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New Online Bank PROFIT Helps Minority Business Owners By Doing Bookkeeping and Accounting for FREE

NEWARK, N.J.–(BUSINESS WIRE)–PROFIT is the first online business bank account that blends modern banking with accounting software in one platform – automatically completing your bookkeeping and accounting for free.

PROFIT Founders F1
PROFIT logo color transparent

Founded by two software engineers who grew up in underserved areas (Newark, NJ & Union, NJ), Vin Montes & Frantz Romain personally know what it’s like to fend for themselves in an underserved financial business environment. Frantz Romain attended New Jersey Institute of Technology (NJIT) and Vin Montes attended Fairleigh Dickinson University (FDU) in NJ. They recognized the help minority small business owners needed and built a banking platform to help them.

PROFIT’s founders include:

  • Vin Montes, a prior business owner, US Air Force veteran, and software engineer who developed a global financial spend application for UPS.
  • Frantz Romain, a prior business owner, and software engineer who worked with Mr. Montes for two years developing a global financial spend application for UPS. The technology he built with Mr. Montes was awarded Red Hat’s 2018 Global Innovation Award (prior winners include Barclays, Deutsche Bank, & BBVA)

PROBLEM

Minority small businesses continue to be underserved by banks. Lacking support from the financial industry, they struggle to access capital and easy-to-use financial tools. Overwhelmed with responsibilities, most minority business owners lack the time and financial background to manage complex accounting software.

THE PROFIT SOLUTION

PROFIT’s founders decided to build the first All-in-One business bank account with accounting technology that does their member’s bookkeeping and accounting for free.

“We personally know what it’s like to be left behind and fend for ourselves in an underserved environment. This motivated us to build a technologically advanced bank that would take some of the financial burdens away from underserved business owners so they could focus on growing their business the best way they can.” – CEO/Co-founder Vin Montes.

“It is hard for a business owner to know how their company is doing financially compared to their industry. To solve this problem we provide our members with real-time Profit & Loss statements that benchmark their net profit with their industry’s average. This helps the owner understand how their business is doing financially compared to their industry. – CTO/Co-founder Frantz Romain.

PROFIT also captures receipts via text message & automatically matches them to the correct transaction. It then auto-reconciles all their accounts saving their members days of tedious accounting work.

PROFIT GIVES BACK

Black and Latino business owners are half as likely to be approved for bank loans than Whites. That was the case even when Black, Latino, and White applicants were all categorized as low credit risk, according to a 2020 Federal Reserve study. As further validation of the uphill battle Black & Latino’s face in getting the business help they need, Forbes published that 37.9% of Black businesses reported being discouraged from applying for a business loan, compared to 12.7% of white-owned businesses.

PROFIT’s founders experienced this first-hand when they were turned down for a business loan.

To help alleviate the problem, PROFIT offers all their members a 0% interest revolving line of credit. “We take a portion of our revenue and fund a revolving line of credit for all our members. We know what it’s like to be turned down for loans even if you have a good business. We do not ask for a credit check and the funds are available the next business day.” – CEO/Co-founder Vin Montes.

ASK

If you would like to help or support PROFIT’s cause in any way please contact info@bankwithprofit.com.

To sign up for a PROFIT business bank account or to learn more, visit www.bankwithprofit.com.

Contacts

MEDIA INQUIRIES

Vin Montes

CEO & Founder

info@bankwithprofit.com
Media Kit: https://www.bankwithprofit.com/post/media-kit

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Max Appenroth: Transgender Experience Focused Healthcare Consultant

In this episode of OutBüro Voices featuring LGBTQ professionals, entrepreneurs, and community leaders from around the world, host Dennis Velco chats with Max Appenroth: Transgender Experience Focused Healthcare Consultant based in Berlin, Germany.

Max is a male of transgender experience and has had to navigate the public medical system of Germany where doctors are assigned. The assigned doctors were generalists with little to no experience with transgender patients. This led him to have in most cases to educate his doctors on what he needed and how to best treat him. Max is striving to educate the health care and pharmacology community on how to best be inclusive and respond to the sensitivities and needs of the transgender community as patients. His education is inclusive helping companies and organizations be wider and fuller in their diversity, equality, and inclusion.

