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Speaker 1: Welcome to my show. I'm Rashon McDonald, a host of

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Speaker 1: Money Making Conversations Masterclass. Well, we encourage people to stop

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Speaker 1: reading other people's success stories and start planning your own.

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Speaker 2: Now.

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Speaker 1: You don't want to miss an episode, so please take

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Speaker 1: a moment right now to follow or subscribe to Money

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Speaker 1: Making Conversations Masterclass. It's free. You can follow me on iHeartRadio, app, Spotify,

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Speaker 1: Apple Podcasts, or wherever you listen to your podcast. New

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Speaker 1: money Making Conversations Masterclass episodes drop daily. I want to

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Speaker 1: keep you on alert because my guests provide tips on

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Speaker 1: how you can uplift your community, improve your financial planning, motivation,

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Speaker 1: or advice on how to be a successful entrepreneur. Now,

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Speaker 1: let's get this podcast started. My next guest is an

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Speaker 1: award winning finance expert and best selling author. She is

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Speaker 1: also the CEO and CFO of New Day for You Financial.

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Speaker 1: She is a national leader and business Funding Solutions. Katrina

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Speaker 1: helps women business owners secure up to one hundred thousand

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Speaker 1: dollars in funding in one hundred days or less with

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Speaker 1: same day approval and next day funding. This is the

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Speaker 1: right person to have on Money Making Conversations. Please walk

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Speaker 1: with the money Making conversations, masterclass, Katrina fitting How you doing, Katrina.

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Speaker 2: I am doing wonderful. Nice to be here, Nice to

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Speaker 2: meet you once again. I remember seeing you long years

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Speaker 2: ago on the Steve Harvey Show.

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Speaker 1: That's my man, my man, Steve Harvey. I'm cooking up

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Speaker 1: stuff here, cooking up money, ideas and everything. But it's

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Speaker 1: really funny, Katrina. A lot of people still follow me

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Speaker 1: because I bake. A lot of people still follow me

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Speaker 1: because I cook all those good things. And it's been

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Speaker 1: very fortunate to have that kind of a well rounded career. Now,

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Speaker 1: money making conversation, let's start up right here. I get

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Speaker 1: a lot of texts, I get a lot of emails

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Speaker 1: by people talking about they looked up my credit, they

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Speaker 1: looked me on LinkedIn. They can give me fifty thousand

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Speaker 1: dollars and give me sixty five thousand dollars. It's give

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Speaker 1: me a call. And what is a scam and what

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Speaker 1: you should be on the lookout when people start sending

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Speaker 1: these texts, start sending these emails engaging potential business people

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Speaker 1: who want that big break, who need just a little

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Speaker 1: money to jumpstart their dreams. Talk to us about those

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Speaker 1: emails that I be getting and I'm sure a lot

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Speaker 1: of people out there get to.

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Speaker 2: Yes, ra Sean, this is a really good question because

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Speaker 2: oftentimes we get hung up on these what ninety second

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Speaker 2: ig takes and these shorts and all of these conversations

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Speaker 2: and our emails are being flooded now because obviously there

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Speaker 2: is funding now that is available for startups and essentially

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Speaker 2: you have to qualify. Oftentimes, when we are seeing this,

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Speaker 2: we're not actually talking about what the requirements are. And

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Speaker 2: so to make it really frank, because this is what

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Speaker 2: I do every day, and that is this, how do

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Speaker 2: you qualify? If you have a six point eighty credit

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Speaker 2: score or higher, you have at least four figures in

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Speaker 2: a credit card already, right, you need to have at

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Speaker 2: least ten thousand credit card already, Okay, and you have

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Speaker 2: a business that has a mission to make money and

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Speaker 2: your risk is low. This is the answer to that question.

