August 30, 2023 • 30 mins
JaLisha is Thread Capital’s director of lending and client support. She leads Thread Capital’s loan origination, coaching, connections, and customer service efforts, with the goal of executing Thread Capital’s mission of strengthening entrepreneurship and expanding access to capital for small businesses in North Carolina. She is a Durham native and enjoys filling unclaimed time with traveling, pretending to exercise on social media, and binge-watching TV with Garrett and two dogs, Jim Bean and Dacarius.
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Episode Transcript
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Speaker 1 (00:03):
Good morning, good afternoon, and good evening. Whenever you're tuning in,
you're live with Chiesa Penix Brown. I'm the chief curator
at Give It to the People, and we do Give
It to the People live to focus on mental wealth
for women owned businesses and bipop businesses, helping you get
your mind and your money right. Yes, hello everybody. I
hope you guys are having a beautiful day. It's a
(00:24):
beautiful day in Zimonda slash wherever I'm at today, and
so I want to just say hi to you because
it's Women's History Month and you know the biggest thing
this month, I wanted to make sure that we had
some powerhouse women on. So you know, we are just
kicking this month off with some awesome women that do
wonderful things in the community for their businesses, for their
(00:46):
organizations and people that can help benefit you. So I
don't want to go into a long spield, but I'm
going to tell you what we do. So I'm Chiesa
Penix Brown. I'm the chief curator at Give It to
the People, which is a mental wealth company. So we
focus on getting your mind right and your money right.
We do a bunch of different curated conferences so that
we can bring all of the knowledge and expertise to you.
(01:08):
And you know, we help people with their content and
we also teach training classes. This particular thing that we're
doing here is give it to the people live, which
is a podcast, and so we show it to you
live on the screen, and then we also take it
and we put it into an audio podcast as well,
so that this way, if you couldn't watch it live,
it is okay because you can always go back and
listen to the podcast. And so today our guest is
(01:30):
coming up really quickly, Jalicia, and she is from a
wonderful company called Thread Capital, and so I want her
to just go ahead and introduce herself because she's doing
such great things in the community. Thank you Jesus for
having me today. So once again, I'm Julisia Richmond. I'm
the director of Lending and Client Supports at Thread Capital.
We are a nonprofit based in Raleigh, but we call
(01:52):
cover the entire North Carolina. We provide small business loans
for anyone looking to start or expand the business in
North Carolina. Those loans can range anywhere from five hundred
dollars up to one hundred thousand dollars just depending on
the size and use of your business. We'll kind of
go into more other qualifications later, but yeah, definitely excited
to be here, definitely, And so that's already. We just
(02:15):
have to start right there because I think the biggest
thing that you said was actually the smallest thing. You said,
loans of five hundred dollars on up right, And you
do not find traditional banks trying to give you five
hundred dollars, right, You can't. I mean you might not
even be able to ask a family member for five
hundred dollars, right, So when you look at saying something
(02:35):
like that, how impactful is it that you're able to
make basically these micro loans to people. Yeah, So that's
our overall goal is to fill the gaps created by
traditional linding being able to help our small business owners
wherever they are. A lot of times, if you go
to a bank and you may need a five hundred
dollars loan, their minimum amount might be fifteen hundred and
(02:55):
I don't need that much capital. So we want to
help our small businesses and not over leverage them. I'm
giving them what they need to help them grow and
maintain their business. So we understand that sometimes five hundred
dollars is what's needed. We have had clients that needed
that amount and we're able to fill that gap. So
it's very impactful. Yeah. And then with something like that,
(03:18):
what's the timeframe to pay back? You know? Alon typically Yeah,
so our max long term is six years for a
five hundred dollars a loan, we will not turn it
out over six years. A five hundred dollar loan, we
typically do less than a year. But basically what we
look for is what the business can cash flow to
make sure that it is sustainable for you. We typically
(03:40):
do like our working capital loan, so those loans that
are just cash to the borrow up to twenty four
months depending on the size of the loan. But our
biggest thing is making sure that we're not over leveraging
the small business owner or the business and they can
maintain themselves as well as this business loan. Now, when
you look at that, you just talk about not being
(04:01):
over leveraged, and you talk about looking at the cash
flow statements. I think a lot of times when people
start business, they're not necessarily familiar with all the terms, right,
So knowing what the cash flow statement is and you
know everything else that goes into the record keeping portion.
A lot of them may not have that, and so
do you do anything to kind of help them get that,
you know, the paperwork that's necessary. Because one of my
(04:23):
coin terms that I like to coin like during the
whole entire pandemic time was get your paperwork together, to
make your paperwork right. And so for me that was
always an important thing because when I looked at so
many people that were trying to get loans or were
trying to get grants, they didn't have the paperwork together,
and so that then made the process so much longer.
But that was their fault for not having the paperwork together.
(04:44):
So do you do any type of you know, do
you give them some forms or do you have like
any training or anything like that where they can understand
the forms that they need to have to give to you. Yeah,
So we do three things. So we do the capital piece,
which is what I always talk about. First. We also
do coaching and connections. A lot of times that coaching
piece is during the loan process, so helping them understand
(05:06):
those the paperwork pieces that we need. We do have
templates that can help the small business owner, and then
if they need more coaching or more assistance, we connect
them to other nonprofits in the area that can assist
them when it comes to that accounting part. We understand
in a lot of time, the small business owners that
we work with know how to work in the business
(05:28):
and not all the time on the business. So what
we're here to do is help you work on the
business and then connect you to those folks that can
help you work on the business as well. Yeah, and
I think that's a great thing because you know, like
I have an accountant, and I just don't even know
what I would do without my accountant because I do
not want to do that part, you know what I'm saying.
I like to make the money, I like to deposit
the money. Those are my favorite things. But actually just
(05:50):
doing the rest of the paperwork, so it's just like
give that to the person who's really good at it.
And I think that it does make a big difference,
you know. Like I remember when I got my first statement,
I was like, oh, look at all of my numbers. Hey,
numbers right, And it was just kind of one of
those things that as I think a business owner, it
makes you feel empowered because you can see everything, you know,
(06:10):
like on one sheet and you can really see like where
you're doing well and where you need to improve. So
with your business owners, you know, I'm sure that there's
a whole lot of different people that you're able to serve.
But who is kind of like typically the business owner,
what type of business typically comes to you in order
to get capital? Yeah, so a lot of times we
work with those lifestyle businesses. So that would be your beauticians,
(06:32):
your landscapers, your home cleaners, So those are a part
of our small business owners. We also have restaurant owners.
We typically can work with anyone who can utilize less
than one hundred thousand dollars amount and fill that gap.
