Entrepreneurialism has just always been in my blood. My dad was a business owner, my Grandma was a business owner. My great great grandfather, Amos Ellis, was a proprietor and sold blocks of ice. I failed in business six times. But on that seventh business venture actually made many millions of dollars. And I think it’s because of those experiences, those failures and grinding it out and doing what other people are not willing to do. That kept me learning. That kept me improving and kept me kind of figuring out exactly who I needed to be so that I could succeed in business.
When you have growth opportunities and you need to make hires and you need to maybe purchase more inventory, you need to invest in technology or new platforms. And that’s where a thing to meet the demands of that growth. Well, that eats up cash. And so even though you might be making a lot more money, your profits might actually temporarily take a hit, which is really important that you are working and surrounding yourself with smart financial people, smart financial platforms- so that you can create a buffer so that you can invest in smart growth.
So when we started with Credit Suite, you know, one thing that’s just beautiful about the way that this has been designed is you start with baby steps. And so the first things that we did is we got a couple of revolving credit lines. We got some store credit at some at some businesses that were really easy to get those things. And then from there we graduated and then we got some gas cards. And then we ended up getting a very nice line of credit at Amazon. And then eventually we worked our way up to getting a very, very nice SBA loan, which is a no brainer. Thanks to Credit Suite, we were able to really get our business finances in order and not just from an accounting standpoint, but from a “what looks good” to potential lenders and potential creditors. And so because we were able to use the Credit Suite platform and really design that very well, well, we became very attractive to lenders. And this is really important because there are a lot of predatory lenders out there and they’d be happy to give you money as a business. But what ends up happening is if you’re now faced with, you know, 25, 30 percent interest or more, which is very, very common in the business lending world, it’s really hard to pay interest rates at that level when there are so many other options out there.
But the best options are always available to those who have their credit game locked down. And that’s what the Credit Suite platform allows you to do. We’ve been able to make smart investments in staffing, marketing systems, sales systems, product development, all of these things that before Credit Suite or before having access to capital we really couldn’t do. I just don’t have to stress as much because we’ve got money in the bank to take care of the opportunity. I’m not as stressed anymore. You know, I can keep a bank account that has plenty of cushion in there. And that cushion just honestly, it makes me a better dad. It makes me a better husband. I’m not stressing out about the bank account.
Spend some time and get to learn from, you know, some of the amazing minds that are part of Credit Suite. And you’ll learn very quickly that they care about the audience that they serve. Wait till you become a Credit Suite member, because now you’ve got someone, you know, who’s going to you’re going to it’s going to hold your hand and step you through every- you know, all the things you’ve been learning about. You’re now going to have a guide, a mentor who is going to guide you through all those processes to make sure that things are working out in your favor. And I can tell you for us, it is honestly one of the smartest investments we made.
I went to my credit union, I went to my bank. I, you know, looked at all the junk mail and then I’d find out these ridiculous interest rates on lines of credit. And, you know, this financing, alternative business financing was really expensive. Thanks to Credit Suite, I was able to use their platform and get access to capital with lenders that wanted to work with me, bring in the Credit Suite team, allow them to advise you on the best financing vehicles. Help them. Get, you know, let them help you get your your business Ps and Qs in order so that you can make the smartest decisions when it comes to your money.