Good News For Business Credit Cardholders

For those of you who use business credit cards to finance your companies when your cash flow is low, there may be some good news ahead. Tamara E. Holmes, a writer for Black Enterprise Magazine, discusses the Credit Cardholders’ Bill of Rights Act that was recently passed by the House of Representatives. Here are some snippets:

The Credit Cardholders’ Bill of Rights Act, passed in September by the House of Representatives, would restrict certain practices by credit card issuers. Among them, it would prohibit interest rate hikes on existing balances under certain conditions, restrict card issuers from applying credit card payments to debts with the lowest interest rates first, and require banks to mail bills 25 days before the due date.

“Credit cards are now the largest source of financing for small business owners,” says Kyle W. Kempf, senior director of government affairs for the National Small Business Association (NSBA), a Washington, D.C.-based advocate for small businesses. “With business lending drying up, small business owners are going to increasingly turn to their credit cards. It’s important that this vital capital avenue be regulated with some sensibility.”

"The bill must still go before the Senate, but with a new Congress convening in January, it is unlikely to be passed before then unless it’s added to the proposed second stimulus bill," Kempf says. "If that doesn’t happen, Congress will have to start all over again next year."

Under the legislation, card issuers would not be able to raise interest rates unless a promotional rate expires, an index that the rate is based on changes, or if a minimum payment on an existing balance is more than 30 days late. Card issuers would also have to provide written notice of a rate increase at least 45 days before the change goes into effect. "Business owners who depend upon credit would be better able to control their finances without the fear of a sudden payment increase looming," Kempf says. “Having $25,000 [with an interest rate of] 10% go to $25,000 at 30% is significant. It makes it difficult to have a sound business plan.”

The bill’s passage could also help offset another recent practice by the credit card industry that has hurt small businesses. With the credit market tightening, some cardholders have begun reducing the credit limits of customers who they perceive to be at risk of default. “If your credit limit is $10,000 on a small business account and they cut your credit limit in half, what do you do?” says Bill Hardekopf, founder of LowCards.com, a Birmingham, Alabama-based company that tracks credit card rates and practices. “You might need that extra $5,000 that they cut to order inventory or pay your bills while you wait for your cash flow to come in. It can have a devastating effect.”

Kempf is confident that the legislation will pass, either this year or after being re-introduced next year, particularly in light of the current state of the economy. “Small businesses are the only part of the economy that is still actually creating jobs unlike everyone else who is shedding them,” he says. The House passed the bill 312-112.

For the full article, visit:
www.blackenterprise.com/entrepreneurs/entrepreneurs-news/2008/11/10/credit-cardholders-bill-may-lighten-load-for-businesses/

Jay-Z's Rocawear Earns Huge Profit Despite Tough Economy

Though the economy is bad, its still very possible for Black-owned companies to be profitable. The hip-hop industry, for example, continues to flourish.

Bloggers at LiveSteez.com report:

In the midst of an economic turmoil, fashion lovers are still making their way into the stores to purchase some fly gear.

Hip-Hop apparel brand Rocawear has earned over $18.3 million dollars for the third quarter of 2008. The clothing line helped its parent company Iconix Brand Group post a better-than-expected quarterly profit, despite a sluggish economy and a tough U.S. retailing market.

Iconix bought Rocawear from Jay-Z in 2007 for $204 million dollars. According to Iconix CEO Neil Cole, Jay-Z’s direct involvement with Rocawear helped boost the company’s earnings, as did growing sales from the company’s London Fog brand of clothing.

Iconix also owns brands like Candie's, Joe Boxer, Starter and OP, and Rocawear. Rocawear also recently debuted its first fragrance, 9IX Rocawear, as reported by AllHipHop.com.

Enter To Win The "What Works For Business" Contest

The "What Works for Business" Contest is all about shifting business focus from what’s wrong with the economy to what businesses can actually do to survive and thrive in 2009.

Today’s challenging business climate calls for innovative problem solving. Have you solved a tough business challenge? All you have to do is tell your story to win.

How does the contest work?
Simply submit a short description of a challenge your business has faced and how the issue was solved. It's that simple.

An expert panel of judges will narrow down the field to 50 finalists. They will evaluate submissions based on:

(1) degree of business challenge;
(2) creativity of the solution; and
(3) practicality/broad applicability of solution to pick the top five finalists in each contest category.

Winners across 10 categories will be determined by popular vote in December 2008.

