July 18, 2018 • 7 mins
Nephew Tommy interviews 26 year banking veteran Michael Williams. Mr. Williams gives us the advice we need to get a loan to opening our dream business.
Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Ladies and gentlemen, it's your boy. You are rocking with
Steve Harvest Saturdays. But guess what We're gonna just hit
the brakes for a minute, because guess what time it is.
It is timing time. We are talking to regular people
that have extraordinary gifts. I got on the line right now.
He is a banker, an African American banker, the one
and only Michael Williams. Mr Williams. Mr Williams, Sir, how
(00:28):
are you, sir? I'm doing good. I cannot complain. You
are an African American banker. Where did you go to school?
Talk to me. I went to both Texasuta University and
the University Houston the degree in finance. How long have
you been in the banking business. I've been doing this
for twenty six years. Wow. Okay, so let's break it out.
I'm always here where African American were going to a bank.
(00:52):
We may have the amount of money that we need,
or we may not have all the money that we need.
But let's just say in my community, I want to
open up a cleaner. What do I need in order?
Before I come to you, because the last thing I
want is for you to tell me you can't give
me the loan to do this. What do I need
laid out to accomplish my goal? Tommy, let me put
the summary heading on what you just said. It's called
(01:15):
access to capital. Access to capital, and this is a
critical role in what I do every single day. As
a gateway to living the dream that you just mentioned,
you have to have done a business plan that fully
goes into all the details associated with what it takes
to run that particular kind of business. So we want
(01:38):
to know that you've done your research to understand all
the mechanisms and all the necessary tools you will need
to run an effective business. Next, you will need to
have good credit. That's just the bottom line. If you
come in to talk to a bank and your credit
is below seven, you're gonna run into hurdles. If you
(01:58):
start talking about your below senter, you're just not gonna
get it done. Okay. So, if I have a seven
plus credit score and I want to open up a cleaner,
do I need anything else? You know, cleaners experience? What
is it that the bank looks at? What if this
is something I've decided to do for the first time?
You know what? I don't know? If I know all
of it. But I got good credit, and I got
(02:19):
a few dollars, and I want to buy myself a cleaners.
I'm gonna hire people I know have worked at cleaners before,
and they can come in and they can do the work,
and I can manage it and I can make sure
I operated right. What is the bank looking at now?
You raise a good point, because we're still going back
to that point you're initially raised, and that is pursuit
of the American dream, only your own business, right, So
(02:42):
we look at the fact or the lack there of
if you had prior experience in that industry. If you
haven't had prior experience, it's not that it's gonna hurt you,
but it certainly is something that is taken into account
because we're gonna analyze everything. So, now, if you don't
have that experience and this is your first four year
into whatever that industry is, then we're gonna look at
(03:04):
something like the SPA to offset the risk associated with
you getting into that industry. The second thing that we're
gonna look at is are you going to work full
time in that industry, meaning in the job or in
the business that you're trying to create. If you're not
going to work full time in that industry, that's something
(03:25):
that is going to take away from the strength of
the presentation that you're making, because everyone should know and
it should be very much an important fact in everyone's life.
If you don't watch your money, your money will not
be your money long term. So if you're not in
the shop watching your money, then just expect that at
(03:47):
some point in time something will happen. And I'm not
predicting or saying that someone will be corrupt and or
still your money. I'm just being very clear that history
has told us that if you're not they're watching that
task for us to ring up right, you can expect
that it's not gonna come up right. It's not gonna
come up right. And we call that there's gonna be
(04:09):
some shrink. I feel that I mentioned the shrink. Let
me ask you this because you know, I'm an African
American brother, I gotta ask this question, and I'm the
most non racial person I could care less what your
race is. OK, there's a lot of those stores in
the black community that are run by Asian descent. Why
(04:31):
is it or how is it that they can have
these stores and I'm not throwing any rocks at them.
I applaud them for doing the business that they do,
But how is it that they can get alone from
the bank to open up their store? My brother, Let's
keep it clear. It's not only Asian, but every other
gas station is of Indian descent ownership. The reason being
(04:51):
they do one thing we do not as a people,
both those Persians slash Indian slash Middle Eastern individuals and
those Asian individuals, and that is they come together and
pool their resources and help one another get their businesses started.