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Speaker 2: So what that means is that, yes, if you take

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Speaker 2: the clickbake or you make the call, the first thing

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Speaker 2: that's going to happen is that we're going to have

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Speaker 2: a conversation with you first to find out is your

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Speaker 2: money mindset right, because we don't want to be out

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Speaker 2: here racking up the good debt and then you're not

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Speaker 2: going to be responsible. That's number one, right, Are you

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Speaker 2: ready to actually execute on the mo so that you

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Speaker 2: can get a cash on cash return is what we

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Speaker 2: call it, and so you're able to deploy that money

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Speaker 2: properly to be able to pay the money back.

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Speaker 1: So the bigger picture, though, Katrina, is that these are

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Speaker 1: unknown people contacting you, right, and so that means in

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Speaker 1: order to even go beyond, you got to share information

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Speaker 1: with them that can in turn enable people to scam you.

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Speaker 1: That's the bigger issue here because you get it all

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Speaker 1: the time. I get it from Chase, I get it

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Speaker 1: from America Express. They'll tell you, hey, look you got

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Speaker 1: a credit card here, sign here. But that's a brand

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Speaker 1: that we know is legit. But there's so many companies

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Speaker 1: out there now they're just ramming you, ramming you're ramming

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Speaker 1: your information and bargain opportunities. That scam side is very high.

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Speaker 1: Not so much about the qualifying side, but that scam side.

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Speaker 1: That's the part that I really want to drive home

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Speaker 1: to everybody is a really really research and if there

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Speaker 1: are any websites that they can go to the unions

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Speaker 1: please yes, that.

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Speaker 2: Is exactly a really good, really good question. And the websites.

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Speaker 2: You want to go over to what we call the

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Speaker 2: Business Better UA right, the Business Bureau Right. You want

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Speaker 2: to go over to BBB right, and you want to

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Speaker 2: look up that company right and see what their scores

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Speaker 2: are and see if they have any bad reviews. You

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Speaker 2: want to do your homework. Go to the Google dot

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Speaker 2: com and do their homework and see do they have

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Speaker 2: any testimonials about people saying they're actually getting money right.

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Speaker 2: You can also vet them by asking them who are

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Speaker 2: they working with so on the behind the scenes as

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Speaker 2: far as New Day for You financial, we work with Chase,

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Speaker 2: we work with American Express, US Bank, all of the banks.

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Speaker 2: We have relationships with these banks and so we're outsourcing

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Speaker 2: for them. And so that's how we know one hundred

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Speaker 2: percent that we're able to get you money if you

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Speaker 2: are qualified, and that's the key. If you are qualified,

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Speaker 2: and you have to make sure that you vet the

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Speaker 2: companies that you want to work with to make sure

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Speaker 2: that they are reputable companies.

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Speaker 1: Please don't go anywhere. We'll be right back with more

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Speaker 1: Money Making Conversations Masterclass. Welcome back to Money Making Conversation

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Speaker 1: master Class hosted by me, Rashawn McDonald. Let's get back

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Speaker 1: into it. What's the minimum somebody that needs to provide

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Speaker 1: to you in order to find out if they're qualified

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Speaker 1: when they come to your company New Day for You Financial.

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Speaker 2: Right, So if you go over right now to New

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Speaker 2: Day for You Financial dot Co. We have a pre

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Speaker 2: approval process. It's a soft pull process. We have a

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Speaker 2: relationship with Equifax where we can do a soft pool

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Speaker 2: and we're able to see whether you can qualify or

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Speaker 2: not just by looking at the information that is available.

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Speaker 2: Once we pre qualify you and get you pre approved,

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Speaker 2: the next step is that we're going to have a

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Speaker 2: conversation with you to make sure that you're able to

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Speaker 2: pay the money back. You have a plan for the money.

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Speaker 2: And this is for startups only, obviously, if you're wanted

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Speaker 2: to get you know, some of the six and seven

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Speaker 2: figure We do SBA loans, We do collateral loans with

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Speaker 2: equipment purchase orders. We do loans as well as lines

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Speaker 2: of credit. And so how we're able to do that

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Speaker 2: is because we have the relationships with the bank and

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Speaker 2: they are doing the underwriting for us to be able

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Speaker 2: to make that happen. And so this is the process.

