lending to do the rest
of it. But that fifty thousand didn't show up on
my credit work. So my eight hundred credit work credit
score was intact and I was able to still do
what I needed to do without it personally affecting my credit.
Speaker 3: But we definitely like to hear stories like yours. I mean,
what's the downside of business credit?
Speaker 1: Then? Do you pay any higher rates.
Speaker 3: When you actually have to start paying or you look
to refinance At that point you've gotten enough enough credit there,
I guess that you've been able to get on your foot,
like you said, and start to having a business that.
Speaker 1: The cash he makes some money. Yeah, that actually makes money,
so absolutely well. I've been doing this for over ten years,
so it's not just getting the credit, is having a
business plan, a marketing plan, and the team around you
to help you turn that debt into cash flow. So
whatever debt we get, we turn it around pretty quickly.
But I like to stress this, and I think you're
alluding to it being responsible with the debt that you get,
because just how consumer debt could eat you alive, business
credit could eat you alive too, because if you don't pay,
the debt charges off, goes into collection. They then put
it on your personal credit profile at that point. So
anything you want to be responsible with the money, have
a plan with it, and execute on it efficiently.
Speaker 3: So there's a reason that debt is a four letter word. Right,
very good, carry, absolutely and absolutely because you know the
problem with debt as opposed to equity is that's got
to be paid back. And you know, if you've got
a decent credits scor, you can do it. But how
do you switch all your consumer debt to business debt?
Is there a way to do that? You could actually
do that. A lot of my mentees have gotten pretty
savvy with it. So say, for instance, there are a
couple of thousand in debt on the personal side. If
you're eligible, and the debt on.
Speaker 1: The personal side, it's not too crazy, you will get
funded on the business side. So what they do is,
just like any credit card with zero percent interest, they
balance transfer the debt from the personal to the business side.
So now their credit uniices decreases even more significantly, their
credit scores go up, and now you've actually helped yourself.
But as the debt is a lot cheaper, you're not
paying that twenty percent that was on the personal side.
It's on a zero percent interest credit card. Interesting.
Speaker 3: Interesting, All right, Well, I know you people out there
are going to want to talk to herman. Herman, how
do we find you?
Speaker 1: How do we connect with you on the web. But
we would love to be a service to anybody that's
looking for financial literacy at blocent On Academy, or they
need to get their credit together, or they need funding
for their businesses. They could reach out to me at
info at bella Sloan Enterprises dot com. That is bella
b E l l A Sloan s l o A
N Enterprises E N t E R p R I
s E s infoelos on enterprise dot com. Or you
can follow me on all social media TikTok, Instagram and
Twitter at Hatian Underscore CEO that is h A I
T I a N Underscore Ceo, where we teach these
things every single morning apples at six am, information that
people could use for free to go at execute and
start themselves on a better lice. All right, well, herman,
it's been a pleasure. We really do appreciate your coming
on here because this is, like you said, financial literacy
or financial illiteracy is by far the most distruptive kind
of illiteracy that we have, right and I bet so
anything you can do to help people really understand, to
help you understand better is really important. So and that's
and you'll find a link to herman site in the
show notes to this interview on Financial Survival Network dot com.
And while you're there, please sign up for your free newsletter.
And if you got a question for Herman or myself
that we can help you with, please send me an
email to kl at Carrie Lets dot com.
Speaker 3: Hermit Sure, we'll have you on again. Thanks for stopping by.
We'll talk to you soon.
Speaker 2: Absolutely, Thank you so much, Carrie, thanks for listening to
Carrie Lets. This Financial survival Network your solution to today's
trying times. For the latest, go to Financial Survivalnetwork dot com.
Financial Survival Network now more than ever,