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I am saying -- Wednesday -- reached out to us on FaceBook where at FaceBook dot com.
Slash fox news live on Twitter at fox news live if they can -- get on -- chat.
I always bring in the chats during the show online right now I ask you guys a question I said on packaged food thinks salad bars and bakeries.
They have to post nutritional information for spending TO is that our regulatory burden more expensive for them there for more expensive for you know.
Or is it nice and healthy let me know -- Our great let's kick off our small business Wednesday with Cory Ross joining us from CN -- -- CDC easy.
And we're talking about funding and the idea of getting loans to small businesses and your company's common BBC -- but this certainly is not easy how are you -- Yeah Lauren thanks for having me.
What we're doing here it BBC easy -- we've automated the borrowing base certificate process.
Make it easier for banks and their customers to manage.
-- C and I or borrowing base significant -- It's OK so can we run through some of the different ways that.
Small businesses can increase their odds of getting a -- because everybody knows it's been increasingly difficult for.
For many businesses big and small.
We've broken it down into for.
Parts that make it easier for small -- -- to get loans.
And I actually the first half of my career was spent in commercial banking or -- looked at a lot of these requests.
And the first thing I found was that what a business should do is what we called get your financial house in order.
What the banks don't want to see is they're gonna wanna see three years of financial statements.
Three years -- tax returns on your business.
And also personal financial statements for the -- -- -- -- So what the businesses do not.
Going to just wanna run these reports and cement into the bank are actually gonna wanna read the wrong take a look at and see if there's any.
Red flags and there may be the previous -- there was a loss maybe there's -- thing on owners credit report.
If you get in front of those kind of questions early and get -- -- That really helps the process.
-- then next thing we like to do is we like to hear a story.
Is if there are those blemishes on your credit reporter in the business we want to hear what I hope we'll be exactly what what happened there.
And then also what he gonna do with the money.
If we give -- this planet -- area and expand your business -- take on -- -- product line -- Vienna refinance existing debt we we wanna hear that story.
How telling does that story have today.
You know not the not too compelling you don't have to -- Tell your bank you're gonna go take over the world.
But often times.
You just use.
Want to have a source for these funds you wanna know where these funds are going that they're not just.
Going to facilitate more losses that are going to pay off early investors -- -- -- see these funds are being used to benefit the business.
Okay and then what can banks do so they can improve on and how they give loans and also -- ignorance.
-- how well the good -- there is is in our business we talked to banks and businesses every day and banks want to make small business loans.
They're out there telling their sales force on their people to go find these kind alone so that's the good news client wants -- -- -- not.
Yeah the bad news is is that is that banks are still using some -- outdated technology.
The makes -- makes it difficult for them not only to approve these loans but once they improve and -- they have trouble managing.
When I -- when I was at the bank it took me as long to manage -- 50000 dollar loan as they did a five million dollar wow.
You're still requiring the same paperwork you're still yeah I saw the same process.
-- makes sense so you would suggest that they perhaps use a new technological advances like.
Cloud based software.
Yeah that's exactly what we're thinking and you know that times are gone where you need to buy a 100000 dollar system and put it on here behind your firewall your bank now all this stuff can happen in the cloud.
You literally paying per borrower and it's yeah it's become a lot easier and a lot more cost effective for bank.
-- -- say it's happening in the crowd of well what does that mean for the banks what was software should they have.
Can you talk about that a little bit more.
Because it's happening outside of the banks firewalls right really that's been the concern is is basically to -- -- down they have confidential information there.
So it makes sense that banks and governments.
That are they're slow to change -- slow to pick up this kind of technologies -- -- sensitive information.
But if you're operating outside -- the firewall.
Like from from the location of our company.
Nobody can access your checking account -- your Social Security number any sensitive business information.
Because we're operating in the cloud.
Your data remains safe and you can keep all your secure.
Files -- firewall and everything's encrypted mean yeah it's like here at the bank -- -- not.
Yet -- you know they -- report out today.
Saying that the Federal Reserve was hacked by the -- self.
Timely comments Cory Ross thank you so much for joining us -- -- BC easy enjoy your day there in Seattle I'm just gonna bring in big.
Chat right now been made three C three.
They spend every penny and then they borrow more and thank -- for -- very good spelling today.
Right really quickly.
We have a question and this is action for the big news today is that Saturday mail service.
Is done no more starting in August so the question that we're asking is do you -- that the US Postal Service will and that Saturday mail delivery.