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Speaker 1: We are talking about you though, Katrina, the business model,

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Speaker 1: the business plan. So many people you talked about the

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Speaker 1: credit report, but so many people coming to you with

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Speaker 1: this great idea to Katrina, but they don't have a

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Speaker 1: business plan. Will you tell my audience how you frown

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Speaker 1: on people who walk up to you without a business plan.

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Speaker 2: Oh my god, you just don't even know it is.

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Speaker 2: So many people think that it's free money, right, and

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Speaker 2: you just have an idea pie in the sky. You

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Speaker 2: had a dream last night and now you wanted your

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Speaker 2: money to be able to implement. You have to be strategic.

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Speaker 2: You have to put together a business plan step by

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Speaker 2: step on what you're going to deploy the money to do.

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Speaker 2: If you do not have a plan on what you're

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Speaker 2: going to do, I call it your money mission. If

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Speaker 2: you don't have a mission for your money and you

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Speaker 2: don't tell your money where to go, guess what you're

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Speaker 2: gonna look up and that money is going to be

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Speaker 2: gone because you already know. We have oftentimes propensity to

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Speaker 2: have money in our pocket and it burns and it's

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Speaker 2: hot and you have to get it out of your pocket,

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Speaker 2: right or we have a pocket with holes in it,

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Speaker 2: like my grandmama used to say, but you have to

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Speaker 2: have a plan for your money, or your money will

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Speaker 2: have a plan and you'll look up and that money

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Speaker 2: will be gone. And you're old at money, and that's

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Speaker 2: where you get the bad wrap and the bad credit.

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Speaker 2: It's because you don't have a plan for your money.

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Speaker 2: You have to have a spending plan.

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Speaker 1: Please don't go anywhere. We'll be right back with more

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Speaker 1: Money Making Conversations Masterclass. No need for you to do

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Speaker 1: me a favor right now to follow or subscribe to

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Speaker 1: Money Making Conversation. It's free and you can find it

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Speaker 1: on the iHeartRadio app, Spotify, Apple Podcasts, or wherever you

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Speaker 1: get your podcasts. Please do me that favor, follow or

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Speaker 1: subscribe money Making Conversations. Welcome back to Money Making Conversations

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Speaker 1: Masterclass hosted by me Rashaan MC. Money Making Conversations master

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Speaker 1: Class continues online at Moneymaking Conversations dot com and follow

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Speaker 1: money Making Conversations master Class on Facebook, x and Instagram. Relatives.

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Speaker 1: You know how people treat relatives asking for money versus

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Speaker 1: a bank, And I try to treat and I've learned

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Speaker 1: over the years, Katrina, there's a reason why lenders do

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Speaker 1: what they do. And please talk to my audience about

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Speaker 1: when relatives come to them for money. I don't care

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Speaker 1: if it's a small amount of money a large amount

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Speaker 1: of money, how you should treat them.

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Speaker 2: So I have learned how you're supposed to treat relatives, friends, family, neighbors,

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Speaker 2: whomever that comes to you to borrow money. First of all,

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Speaker 2: you want to put an actual stipulations. I'm not gonna

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Speaker 2: say contract, but I'm just gonna say, you want to

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Speaker 2: have a a contract or a written agreement, you know,

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Speaker 2: on what are the terms on which you are borrowing

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Speaker 2: this money for? So you say you want to borrow

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Speaker 2: let's just say ten thousand dollars. Okay, that's the amount.

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Speaker 2: So what I'm going to find out on what terms

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Speaker 2: are we going to have this repayment by when? How often?

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Speaker 2: The frequency you're going to pay me? Which is your

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Speaker 2: payments plan? By what date? And I'm gonna say this

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Speaker 2: is what if you don't pay me, this is the penalty.