As a matter of fact, they do something else that
we don't do. That they actually lived together, save their
(05:13):
money as a family unit, and then collectively make the
decision on who's going to get into business first, pull
their funds together and help that individual get started first.
Then that individual, once he is she is starting to
earn profit from that business. Along with the savings that
the family continues to make for the other ones pulled
together and help them start their businesses. They take that
(05:36):
and then next generation typically will go to get professional
degrees doctors Laura's Dennis and the like, and then that
actually adds to the pot that they're saving because their
earning potential is higher. So are you saying we as
the black community, do we need to use that format
(05:57):
in order for us to get to the goal that
we're trying to obtain. If we can ever change our
mindset to think about how we progress as a people
collectively versus individually. Going out and as a rule, what
we do is we leave home early, and as a rule,
we're gonna get the nicest car, and we're gonna floss,
(06:17):
and we're gonna get clothes and jury and everything else.
And I'm not knocking anybody for that decision choice. However,
there's a practice that we do not follow, and it's
simply called deferred gratification. Deferred gratification break that down for it.
Deferred gratification meanings putting off today what you think you
quote unquote won't in order to have a better life
(06:39):
or make better decisions later because you've decided today that
instead of spending that dollar, you're going to save that dollar. See,
because once you have money saved in the bank, you
can make a whole lot of great decisions and opportunities
that will come your way. You can decide at a
later point to participate in ask and or make sure
(07:01):
your money is working for you instead of you working
for your money. But you have to have have saved
your money, which is what they do in the Asian
community and which is what they do in the Middle
Eastern community. They saved their money in the near term
so that ten years from now they can make a
decision that's gonna read better and bigger benefits from them economically.
(07:23):
So we don't do that as a people, what don't
we do and those who are training their kids to
do that, but as the majority where that. Okay, I
can take it, babe, I can take it. I can
take it. This is time and time. I just want
you to give it to me straight and forward. Don't
don't sugarcoat and give it to me. Hey man, I
want to thank you for coming on the show. I
(07:44):
appreciate it. This is Steve Harvest Saturdays. We just hit
our brakes for a minute and it was what time
and time. I appreciate you dropping in on time of time.
Thank you Mr Williams the African American banker. Appreciate your
brother all right much any time
Ladies and gentlemen, it's your boy. You are rocking with
Steve Harvest Saturdays. But guess what We're gonna just hit
the brakes for a minute, because guess what time it is.
It is timing time. We are talking to regular people
that have extraordinary gifts. I got on the line right now.
He is a banker, an African American banker, the one
and only Michael Williams. Mr Williams. Mr Williams, Sir, how
(00:28):
are you, sir? I'm doing good. I cannot complain. You
are an African American banker. Where did you go to school?
Talk to me. I went to both Texasuta University and
the University Houston the degree in finance. How long have
you been in the banking business. I've been doing this
for twenty six years. Wow. Okay, so let's break it out.
I'm always here where African American were going to a bank.
(00:52):
We may have the amount of money that we need,
or we may not have all the money that we need.
But let's just say in my community, I want to
open up a cleaner. What do I need in order?
Before I come to you, because the last thing I
want is for you to tell me you can't give
me the loan to do this. What do I need
laid out to accomplish my goal? Tommy, let me put
the summary heading on what you just said. It's called
(01:15):
access to capital. Access to capital, and this is a
critical role in what I do every single day. As
a gateway to living the dream that you just mentioned,
you have to have done a business plan that fully
goes into all the details associated with what it takes
to run that particular kind of business. So we want
(01:38):
to know that you've done your research to understand all
the mechanisms and all the necessary tools you will need
to run an effective business. Next, you will need to
have good credit. That's just the bottom line. If you
come in to talk to a bank and your credit
is below seven, you're gonna run into hurdles. If you
(01:58):
start talking about your below senter, you're just not gonna
get it done. Okay. So, if I have a seven
plus credit score and I want to open up a cleaner,
do I need anything else? You know, cleaners experience? What
is it that the bank looks at? What if this
is something I've decided to do for the first time?
You know what? I don't know? If I know all
of it. But I got good credit, and I got
(02:19):
a few dollars, and I want to buy myself a cleaners.
I'm gonna hire people I know have worked at cleaners before,
and they can come in and they can do the work,
and I can manage it and I can make sure
I operated right. What is the bank looking at now?
