Leverage Credit to Build Wealth with Herman Dolce

In this episode of the DealQuest Podcast, we’re joined by Herman Dolce, the visionary founder of Bella Sloan Enterprises and a go-to financial coach when it comes to credit repair and business funding. Herman's all about using credit as a tool for building wealth, and he’s got some amazing insights to share.

Through his Bella Sloan Academy, which has grown to over 5,000 members, Herman has helped thousands of entrepreneurs secure the funding they need to take their businesses to the next level. His expertise has been featured on platforms like Earn Your Leisure, TEDx, and Yahoo Finance, where he champions the power of financial literacy and the importance of understanding credit.

Coming from an immigrant family, Herman’s mission is all about helping others break free from financial limitations and build generational wealth. In this episode, he’ll share his best advice on how to leverage credit and financial strategies for lasting success.

THE SECRET SAUCE OF A DEAL MAKER'S MINDSET

You’ve probably heard about the difference between an employee mindset and an entrepreneurial one, but let’s take it a step further: the deal maker’s mindset. Herman Dolce’s story is the perfect example of what sets deal makers apart.

When Herman tackled his first real estate deal—a rundown row home in Philadelphia—things didn’t exactly go smoothly. The house was a mess, practically falling apart, and there was no way to add a much-needed second bathroom. Most people would’ve thrown in the towel right there. But not Herman. Instead of walking away, he got creative. He negotiated with the seller, came up with solutions that worked for both sides, and made sure everyone walked away feeling like they’d won. And guess what? That same seller ended up trusting him enough to sell him another property later on.

Here’s the takeaway: deal makers don’t just stumble upon opportunities—they create them. They see challenges as puzzles to solve, communicate clearly, and aim for win-win outcomes.

YOUR JOB AND BUSINESS CREDIT: THE UNSUNG HEROES OF STARTING UP

When it comes to funding your entrepreneurial dreams, Herman Dolce highlights two often-overlooked partners: your job and business credit. Many think bank loans, savings, or borrowing from family are the only options, but Herman offers a fresh perspective.

Your job, with its consistent income, can be your first funding source. Let’s say you have $500 left after paying bills—you could use that to test a simple idea, like buying t-shirts to resell for a profit. Once your idea gains traction, business credit can become your second partner. Herman explains how banks like Amex or Chase offer 0% interest business credit lines for up to a year, giving you access to larger capital. Borrow $25,000 on a card, and your monthly payment might only be $250.

The catch? You need to use that capital wisely. If you can’t turn $25,000 into enough profit to cover $250 monthly, it’s time to rethink your strategy. Success requires smart risk-taking and making the most of resources already within reach, like your paycheck and business credit, to fuel your growth.

TAKE SMART RISKS AND LEARN FROM MENTORS

Entrepreneurship involves taking risks, but as Herman Dolce explains, not all risks are created equal. The key is to take calculated risks—the kind that come with a plan. Before seeking outside funding, Herman advises using your own resources to validate your idea. If you’ve proven it works, the risk shifts from “Will this succeed?” to “How big can I make this?” With a solid foundation, funding becomes a tool for scaling rather than gambling.

But even smart risks can feel daunting without guidance. That’s where mentors come in. Herman credits his success to learning from those who’ve already achieved what he’s striving for. A good mentor can help you avoid common pitfalls, fast-track your progress, and focus your efforts on what works. Contrast that with advice from well-meaning friends or family who’ve never been in the entrepreneurial trenches—they caution you out of fear, not experience.

TEST BEFORE YOU SCALE: WHY PROVING YOUR CONCEPT IS KEY

When it comes to growing a business or making smart investments, you’ve got to prove your concept works before you scale up or seek outside funding. It’s the same strategy private equity firms use—they find businesses that are already thriving, then invest to amplify their success. You can follow this same game plan, even on a smaller scale.

Take Herman Dolce’s example of buying and upgrading a laundromat. Let’s say you find one priced between $250,000 and $500,000. Using an SBA loan, you’d only need to put down 10%—that’s $25,000 to $50,000. If you don’t have that cash upfront, tools like business credit cards can help you creatively finance the down payment. Once you own the laundromat, you can prove its potential by making strategic upgrades:

• Swap out old machines for modern, cashless ones.
• Add wash-and-fold services to attract busy customers.
• Offer delivery to reach more people and boost revenue.

Herman points out that these improvements can significantly increase the business’s value—possibly allowing you to flip it for a million dollars within two to three years. Before pouring money into any venture, make sure it works. Test it, refine it, and then focus on scaling. Whether it’s a laundromat or another business, proven concepts lead to real growth.