But a lot of times those are those lifestyle businesses
and helping them understand this they are business owners. Sometimes
(06:53):
it's say like oh, I just cut hair or I
just cut grass, and it's like, but you own the
business to help them understand that piece in the process. Yeah, definitely,
because we were at an event together and there was
a person who seemed a little bit confused at the
event in regards to them, you know, having a license
to be a beautician, which you know, in essence if
(07:14):
you are practicing and you're doing the business, then you know,
you are ten ninety nine right essentially, like you're taking
care of your own thing. But if you didn't go
through the process to file the taxes, then that's where
one of those processes, you know, it just kind of
slipped through the cracks. And I know some people you
know are actually working for other people where maybe they're
getting tips, and you know, I mean, it's a whole
(07:36):
bunch of different things that go into that. But if
more people understood the business side of things, I think
that that would be really really important. And so that's
an interesting thing that you that you know that you
brought that up, because we're going to be doing a
beauty business summit at Alamans Community College coming up March sixteenth,
and one of the points of that is to really
say to people understand that once you graduate, you are
(07:59):
in business for your self, and you need to act
like you're in business, and so there are things that
you need to kind of take into consideration. Now, this
is a question that I know I didn't even ask you,
but I have to just throw it at you. Have
you found an uptick in people utilizing some of the
online systems like cash app and those kind of things,
you know, so that this way they can get their money,
(08:19):
you know, like I mean, and I'm just saying that
in relation to you know, PayPal has already been there, right,
and you have Stripe and you have Square and stuff.
But I've been seeing a lot more people use cash app,
specifically when they're lifestyle businesses. Yeah, so I think a
lot of times though technology is growing that helps you
access your capital a little bit faster. So we do
(08:41):
see a lot of those systems being used in traditional business.
The technology has also done some work to give out
those bank statements help you with those financials. A lot
of them are trying to do it a lot in house,
so they'll not only take in your funds, but they'll
also say we can help you create these documents. So
(09:02):
technology has changed in that space, and they're even like
trying to get into the lending space as well. But
I would say that you should be careful with that
and knowing the rates behind the loans that you're taking
because a lot of times they're hidden fees and things
of that nature. So making sure that you're informed in
that process. Yeah, and that's an important thing now with
if they're going to go with thrank capital. Is there
(09:22):
a set interest rate or does that interest rate vary
based on the loans that you're giving out? So our
loans have a set interest rate. Our interest rate is
ten point nine to nine percent for all of our loans. Okay, Now,
would you say that's higher or lower than like the
industry average? Yeah, so it is in terms of the
industry average and the risks that we're taking. So most people,
(09:43):
some people say WHOA when I say that, and they're
typically looking at the mere fact of like home loans
things of that nature, where the loans are a lot
larger than the terms are a lot longer. And then
also if you're looking even at like auto loans, the
collateral behind mind it is more secure. Our loans are
(10:04):
not in that space. So the amount of risk that's
taken is determined on our interest rate. Okay, all right, now,
do people have to have collateral when they come to
you to get loans? No. So one of our things
that I did not mention is our key audience are
black of our entrepreneurs, women, low the matter income individuals,
and rule individuals. So a lot of times we understand
(10:25):
that they may not have assets, which is part of
the system that we live in, so we don't require
that you have assets. What we do look at is
try to term it towards the loan. So if you're
looking for one hundred thousand doll loan and you do
have collateral, we will look at that. For those smaller loans,
we're not requiring collateral, But for all of our loans,
what we do is we require what's called a UCC
(10:48):
or a Universal Commercial Code document that just basically says
that your business assets are used to collateral on this loan,
so that loan is secured. Okay, we get the individual
on what they own as collateral, okay. And then when
you talk about the assets of the business, are these
startup businesses or they've been in business for six months,
(11:09):
a year, two years, three years, what's usually the average
that goes along with that? Because if I'm just starting,
i might not have any money yet, So what's that
process like. Yeah, so we still would do with the startup,
we would still do that UCC because it's not directly
tied to the access that you currently have. It's just
saying that if something happens to the business, collateral is
(11:30):
a secondary source of repayment. So we're saying that any
assets that you secure over this time, it can be used. Okay,
we're doing the trucking loan, and we can use that
truck as collateral. So we do it for all of
our loans, and it just depends on what the size
of a business is and the assets that they have.
(11:51):
I would just imagine that this is really a great thing.
And I just want to commend you because Kelly Barber
over at Halifax Community College loves y'all, loves y'all to
and when I'm telling you, Kelly was like, listen, thread Capital,
they lend to my people out here in the rural communities, right.
And so I personally love the fact that not only
(12:11):
are you in the big city. You know how people
the big city, right, but you do go to those
rural communities and you are able to educate them. And
so for people that don't know, Jalisha is going to
be joining us on the twenty fifth at the Women's
Business Summit that's at Halifax, and so you guys will
get to meet her in person that day. What is
the most rewarding thing about being in person and being
(12:35):
able to talk to people because we've been in the
covids for so long, right, so what does it feel better?
Is it different? You know? Do people ask different questions?
I think it's it's definitely different. It's a more personal effect,
so I get a lot more questions. Just the fact
that people online they just kind of even if their
cameras are on, they kind of disconnect. So the best
(12:57):
thing is like being in presson being able to answer
those questions and helping people feel comfortable. A lot of
times banking is scary. Accounting is scary. We've all been
taught different things, and a lot of times people are
not comfortable in that space. So I do enjoy the
fact of being able to go out into those communities
to show that we're here to support and not only
(13:18):
to support in that capital space, but saying Okay, cash
may not be what you need right now, what connections
do you need? I could be a part of your team.
Doing that for our small business owners is a key
piece because a lot of times they are siloed, and
we don't want them to be siloed. And then even
the point about being got in real communities. Our lending
is based out of the North Carolina Rural Center, which
(13:40):
is a thirty five year old organization that's done economic
development in the rural counties. Right now is seventy eight
real counties. So we'll always have a focus on that space,
making sure that we go out and we're reaching the
people in the communities. We don't want to just be
the folks in the big city, the folks in Riley
that never go out. So we travel all the time.
We're always are over the place making sure that you
(14:01):
know that we're not just that we're part of the
communities that we want to see our impact. And I
actually love to go out into the community cause I
can visit my small business owners where they are comfortable.
So not just making them come into the seminar and
come into the class and then talk to me about business,
which could be scary. But I may come to your restaurant,
I can come visit your salona if you have a store.