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Speaker 2: You know, I would put some penalties in place on agreements,

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Speaker 2: saying if you don't do this, hey, you could say collateral.

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Speaker 2: You know, I'm just saying, you know, you could say hey,

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Speaker 2: if you don't Oh.

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Speaker 1: No, that's that's racist. Oh you you the man. Now

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Speaker 1: you trying to hold me back. Okay, you're my cousin,

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Speaker 1: you're my sister.

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Speaker 2: No, if you're a good steward over your money, you

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Speaker 2: have to have some terms in place in order to borrow.

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Speaker 2: If people are gonna borrow money, you got to have

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Speaker 2: some type of terms in place. You can't just give

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Speaker 2: away money because why you're responsible. You've been giving stewardship

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Speaker 2: over what you've been blessed with, and so you can't

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Speaker 2: just give it away because why your money have a

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Speaker 2: mission and you want to be able to what double

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Speaker 2: your money you want? When you put money out, you

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Speaker 2: wanted to come back to you doublefore right, one hundred four.

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Speaker 2: So that's the terms of it, is that you're responsible.

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Speaker 2: And so I always just make an agreement and say this.

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Speaker 2: If I give you money, I'm going to decide is

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Speaker 2: it a gift or is it a loan? I give

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Speaker 2: it to you. I don't expect anything back, there's no

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Speaker 2: streams attached, or I'm going to put some terms in

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Speaker 2: place in order to make sure that I get my

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Speaker 2: money back and with interest.

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Speaker 1: That's how I do it. I said, I look at

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Speaker 1: a person, I said look, don't worry about paying me. Here,

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Speaker 1: here's the money, because I'm not going to track you down.

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Speaker 1: I know exactly who I'm giving money to, because you

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Speaker 1: have to evaluate who you're giving your money to.

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Speaker 2: Now.

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Speaker 1: I've also given money to people who I know I'm

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Speaker 1: going to give the money back. But also I'm giving

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Speaker 1: money to people that go don't worry about it. I

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Speaker 1: got you. Don't worry about It's a gift. I just

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Speaker 1: want to see you be successful. But what I would

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Speaker 1: just wanted to state in this conversation I was having

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Speaker 1: with Katrina here was that they're rules to being successful.

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Speaker 1: They are rules to borrow money. They're rules, and there's

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Speaker 1: so many people in the minority community, the community of color,

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Speaker 1: and I know it's difficult. I know our skin tone,

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Speaker 1: I know our background might hold us back. But when

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Speaker 1: you're trying to borrow money, there has to be rules.

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Speaker 1: It has to they had just because you want one

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Speaker 1: hundred thousand dollars. If they give you one hundred thousand

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Speaker 1: dollars and you don't have a business plan, then they

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Speaker 1: are the foods and they will be shut down.

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Speaker 2: There you go one hundred percent. If we have loans

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Speaker 2: that we give out and uh, they become bad loans.

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Speaker 2: That hurts my business. Right, So that's why we vet

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Speaker 2: our clients thoroughly and to make sure that they have

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Speaker 2: a plan in place. We can look at their history

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Speaker 2: to see what was the of they trustworthy? What are

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Speaker 2: their creditability to other people? Right, even with your family,

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Speaker 2: if you have other family members that said, hey, they

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Speaker 2: didn't pay me back, you have another family member they

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Speaker 2: didn't pay me back, So why you gonna line up

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Speaker 2: to get not paid back. So it's the same thing

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Speaker 2: with the pains. You know, they're gonna look at your credibility,

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Speaker 2: your history, your credit profile, what have your history been,

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Speaker 2: and so these other things that I've been seeing out

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Speaker 2: here is that you're saying, hey, business, we're gonna get

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Speaker 2: you business credit. And you think you're gonna get business

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Speaker 2: credit and they're not gonna look at your personal credit profile. Well,

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Speaker 2: they don't have nothing to go by it. They're not

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Speaker 2: gonna just give you credit if they don't even know

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Speaker 2: what your history is.

