Kamau's Business Blog Page - The World's 1st Black and Minority Business Blog!
Thursday, September 01, 2005
TOM JOYNER, BLACKAMERICAWEB.COM ESTABLISH RELIEF FUND FOR FAMILIES, FRIENDS ASSISTING HURRICANE KATRINA VICTIMS
Dallas, TX (BlackNews.com) - Tom Joyner, the top ranked nationally syndicated radio personality and entrepreneur, announced today the creation of the BlackAmericaWeb.com Relief Fund. The organization, formed in association with his online community BlackAmericaWeb.com, The Tom Joyner Morning Show, and parent company REACH Media, will assist people who are helping those displaced by Hurricane Katrina.
"Hurricane Katrina hit the heart and soul of Black America, says Joyner, whose four-hour, drive-time radio show is aired on 115 markets reaching 8 million listeners. This is our Tsunami and we want to take care of those people who now may have family or friends who are going to be in their homes for an extended period of time. We know its hard and we want to make it a little easier on everybody."
The BlackAmericaWeb.com Relief Fund will accept donations to provide relief in the form of gift cards to support families who are housing those displaced by Hurricane Katrina. The Fund will support individual families who have opened their homes to displaced families and loved ones to supplement their households as relief efforts continue. Relief assistance will be given directly to the families who need assistance.
Taking a grassroots approach, the relief fund will partner with local churches throughout affected regions. The churches will serve as effective conduits in both identifying and assisting households in need. In addition to localized efforts, the nationally syndicated Tom Joyner Morning Show has suspended the popular "TJMS Cash Call" contest and will donate the contest money directly to relief efforts. This action alone donates more than $75,000 to the fund. Motivational speaker and personality, Tavis Smiley, Tom Joyner Morning Show personalities Sybil Wilkes and J Anthony Brown have each pledged $1,000 this morning.
For more information about how the BlackAmericaWeb.com Relief Fund will provide relief to families helping families, you can go to BlackAmericaWeb.com and register for more information.
Additional information will be released today via email to BlackAmericaWeb.com members and at: Tom Joyner and Black America Web
The BlackAmericaWeb.com Relief Fund will accept donations at www.blackamericaweb.com and by mail at:
BlackAmericaWeb.com Relief Fund
PO Box 803209
Dallas, TX 75240
For those in need of assistance, BlackAmericaWeb.com Relief Fund assistance request form can be downloaded at www.blackamericaweb.com/relief
All relief requests must be submitted by the church or partner organization administrator. Companies, sponsors and potential partners interested in providing matching funds or resources are encouraged to contact Katrina Witherspoon, President & CEO of the BlackAmericaWeb.com Relief Fund at 972-371-5850. You can also call Toll Free - 888-866-1741 to get the information on how to make a donation and how to receive relief assistance.
About REACH Media Inc.
REACH Media, founded by radio personality, philanthropist and entrepreneur Tom Joyner, is a multi-media company formed in January 2003 as the parent company of all of The Tom Joyner Morning Show and several other businesses that will target African-Americans through radio, television, event production and the internet. Its website, BlackAmericaWeb.com (www.blackamericaweb.com), which has more than 850,000 members, is a virtual town square for visitors to get daily news, play games, search for jobs and listen to the Morning Show online.
REACH Media also produces the Tom Joyner Family Reunion @ Walt Disney World Resorts (www.blackamericaweb.com/family), a three-day Labor Day Weekend event, featuring top-name performers, comedians, seminars and access to the theme parks and the Tom Joyner Show, a nationally syndicated television show that will reach 70% of the general market and 85% of the African-American audience across the United States.
About BlackAmericaWeb.com Relief Fund - Helping Families Help Families
The BlackAmericaWeb.com Relief Fund is seeking qualification as a Section 501 (c)3 non-profit organization formed to operate as a charitable service to benefit individuals and families determined to be victims of publicly declared disasters. The BlackAmericaWeb.com Relief Fund is expected to receive temporary tax exemption status to immediately expedite its ability to begin soliciting and distributing donations to benefit those affected by Hurricane Katrina.