So weigh in on FaceBook on Twitter you're not sure you might miss it.
No there's always email an electronic -- -- to get along.
Yes you count on mail delivery even on Saturdays like Netflix movies you know and we don't care -- -- you it.
So let us now.
It's there's a new you decide up on Fox News -- -- gonna break now will be back right after us.
Welcome back everybody okay vote on our you decide.
Right now up on foxnews.com do you care that the US Postal Service will end Saturday mail delivery this is not the packages this is just for -- What can.
Not sure know yes or you don't care I still can't answer Imus I don't care I must I think anyway except my neck for.
Movies which means you can stream.
OK Shannon Bream is joining us from Washington DC this is -- great story.
Because of new regulations tucked into the new health care bill.
Nice salad bar might go away the bakery might go away or get more expensive because their -- new regulations announced that.
Yeah and that -- the interesting thing here Lauren is that this is a regulation that comes from the new health care -- -- and it made sense in the beginning to most folks because.
What I was going to be require restaurants and I know in New York they -- he did this and some other places as well.
To give -- nutritional information on anything you want -- order off the menu.
Well the FDA decided that it was also going to include supermarkets convenience stores in this labeling issue as well now you know when you go to the grocery store expect anything -- -- -- -- off the ice shelf.
I can't settle for something else it -- has nutrition information on it but those things -- -- like salad bars or hot food bars where you get soup.
Are you pick up some dinner for the evening on that also baked goods that are made on site -- your -- cupcakes -- cakes at your local grocery store.
Those things don't come with labels but under this new regulation they have to be labeled eight separate records would have to be capped.
And essentially it would require brochures who may -- one store ten stores.
It doesn't matter who you are it would require them to have very expensive software that would calculate an international basis of these things or outfit actually the senate not to labs.
It costs a lot of money so I talked with -- grocery who's now facing -- Tom -- NN.
-- -- -- -- -- Well I mean the supermarket industry is is a business it's well known that our net profit.
-- average and has been forever is 1%.
So when you incur significant cost.
There's no way that that doesn't get past time for the customer and some form.
And an industry group estimates this regulation in the first year -- would end up costing supermarkets a billion dollars.
A lot of money so you have those costs have to go somewhere or -- like you mentioned -- it's possible.
They get rid of the bakeries a salad bars the hot food bars altogether -- not some.
-- appetizing choice is for either brochures or customers -- not gonna lie I like that some of these things that like to -- don't have -- hang.
No time haven't did anything you don't want to get it.
Yeah I would know so far about the enforcement and the penalties for for these grocery store owners they don't comply.
Well these regulations are going to be top they're not an effect yet that they are cruising toward.
A final process for the be finalized and put into practice so if they remain unchanged here's what's gonna happen.
-- expect with any federal regulation people come along and it's -- And if you're not complying you could face and dairy hefty fines if you get from the information -- wrong to label something incorrectly.
But that's not all find some most of us would make sense.
Folks that are actually in executive management of these grocery stores and if you're an -- it's you.
You can actually go to jail if you get these labels wrong some serious penalties -- -- Shannon -- thank you so much for bringing us that story have a great day there it's okay.
Right American and move on to the two beautiful and very trendy stylish lady sitting next to mean we had Abigail Breslin.
And Emily buck but its biggest -- co founders of wanderlust which is essentially it was -- plug.
And now you're a businesses small business fast company yes I have personal stylists of bottling company.
Seeing really come along way and we're talking about this on small business -- because fashion here -- city.
Kicks off tomorrow are you guys excited that -- became fast yes and -- for Fashion Week helping -- the deal is Fashion Week.
It's it's a huge deal -- Ever -- -- cut it means something different for everybody but I mean we do styling we do -- representation we do consulting so.
There's a lot of different aspects that we look into the Fashion Week for.
So we cover about eight -- the day you -- -- -- -- on and off site.
Yes you have -- -- milk and other certain.
-- yet we do everything together we do every shows together she takes photos I do media I take notes -- and stick and sweet face -- pictures from each shell.
And we -- fans of the -- get all the different.
Read my son's that he composed later -- in -- songs are really cool thing.
Each other we met in junior high Altria lifeline that Obama and now business partners and founders of wanderlust.
I have to looking at your -- right now.
Because for people who go to -- to -- it really is all about not only what you see on the runways but what you Wear when I actually analyst -- She's at the end of my day Allen wanted to experience -- -- No I'm not -- trend is sea island now can you got your necklace you're rings here see through top your leather shorts how important is it.