Who can enter?
If your business is located in the U.S. or Canada, you are eligible to win. Enter by December 3 for a chance to help your bottom line and help others struggling to find business solutions that work!

What are the prizes?
One business will win the grand prize of $10,000 and nine other category winners will receive $2,000 each. All winning businesses will be featured in a national, year-long publicity campaign related to the contest on Business.com and partner sites.

For more details, visit:
http://offers.business.com/content/whatworks?WWContest=105

When Turned Down For A Business Loan, Turn To A Business Grant

If you've applied for a business loan in the last six months, its a strong possibility that you were denied - even if you have good credit. This is because the current economic times have forced banks to be super cautious towards all loan applicants, even if you appear to be responsible.

This is even worse news for minorities who have always found it difficult to obtain business and personal loans from financial institutions. In this regard, many have turned to business grants as a solution. In 2008 alone, $360 billion dollars in grant money was awarded and more than 25% of that was given to individuals who wanted to start or expand a business.

Though many grant programs have been eliminated or reduced by corporations and government agencies, there are still plenty of opportunities available.

For instance, business grants continue to be awarded from the Small Business Administration, the Department of Commerce, the U.S. Agency for International Development, the U.S. Business and Cooperative Programs, and many more. Even companies such as Miller Brewing Company, Ford Motors, and others are offering business grants through various competitions and contests.

The National Institute of Business Grants (www.Business-Grants.com) is encouraging entrepreneurs and small business owners to not give up in their efforts to seek financial support, but just to redirect their search towards business grants.

Helpful Resources Include:

www.Grants.gov - a central storehouse for information on over 1,000 grant programs that provides access to billions in annual awards.

www.Business-Grants.com - a useful reference to learn about frequently asked questions pertaining to business grants.

www.Business.gov/guides/finance/financing/ - a directory of local and national business financing programs.

Obama's Small Business Rescue Plan

I'm completely neutral to politics, and certainly don't want to turn this into a political blog. However, I thought it was very necessary to report on the proposed small business rescue plan that may affect you if Barack Obama is elected into the white house.

The Washington Post reports:

Barack Obama has proposed a plan of tax cuts and loans for small businesses hurt by the current credit crisis, a temporary program he said is needed to help Main Street and complement what has already been done for Wall Street.

He said the $5 billion Small Business Rescue Plan would be similar to one implemented after the terrorist attacks of Sept. 11, 2001, and would be run through the Small Business Administration.

He told a courthouse crowd that the program would be a way of "extending our hand to the shops and restaurants, the start-ups and small firms that create jobs and make our economy grow. Main Street needs relief and you need it now."

He said the plan would make it easier for private lenders to make small business loans by expanding the SBA's loan guarantee program and eliminating fees for borrowers and lenders.

Obama has previously called for eliminating capital gains taxes on investments in small businesses and start-ups and today proposed an additional temporary business tax incentive through next year to encourage new investments.

For the full article, visit:
http://voices.washingtonpost.com/the-trail/2008/10/10/obama_proposes_small_business.html?hpid=topnews

How The Wall Street Collapse Affects Black Businesses

Here are some main points from a recent article written by Cliff Hocke of Black Enterprise Magazine on how Black businesses are feeling the crunch of the Wall Street collapse:

With a $700 Wall Street bailout deal rejected in the House, one of the largest bank failures in the seizure of Washington Mutual, and an economic fate that is uncertain, African American entrepreneurs who were already feeling the squeeze are facing an even more stringent credit system.

"There is only a narrow vein of opportunity for blacks to obtain credit in even the most vigorous economic environment. This financial crisis worsens the plight of African American entrepreneurs as they seek to get credit," says Illinois Congressman Bobby L. Rush. Chairman of the House Energy and Commerce Committee's Subcommittee on Commerce, Trade, and Consumer Protection, Rush believes a bailout of Wall Street banks is required to stop further blockage of black businesses' access to capital.

A wrecked financial services industry could conceivably be rebuilt in a way to benefit black businesses. "It might be the opportunity for us to really recalibrate our American economy to include not only minorities, but also more women-owned businesses, which get little attention, little reward and very little resources," says Congressman Rush. "That might be the silver lining in this cloud. But we have to have a president who is committed to expanding the minority business community and who understands that access to capital is the main culprit in the denial of minority entrepreneurs the opportunity to be successful."