Go to Make a Donation at: Black America Web
"Hurricane Katrina hit the heart and soul of Black America, says Joyner, whose four-hour, drive-time radio show is aired on 115 markets reaching 8 million listeners. This is our Tsunami and we want to take care of those people who now may have family or friends who are going to be in their homes for an extended period of time. We know its hard and we want to make it a little easier on everybody."
The BlackAmericaWeb.com Relief Fund will accept donations to provide relief in the form of gift cards to support families who are housing those displaced by Hurricane Katrina. The Fund will support individual families who have opened their homes to displaced families and loved ones to supplement their households as relief efforts continue. Relief assistance will be given directly to the families who need assistance.
Taking a grassroots approach, the relief fund will partner with local churches throughout affected regions. The churches will serve as effective conduits in both identifying and assisting households in need. In addition to localized efforts, the nationally syndicated Tom Joyner Morning Show has suspended the popular "TJMS Cash Call" contest and will donate the contest money directly to relief efforts. This action alone donates more than $75,000 to the fund. Motivational speaker and personality, Tavis Smiley, Tom Joyner Morning Show personalities Sybil Wilkes and J Anthony Brown have each pledged $1,000 this morning.
For more information about how the BlackAmericaWeb.com Relief Fund will provide relief to families helping families, you can go to BlackAmericaWeb.com and register for more information.
Additional information will be released today via email to BlackAmericaWeb.com members and at: Tom Joyner and Black America Web
The BlackAmericaWeb.com Relief Fund will accept donations at www.blackamericaweb.com and by mail at:
BlackAmericaWeb.com Relief Fund
PO Box 803209
Dallas, TX 75240
For those in need of assistance, BlackAmericaWeb.com Relief Fund assistance request form can be downloaded at www.blackamericaweb.com/relief
All relief requests must be submitted by the church or partner organization administrator. Companies, sponsors and potential partners interested in providing matching funds or resources are encouraged to contact Katrina Witherspoon, President & CEO of the BlackAmericaWeb.com Relief Fund at 972-371-5850. You can also call Toll Free - 888-866-1741 to get the information on how to make a donation and how to receive relief assistance.
About REACH Media Inc.
REACH Media, founded by radio personality, philanthropist and entrepreneur Tom Joyner, is a multi-media company formed in January 2003 as the parent company of all of The Tom Joyner Morning Show and several other businesses that will target African-Americans through radio, television, event production and the internet. Its website, BlackAmericaWeb.com (www.blackamericaweb.com), which has more than 850,000 members, is a virtual town square for visitors to get daily news, play games, search for jobs and listen to the Morning Show online.
REACH Media also produces the Tom Joyner Family Reunion @ Walt Disney World Resorts (www.blackamericaweb.com/family), a three-day Labor Day Weekend event, featuring top-name performers, comedians, seminars and access to the theme parks and the Tom Joyner Show, a nationally syndicated television show that will reach 70% of the general market and 85% of the African-American audience across the United States.
About BlackAmericaWeb.com Relief Fund - Helping Families Help Families
The BlackAmericaWeb.com Relief Fund is seeking qualification as a Section 501 (c)3 non-profit organization formed to operate as a charitable service to benefit individuals and families determined to be victims of publicly declared disasters. The BlackAmericaWeb.com Relief Fund is expected to receive temporary tax exemption status to immediately expedite its ability to begin soliciting and distributing donations to benefit those affected by Hurricane Katrina.
Go to Make a Donation at: Black America Web
Hip Hop Icons and Major Music Stars Respond to Katrina Tragedy
While hip hop has recently been under controversy again with fights and shootings, other young hip hop - R&B and Music stars are performing to raise funds for the Hurricane Katrina rescue efforts.