-- used to dress like this when they're covering us up.
As I mean it's actually people blog about in Atlanta and yet revenue up -- -- consented all the streets I am glad it's all of the defendant.
-- -- there is everything so it.
It's really important it's your name out there as late for us the -- -- -- getting our friend up there.
For an art styles specifically we tend to have this -- different aesthetic.
We get it very -- Diana nearly.
That's sort them by an industry and -- just need to worry about their employees cannot find your business growth -- the past couple years I mean it's always it's always been two of us because.
Luckily everything's online which kind of they get some sense but we we can cover a lot by ourselves but we have we got their interns that we get from schools and new York and -- for about a semester a crack interns free labor yeah.
We've been there yeah.
-- making money.
I guess we live we do -- full time we both of off our back up OK that's good brand -- late -- Altman let's say but it's.
Five -- I think that.
We want to be able to touch on every aspect of the industry meet you think stating that he gets a bad all the different things that -- -- so we.
We want to touch on everything in designing.
Anything we're doing now.
But even a moment that.
And you're also working with foxnews.com.
As we cover actually I have got a couple -- shows -- you doing -- humor.
Starting tomorrow morning.
We have is showing him.
Which is the same every -- people's revolution it's Nicholas K.
And then from about nine -- nine every day -- out we don't go home.
And computer during our photographer partner flip cam.
And yeah every two weeks you do earliest for one -- and -- okay.
And and so I'll use that opportunity you -- just looking at our website to tease our own fashion coverage foxnews.com.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- People come on all of us I follow a couple of fashion bloggers.
And its interest seeing you know I live right by Lincoln Center.
But to see someone from a lot of them from here coming into the he is -- -- and then you really this is really cool so hands on for -- but it's very hard to get invited to Asia.
It is very difficult I mean our first season but it was going to be kick start of our company turning.
From a blog -- company was September it just -- -- And we sort of just hit the pavement we.
Message every parent company and the city.
And that's how we got we had -- at a good time and we got.
Forty shows our first year and a -- just hundred children -- oh my gosh I'm.
Over a hundred.
There's definitely there's a difference between Mercedes-Benz official shows via an on site once it's very expensive to throw it traditional runway show there's still lots of people like -- -- the off site once -- they can do it they want and it's usually cheaper.
I -- of the services that wanderlust provides -- -- personal shopping ad campaigns window displays brand consultant modeling.
Which one of these is your your your money maker.
Brandon visitation in moderately in our biggest thing we we host a lot of events being -- to work with specific.
It's ten Buick Brandon -- -- is -- -- companies that if you can say you can't it depends what we're offering for them our very first job.
Two years ago the reason he became had to become a company -- as we -- in head dance class and some inspired us and like their style and she was like you know Sunday night might also get fired up higher carrier stylus right all right it was -- And I mean that we are literate type two years old -- -- Styron and styling for this massive company.
It's been close obviously and the head -- -- drinking at that he didn't let things I -- -- The iron you wouldn't notice got kicked out of monopoly today in favor for the cat as the token that makes me think of my steamer.
Kicked out and I am -- time ago and I -- -- you put that that you were forced to form a company.
And so my -- to twenty to you thank you so much for coming on -- Ellen Angelina I'm the co founders of wanderlust were -- your website on the screen.
And we're also.
The united -- our coverage -- -- dot com slash Fashion Week that page includes the latest articles on foxnews.com.
A list of the upcoming shows and events and a live chat.
With all the latest tweets and everything else much -- actually happens.
In social space.
You can get all the updates I'm actually getting -- -- wasn't gonna get too into it this year maybe I will now apparently go to break we'll be back right after this.
All right you weighed in on our web say on you decide that -- decision for the Postal Service to stop mailing us stuff on Saturday.
In terms of -- not packages.
-- -- he had received no bills by Mallon and I paid via electronic transfer.
I received my -- -- UPS or FedEx the post office can laugh half their workforce in just deliver on Wednesday.
So I -- my John -- time at very considerate okay might face certain things for weighing in.
-- -- we don't get them smell anymore anyway the economy killed junk mail thankfully and I only get a few stupid bills by -- now.
Ending mini one less day of junk mail sounds good.
But then I would would have enough to put.
Put out on recycling day sounds like a -- -- -- Funny today thank you for playing -- -- say it's a -- my next guest is a return guest Ingrid vendor belts the Dell.
Entrepreneur born residents and -- a great job theory here is basically to the ground your reporting back to Dell about how entrepreneur -- in the small business community.