(14:23):
I want to come out to support because that's a
key piece of our connection as well. It's not only
saying I'm here to help, but it's also saying, Okay,
if you need these things, cheet to throw on this
great event, come to this or if you need connections
or you need coaching. Kelly's that the small business in
it and can help you. So a key thing that
I like to do is making sure that we're connectors
(14:43):
and not gatekeepers in this work, making sure that everyone
knows that I know, I do not know everything, but
my goal is to try to learn it so that
I can share it with everyone. Yeah. No, I think
that that's powerful because with your fund, you know specifically,
and I've worked with some other you know, CDFIs and
things throughout the state, and I would just say to me,
(15:04):
yours has been the most accessible. And I think that
some of the barriers that you may have in some
other other areas you know, or other organizations, they it's
not seeming like that's something that's really that big of
a problem for you. So when a person you know,
and I would just imagine, this is the list of
the things that we need you to get. Give us
those things, and then let's go ahead and see what
(15:26):
we can do to help you with your business. What
is the turnaround time? Once the person gives you all
the things you need from you know, that time to
kind of making a decision on okay, well, this is
when we can get you some funding. So overall, it's
typically three to four weeks, so that is from the
time you walk into my door to say, hey, I
need capital, we gather those documents and then we're able
(15:49):
to fund, make a decision and fund your loan within
that three to four week period. I was super excited
because I just did alone and was able to close
it within twenty two days. I made it exactly on
and a lot of times it's having that paperwork to
make you set your paperwork your paper But if you
have your things together, we can move faster because a
lot of time it is gathering your information. So you
(16:13):
seeing those documents over we review it as quick as possible,
and there's sometimes we may need additional things, so gathering
that piece is super key. And they can find all
of the information for what they need to get the
loan on your website. Yeah, and so this way, guys,
it's no excuses. You know. Now. The only thing that
I would say would be a barrier is if you
(16:34):
don't have something, so that means, you know, go ahead
and get it. And I always tell people, listen, go
look to see what the requirements are, and then I
tell them, please have your stuff in a digital format
and then also have it in your hand, because then
this way it makes it easy. And I also tell
people say things as PDFs because then when you go
to send it, like that's the necessity. And like going
(16:55):
through COVID and just seeing you know, from the back
end of certain things, it was people that didn't know
how to save stuff as a PDF, right, and so
it was a lot of like, Okay, then you actually
even have to train people on that. So a lot
of times with the technology, we want to assume people
know things, but they don't always know things, and so
something as simple as that could be the barrier as
to why a person didn't know or didn't upload something.
(17:18):
And so it does make a difference, especially when you
need a completed package in order to be able to
go and do your part of things. Now, we had
a comment that said being in person makes a huge
difference and share the wealth we can all eat. Okay,
you better give us that comment, Parry, I want to hear.
So yeah, so they're loving it. So the biggest thing
I would say is I want to know about a
(17:39):
success story that you had. You know, somebody that came
in because you mentioned being able to go see what
they do. Who's been and you don't have to tell
us their name unless you want to. But what's been
one of the most successful stories that you've had with
lending so far? So it always ranges because it depends
on like the small business owner and what their goal is.
One of my favorite is like one of our things
(18:00):
we like to do because one of the things you
were talking about is we're accessible. When we look at
the lending ladder. Sometimes banks and things are a lot higher.
Sometimes our clients are not even at the ladder at all,
so they're on the ground steal and our goal is
to kind of help them climb that ladder and then
also understand that there is a ladder and helping them
on that process. So some of my favorite clients are
(18:23):
those that come into the process. They're trying to start
a business. They don't know where to like, they have
a business idea, they don't have the capital for, they
don't have an uncle that can give them that loan.
They've been told Noah a couple of times. They go
to the bank, the bank says no so they come
to us, and then even just talking on the phone
with them, they're able to say I can say, okay,
(18:46):
this is we might can't do it right now, but
if you work on these things, we can get you
to where you need to be. Walking them through that
part just to hear their voice light up. When I
can say like, okay, we can do that. We can
do a smaller loan to help them. So I have
clients that return to us in process. So sometimes we'll
start with a smaller loan. We may start with the
twenty five hundred dollars loan. They get that loan, we
(19:09):
help them grow, they come back. So that I have
one business who was a cleaning business. He originally had
a loan from another lender to do her to do
her business, but she didn't know she needed additional worker insurance.
So she had to get that piece and it was
(19:30):
only I think it was one thousand dollars, and everyone
that she was trying to get a thousand dollars from
was like, we can't do that. So I was able
to help her get that thousand dollars loan to keep
her contract. She had a government contract and she needed
the insurance to happen with the end. So this is
one of the time I was able to do a long
faster than that three weeks. We were able to get
it done like a week and a half. So we
(19:54):
got her the thousand dollars loan so that she can
pay her insurance premium and then she was able to
finish that contract. In that process, it was learning about
like what is a P and L, what is a
cash flow statement? What are the things that I need
for this business? Fast forward two years later, she was
able to return to US for twenty thousand dollars long
(20:15):
because she was looking to buy a truck a band
to like haul her equipment. Doing that piece was like, Okay,
look at you grow and helping them in that process
and being a part of that process, knowing that yes,
we can help you start, we can help you grow.
And it's sometimes we even have to send them to
a partner saying like they need more than nine hundred
thousand dollars. They're trying to buy a business, a building,
(20:37):
they're trying to buy a piece of equipment that's outside
of our space, and that's the them in that space.
Now that's great because I mean that right there. Okay,
so year, let's just say one, right year one, we're
at one thousand dollars two years later, now we're sitting here.
We can get twenty thousand, but our business warranted like
that's an amazing story. So I think just that, you know,
(20:58):
because I've been really focused on specifically this year, you know,
incremental growth, because I think that and I'm just talking
about me. I can't speak for anybody else, but you know,
in the past, I think sometimes you want it so much,
like you wanted to grow so fast, you wanted to
do all the things. And then when you start to
really focus on your capacity and really say, well, listen,
how about I don't do all the things, but I
(21:20):
do these things, and let me just do these things
really well and it doesn't have to be so big.
And so this year my word was achievement, and so
I've been celebrating every achievement like you don't even understand.
I'm like, oh, yeah, I did that right. And it's
something so simple, like I send an email, but I'm like, whoa,
that email is done right. And so I think that
a lot of times with business, you know, we want
(21:42):
to get to that big number, but you might need to,
you know, just focus on the smaller things right now
and then continue to grow. And so that's a great
story of being able to do that. And especially if
you can get a government contract, you know, unless you
mess it up, you usually are going to be able
to get another one. So that's an important thing. But
I think that you brought up an important factor when
you talked about like things that people don't think about,
(22:03):
like insurance, right, or some people may need to be
licensed and bonded, you know, I mean, And so it's
so many other little pieces depending on what you're doing
for business, that you might overlook and it might only
cost a little bit in the big scope of things,
but if you don't have it, it's a lot, right,
and so you being able to fill that gap is
definitely an important factor for businesses. I love that. Now
(22:25):
let's transition a little bit because we are both on
the Durham team for Black Wall Streetforward, and so we're
going to be talking about money mindset, right. And so
with this experience, you've been able to meet some new people.
What do you say is like your best part of
being a part of this initiative? I think meeting new people.