Young artists are responding again to a modern tragedy proving all gen xers and yers are not all self centered bling bling obsessed thugs. Leading the pack are recent music icons like Usher, Alicia Keys, Green Day and Ludacris. Also supporting the relief efforts are other music stars like Dave Matthews Band, Rob Thomas, Linkin Park's Chester Bennington, David Banner, Gretchen Wilson and John Mellencamp. Read the whole Story at: MTV's Website
Serena Williams running high on her recent Australian Open Grand Slam Win and US Open second-round win says "she will donate $100 for every ace she hits the rest of the year to the Hurricane Katrina relief efforts. If you ever have seen Serena's power serve game this you know this could add up to quite a bit of loot for charity. If this helps her motivate herself to do good and well at the same time I say more power to your sister! Read more about Serena and her latest flap with the major media: Click Here
Young artists are responding again to a modern tragedy proving all gen xers and yers are not all self centered bling bling obsessed thugs. Leading the pack are recent music icons like Usher, Alicia Keys, Green Day and Ludacris. Also supporting the relief efforts are other music stars like Dave Matthews Band, Rob Thomas, Linkin Park's Chester Bennington, David Banner, Gretchen Wilson and John Mellencamp. Read the whole Story at: MTV's Website
Serena Williams Donating to Katrina
Serena Williams running high on her recent Australian Open Grand Slam Win and US Open second-round win says "she will donate $100 for every ace she hits the rest of the year to the Hurricane Katrina relief efforts. If you ever have seen Serena's power serve game this you know this could add up to quite a bit of loot for charity. If this helps her motivate herself to do good and well at the same time I say more power to your sister! Read more about Serena and her latest flap with the major media: Click Here
Master P Donates to the Katrina Rescue Effort
Mogul’s New Orleans Homes Completely Destroyed, Family Members Missing, Benefit Concert/Album Planned.
Article courtesy EURWeb.com
With possibly thousands dead, water and food supplies running out and 80 percent of New Orleans submerged in rising waters, rap mogul and native son Master P has been busy trying to coordinate relief efforts to help citizens cope with perhaps the most catastrophic natural disaster ever experienced on US soil. P spent part of Wednesday, in his Los Angeles home, on the phone with New Orleans Mayor Ray Nagin and the suits at BET in hopes of organizing relief efforts.
Master P's publicist, Donna Torrence, said he will be in New York today at the Red Cross' headquarters for a 12:30 PM press conference organized by BET, the Urban League, the RED Cross and Russell Simmons and the Hip-Hop Summit Action Network. “As a native of New Orleans, me, my wife Sonya and my son Romeo have formed Team Rescue to help our community affected by the devastation of Hurricane Katrina,” P said in a statement.
“We are contributing our own money toward items such as food, clothes and shoes and we are also reaching out to corporations for donations.” Master P’s wife, Sonya Miller, plans to donate products from her hair care and skin care line to women who make up the over 78,000 people living in shelters around New Orleans. “Sonya is reaching out to companies for product donations for mothers, like Pampers and Gerber baby food, as well as soliciting donations of items helpful to ladies and girls,” said P.
“I am reaching out to companies for men's products as well as calling on my friends, athletes, sports team owners, banks, etc for monetary contributions as well items such as a quantity of cell phones so that people can call loved ones.” P is also organizing a Save Our Hood concert and album to raise additional funds, while Romeo is calling on his teenaged peers for help with donations.
Master P said of his relief effort: “My family has set out to save and rebuild our neighborhoods and help our inner-city brothers and sisters who have lost everything in this disaster. Those in need and those who wish to donate can call our hotline at 888.886.7377 and speak to someone who can help. The line will be up and running today. For more information please go to www.teamrescueone.com.
Full Story: Click Here
Article courtesy EURWeb.com
With possibly thousands dead, water and food supplies running out and 80 percent of New Orleans submerged in rising waters, rap mogul and native son Master P has been busy trying to coordinate relief efforts to help citizens cope with perhaps the most catastrophic natural disaster ever experienced on US soil. P spent part of Wednesday, in his Los Angeles home, on the phone with New Orleans Mayor Ray Nagin and the suits at BET in hopes of organizing relief efforts.
Master P's publicist, Donna Torrence, said he will be in New York today at the Red Cross' headquarters for a 12:30 PM press conference organized by BET, the Urban League, the RED Cross and Russell Simmons and the Hip-Hop Summit Action Network. “As a native of New Orleans, me, my wife Sonya and my son Romeo have formed Team Rescue to help our community affected by the devastation of Hurricane Katrina,” P said in a statement.
“We are contributing our own money toward items such as food, clothes and shoes and we are also reaching out to corporations for donations.” Master P’s wife, Sonya Miller, plans to donate products from her hair care and skin care line to women who make up the over 78,000 people living in shelters around New Orleans. “Sonya is reaching out to companies for product donations for mothers, like Pampers and Gerber baby food, as well as soliciting donations of items helpful to ladies and girls,” said P.