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Speaker 1: Oh, I love it. I love it. Katrina. We are

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Speaker 1: doing good. Okay, I'm talking to Katrina fitting she's the

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Speaker 1: CEO and CFO of New Day for You Financial.

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Speaker 2: Now.

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Speaker 1: When I opened the show. I want to get back

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Speaker 1: to this, I said, you are a national leader and

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Speaker 1: business funding solutions. Katrina helps women business owners secure one

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Speaker 1: hundred thousand dollars in funding in one hundred days or

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Speaker 1: less with same their approvals and next day funding. Tell

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Speaker 1: us how that works, right?

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Speaker 2: So, for example, my one of my clients, Angeline, she

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Speaker 2: is she's a tax accountant, she does taxes, she does

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Speaker 2: tax strategy and bookkeeping for her business. She came to

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Speaker 2: me she was like, Katrina, we are in need of

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Speaker 2: doing some rebranding for our business and I want to

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Speaker 2: get a minimum of one hundred K to be able

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Speaker 2: to deploy this to you know, get some additional help

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Speaker 2: and team. And so that's what we did. We did

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Speaker 2: a credit analysis on her. We saw that she had

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Speaker 2: good credibility. It was very trustworthy, she paid her bills

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Speaker 2: on time, and she had a business that was already

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Speaker 2: making revenue. So if we already knew pre approval, we're

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Speaker 2: able to get her the money that she requested. We

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Speaker 2: went through the process of asking her what is your

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Speaker 2: business plan, what are you going to do with it?

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Speaker 2: Once we applied, we went through underwriting. We were able

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Speaker 2: to secure her one hundred and sixty thousand dollars in

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Speaker 2: funding in less than a week. Why because she was

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Speaker 2: already ready, right, she had the revenue, she had the

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Speaker 2: business plan, she already had a business that was already operating.

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Speaker 2: She was she's been in business for over twenty years, right,

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Speaker 2: so we know that we can get that money to

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Speaker 2: her really quick, right, Versus someone who they have, you know,

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Speaker 2: pretty sketchy credit. Right, they have some challenges there, They've

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Speaker 2: had a lot of late payments, they have some collections

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Speaker 2: on that. We will tell them you need to go to.

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Speaker 2: We have relationships with credit restoration consultancies. We help them.

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Speaker 2: We will refer them to get their credit, you know.

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Speaker 1: Right.

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Speaker 2: Once they get their credit right and they are meeting

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Speaker 2: their requirements over time, we see they have some history

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Speaker 2: where they're starting to pay on time, then yes, we're

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Speaker 2: able to get them some funding as well. But we

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Speaker 2: want to make sure that we're not out here just

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Speaker 2: telling people we're going to give everybody one hundred thousand.

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Speaker 2: We have to prequalify you first. Once you get past

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Speaker 2: our pre qualification and you have a plan and a

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Speaker 2: mission for your money, oh we can help you all day.

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Speaker 1: Oh no, it's right. Business plan here that business player

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Speaker 1: here Katrina, she said, business plan and some years in business,

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Speaker 1: don't we're coming up here. You made that business for

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Speaker 1: six months or year expecting to get a lot of

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Speaker 1: money because so we have risks. It's risky your risk

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Speaker 1: now in your background talking to CEO and CFO of

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Speaker 1: New Day for you Financial, what are all the services

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Speaker 1: that you guys provide you to go to the website?

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Speaker 1: Can you give us a precursor on what to expect

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Speaker 1: when you go to the website and what's your main

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Speaker 1: purpose is? If there's funding other services that you provide

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Speaker 1: at New Day for you Financial.

