Carol Terrell is the perfect example of practicing what you preach. The founder and owner of Onyx Capital Enterprise, Carol helps her clients reach their financial goals through education and coaching. And one of the reasons she’s so good at it is because she was her own first client.
Built from the ground up
While Carol started out with good credit, she fell on hard times and battled homelessness. She took control of her life and put herself on a 50/20/30 budgeting plan. She cleaned up her credit. She was militaristic about staying in her debt to income ratio. And she did it all above board, refusing to fall victim to promises of fast-fix credit schemes.
“Like I tell my clients every day, it took 9 years to rebuild the right way,” she says.
Today, she describes herself as a financial resource to help businesses and people get back on track with their credit. Through coaching and education, she encourages smart decision making and helps her clients understand the psychology behind the choices they make both in managing business and personal finances.
The most rewarding part of her work, she says, is “helping people get back on track and seeing them actually reach their goals.”
Representing Black business owners
She is particularly proud of representing the underserved community of Black business owners.
“For me as a black business owner, being able to empower my race to go from a learned mindset to a growth mindset, which opens up and fosters wise decision-making and opportunities for financial freedom.”
Her advice to existing and aspiring Black entrepreneurs would be to “allow your ambition to fuel and ignite your passion and your purpose.”
She adds, “Success comes from that one thing that you are so passionate about and that one thing that you believe so much in, which ignites your ambition to never give up until it becomes your reality.”
Capital on Tap and Onyx
Carol loves her Capital on Tap Business Credit Card because “it can be used most anywhere.” She adds, “I keep everything on autopay because you can have so many bills and if you forget one, that’s the thing that will drop your credit.”
Carol is also planning for substantial growth, and will look to her Capital on Tap Business Credit Card, issued by WebBank, to aid in her expansion. With plans to add an insurance agency extension to Onyx, Carol will soon be investing more in resources like marketing, where she will enjoy unlimited free 1.5% cashback on all purchases - that will go directly back into her business.
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