June 19, 2023 | Last Updated on: September 13, 2023
Black-owned businesses are part of the life blood of the United States. Some of the most essential businesses in the United States are owned by African Americans. These include Modular Assembly Innovation, Coca-Cola Beverages Florida, Bridgewater Interiors L.L.C., Act 1 Group, and World Wide Technology. All of these businesses and plenty more run by black entrepreneurs help make up our society. You may not know it, but some of your favorite local businesses are definitely black-owned as well.
Despite the many success stories in the industry, it’s important to remember that it can be challenging to be a business owner in today’s societal landscape. As reported by Forbes, unfortunately, black business owners face increased challenges like racism and the inability to receive equal capital as other races. It’s up to us as a community to improve these conditions and create a fair and balanced community for everyone to be able to thrive in.
Here at Biz2Credit, we want to celebrate black business owners and support black-owned businesses. We’ve had the honor of working with some incredible black business owners. Whether they’re small businesses or larger companies, entrepreneurs should feel comfortable coming to Biz2Credit for funding.
With that in mind, we would like to highlight some black-owned businesses we’ve worked with throughout the years here at Biz2Credit.
We’ve been lucky enough to receive testimonials from these business owners, so it’s our time to show them off and let them shine! Let’s take a look at some of these excellent businesses and their stories.
David Jefferson is the founder of Early Rise Academy, a Jersey City, New Jersey Daycare Center that provides child care for kids aged 0-13. They also participate in a subsidized childcare program. David Jefferson noticed the lack of care centers in his community and rather than standing by idly, he took action and started his own.
Over time thanks to Jefferson’s expert maneuvers as a businessman, Early Rise Academy continued to grow. Little did Jefferson know when he started Early Rise Academy that it would one day feature seven flourishing locations and employing 60 people.
Jefferson is a wise entrepreneur, as he noticed early in his work that banks were slow to action and created a lot of unnecessary hassles as he tried to fund his company. Jefferson took control of the situation and found Biz2Credit to help solve his funding needs.
Another example of Jefferson’s expertise as an entrepreneur is his ability to pivot when it’s demanded of him. When the COVID pandemic hit, Jefferson had to shut down all seven of his locations, only to renovate them with the necessary changes to reflect the ever-changing society we live in.
The ability to pivot and not only maintain but even improve his locations during times of trouble is something all entrepreneurs should look to replicate. Despite being a new entrepreneur when he started Early Rise Academy, Jefferson showed extreme poise under the pressures of running a business.
Jefferson’s flexibility and expertise have proven to be the winning combo in creating a company that’s built to last. Thanks to Jefferson, New Jersey has a series of excellent daycare centers that serve the community and help make New Jersey a better place.
We think that’s worthy of celebrating, don’t you?
This black-owned small business is run by Marie Bibum, a Doctor in Pharmacy. Bibum is up to 20 years running State Pharmacy in Washington D.C., providing customers with a variety of prescription and over-the-counter medications. Bibum’s pharmacy is a staple in the Washington D.C. community, helping prioritize wellness and health.
Unfortunately, State Pharmacy hit a challenge when the COVID pandemic hit. Similarly to Early Rise Academy, State Pharmacy ran into some unforeseen challenges caused by the COVID pandemic, but that wouldn’t stop Bibum from success. Working with Biz2Credit to get the necessary funding, Bibum got through the pandemic while remaining successful and even growing her pharmacy.
But it isn’t all about the money for Bibum, as what she enjoys the most is working with the great people in the Washington D.C. community. It’s essential to have strong-willed, kind people like Bibum running businesses in the community, as people need people to turn to when they’re struggling.
For the people of Washington D.C., they know they can always count on State Pharmacy and Marie Bibum for their pharmaceutical needs.
Owned and operated by Shihan Troy Binns, Binns Victory Martial Arts is a martial arts company based in Brooklyn, New York. Binns is a fifth-degree black belt, as well as a three-time Sport Karate World Champion. Needless to say, Binns is an expert in all things karate. However, that’s not the only thing Binns is an expert in.
When we see small businesses, we often overlook the people behind the businesses. In the case of Binns Victory Martial Arts, it’s impossible to look at the success of the company without looking at the mission behind it and the success of Shihan Troy Binns as well.
See, Binns Victory Martial Arts is not just any karate studio. It’s a studio aimed at serving the community and creating a safe space for people to learn the art that Binns grew up with.
Says Binns, “I started in Martial Arts when I was two years old and received my black belt when I was seven years old. I have been teaching since I was eleven years old. I teach both kids and adults. I really love to see the kids progress in their art as well as their personality growth, because martial arts is not just about punching and kicking, it is about the development of character. And that is what we teach here, it is about who you are going to be as a citizen, as a husband, as a wife, as a person. That is what we focus on.”
As you can see by the quote, Binns is focused on being an integral part of the community and building a sustainable business that helps provide people with ways to become better people beyond karate.
Binns Victory Martial Arts has been around since 1976, when Binns’ father started it. When his father fell ill, Binns took over day-to-day control of the business, and hasn’t looked back since. However, like most companies did, Binns Victory Martial Arts faced some major challenges during the COVID pandemic. Faced with shifting to an increasingly online world due to social distancing, Binns knew he needed help funding and a new plan to get through the pandemic.
And get through the pandemic he did, says Binns, “It is almost a year later, and the students are coming back in, and I am excited to begin teaching classes. I am blessed to be able to do what I love. My family is here, I work with the love of my life, my kid is here-this is my dream.”
For Binns and Binns Victory Martial Arts, serving the community is key. We’re lucky to see a business owner like Binns succeed, and we look forward to seeing his dreams continue to come true.
GSE Laundry is a Cleveland, Ohio coin-operated laundry and cleaning business run by Gauntlett Eldemire. A former minor-league baseball player turned entrepreneur, Eldemire opened the laundry business in 2013 and has been running it ever since. When the COVID pandemic hit, Eldemire was forced to pivot, much like the other entrepreneurs we’ve highlighted.
Eldemire required some funding, but was able to get to where he wanted to be quickly and efficiently because of his excellent work as an owner. It didn’t take long for Eldemire to open second and third locations, as he now owns three coin-laundry and cleaning businesses. In fact, Eldemire hopes to keep expanding and owning more businesses to help serve the Ohio community. His new Garfield Heights location is four-times as large as his original location, showing his ability to not only adapt, but also expand and create.
Eldemire looks at his coin-laundry and cleaning business as an opportunity to help the community. It’s an integral part of each community he has placed his businesses in, and the results have shown that the communities appreciate the businesses as well.
For GSE Laundry and Gauntlett Eldemire, the sky is the limit. We’re excited to see future expansion and what Eldemire comes up with next.
Every community is made up of small businesses that are essential towards the success of said communities. We often take these businesses for granted, whether it’s their successes or the challenges they’ve had to face to get to where they are today. Throughout this article we’ve covered some incredible black-owned businesses we’ve had the pleasure of working with. There are plenty more we’ve had the honor of working with, and there will be plenty more in the future
Whether it’s Early Rise Academy, State Pharmacy, Binns Victory Martial Arts, or GSE Laundry, all of these companies have weathered storms to get to where they are today, making their successes all the more impressive. They’re all run by entrepreneurs who wish to help grow their local communities and provide services that can truly make differences. That’s one of the key takeaways we’ve found in our work with these four businesses. It’s not all about the money, it’s about leaving a lasting impression in their communities and being able to follow their passions and dreams.
Here at Biz2Credit we believe these businesses are worthy of praise and celebration. Don’t forget to support your local black-owned businesses, too!
