Rising Tide Entrepreneur Lori Childs Opens BCBL Credit Repair Solutions in Maplewood
Maplewood—The mayor of Maplewood and several town councilmen attended the ribbon cutting ceremony for BCBL Credit Repair Solutions at its new office in Maplewood, New Jersey on May 19. The business, which was founded by Lori Childs, aims to help people improve their economic future by increasing their credit scores.
“In the wake of these economic troubles, my desire is to help people live a better life with better credit,” Childs told community members during the launch event which included two credit repair seminars that were open to the public.
The mayor praised BCBL Credit Solutions in particular for helping people to secure housing with an improved credit score.
“Buying a house is such a major decision for people and you’re going to help our community with that,” said Mayor DeLuca.
Childs first enrolled in Rising Tide Capital’s Community Business Academy in September 2011 in order to start her own real estate company. However, during the course she realized that unless she could help people improve their credit, she would have to turn many people down for housing. After graduating from the CBA in December, she incorporated BCBL Credit Repair Solutions to meet this need. One month later, she opened an office on 1837 Springfield Avenue.
“When I came to the CBA I had a completely different idea of what I’d do for my business…I think if I had not done the CBA, I’d still be lost,” said Childs.
To help fund the startup cost of running her business, Childs searched the web for angel investors. Her hard work and determination paid off when she was recognized by an anonymous investor who agreed to provide funding for all her overhead costs- including rent, utilities and postage- for six months.
Today, Childs is working with 11 clients in six different states across the U.S. When one of Childs clients first showed up at her door, he had a score of 520, but after working with Childs to dispute errors on his credit score, he was able to bring his score to over 700- enough to close on his first home this month.
“I’m elated. It’s wonderful to see that I can make a difference in someone’s life with the work that I do,” said Childs, “To be here today, is a dream come true.”
Childs credits her instructors at Rising Tide Capital for helping her to launch her business. In order to say thank you, Childs promises to donate $25 back to RTC for every Rising Tide Entrepreneur that becomes her client.
“I believe in something my father once told me called the law of sowing and reaping. When someone gives to me, I find a way to give back, and what better organization to give back to than RTC? [My business] is here thanks to Rising Tide Capital and this is my small way of saying thanks.”
Connect with Lori Childs on the Rising Tide Exchange.