Thijuana Booth is the founder and CEO of a commercial loan consulting company known as Xcellerated Business Funding. It is a subsidiary of Booth Equities Inc. The business has been very successful and profitable for many years, largely because of the company’s mission and dedication to assisting struggling small business owners.
Thankfully for us, Thijuana was able to answer a few of our questions about the business, where they started and how they are helping people.
Thijuana, what was the primary motivation behind starting XB Funding?
Answer: Oh that is a great question, thank you for asking it. I started out as an entrepreneur myself who wanted to open several franchises at once. I was funding this myself and realized I didn’t have enough money. So one day I was thinking about all these start-ups that was raising millions of dollars and I wanted to know how they were doing it. I started researching and decided to become an “insider” in the financial world. I learned who, what, where, when and how they did it. I went to training, I interned for several years and then went out on my own. During this time, I decided to help those that were denied access to capital the most. I figured I would have broader reach to assist more people. I especially wanted to help women and minorities as they are denied at a much higher rate.
What is your career background? Were you always in the financial space?
Answer: I was in the Health Insurance industry field for 30 years until my job was outsourced to India as many Americans have been affected by this same situation. I wasn’t old enough to retire, so I thought this was the perfect time to start my own business. I was not always in the finance industry, but I am glad I am now.
In your opinion, what are XB Funding’s most popular and in-demand services?
Answer: Anything dealing with Commercial RE, Fix & Flips are very popular. Business Loans and Lines of Credit, Equipment leasing, Start-up funding, and Celebrity Financing is a big one for us. I must say that Customer Service is another one of our best attributes. Some companies don’t place a premium on this skill set as they should. We treat each and every client with the importance and attention they deserve.
Are there specific types of customers that come to you for financial assistance?
Answer: The bulk of our clients are those who can’t obtain funding from traditional banks for various reasons. Perhaps it’s an international deal and too risky for the big banks. If a client has a business and they have an overhead or can’t meet payroll they have to find other solution(s). They may require a new piece of equipment, working capital or simply want to expand their business. We assist clients with bad credit, collateral and cash flow challenge’s.
For struggling business owners, what would be your financial advice to help their businesses be more profitable?
Answer: First, you need to know your business and product. Make sure everyone that works for you understand the importance of Customer Service. If you carry inventory, make sure you don’t carry inventory that is not selling. Be very careful not to try to grow too fast, steady growth is best take your time, learn from your mistakes. Hire mature experienced staff. Listen to your customers’ requests because they are the one’s frequenting your establishment. Look out for the dynamic changes in the community. Always stay humble and be willing to constantly learn as much as you can in your respective field. Always invest back into your business.
How often do regulatory changes in the financial world impact your business’ operation?
To be honest not much at the moment, but it is coming.
Are there any plans to expand geographically or diversify XB Funding’s core services?
Answer: We already have the capabilities to fund International & national now, but we would like to absolutely grow at a steady pace.