“I am reaching out to companies for men's products as well as calling on my friends, athletes, sports team owners, banks, etc for monetary contributions as well items such as a quantity of cell phones so that people can call loved ones.” P is also organizing a Save Our Hood concert and album to raise additional funds, while Romeo is calling on his teenaged peers for help with donations.
Master P said of his relief effort: “My family has set out to save and rebuild our neighborhoods and help our inner-city brothers and sisters who have lost everything in this disaster. Those in need and those who wish to donate can call our hotline at 888.886.7377 and speak to someone who can help. The line will be up and running today. For more information please go to www.teamrescueone.com.
Full Story: Click Here
Calling all Women Entrepreneurs Looking for Funding!
On November 18th, 20-25 women entrepreneurs will take the stage at the Harvard Business School to present their businesses to over 200 of the most influential venture capital and private investors in the New England and New York areas. The CWE-Springboard Venture Capital Forum is a national program designed to increase investments in women-led firms and facilitate new deal flow to investors.SPRINGBOARD RESULTS:
CWE-Springboard: New England presenters have raised over $274 million after their respective forums Nationally, Springboard presenters have raised over $3.5 billion.
CWE-Springboard targets high-growth businesses in the technology and life sciences industries that seek seed, first, or later stage funding. Women entrepreneurs who apply must have a senior leadership position in the company (e.g. CEO, President, Founder, CFO, COO, VP, etc.) and hold a parity equity stake in their company relative to other members of senior management.
To apply, please submit an online application at:Springboard Enterprises.org. There is a $50 application fee. The application deadline is September 7, 2005.
If you are interested in applying to CWE-Springboard: New England 2005, please contact Ella Aglipay at eaglipay|cweonline.org (please note and insert the @ symbol where the | is in the email address). This was done so the spammers can't pick up the email address.
Applying For A Business Loan: Putting Your Best Foot Forward Author: John Day
Remember the book called Catch 22? It is now commonplace to call a Damned if you do, and damned if you dont situation a Catch 22. This is a predicament that many small business owners have found themselves in.
Running short of cash, the owner goes to the bank to borrow money, only to find that they dont qualify for a loan because they dont have enough money. This is quite maddening to the business owner who laments, If I had enough money, I wouldnt be asking for the blankety-blank loan! Seems kind of stupid, but you have to understand what bankers are up against.
Number one, they have to have some assurance that they are going to be repaid. They have to sell this loan to the loan committee of the bank, and they are not about to present a package that will make them look foolish. Furthermore, they have auditors who look very closely to make sure the loans were issued according to bank policies and procedures. If a loan officer has too many loans that go south, then his/her track record starts to affect his/her career.
This is why you find many loan officers who go strictly by the book. These people refuse to look at any extenuating circumstances that might indicate that you would be a good risk regardless. Unless you fit into their narrow criteria of risk you might as well forget it. It is best to find a bank manager or loan officer who has plenty of self-confidence, is familiar with how small businesses operate, and is willing to look at the big picture. They can sense whether a loan applicant is solid or shaky.
This is the point at which you, the applicant, will want to put your best foot forward. You may find that as long as you have substantial equity in a home, good credit, and adequate cash flow that you are a tasty morsel in the mouth of a loan officer. However, if you are short in any of these areas, you are going to have to overcome the bankers natural skepticism. First impressions are paramount.
If you are not organized, you are dead meat. If you are asking to borrow money, then you must possess the skills necessary to pay the money back. These are skills, such as, the ability to think and plan ahead, and the discipline required to operate your business in a professional manner. This means having the know-how to gather information and organize it in such a way that you can make meaningful and timely decisions.
Ask any banker and they will tell you of countless business customers that come in seeking a loan who dont even know what a financial statement is. There are many other business customers who seek loans that do have a financial statement but havent a clue as to what it means. This does not bode well for first impressions. Compare the individual who comes to the bank, nicely dressed, well groomed and possesses not only a financial statement that he/she understands, but has a plan as to how he/she will pay the loan back.