(22:46):
So one of the things that I've been trying to
do is network so that we can have those resources
for our small business owners, so looking at meeting new
folks as well as connecting with them and seeing how
the best play into their work. One of the things
you said, it's like, I don't want to be able
to do everything. I'm okay being that the lending force
and then saying, Okay, this person's over here doing Black
(23:08):
Wall Street. They're doing that. CHISA can do really well
at event planning. So being able to build out that
collaboration and building out that ecosystem and supporting that ecosystem
is super important to me. And I loved that piece
of working with Like the Black Wall Street Council is
helping to build out my ecosystem in Durn, Yeah, and
I'm in it at the same time. I would just
imagine you are literally all over the place, Like Jalicia
(23:30):
will send you a message and be like, yirl, I'm
in Timbunk to North Carolina, and then the next day,
but next next week, and then you know, when you
send her a message, she'd be like, I'm out of
the office until this time, and I'm like that girl
stays moving right, And so I would just imagine you've
seen so many parts of North Carolina, and you know,
as what's your favorite part of your job. I think
(23:53):
being able to see that. Like so the reason I
travel is one, like I told my supervisor when I
first when he first started, I don't want to be
in the office. I want to be able to see
the small businesses where they are. Like the paperwork part,
I do it just because it needs to be done
for the organization. I want to be able to see
those folks that I'm assisting. I want to be able
to see them grow. I want to be able to
(24:14):
see their business transition. So I travel a lot, even
though it makes it harder for me to do my work.
I put in that commitment to travel so that I
can see the work and always be inspired, like small
business owners are inspiring to me. I will support you
to the day I die. But I do not want
to be a small business owner. So in that space,
(24:34):
what I do is like I try to figure out
what are their needs. And I understand that like North
like northeast North Carolina, is a lot different than central
North Carolina and different from like the western part of
North Carolina. So you have to be in those areas
to know that and to build that trust and build
those relationships. So I intentionally do that piece to get
our name out there as well, because people don't know
(24:55):
about our turn to funding sources like Thread Capital. So
my goal is to get out there to show that
we can do this work and also that, like we
talked about women, there's not a lot of women in
my role, there's not a lot of African Americans in
my role. So going out and showing that we can
support in this space and then folks that look like
you can do this because that also makes people a
lot more comfortable seeing folks that look like them doing
(25:17):
the work. So I'm very intention about that place of
going out being the voice, being able to learn what
they need to share that with them. Yeah. Well, what
I've seen is and I've only seen so now from
your team that I know three people, all of them
are dynamic women, right, and so you know, does it
make it easier on your team to work with other
(25:38):
women and then also to work with other minority women. Yes.
So what we've tried to do and what we try
to make our team too large, but what we want
to do is make our team reflect the communities that
we're working in. So our team is very diverse because
one that helps our clients know that we're here to support,
(25:58):
not saying that if your specific demographic is not on
our team, we're not willing to help that demographic. But
having folks that look like you definitely impacts your usage
to the organization. So we try to do that piece
of making sure that we're supporting those that need the support.
We don't want to just say that we lend in
(26:19):
our turn space and then we're not hitting that community.
The key piece of that is looking like the community
that you want to support. Yeah, And I think that's
important because a lot of times when you think of lending,
you typically think of white men. And it's nothing wrong
with that, because if they gonna give you the money,
then they gonna give you the money, right. But at
the same time, I just in my experience, I've noticed
that people that are not a part of the community
(26:41):
often don't understand certain businesses and necessity and the importance
of certain things. So it may seem like it's something
that's an ancillary thing, but no, it's a really important
thing when it comes to the community, and just understanding
that does make a huge difference. And so I love
that because you know, being able to reflect that community
means that it does make people more comfortable. Right now,
(27:02):
we have another comment that says, I love working with
women who look like me. There's something special about having
that first touch point of potential understanding and that is great.
So thank you so much, doctor Manita. She's out here
comment and today, and I mean, it really is an
important factor. I do think it definitely makes people feel
like they can approach you right like it feels more comfortable,
all right. So with that, if you want to leave
(27:25):
people they've never heard about three capital, they want to
meet you now that they've heard about this, and you
want to leave them with a last idea or a
thought or you know, just something to make people feel good.
So it could be motivational. I don't know, feel like,
whatever you want to say, what would that thing be
for our aspiring and our current business owners. I think
the thing I would say is you don't have to
(27:47):
know it all. We want to be your connector we
want to be a part of your process. So we're
always here to assist. If it's questions about capital or connections,
we're here to just reach out to us. Want to
help build out your ecosystem and do that work intentionally.
Oh wow, And I love the way you put that.
She said, we want to build out your ecosystem, and
(28:08):
you know what, that's a really great way to look
at it, because I love the business ecosystem that we
have here in the state as an overall, but just
traveling all over the state, I've been able to see
the same thing as you, that it is very different
in different parts and that connectivity that you have to
those resources does make a huge difference in you being
and I'm saying you as in you individual business owner,
(28:29):
you individual entrepreneur, being able to access things because we
have not because we know not. If you don't know
it even exists, then how you know? So, like, it's
probably plenty of people that are like, wow, I'm so
glad to hear about Thread Capital and the fact that
you can lend throughout the state does mean that now
it gives people more access to things that they didn't
think about. So where can people find you if they're
(28:50):
saying give me some money, Jalisha, Yes, So, our website
is thread Capsule, thhr EA, d CAAP. We're also on
Instagram and social media, all of it under thread Capital
as well. And then my email is Jillysha, so my
first name at threadcap dot org. Please reach out and
(29:11):
I can get to where you need to be. Yes,
I love that. I love that all right. So we
will see each other really soon on the eighteenth when
we do our event, and so I'm excited and looking
forward to that, and so everybody, if you're interested in
finding out more about that event, you can go to
event bright and you can type in black Wall Street forward.