Gender Identity is the feeling of self whereas sexual orientation is the desire towards.
https://outburo.com/understanding-gender-identity-expression-101/

Building your gender-neutral language may seem odd at first, but like all things, the more it is used the more natural it will be.

Max and I discuss how languages that are gendered such as German in where a table is masculine e and a door is feminine creates boundaries for the transgender community. In many cases, the neural term “their” is used. However in German “their” is “Sie” and she is “sie”. It is spelled and sounds exactly the same. The only difference is the capitalization. Language shapes reality and can I fluence how one perceives themselves. In languages that use verbs gender, they must take extra care to form inclusive language.

LGBTQ persons are less likely to receive the care they need due to fear of discrimination. The LGBTQ community experiences life struggles at a greater level and may need more self-care time than other employees. This was in part the reason Max formed his own company to set his own schedule to have the flexibility to be his healthiest self. Employers could implement flexible schedules that would benefit all employees and the employer-supported by numerous studies.

To connect with Max find him on OutBüro here. https://outburo.com/profile/max/

Join me and Bruce on OutBüro, the LGBTQ professional and entrepreneur online community network for gay, lesbian, bisexual, transgender, queer, allies and our employers who support LGBTQ welcoming workplace equality focused benefits, policies, and business practices. https://www.OutBuro.com

Would you like to be featured like this? Contact the host Dennis Velco. https://outburo.com/profile/dennisvelco/

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Ashley Brundage: Empowering Differences Author and Transgender Activist

In this episode of OutBüro Voices featuring LGBTQ professionals, entrepreneurs, and community leaders from around the world, host Dennis Velco chats with Ashley Brundage, author, transgender activist, and VP of Diversity and Inclusion for a national financial institution.

Ashely’s journey is remarkable and inspiring. When faced with homelessness and a family of four counting on her she was pretransition trying to find a job. Frustrated with seeking employment while presenting as male not being true to herself, one day she said enough. From that point forward with her family’s support she started the job search for a new career being authentically Ashley. During that period she realized the additional struggles of seeking a job as a transgender person but leaned into it educating the potential employers on how she could be a bridge to the LGTBQ market.

OutBuro 1-50 Ashley Brundage transgender author empowering differences diversity inclusion lgbt professionals entrepreneurs community talent acqusiton employee ratings

After landing a part-time bank teller position she leveraged transgender conferences to prospect customers. She quickly became one of the top producing banking agents in the entire company. We chat about the burden of being an out transgender person working in the public sphere and how to leverage the 10 steps to empowering difference to grow professionally. Additionally how she created relationships with peers and mentors within the company to coach her. Ashley understands mentorship well, she says, “mentorship is a two-way street. Both should be getting something out of it”. I couldn’t agree more.

In Ashely’s new book, Empowering Differences, she has outlined her 10 steps to empowering differences starting with empowering yourself with confidence and knowledge. Further, she states that the book is well suited for persons in a sales role. After all, sales are about relationships.

Connect with Ashley find her on OutBüro here. https://outburo.com/profile/ashleytbrundage/

Join me and Ashley on OutBüro, the LGBTQ professional and entrepreneur online community network for gay, lesbian, bisexual, transgender, queer, allies and our employers who support LGBTQ welcoming workplace equality focused benefits, policies, and business practices. https://www.OutBuro.com

Would you like to be featured like this? Contact the host Dennis Velco. https://outburo.com/profile/dennisvelco/

Kinner - Empowering Lives and Creating Dignity with Every Bottle of Water - LGBT Employees Rate Employer Review Company Employee Branding OutBuro - Corporate Workplace Equality Gay Lesbian Queer Diversity Inclusion

Kinner – Empowering Lives and Creating Dignity with Every Bottle of Water

I was recently first connected with Laxmi Narayan Tripathi via our OutBüro on LinkedIn Group and connected directly as a 1st-degree contact when I noticed a posting from her in the group about Kineer Drinking Water.  She is a transgender activist and social entrepreneur that works tirelessly for the transgender community in India and thereby around the world.  She’s an activist, entrepreneur, dancer, actress and more than anything a compassionate human who is leveraging her skills and energy to help others to belong, be safe, feel dignity and be empowered.