So what survival strategies can black-owned businesses pursue now? "For small or minority business owners, everything must center on preserving and building working capital, i.e., cash and liquidity," Boston says. "Business owners should generate reports on their cash position several times a week and forecast it realistically into the future. It doesn't matter how much receivables you have or how much revenue you are currently generating. The only thing that matters is whether or not you can pay your current bills. In the current environment, it is unlikely that you will be extended credit unless you have a very stellar record. So the wise strategy is to build and preserve cash to weather the hard times ahead."

For the full article, visit:
www.blackenterprise.com/cms/exclusivesopen.aspx/id/5064

$250,000 Business Plan Contest Open to All

The Central Valley Business Times (in Fresno, California) has announced a $250,000 business plan contest accepting nationwide entries. Finalists will compete in October. Entrants have to have a convincing business plan and be at least 18 years old. That’s it as far as entry requirements.

“Anyone who has an idea for an innovative new business, and a business plan to match–or who has already started and is growing a business with a promising business plan–is welcome to enter,” says the sponsor, the Lyles Center for Innovation and Entrepreneurship.

The top 10 finalists will travel to Fresno, California for a two-day competition Oct. 2 - 3, where they will present their business plans to a panel of judges. On Oct. 4, the winner–and recipient of $100,000 in cash and $150,000 worth of in-kind services–is to be announced during halftime at the Fresno State Bulldog football game.

Entries will be accepted beginning June 1st, and again - everyone from any state can apply. For more details, visit:
http://www.lylescenter.com/100k_business_plan.php

Is Your Company Green?

No, I'm not asking if your company is environmentally safe or if your company uses organic products. Nor am I asking if your company recycles plastic and cardboard. I'm asking whether or not your company is money green. Do you actually make money? Is your cash flow flowing?

Believe it or not, I meet minority business owners all the time who have lost sight of this very goal. They start off with the idea of generating revenue, and then they end up just casually floating around.

I see them at conferences and such, and they are just there for the association. Others believe they are making money, but they really aren't.

Does this describe you? If so, you need to find a way to get back on board the train of success and profitability. Thousands of African American entrepreneurs are generating billions of dollars in business revenue every single year. Unless you are running a non-profit organization, you should be generating a steady cash flow.

Here are some tips on how to keep your company green:

1) Stay focused. If it doesn't make money for your company, then minimize your time with it. Too often, entrepreneurs waste time doing things that do not contribute to their bottom lines.

2) Stop making excuses. Some businesses can rightfully blame the economy as the reason why they're not making money. More than likely though, you can't. The reason why you're not making money now is the same reason why you weren't making money when the economy was booming. Whatever that reason is, that's what you need to address.

3) Learn to adapt. If it is so that your business has been highly affected by the current status of the economy, find out how people have shifted their spending habits. You may be selling something that people want, and you may need to shift to selling something that people need.

4) Stay in contact. One thing I learned just recently is that if you stay in contact with your industry leaders, you will make more money. It happens all the time: People are handed contracts just for being at the right place at the right time, or for knowing the right person.

Using PayPal Could Be A Business Mistake

PayPal, as most people know, is a huge company that allows you to accept payments online. Now owned by eBay, Paypal is used by nearly 164 million people worldwide every year.

I've read about horror stories with Paypal, but never knew anyone who personally had problems with them - until now.

A constituent of mine was telling me how frustrated she was that she had been a victim of identity theft, and that there were some fradulent charges that wiped out the balance in her Paypal account.

I decided to help her by phoning Paypal myself, only to find out that Paypal would not replace the money in her account. In addition, they said it would take them 10-30 days to "investigate" the situation.

I asked the representative what would happen if a person had an extremely large amount of money (such as $5,000) in their Paypal, and it was removed fraudulently. He told me that that too would take 10-30 days to be returned.

I know tons of entrepreneurs who use Paypal, and my advice is to be careful. The people at Paypal do not seem to be in any kind of hurry to return your money to you - if you become a victim of fraud and identity theft.

I did further research and found a site called PayPalSucks.com which claims that when using Paypal, you are "waiving your rights to credit card consumer protection laws." It also states that Paypal does not allow you to "issue a chargeback for unauthorized use of your credit card and PayPal account".

As for me, I will keep my usage of Paypal to a bare minimal - and I will never keep large sums of money in that account.

If you need to accept credit card payments, I highly recommend that you contact your bank about opening a merchant account. Or you can sign up through Authorize.net - an industry leader for credit card processing.

Also, make sure that your bank offers "zero liability" for identity theft and fraudulent charges. There is no reason why a victim should ever be penalized as if they were the criminal!