I have it on my website and give it to
(29:32):
the people dot com and it's gonna definitely it's already
over social media, but you can definitely look forward all
over social media and you'll see our little brown faces
up there smiling waiting to welcome you on the eighteenth,
and so join us on that date at the NC
Mutual Building in Durham, North Carolina, and we're going to
be doing that event our black Wall Street Mindset from
eleven until two. It is free and open to the public,
(29:55):
and we would love to have you come out and
then you can meet us individually, you can meet our
whole council, and then you can see how you can
get involved in a little bit more business for your business,
right because we have all of those connections. So, Julia,
thank you so much for being on today. I appreciate
you and everything that you're doing, all of your efforts,
and so we'll be talking more and we'll be making
(30:15):
some more announcements, but we can't tell everybody everything. Yes,
we're making some more announcements sometime soon. Already, thank you, yes,
all right, everybody, make sure that you always show up
and show out and continue to give It to the People. Bye, guys, y,
thank you so much for tuning in to another episode
of Give It to the People Live. We're here to
help you with your mental wealth. And if you're looking
(30:35):
for future events, you're looking for past podcast episodes, you're
looking for our webinars or anything that can help you
grow your business acumen, make sure that you visit give
It to the People dot com
Good morning, good afternoon, and good evening. Whenever you're tuning in,
you're live with Chiesa Penix Brown. I'm the chief curator
at Give It to the People, and we do Give
It to the People live to focus on mental wealth
for women owned businesses and bipop businesses, helping you get
your mind and your money right. Yes, hello everybody. I
hope you guys are having a beautiful day. It's a
(00:24):
beautiful day in Zimonda slash wherever I'm at today, and
so I want to just say hi to you because
it's Women's History Month and you know the biggest thing
this month, I wanted to make sure that we had
some powerhouse women on. So you know, we are just
kicking this month off with some awesome women that do
wonderful things in the community for their businesses, for their
(00:46):
organizations and people that can help benefit you. So I
don't want to go into a long spield, but I'm
going to tell you what we do. So I'm Chiesa
Penix Brown. I'm the chief curator at Give It to
the People, which is a mental wealth company. So we
focus on getting your mind right and your money right.
We do a bunch of different curated conferences so that
we can bring all of the knowledge and expertise to you.
(01:08):
And you know, we help people with their content and
we also teach training classes. This particular thing that we're
doing here is give it to the people live, which
is a podcast, and so we show it to you
live on the screen, and then we also take it
and we put it into an audio podcast as well,
so that this way, if you couldn't watch it live,
it is okay because you can always go back and
listen to the podcast. And so today our guest is
(01:30):
coming up really quickly, Jalicia, and she is from a
wonderful company called Thread Capital, and so I want her
to just go ahead and introduce herself because she's doing
such great things in the community. Thank you Jesus for
having me today. So once again, I'm Julisia Richmond. I'm
the director of Lending and Client Supports at Thread Capital.
We are a nonprofit based in Raleigh, but we call
(01:52):
cover the entire North Carolina. We provide small business loans
for anyone looking to start or expand the business in
North Carolina. Those loans can range anywhere from five hundred
dollars up to one hundred thousand dollars just depending on
the size and use of your business. We'll kind of
go into more other qualifications later, but yeah, definitely excited
to be here, definitely, And so that's already. We just
(02:15):
have to start right there because I think the biggest
thing that you said was actually the smallest thing. You said,
loans of five hundred dollars on up right, And you
do not find traditional banks trying to give you five
hundred dollars, right, You can't. I mean you might not
even be able to ask a family member for five
hundred dollars, right, So when you look at saying something
(02:35):
like that, how impactful is it that you're able to
make basically these micro loans to people. Yeah, So that's
our overall goal is to fill the gaps created by
traditional linding being able to help our small business owners
wherever they are. A lot of times, if you go
to a bank and you may need a five hundred
dollars loan, their minimum amount might be fifteen hundred and
(02:55):
I don't need that much capital. So we want to
help our small businesses and not over leverage them. I'm
giving them what they need to help them grow and
maintain their business. So we understand that sometimes five hundred
dollars is what's needed. We have had clients that needed
that amount and we're able to fill that gap. So
it's very impactful. Yeah. And then with something like that,
(03:18):
what's the timeframe to pay back? You know? Alon typically Yeah,
so our max long term is six years for a
five hundred dollars a loan, we will not turn it
out over six years. A five hundred dollar loan, we
typically do less than a year. But basically what we
look for is what the business can cash flow to
make sure that it is sustainable for you. We typically
(03:40):
do like our working capital loan, so those loans that
are just cash to the borrow up to twenty four
months depending on the size of the loan. But our
biggest thing is making sure that we're not over leveraging
the small business owner or the business and they can
maintain themselves as well as this business loan. Now, when
you look at that, you just talk about not being
(04:01):
over leveraged, and you talk about looking at the cash
flow statements. I think a lot of times when people
start business, they're not necessarily familiar with all the terms, right,
So knowing what the cash flow statement is and you
know everything else that goes into the record keeping portion.
A lot of them may not have that, and so
do you do anything to kind of help them get that,
you know, the paperwork that's necessary. Because one of my
(04:23):
coin terms that I like to coin like during the
whole entire pandemic time was get your paperwork together, to
make your paperwork right. And so for me that was
always an important thing because when I looked at so
many people that were trying to get loans or were
trying to get grants, they didn't have the paperwork together,
and so that then made the process so much longer.
But that was their fault for not having the paperwork together.
(04:44):
So do you do any type of you know, do
you give them some forms or do you have like
any training or anything like that where they can understand
the forms that they need to have to give to you. Yeah,
So we do three things. So we do the capital piece,
which is what I always talk about. First. We also
do coaching and connections. A lot of times that coaching
piece is during the loan process, so helping them understand
(05:06):
those the paperwork pieces that we need. We do have
templates that can help the small business owner, and then
if they need more coaching or more assistance, we connect
them to other nonprofits in the area that can assist
them when it comes to that accounting part. We understand
in a lot of time, the small business owners that
we work with know how to work in the business
(05:28):
and not all the time on the business. So what
we're here to do is help you work on the
business and then connect you to those folks that can
help you work on the business as well. Yeah, and
I think that's a great thing because you know, like
I have an accountant, and I just don't even know
what I would do without my accountant because I do
not want to do that part, you know what I'm saying.
I like to make the money, I like to deposit
the money. Those are my favorite things. But actually just
(05:50):
doing the rest of the paperwork, so it's just like
give that to the person who's really good at it.
And I think that it does make a big difference,
you know. Like I remember when I got my first statement,
I was like, oh, look at all of my numbers. Hey,
numbers right, And it was just kind of one of
those things that as I think a business owner, it
makes you feel empowered because you can see everything, you know,
(06:10):
like on one sheet and you can really see like where
you're doing well and where you need to improve. So
with your business owners, you know, I'm sure that there's
a whole lot of different people that you're able to serve.
But who is kind of like typically the business owner,
what type of business typically comes to you in order
to get capital? Yeah, so a lot of times we
work with those lifestyle businesses. So that would be your beauticians,
(06:32):
your landscapers, your home cleaners, So those are a part
of our small business owners. We also have restaurant owners.
We typically can work with anyone who can utilize less
than one hundred thousand dollars amount and fill that gap.