Our feeling thank you it's fantastic I'm a lifelong entrepreneur myself and say yes I'm the person gets to.
He's the voice for the -- on small business on our community and really bridged the outside and two Dell and how is it looking how are they feeling.
How is -- and -- -- become entrepreneurs -- they're really inspired to become partners in -- -- resource says.
Available to entrepreneurs like never before.
And I think that the work that we do you -- Dallas just one really good example about ways that even these large corporations are apparently reaching out that community insane.
That you are our future you're going to be the ones that rebuild our economy we wanna leverage our resources to help you be successful so there's no better time to start a business and somebody said that it seems to me that.
Most people being forced to become entrepreneurs can contain damage out at her house.
What I think that definitely happens to a lot of OK you know the entrepreneurial community is.
Built on people who go out there they try ideas some ideas don't work and that's part of the culture.
And so if you come into the culture and it's because journalists force to be part of them.
OK I mean there's there's all types any guests on earlier talking about lending it's still tight it's hard for small businesses to get.
Funding from the banks your thoughts on that.
Well that's one of the reasons that we started the hundred million dollars on -- credit -- center.
As a lifelong partner myself and how -- -- all kinds of different money and gone out and and received credit as well.
Yes it can be pretty challenging for entrepreneurs to gain access to credit.
And what we do Madonna -- credit fund is essentially.
Provide capital access to capital to you watch -- errors you want to believe that technology can be an accelerator to their business -- -- We want to help them get that done so we provide credit to make that possible.
And then we also have -- ventures which provides equity capital to fast growing companies they have to be -- -- down.
The small businesses have to be in touch with doubt absolutely I mean one of the reasons yet and they would know about this like had and they know that this is available to them ventured up.
That the that is my habit and thank you you know you're near -- -- agreement and I really appreciate that we actually want something on December 12 at the delta center for entrepreneurs -- say he got a Dell dot com for a -- hot corners and you can learn about all the programs that we have available.
To help launch partners succeed in business and you can learn about -- finance -- -- as well crowd funding appear to appear funding these are buzz words these days and your thoughts.
Well -- got a number of good friends that have started some of those companies and in fact I was in Washington DC yesterday at the the entrepreneurship address.
Done -- Kaufman.
And we have the founders of crowd finder from there and him and I think it's a fantastic way for entrepreneurs especially new launch partners to get going.
And be able to access capital and I also think it's a great way.
For people that do have disposable income that want to get involved in the markets it's really easy way for them to contribute.
And get involved and help these entrepreneurs be successful so I'm so happy to see it grow I am just so happy it's out there for -- -- Another Trey Anderson that I actually just recently learned about his his big -- IBM right.
It's actually employing a lot a lot of people have to cultivate all this information to give it to company is.
Is that going to help.
Well I think that it's a big day is a really interesting topic at the very popular topic you know is it and I just behind the wheel you know actually and it's it's also one of my very favorite topics because my first two companies are actually data mining data analytics companies -- -- -- is something -- That is near and dear my heart and we expect to see that market grow about 43% over the next ten years so it's something that we.
We expect -- businesses are trying to understand consumers face little -- at -- The idea behind big -- is essentially this I -- -- -- all drills down to is exactly that it's basically how we use information about our customers in the markets.
To really gain intelligence on what people actually -- and I think one of the exciting things about big data but also how it ties into.
How can Oscars and small business owners -- and it.
Is that we're bringing -- technology that's scalable -- Can help entrepreneurs and business owners gain access to business intelligence in ways that they never have before I sit as they start their businesses.
They can learn more about what is -- that you actually want as we wrap up here we're gonna put your web sites on the screen so brilliantly but I have a question coming from the chat and it's comes from lady -- who asks what about small business is just starting out how do they get loans it seems like those are the ones.
That we need loans the most.
And we discussed on this I believe I just wanted to.
Get to that chat to make sure -- highly aggressive usually read it and if you wanna -- and why is gonna say come and come December Roger Maris Telecom entrepreneur -- information there.
We certainly have options there but I also think the SBA continues to be.
A very popular place to go and get lands investigated small business in this yes I was with the the woman yesterday who -- the SBA and they are very aggressive on providing loans to -- we're just starting out as a don't overlook that that's a great opportunity for entrepreneurs thank you so much in his -- com slash entrepreneur is -- -- melt down -- -- resident thank you so much and thank you to everybody for watching -- back here tomorrow.
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