How To Reach Financial Freedom

Everyone wants to be financially free. The road to that freedom, however, seems paved with a host of obstacles that are seemingly impenetrable. Many of these obstacles are not natural to the path we take, but created by our fears. Fear of success can drive us to do things that are self-defeating.

It is incumbent on us to recognize the role we play in delaying our financial success. Once that is discovered, all else is a matter of hard work and application. Making money is challenging, yes, but there are numerous factors, that if mastered, can make acquiring financial success easier.

First, take charge of your business. It is important to know every aspect of your business so you can effectively manage it. This is integral to ensuring your finances are in order and your money is working for you.

Next, believe that your efforts will be fruitful. Put a lot of work into the business with the knowledge that you are building worth and personal wealth. In the short run, the wealth may not be monetary, but by building a reputation, the monetary wealth will begin to present itself.

Finally, invest your money wisely. Learning how to make your money work for you is key to building wealth. Only invest what you can afford to lose, never more. Stay on top of the changes in the market and keep your money circulating. Over time, you can build a mini empire that will have you set for life.

Financial freedom is not as far off as it seems. Stay the course and believe in your product or service. Don’t let the naysayers steer you from your path.

Should Minority Business Owners Be Pessimistic About The U.S. Economy?

According to Black Enterprise Magazine, "A recent study sponsored by the National Small Business Association revealed that small-business owners are in the midst of challenging times."

The article continues, "Although minorities and women represent the fastest growing groups in the small business community, they were more pessimistic than the majority, believing the economy is worse (48% and 53%, respectively, compared with 43% of all business owners)."

Although times are turbulent for entrepreneurs, being pessimistic about it solves absolutely nothing. At the end of the day, feeling sad or mad won't change anything.

You must learn how to adapt, and this may involve changing the overall direction of your company. Usually though, it just means you have to become more creative with your ideas.

Remember that people still spend money during an economic crisis; they are just much more selective. So, you have to work harder (and smarter) to convince them to spend that money with you.

Also, attitude is everything. Having a negative attitude will almost always bring you down. On the other hand, being positive will allow you to see that when one door closes - another one opens. Everything happens for a reason!

5 Steps For Black Entrepreneurs To Get Business Credit

It's been estimated that fewer then 10 percent of all entrepreneurs know about or truly understand how business credit works. So, lets first define what exactly business credit is.

Having business credit means that you have a line of credit (credit cards, loans, etc) separate from your personal credit. This essentially means that if you take out a business loan, it will only show up your business credit report - not your personal. In fact, anything you do on your business credit will only affect your business.

So the question is how do you get business credit?

1) Repair your personal credit. Although they are separate, you likely will not be able to get a line of business credit, if your personal credit is bad. This is because initially this is all a banker has to go on.

2) Open a business banking account. Be sure to do this at the same bank where your personal bank account is. This will allow the banker to see that you are a good customer. Make sure to open the account in the name of your company with a business tax ID, and try to keep at least $1,500 in that account.

3) Approach your banker about business credit. After months have gone by with a business account at the bank, now you can ask your banker about giving you a line of business credit. You may only qualify for $300 or less, but take it.

4) Utilize your credit line. If you were approved for only $300, this is okay. Use it every month, and pay it back every month. Within 6-8 months, they will likely increase it to $600 or more. Repeat the process, and you will one day have access to thousands of dollars.

5) Pay your bills on time. Don't mess up your business credit. You need to pay your bills on time. You can lose this line of credit, just as fast as you got it. Be responsible, and it will pay off in the long run.

Community Banks May Be A Better Option For Entrepreneurs

Entrepreneur Magazine reports that the recent boom in community banks could mean better lending options for business men and women.

According to the article, "An increase in newly chartered community banks is providing entrepreneurs with an alternative to banking with the big guys. In the past seven years, more than 1,000 of these new institutions, known as de novo banks, have opened their doors. Last year saw the startup of 191 new banks, the most since 2000. Top states for new-bank openings include Arizona, California, Florida, Georgia, North Carolina, South Carolina, Texas and Washington."

To read the full article, Click Here

The 5 Biggest Tax Deduction Myths

I'm not a tax expert, but I did find some interesting information from a 2004 CNN article. This information may be outdated, but I thought it was interesting to share anyway.

Please consult with your tax preparer or accountant to see if these are actually true.