But a lot of times those are those lifestyle businesses
and helping them understand this they are business owners. Sometimes
(06:53):
it's say like oh, I just cut hair or I
just cut grass, and it's like, but you own the
business to help them understand that piece in the process. Yeah, definitely,
because we were at an event together and there was
a person who seemed a little bit confused at the
event in regards to them, you know, having a license
to be a beautician, which you know, in essence if
(07:14):
you are practicing and you're doing the business, then you know,
you are ten ninety nine right essentially, like you're taking
care of your own thing. But if you didn't go
through the process to file the taxes, then that's where
one of those processes, you know, it just kind of
slipped through the cracks. And I know some people you
know are actually working for other people where maybe they're
getting tips, and you know, I mean, it's a whole
(07:36):
bunch of different things that go into that. But if
more people understood the business side of things, I think
that that would be really really important. And so that's
an interesting thing that you that you know that you
brought that up, because we're going to be doing a
beauty business summit at Alamans Community College coming up March sixteenth,
and one of the points of that is to really
say to people understand that once you graduate, you are
(07:59):
in business for your self, and you need to act
like you're in business, and so there are things that
you need to kind of take into consideration. Now, this
is a question that I know I didn't even ask you,
but I have to just throw it at you. Have
you found an uptick in people utilizing some of the
online systems like cash app and those kind of things,
you know, so that this way they can get their money,
(08:19):
you know, like I mean, and I'm just saying that
in relation to you know, PayPal has already been there, right,
and you have Stripe and you have Square and stuff.
But I've been seeing a lot more people use cash app,
specifically when they're lifestyle businesses. Yeah, so I think a
lot of times though technology is growing that helps you
access your capital a little bit faster. So we do
(08:41):
see a lot of those systems being used in traditional business.
The technology has also done some work to give out
those bank statements help you with those financials. A lot
of them are trying to do it a lot in house,
so they'll not only take in your funds, but they'll
also say we can help you create these documents. So
(09:02):
technology has changed in that space, and they're even like
trying to get into the lending space as well. But
I would say that you should be careful with that
and knowing the rates behind the loans that you're taking
because a lot of times they're hidden fees and things
of that nature. So making sure that you're informed in
that process. Yeah, and that's an important thing now with
if they're going to go with thrank capital. Is there
(09:22):
a set interest rate or does that interest rate vary
based on the loans that you're giving out? So our
loans have a set interest rate. Our interest rate is
ten point nine to nine percent for all of our loans. Okay, Now,
would you say that's higher or lower than like the
industry average? Yeah, so it is in terms of the
industry average and the risks that we're taking. So most people,
(09:43):
some people say WHOA when I say that, and they're
typically looking at the mere fact of like home loans
things of that nature, where the loans are a lot
larger than the terms are a lot longer. And then
also if you're looking even at like auto loans, the
collateral behind mind it is more secure. Our loans are
(10:04):
not in that space. So the amount of risk that's
taken is determined on our interest rate. Okay, all right, now,
do people have to have collateral when they come to
you to get loans? No. So one of our things
that I did not mention is our key audience are
black of our entrepreneurs, women, low the matter income individuals,
and rule individuals. So a lot of times we understand
(10:25):
that they may not have assets, which is part of
the system that we live in, so we don't require
that you have assets. What we do look at is
try to term it towards the loan. So if you're
looking for one hundred thousand doll loan and you do
have collateral, we will look at that. For those smaller loans,
we're not requiring collateral, But for all of our loans,
what we do is we require what's called a UCC
(10:48):
or a Universal Commercial Code document that just basically says
that your business assets are used to collateral on this loan,
so that loan is secured. Okay, we get the individual
on what they own as collateral, okay. And then when
you talk about the assets of the business, are these
startup businesses or they've been in business for six months,
(11:09):
a year, two years, three years, what's usually the average
that goes along with that? Because if I'm just starting,
i might not have any money yet, So what's that
process like. Yeah, so we still would do with the startup,
we would still do that UCC because it's not directly
tied to the access that you currently have. It's just
saying that if something happens to the business, collateral is
(11:30):
a secondary source of repayment. So we're saying that any
assets that you secure over this time, it can be used. Okay,
we're doing the trucking loan, and we can use that
truck as collateral. So we do it for all of
our loans, and it just depends on what the size
of a business is and the assets that they have.
(11:51):
I would just imagine that this is really a great thing.
And I just want to commend you because Kelly Barber
over at Halifax Community College loves y'all, loves y'all to
and when I'm telling you, Kelly was like, listen, thread Capital,
they lend to my people out here in the rural communities, right.
And so I personally love the fact that not only
(12:11):
are you in the big city. You know how people
the big city, right, but you do go to those
rural communities and you are able to educate them. And
so for people that don't know, Jalisha is going to
be joining us on the twenty fifth at the Women's
Business Summit that's at Halifax, and so you guys will
get to meet her in person that day. What is
the most rewarding thing about being in person and being
(12:35):
able to talk to people because we've been in the
covids for so long, right, so what does it feel better?
Is it different? You know? Do people ask different questions?
I think it's it's definitely different. It's a more personal effect,
so I get a lot more questions. Just the fact
that people online they just kind of even if their
cameras are on, they kind of disconnect. So the best
(12:57):
thing is like being in presson being able to answer
those questions and helping people feel comfortable. A lot of
times banking is scary. Accounting is scary. We've all been
taught different things, and a lot of times people are
not comfortable in that space. So I do enjoy the
fact of being able to go out into those communities
to show that we're here to support and not only
(13:18):
to support in that capital space, but saying Okay, cash
may not be what you need right now, what connections
do you need? I could be a part of your team.
Doing that for our small business owners is a key
piece because a lot of times they are siloed, and
we don't want them to be siloed. And then even
the point about being got in real communities. Our lending
is based out of the North Carolina Rural Center, which
(13:40):
is a thirty five year old organization that's done economic
development in the rural counties. Right now is seventy eight
real counties. So we'll always have a focus on that space,
making sure that we go out and we're reaching the
people in the communities. We don't want to just be
the folks in the big city, the folks in Riley
that never go out. So we travel all the time.
We're always are over the place making sure that you
(14:01):
know that we're not just that we're part of the
communities that we want to see our impact. And I
actually love to go out into the community cause I
can visit my small business owners where they are comfortable.
So not just making them come into the seminar and
come into the class and then talk to me about business,
which could be scary. But I may come to your restaurant,
I can come visit your salona if you have a store.