This phenomenon is so rare that a banker will usually sit up and take notice. If the reason you are short on cash and need a loan is because you are a poor manager who is in denial about your failing business, it will be obvious to the banker. Bankers are objective. They are not going to throw good money after bad. However, if you have a healthy business and you want to finance a new piece of equipment that will enhance your revenue earning capacity then your request will seem reasonable.
Perhaps you need a line-of-credit to shore up your cash flow during less productive seasons, and you plan to pay back the line during productive seasons. These are the kind of stories that make good business sense to a banker. To back up your story, you will need a Balance Sheet and Profit & Loss Statement that reflects the history of your business activity. Included should be an analysis of your business trends using some key business ratios. If the numbers look good, then go for the loan.
Remember though, you cant rely on the banker to recognize all the positive aspects of your business, therefore, you should provide a narrative of how your business works and why the requested funds for the business will help you make more money.
About The Author: John W. Day, MBA is the author of two courses in accounting basics: Real Life Accounting for Non-Accountants (20-hr online) and The HEART of Accounting (4-hr PDF). Visit his website at: Real Life Accounting to download for FREE his 3 e-books pertaining to small business accounting and his monthly newsletter on accounting issues.
Running short of cash, the owner goes to the bank to borrow money, only to find that they dont qualify for a loan because they dont have enough money. This is quite maddening to the business owner who laments, If I had enough money, I wouldnt be asking for the blankety-blank loan! Seems kind of stupid, but you have to understand what bankers are up against.
Number one, they have to have some assurance that they are going to be repaid. They have to sell this loan to the loan committee of the bank, and they are not about to present a package that will make them look foolish. Furthermore, they have auditors who look very closely to make sure the loans were issued according to bank policies and procedures. If a loan officer has too many loans that go south, then his/her track record starts to affect his/her career.
This is why you find many loan officers who go strictly by the book. These people refuse to look at any extenuating circumstances that might indicate that you would be a good risk regardless. Unless you fit into their narrow criteria of risk you might as well forget it. It is best to find a bank manager or loan officer who has plenty of self-confidence, is familiar with how small businesses operate, and is willing to look at the big picture. They can sense whether a loan applicant is solid or shaky.
This is the point at which you, the applicant, will want to put your best foot forward. You may find that as long as you have substantial equity in a home, good credit, and adequate cash flow that you are a tasty morsel in the mouth of a loan officer. However, if you are short in any of these areas, you are going to have to overcome the bankers natural skepticism. First impressions are paramount.
If you are not organized, you are dead meat. If you are asking to borrow money, then you must possess the skills necessary to pay the money back. These are skills, such as, the ability to think and plan ahead, and the discipline required to operate your business in a professional manner. This means having the know-how to gather information and organize it in such a way that you can make meaningful and timely decisions.
Ask any banker and they will tell you of countless business customers that come in seeking a loan who dont even know what a financial statement is. There are many other business customers who seek loans that do have a financial statement but havent a clue as to what it means. This does not bode well for first impressions. Compare the individual who comes to the bank, nicely dressed, well groomed and possesses not only a financial statement that he/she understands, but has a plan as to how he/she will pay the loan back.
This phenomenon is so rare that a banker will usually sit up and take notice. If the reason you are short on cash and need a loan is because you are a poor manager who is in denial about your failing business, it will be obvious to the banker. Bankers are objective. They are not going to throw good money after bad. However, if you have a healthy business and you want to finance a new piece of equipment that will enhance your revenue earning capacity then your request will seem reasonable.
Perhaps you need a line-of-credit to shore up your cash flow during less productive seasons, and you plan to pay back the line during productive seasons. These are the kind of stories that make good business sense to a banker. To back up your story, you will need a Balance Sheet and Profit & Loss Statement that reflects the history of your business activity. Included should be an analysis of your business trends using some key business ratios. If the numbers look good, then go for the loan.
Remember though, you cant rely on the banker to recognize all the positive aspects of your business, therefore, you should provide a narrative of how your business works and why the requested funds for the business will help you make more money.
About The Author: John W. Day, MBA is the author of two courses in accounting basics: Real Life Accounting for Non-Accountants (20-hr online) and The HEART of Accounting (4-hr PDF). Visit his website at: Real Life Accounting to download for FREE his 3 e-books pertaining to small business accounting and his monthly newsletter on accounting issues.