The article outlined the following as personal and business tax deduction myths:

1) Uncle Sam will help you buy that SUV. That may be what a dealer told you, but since when is a car dealer your go-to source for tax information? Some consumers, apparently, have come to believe they can get a tax credit just for buying an SUV, according to the National Association of Tax Professionals. Not so.

However, there is a tax break for SUV buyers who are small business owners. In a controversial move, the U.S. government decided to allow taxpayers to write off up to $100,000 for the purchase of a new SUV in the year it is purchased so long as the vehicle is used for business purposes and weighs more than 6,000 pounds.

2) Hey, honey, guess what? We can write off the house. For some who run home-based businesses, "the myth is you can write off 100 percent of your home," said enrolled agent David Mellem of Ashwaubenon Tax Professionals. The truth is you can only write off the portion of your home that is dedicated to your business.

3) Have medical receipts; will deduct away. Medical expenses may be deductible if -- and it's a huge "if" -- they exceed 7.5 percent of your adjusted gross income (AGI).

That's a higher threshold than you may think and the payoff once you reach it may not be huge. That's because if you do manage to spend 7.5 percent of your AGI in out-of-pocket medical expenses, you'll only be able to deduct the amount above that 7.5 percent.

Remember, "out-of-pocket" means expenses that are not eligible for reimbursement from your health insurer or from your flexible spending plan. "You can't double dip on that," Perlman said.

4) I've dieted, now I'm ready to deduct. That weight-reduction program has done wonders for your waistline, but it probably won't shrink your tax bill.

A weight-loss program may qualify as a deductible medical expense, but only if it meets certain requirements. You can't deduct it unless it your physician prescribed it and it was intended to treat a particular disease.

5) I got the nicest dress for work. I can't wait to write it off. Just because you have to get dressed for work, doesn't mean you get to deduct the cost of your clothes as a work expense.

There is one exception, though. You may deduct the cost of your work clothes if your employer requires you to buy clothing that is specifically not made for everyday wear, such as a uniform or clothing with a company logo.

Should You "Sell Out" To A White Company?

This is where I may lose some fans. My answer to this question is: "It depends."

Don't get me wrong, I am all for Black entrepreneurship and empowerment within the community. I fully understand that ownership is everything to a race that virtually has nothing. However, there are some scenarios when selling your company to a non-black company makes perfect sense.

You should "sell out" to a white company when...

A) Your business is in serious trouble, and no Black-owned company is offering to buy you out. The only one making bids is a white company.

B) A Black-owned company is offering you $100,000 for your business (what you make in a year), and a white-owned company is offering you $5 million.

C) When the same white company that wants to buy you out, is also powerful enough to duplicate your services, and put you out of business.

D) When a white company makes you a very reasonable offer, and you have shareholders who deserve to finally reap financial rewards.

E) When the white company that acquires your business, can actually enhance your business like no other Black company can.

Clearly, these are reasons where one should be excused from "selling out". Many people have criticized Bob Johnson for selling BET to Viacom for $3 billion. However, when you look at it from the business angle - it made perfect sense for him to do that.

Viacom was a bigger and more powerful media company that has sense turned BET from an African-American brand to an American brand. The channel still features Black content, but now with a global appeal. Believe it or not, but the value of BET has actually increased since the Viacom acquisition.

In addition, BET was a public company and Bob Johnson had to ethically and sensibly do what was best for his investors.

At the end of the day, business is business! You have to do what is best for your company. Not making a smart business decision because you may be labeled a "sell out" may cause a financial disaster for you and your shareholders (if you have any).

And who said that every Black entrepreneur is out to save Black America?

How to Get Minority Business Grants

Business grants aren’t easy to come by. Even more difficult is finding minority business grants. But with a little determination, finding the grant you need for your business can be easy. There are numerous places to search, including the Internet and your local library.

Some organizations that specialize in helping businesses, such as the Small Business Administration (SBA) have a wealth of information to assist small business owners with everything from business registration to grants. The SBA will guide business owners through the sea of information, taking the time to ensure the road to a productive business doesn’t turn into a nightmare.

The government also specializes in grants and loans to assist with every aspect of a business. Grants.gov is one of many resources that provides grants for various organizations, including small businesses. USA.gov also gives small business financial assistance to businesses that qualify.

There are numerous local government organizations that provide grants and loans to businesses within the same field. For example, the U.S. Fish and Wildlife Service provides grants for related businesses. Their objective is to help build a particular field in the community in an effort to build or revitalize a much needed resource.