You raise a good point, because we're still going back
to that point you're initially raised, and that is pursuit
of the American dream, only your own business, right, So
(02:42):
we look at the fact or the lack there of
if you had prior experience in that industry. If you
haven't had prior experience, it's not that it's gonna hurt you,
but it certainly is something that is taken into account
because we're gonna analyze everything. So, now, if you don't
have that experience and this is your first four year
into whatever that industry is, then we're gonna look at
(03:04):
something like the SPA to offset the risk associated with
you getting into that industry. The second thing that we're
gonna look at is are you going to work full
time in that industry, meaning in the job or in
the business that you're trying to create. If you're not
going to work full time in that industry, that's something
(03:25):
that is going to take away from the strength of
the presentation that you're making, because everyone should know and
it should be very much an important fact in everyone's life.
If you don't watch your money, your money will not
be your money long term. So if you're not in
the shop watching your money, then just expect that at
(03:47):
some point in time something will happen. And I'm not
predicting or saying that someone will be corrupt and or
still your money. I'm just being very clear that history
has told us that if you're not they're watching that
task for us to ring up right, you can expect
that it's not gonna come up right. It's not gonna
come up right. And we call that there's gonna be
(04:09):
some shrink. I feel that I mentioned the shrink. Let
me ask you this because you know, I'm an African
American brother, I gotta ask this question, and I'm the
most non racial person I could care less what your
race is. OK, there's a lot of those stores in
the black community that are run by Asian descent. Why
(04:31):
is it or how is it that they can have
these stores and I'm not throwing any rocks at them.
I applaud them for doing the business that they do,
But how is it that they can get alone from
the bank to open up their store? My brother, Let's
keep it clear. It's not only Asian, but every other
gas station is of Indian descent ownership. The reason being
(04:51):
they do one thing we do not as a people,
both those Persians slash Indian slash Middle Eastern individuals and
those Asian individuals, and that is they come together and
pool their resources and help one another get their businesses started.
As a matter of fact, they do something else that
we don't do. That they actually lived together, save their
(05:13):
money as a family unit, and then collectively make the
decision on who's going to get into business first, pull
their funds together and help that individual get started first.
Then that individual, once he is she is starting to
earn profit from that business. Along with the savings that
the family continues to make for the other ones pulled
together and help them start their businesses. They take that
(05:36):
and then next generation typically will go to get professional
degrees doctors Laura's Dennis and the like, and then that
actually adds to the pot that they're saving because their
earning potential is higher. So are you saying we as
the black community, do we need to use that format
(05:57):
in order for us to get to the goal that
we're trying to obtain. If we can ever change our
mindset to think about how we progress as a people
collectively versus individually. Going out and as a rule, what
we do is we leave home early, and as a rule,
we're gonna get the nicest car, and we're gonna floss,
(06:17):
and we're gonna get clothes and jury and everything else.
And I'm not knocking anybody for that decision choice. However,
there's a practice that we do not follow, and it's
simply called deferred gratification. Deferred gratification break that down for it.
Deferred gratification meanings putting off today what you think you
quote unquote won't in order to have a better life
(06:39):
or make better decisions later because you've decided today that
instead of spending that dollar, you're going to save that dollar. See,
because once you have money saved in the bank, you
can make a whole lot of great decisions and opportunities
that will come your way. You can decide at a
later point to participate in ask and or make sure
(07:01):
your money is working for you instead of you working
for your money. But you have to have have saved
your money, which is what they do in the Asian
community and which is what they do in the Middle
Eastern community. They saved their money in the near term
so that ten years from now they can make a
decision that's gonna read better and bigger benefits from them economically.
(07:23):
So we don't do that as a people, what don't
we do and those who are training their kids to
do that, but as the majority where that. Okay, I
can take it, babe, I can take it. I can
take it. This is time and time. I just want
you to give it to me straight and forward. Don't
don't sugarcoat and give it to me. Hey man, I
want to thank you for coming on the show. I
(07:44):
appreciate it. This is Steve Harvest Saturdays. We just hit
our brakes for a minute and it was what time
and time. I appreciate you dropping in on time of time.
Thank you Mr Williams the African American banker. Appreciate your
brother all right much any time
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Bobby Bones Show
Listen to 'The Bobby Bones Show' by downloading the daily full replay.