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Speaker 2: Yeah, so obviously we are a financial education consulting company

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Speaker 2: as well. So when you go over to New Day

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Speaker 2: Forufinancial dot Co. The we have a whole page of

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Speaker 2: all of the different services that we provide. Like I

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Speaker 2: had mentioned to you earlier, we provide SBA loans. We

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Speaker 2: actually provide equipment loans, like if you've bought equipment, you

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Speaker 2: can get a loan against your equipment if you have

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Speaker 2: government contracts. And you know, I have a client who's

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Speaker 2: in construction and they her and her husband, they have

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Speaker 2: a business that they do flooring and they do windows

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Speaker 2: for apartment buildings and things of that nature. Well, oftentimes

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Speaker 2: they have these contracts where they have a promise to

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Speaker 2: pay and they have you know, obviously purchase orders that

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Speaker 2: are out there, but the work is not until you know,

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Speaker 2: six months later when they complete it. Well, you can

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Speaker 2: actually get a loan against those purchase orders, right. And

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Speaker 2: the other thing we do we can give you get

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Speaker 2: you lines of credit, which is really wonderful. I love this.

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Speaker 2: It's kind of like a he lock, you know, like

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Speaker 2: you can go get an equity against your home. You

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Speaker 2: can get you know, a line of credit with credit

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Speaker 2: card companies like Chase, an American Express. We also do

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Speaker 2: obviously zero percent interest credit card. Now, this is the

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Speaker 2: thing that's hot right now is that literally we are

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Speaker 2: able to qualify you for a zero percent interest credit

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Speaker 2: cards up to eighteen to twenty one months in some cards.

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Speaker 2: And literally if you have a plan, a strategic plan

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Speaker 2: to go take you know, the twenty five grand that

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Speaker 2: American Express gives you on a credit card and you

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Speaker 2: can go put it into something like a business somehow.

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Speaker 2: I'm telling you, if you can turn that money around,

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Speaker 2: you could literally pay no interest on So that is

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Speaker 2: what is really really hot nowadays. And the other thing

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Speaker 2: about it, Rashean, is this, you don't even have to

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Speaker 2: show an actual you don't even have to show that

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Speaker 2: how much money you actually make. They're just going by

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Speaker 2: your credit score. And you can get zero percent interest cards,

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Speaker 2: and we have something that we call credit card stacking

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Speaker 2: where we're able to get more from these banks all

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Speaker 2: in one shot. So it's a wonderful thing. I see

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Speaker 2: people get fifty thousand, sixty thousand just in credit cards.

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Speaker 2: And if you were able to make that happen with

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Speaker 2: zero percent interest, if you got a plan, I'm telling

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Speaker 2: you you can really be able to do some things.

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Speaker 2: And so that's just a little bit about what we

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Speaker 2: can do for those who come to our website. And

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Speaker 2: all it takes is is clicking the button there to

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Speaker 2: fill out the short application. We don't ask for your

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Speaker 2: social or anything of that nature. We do look at

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Speaker 2: experience doing a soft pool to get you pre qualified.

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Speaker 2: If you decide to move forward with what we preapprove

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Speaker 2: you with, we do ask for an administrative back in

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Speaker 2: once what we call a success fee. If we get

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Speaker 2: you the money, then you pay us, don't. We don't

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Speaker 2: ask for no money until you actually get your money.

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Speaker 2: So that's what we do, and that's the kind of

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Speaker 2: you know, reputation that we have as well as in

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Speaker 2: the the integrity that we have. We say, if you

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Speaker 2: don't get anything, we don't get paid.

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Speaker 1: Katrina, thank you for coming on Money Making Conversation Masterclass.

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Speaker 1: I appreciate you. Thank you for listening to this episode.

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Speaker 1: Now I need you to do me a favor right

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Speaker 1: now to follow or subscribe to Money Making Conversations. It's

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Speaker 1: free and you can find it on the iHeartRadio app, Spotify,

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Speaker 1: Apple Podcasts, or wherever you get your podcasts. Please do

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Speaker 1: me that favor, follow or subscribe money Making Conversations. Keep winning.