(14:23):
I want to come out to support because that's a
key piece of our connection as well. It's not only
saying I'm here to help, but it's also saying, Okay,
if you need these things, cheet to throw on this
great event, come to this or if you need connections
or you need coaching. Kelly's that the small business in
it and can help you. So a key thing that
I like to do is making sure that we're connectors
(14:43):
and not gatekeepers in this work, making sure that everyone
knows that I know, I do not know everything, but
my goal is to try to learn it so that
I can share it with everyone. Yeah. No, I think
that that's powerful because with your fund, you know specifically,
and I've worked with some other you know, CDFIs and
things throughout the state, and I would just say to me,
(15:04):
yours has been the most accessible. And I think that
some of the barriers that you may have in some
other other areas you know, or other organizations, they it's
not seeming like that's something that's really that big of
a problem for you. So when a person you know,
and I would just imagine, this is the list of
the things that we need you to get. Give us
those things, and then let's go ahead and see what
(15:26):
we can do to help you with your business. What
is the turnaround time? Once the person gives you all
the things you need from you know, that time to
kind of making a decision on okay, well, this is
when we can get you some funding. So overall, it's
typically three to four weeks, so that is from the
time you walk into my door to say, hey, I
need capital, we gather those documents and then we're able
(15:49):
to fund, make a decision and fund your loan within
that three to four week period. I was super excited
because I just did alone and was able to close
it within twenty two days. I made it exactly on
and a lot of times it's having that paperwork to
make you set your paperwork your paper But if you
have your things together, we can move faster because a
lot of time it is gathering your information. So you
(16:13):
seeing those documents over we review it as quick as possible,
and there's sometimes we may need additional things, so gathering
that piece is super key. And they can find all
of the information for what they need to get the
loan on your website. Yeah, and so this way, guys,
it's no excuses. You know. Now. The only thing that
I would say would be a barrier is if you
(16:34):
don't have something, so that means, you know, go ahead
and get it. And I always tell people, listen, go
look to see what the requirements are, and then I
tell them, please have your stuff in a digital format
and then also have it in your hand, because then
this way it makes it easy. And I also tell
people say things as PDFs because then when you go
to send it, like that's the necessity. And like going
(16:55):
through COVID and just seeing you know, from the back
end of certain things, it was people that didn't know
how to save stuff as a PDF, right, and so
it was a lot of like, Okay, then you actually
even have to train people on that. So a lot
of times with the technology, we want to assume people
know things, but they don't always know things, and so
something as simple as that could be the barrier as
to why a person didn't know or didn't upload something.
(17:18):
And so it does make a difference, especially when you
need a completed package in order to be able to
go and do your part of things. Now, we had
a comment that said being in person makes a huge
difference and share the wealth we can all eat. Okay,
you better give us that comment, Parry, I want to hear.
So yeah, so they're loving it. So the biggest thing
I would say is I want to know about a
(17:39):
success story that you had. You know, somebody that came
in because you mentioned being able to go see what
they do. Who's been and you don't have to tell
us their name unless you want to. But what's been
one of the most successful stories that you've had with
lending so far? So it always ranges because it depends
on like the small business owner and what their goal is.
One of my favorite is like one of our things
(18:00):
we like to do because one of the things you
were talking about is we're accessible. When we look at
the lending ladder. Sometimes banks and things are a lot higher.
Sometimes our clients are not even at the ladder at all,
so they're on the ground steal and our goal is
to kind of help them climb that ladder and then
also understand that there is a ladder and helping them
on that process. So some of my favorite clients are
(18:23):
those that come into the process. They're trying to start
a business. They don't know where to like, they have
a business idea, they don't have the capital for, they
don't have an uncle that can give them that loan.
They've been told Noah a couple of times. They go
to the bank, the bank says no so they come
to us, and then even just talking on the phone
with them, they're able to say I can say, okay,
(18:46):
this is we might can't do it right now, but
if you work on these things, we can get you
to where you need to be. Walking them through that
part just to hear their voice light up. When I
can say like, okay, we can do that. We can
do a smaller loan to help them. So I have
clients that return to us in process. So sometimes we'll
start with a smaller loan. We may start with the
twenty five hundred dollars loan. They get that loan, we
(19:09):
help them grow, they come back. So that I have
one business who was a cleaning business. He originally had
a loan from another lender to do her to do
her business, but she didn't know she needed additional worker insurance.
So she had to get that piece and it was
(19:30):
only I think it was one thousand dollars, and everyone
that she was trying to get a thousand dollars from
was like, we can't do that. So I was able
to help her get that thousand dollars loan to keep
her contract. She had a government contract and she needed
the insurance to happen with the end. So this is
one of the time I was able to do a long
faster than that three weeks. We were able to get
it done like a week and a half. So we
(19:54):
got her the thousand dollars loan so that she can
pay her insurance premium and then she was able to
finish that contract. In that process, it was learning about
like what is a P and L, what is a
cash flow statement? What are the things that I need
for this business? Fast forward two years later, she was
able to return to US for twenty thousand dollars long
(20:15):
because she was looking to buy a truck a band
to like haul her equipment. Doing that piece was like, Okay,
look at you grow and helping them in that process
and being a part of that process, knowing that yes,
we can help you start, we can help you grow.
And it's sometimes we even have to send them to
a partner saying like they need more than nine hundred
thousand dollars. They're trying to buy a business, a building,
(20:37):
they're trying to buy a piece of equipment that's outside
of our space, and that's the them in that space.
Now that's great because I mean that right there. Okay,
so year, let's just say one, right year one, we're
at one thousand dollars two years later, now we're sitting here.
We can get twenty thousand, but our business warranted like
that's an amazing story. So I think just that, you know,
(20:58):
because I've been really focused on specifically this year, you know,
incremental growth, because I think that and I'm just talking
about me. I can't speak for anybody else, but you know,
in the past, I think sometimes you want it so much,
like you wanted to grow so fast, you wanted to
do all the things. And then when you start to
really focus on your capacity and really say, well, listen,
how about I don't do all the things, but I
(21:20):
do these things, and let me just do these things
really well and it doesn't have to be so big.
And so this year my word was achievement, and so
I've been celebrating every achievement like you don't even understand.
I'm like, oh, yeah, I did that right. And it's
something so simple, like I send an email, but I'm like, whoa,
that email is done right. And so I think that
a lot of times with business, you know, we want
(21:42):
to get to that big number, but you might need to,
you know, just focus on the smaller things right now
and then continue to grow. And so that's a great
story of being able to do that. And especially if
you can get a government contract, you know, unless you
mess it up, you usually are going to be able
to get another one. So that's an important thing. But
I think that you brought up an important factor when
you talked about like things that people don't think about,
(22:03):
like insurance, right, or some people may need to be
licensed and bonded, you know, I mean, And so it's
so many other little pieces depending on what you're doing
for business, that you might overlook and it might only
cost a little bit in the big scope of things,
but if you don't have it, it's a lot, right,
and so you being able to fill that gap is
definitely an important factor for businesses. I love that. Now
(22:25):
let's transition a little bit because we are both on
the Durham team for Black Wall Streetforward, and so we're
going to be talking about money mindset, right. And so
with this experience, you've been able to meet some new people.
What do you say is like your best part of
being a part of this initiative? I think meeting new people.