AUDIT YOUR CIRCLE: SEEK ADVICE THAT SUPPORTS YOUR GOALS

Who you take advice from is crucial. Herman Dolce learned this when he told his father about his entrepreneurial dreams, only to hear, “You don’t have a rich father. How are you going to start?” While his father meant well, his advice was based on his own fears, not Herman’s potential. That’s when Herman realized he needed to audit his circle and seek guidance from those who’ve walked the entrepreneurial path.

Friends, family, and peers often give advice based on their own experiences or limitations. Surround yourself with mentors who’ve achieved what you’re aiming for—or even failed in ways you can learn from.

People often can’t see your vision until it’s real. Don’t let doubts hold you back. Instead, find those who believe in your potential and can help you succeed.

BUILD STRONG RELATIONSHIPS WITH LENDERS AND SPEAK THEIR LANGUAGE

Lenders and banks should be seen as your secondary business partners. Just like you’d nurture relationships with clients or collaborators, building a strong rapport with banks can make a huge difference when you need funding. Banks are looking for borrowers they can trust and who know what they’re doing.

To put yourself in the best position:

• Present yourself professionally to banks and underwriters.
• Understand what banks look for—things like clean credit reports, organized finances, and strategic borrowing habits.
• Keep your credit card debt below 30% (ideally under 10%) and limit credit inquiries to avoid looking desperate.

By cultivating these relationships and presenting yourself as competent and prepared, you’ll increase your chances of securing the capital you need to grow your business.

PROFESSIONALIZE YOUR BUSINESS TO SECURE FUNDING

First impressions count, especially when you're presenting your business to lenders. Herman points out that small details can make a big difference in how banks view your credibility. To get your business funding-ready, make sure these basics are covered:

• Business name: Choose something professional and clear.
• Business email: Use your own domain (e.g., [email protected]) instead of a personal Gmail.
• Business address: Opt for a virtual address or registered agent instead of using your home address.
• Business phone number, website, and LLC paperwork: Make sure everything looks polished and professional.

These small, low-cost touches add legitimacy and show banks that you're serious about your business. As Herman puts it: "Banks like to give money to people who don’t look like they need it." By presenting yourself as prepared and credible, you build trust and unlock funding opportunities to help you grow and succeed.

ADAPT TO CHANGE AND BE A VISONARY

In today’s fast-paced world, businesses that don’t adapt risk falling behind. Herman Dolce shared an example from the dot-com boom of the late '90s and early 2000s. A venture capital firm refused to invest in the internet, thinking it was just a trend. Meanwhile, their competitor saw the opportunity, embraced the digital shift, and successfully transitioned their business online. This competitor ended up selling their company twice—first to a media company, then to a real estate firm, making a huge profit. The venture capital firm, on the other hand, lost money because they didn’t adapt, getting just 10 cents on the dollar.
If you want your business to thrive, you can’t afford to ignore changes like new technologies or shifts in the market. Successful entrepreneurs don’t just react—they think ahead and anticipate what’s coming. Just look at Jeff Bezos and Amazon. Bezos saw the potential of the internet early on, even when Amazon wasn’t turning a profit. His vision allowed Amazon to grow into the e-commerce giant it is today.
Embrace change, stay adaptable, and think ahead.

TRUE FROMDOM COMES FROM CONTROLLING YOUR TIME AND CHOICES

Herman Dolce shared a powerful take on freedom: it’s not just about money, but about controlling your time and decisions. For him, being able to spend time with family and travel without a 9-to-5 job is key. He shared how his business success allowed him to be there for his father during his final years, something that would’ve been impossible with a traditional job.

Herman’s story shows that real freedom is about flexibility—making choices that matter to you. Whether it’s time with loved ones or following your passions, building your own business and gaining financial independence is the way to live life on your terms.

Tune in to this episode to hear Herman Dolce share his expertise on leveraging credit, securing funding, and building generational wealth.

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Listen to the Full DealQuest Podcast Episode Here: https://podcasts.apple.com/us/podcast/dealquest-podcast-with-corey-kupfer/id1451959848

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FOR MORE ON HERMAN DOLCE
Herman Dolce's Instagram
Herman Dolce's LinkIedin
Herman Dolce's Facebook
Bella Sloan Enterprises
Bella Sloan Academy: They meet every single Wednesday night at 7:00 p.m. Eastern Standard Time see each primarily credit, business funding, and business acumen

FOR MORE ON COREY KUPFER
Corey Kupfer's LinkedIn
Corey Kupfer's Website
DealDen

Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!