Each state has valuable resources for minority business owners. The local government typically sets aside a portion of its funds for grants to help build a city or state. These funds are a huge part of building economic viability in a particular area, ensuring there are enough jobs and resources for the people. Most major corporations in these areas also have a foundation that specifically provides funds for various outside projects related to the organization, or its social or political leanings. Research that many Fortune 500 companies and you might be surprised to discover that most of them provide funding for a host of things.

Don’t forget to visit your local library. There are dozens of books that give detailed listings of every foundation in existence, as well as grant opportunities nationally.

There ARE grants out there for minority businesses; one just needs to put in a little leg work to locate them.

Here are some additional resources:

1) Minority Business Development Agency - www.mbda.gov

2) National Minority Business Council - www.nmbc.org

3) Minority Business Entrepreneur Magazine - www.mbemag.com

4) 2008 Grants For Women - www.GrantsForWomen.org

Four Mistakes To Avoid When Raising Money For Your Company

Brad Sugars, columnist and founder of Action International, recently outlined some major blunders on Entrepreneur.com. He says that, "Steering clear of these missteps can increase your chances of success, both in obtaining startup funds and keeping the money flowing."

Here they are:

1) Poor business plans: When you go to meet with investors (family, friends, or investment firms), make sure you are prepared. If you don't put the time and energy into it, the people with the cash won't put the time into evaluating your proposal. The SBA is a good source for learning how to write a business plan as well as sample formats.

2) Not asking for enough money: In a 2004 U.S. Bank study of reasons for small business failures, 79 percent cited "starting out with too little money" as one of the causes of their collapse. That's often because entrepreneurs who are wet behind the ears don't realize that they should calculate their borrowing needs based on their worst-case scenario instead of their best-case forecast.

3) Having too many lenders or investors: One of the hazards of securing financing from multiple sources is managing too many relationships and expectations. It takes time away from your core business. These not-so-silent partners may have conflicting interests or demands and the consequences can be devastating. This is particularly true when you raise money from friends and family.

4) Failing to get the proper legal agreements: Every lender or investor eventually will need his money back, and a legal document covering everything from the terms to the timing can avoid a disaster.

Sugars says, "There are other pitfalls to avoid, but the bottom line is this: Play by the lenders' rules to get them to open their checkbook, but protect yourself at the same time. There's no point in launching a business that will eventually sink under the weight of your investors' demands. If your business plan is good enough and you approach the right people, you should be able to whistle all the way to the bank."

For the complete article, visit:
www.entrepreneur.com/startingabusiness/startupbasics

Open Your Eyes...And Your Wallet

The moment that you realize that it takes money to make money, that's when your company will take off. Black entrepreneurs, in particular, have a problem understanding this concept.

We have to open our eyes, and snap out of it! I'm very confident that this is one of the reasons why Black businesses are more likely to fail than our white counterparts.

You must invest in your ideas. Not just time and energy...but money too! If you don't have a lot of money to invest, then learn to make sacrifices. Cut back on all those clothes you buy, those vacations you take, those cigarettes you smoke, etc.

Ask any successful entrepreneur, and they will tell you that in the beginning they had to make sacrifices so that they could invest more money into their ideas.

Worse come to worse, you need to get out there and start fundraising. That's right, fundraising - just like they do in elementary school. Oh, you thought this would be easy? Think again.

Don't Use A Payday Loan To Finance Your Business

Every business will have cash flow problems at one time or another. Despite this, don't ever resort to using payday loans. This will only make your problem even worse. Now they have payday loan services specifically for businesses. Check out this article recently featured on BlackEnterprise.com: www.blackenterprise.com/wealth/wealthopen.asp?id=3558

I have heard so many horror stories about Payday loans. Don't be fooled! These loans are malicious and are designed to keep you in a cycle of paying interest.

You Can't Grow A Business With Jacked Up Credit...

Choice Credit Group, a Black Owned Credit Repair Organization, announced the continuation of offering their services free nationwide. Choice Credit Group kicked off this campaign at The Detroit Buy Black Weekend in May 2007. The need for credit report and repair information was so enormous that Choice Credit Group has decided to continue their services one weekend out of each month free to the public.

For more info, visit http://www.choicecreditgroup.com/ or call toll free 1-877-380-DEBT(3328).

If I had bad credit, I would work every single day to fix it. Credit is more important than cash. You can't get a business loan or a business line of credit, if your credit history is jacked up.