(22:46):
So one of the things that I've been trying to
do is network so that we can have those resources
for our small business owners, so looking at meeting new
folks as well as connecting with them and seeing how
the best play into their work. One of the things
you said, it's like, I don't want to be able
to do everything. I'm okay being that the lending force
and then saying, Okay, this person's over here doing Black
(23:08):
Wall Street. They're doing that. CHISA can do really well
at event planning. So being able to build out that
collaboration and building out that ecosystem and supporting that ecosystem
is super important to me. And I loved that piece
of working with Like the Black Wall Street Council is
helping to build out my ecosystem in Durn, Yeah, and
I'm in it at the same time. I would just
imagine you are literally all over the place, Like Jalicia
(23:30):
will send you a message and be like, yirl, I'm
in Timbunk to North Carolina, and then the next day,
but next next week, and then you know, when you
send her a message, she'd be like, I'm out of
the office until this time, and I'm like that girl
stays moving right, And so I would just imagine you've
seen so many parts of North Carolina, and you know,
as what's your favorite part of your job. I think
(23:53):
being able to see that. Like so the reason I
travel is one, like I told my supervisor when I
first when he first started, I don't want to be
in the office. I want to be able to see
the small businesses where they are. Like the paperwork part,
I do it just because it needs to be done
for the organization. I want to be able to see
those folks that I'm assisting. I want to be able
to see them grow. I want to be able to
(24:14):
see their business transition. So I travel a lot, even
though it makes it harder for me to do my work.
I put in that commitment to travel so that I
can see the work and always be inspired, like small
business owners are inspiring to me. I will support you
to the day I die. But I do not want
to be a small business owner. So in that space,
(24:34):
what I do is like I try to figure out
what are their needs. And I understand that like North
like northeast North Carolina, is a lot different than central
North Carolina and different from like the western part of
North Carolina. So you have to be in those areas
to know that and to build that trust and build
those relationships. So I intentionally do that piece to get
our name out there as well, because people don't know
(24:55):
about our turn to funding sources like Thread Capital. So
my goal is to get out there to show that
we can do this work and also that, like we
talked about women, there's not a lot of women in
my role, there's not a lot of African Americans in
my role. So going out and showing that we can
support in this space and then folks that look like
you can do this because that also makes people a
lot more comfortable seeing folks that look like them doing
(25:17):
the work. So I'm very intention about that place of
going out being the voice, being able to learn what
they need to share that with them. Yeah. Well, what
I've seen is and I've only seen so now from
your team that I know three people, all of them
are dynamic women, right, and so you know, does it
make it easier on your team to work with other
(25:38):
women and then also to work with other minority women. Yes.
So what we've tried to do and what we try
to make our team too large, but what we want
to do is make our team reflect the communities that
we're working in. So our team is very diverse because
one that helps our clients know that we're here to support,
(25:58):
not saying that if your specific demographic is not on
our team, we're not willing to help that demographic. But
having folks that look like you definitely impacts your usage
to the organization. So we try to do that piece
of making sure that we're supporting those that need the support.
We don't want to just say that we lend in
(26:19):
our turn space and then we're not hitting that community.
The key piece of that is looking like the community
that you want to support. Yeah, And I think that's
important because a lot of times when you think of lending,
you typically think of white men. And it's nothing wrong
with that, because if they gonna give you the money,
then they gonna give you the money, right. But at
the same time, I just in my experience, I've noticed
that people that are not a part of the community
(26:41):
often don't understand certain businesses and necessity and the importance
of certain things. So it may seem like it's something
that's an ancillary thing, but no, it's a really important
thing when it comes to the community, and just understanding
that does make a huge difference. And so I love
that because you know, being able to reflect that community
means that it does make people more comfortable. Right now,
(27:02):
we have another comment that says, I love working with
women who look like me. There's something special about having
that first touch point of potential understanding and that is great.
So thank you so much, doctor Manita. She's out here
comment and today, and I mean, it really is an
important factor. I do think it definitely makes people feel
like they can approach you right like it feels more comfortable,
all right. So with that, if you want to leave
(27:25):
people they've never heard about three capital, they want to
meet you now that they've heard about this, and you
want to leave them with a last idea or a
thought or you know, just something to make people feel good.
So it could be motivational. I don't know, feel like,
whatever you want to say, what would that thing be
for our aspiring and our current business owners. I think
the thing I would say is you don't have to
(27:47):
know it all. We want to be your connector we
want to be a part of your process. So we're
always here to assist. If it's questions about capital or connections,
we're here to just reach out to us. Want to
help build out your ecosystem and do that work intentionally.
Oh wow, And I love the way you put that.
She said, we want to build out your ecosystem, and
(28:08):
you know what, that's a really great way to look
at it, because I love the business ecosystem that we
have here in the state as an overall, but just
traveling all over the state, I've been able to see
the same thing as you, that it is very different
in different parts and that connectivity that you have to
those resources does make a huge difference in you being
and I'm saying you as in you individual business owner,
(28:29):
you individual entrepreneur, being able to access things because we
have not because we know not. If you don't know
it even exists, then how you know? So, like, it's
probably plenty of people that are like, wow, I'm so
glad to hear about Thread Capital and the fact that
you can lend throughout the state does mean that now
it gives people more access to things that they didn't
think about. So where can people find you if they're
(28:50):
saying give me some money, Jalisha, Yes, So, our website
is thread Capsule, thhr EA, d CAAP. We're also on
Instagram and social media, all of it under thread Capital
as well. And then my email is Jillysha, so my
first name at threadcap dot org. Please reach out and
(29:11):
I can get to where you need to be. Yes,
I love that. I love that all right. So we
will see each other really soon on the eighteenth when
we do our event, and so I'm excited and looking
forward to that, and so everybody, if you're interested in
finding out more about that event, you can go to
event bright and you can type in black Wall Street forward.
I have it on my website and give it to
(29:32):
the people dot com and it's gonna definitely it's already
over social media, but you can definitely look forward all
over social media and you'll see our little brown faces
up there smiling waiting to welcome you on the eighteenth,
and so join us on that date at the NC
Mutual Building in Durham, North Carolina, and we're going to
be doing that event our black Wall Street Mindset from
eleven until two. It is free and open to the public,
(29:55):
and we would love to have you come out and
then you can meet us individually, you can meet our
whole council, and then you can see how you can
get involved in a little bit more business for your business,
right because we have all of those connections. So, Julia,
thank you so much for being on today. I appreciate
you and everything that you're doing, all of your efforts,
and so we'll be talking more and we'll be making
(30:15):
some more announcements, but we can't tell everybody everything. Yes,
we're making some more announcements sometime soon. Already, thank you, yes,
all right, everybody, make sure that you always show up
and show out and continue to give It to the People. Bye, guys, y,
thank you so much for tuning in to another episode
of Give It to the People Live. We're here to
help you with your mental wealth. And if you're looking
(30:35):
for future events, you're looking for past podcast episodes, you're
looking for our webinars or anything that can help you
grow your business acumen, make sure that you visit give
It to the People dot com
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