We at Kineer are at empowering the transgender/third-gender Indian community with employment opportunities and more.

You cannot get through a single day without having an impact on the world around you.  What you do makes and difference, and you have to decide what kind of difference you want to make.  – Laxmi Narayan Tripathi

Kineer - Water Education Services Empowering Transgender Community in India - Outburo - Gay Professional Networking LGBT Business Startup News Queer

India’s transgender women community, or Hijra, has been a part of the subcontinent for about as long as civilization has. With a recorded history of over 4,000 years and is mentioned in ancient texts, the Hijra community is a testament to the sexual diversity that is integral yet often forgotten in Indian culture.

However, when the Indian subcontinent came under colonial rule during the 19th century, British authorities sought to eradicate and criminalize the Hijra community through various laws. These laws were later repealed after India attained independence.

While the Hijra community is still revered by society at large and celebrated in religious and spiritual ceremonies, they are often the victims of abuse and discrimination. Violence and hate crimes against the community are common, as is housing and other harassment and discrimination.

Although the hijras are human beings full of efficiency and human dignity beyond the male-female dichotomy, the government has not taken proper initiatives for their upliftment. Our society has just rejected their different physical complexities.

Hijras are boycotted from their own family, society, and state. Their own family hides them to cover the so-called ‘shame’ and neglect the truth that hijras are not responsible for what they are. Society ignores the reality that they are just the third gender. Their gender is naturally constructed as diverse. For their diverse identity, they cannot even inherit their family properties. Their funeral activities are also not functioning properly as the persons related to those rituals are not willing to conduct funeral activities when he comes to know that it’s a dead body of a hijra!

Although some attempts are taken for the hijras by the government and some non-governmental organizations who work for conserving human rights, those are really insufficient. We cannot step forward leaving these people having diverse gender identity far behind. Obviously, they have the ability to serve various sectors, but at present, they are not playing that role just because of not getting an opportunity. They could become talented doctors, engineers, intelligent scientists, scholars and what not?

Laxmi Narayan Tripathi - Kineer Packed Bottled Water - Transgender Activitist Entrepreneur Business Startup Gay Professional Networking LGBT QueerCreating a Solution Through Water

The plight of the Hijra Community (Third/Neutral gender) is not hidden from anyone but still, no action has been taken towards providing a sustainable employment/ income source for them. They are left with a choice to either beg on the roads or to indulge in Skin Trade. It was surprising to see that the grants too were only focused on ways of distributing condoms or taking HIV/ safe sex sessions. Which we feel is just another way of labeling/ approving their indulgence in the skin trade.

Kineer Seeking Corporate Customer Partners and Distributors

Kineer Drinking Water is seeking direct corporate customers who serve water to their customers/staff as well as distributors.  This is social entrepreneurs where when you serve Kineer Water you are making a statement that you support empowering the community with jobs and a future of safety and security.

If you serve bottled water for any reason, you are a perfect corporate partner customer.  Kineer would appreciate the opportunity to provide the refreshing water you need and the transgender community will be grateful for your support of their employment and lives of dignity.

Water Not Kineer’s Only Product or Service to assist the  Community

Most entrepreneurs work tirelessly to realize the potential of one business.  Laxmi formed Kineer Services which not only has the drinking water brand yet the following services/products:

  1. Kineer Packaged drinking water plants
  2. Kineer - Water Education Services Empowering Transgender Community in India - Outburo - Gay Professional Networking LGBT Business Startup News Information QueerKineer Cosmetics and washroom amenities range
  3. Kineer Education platform
  4. Kineer Mental health Helpline
  5. Kineer National Cricket league
  6. Kineer manpower Placement and Diversity inclusion platform
  7. Kineer corrective surgeries helpline
  8. Kineer Security Services
  9. Kineer Dance and fine arts academy
  10. Kineer BPO
  11. Kineer apparels and lifestyle accessories
  12. Trans Queen India events

Kineer Services Pvt. Ltd was formed with a vision bringing about a Paradigm Shift for the members of the sexual minorities. They are not only working towards creating dignified employment opportunities for the members of the sexual minorities but is also working towards ensuring the mental and physical health of this neglected community is taken care of.

About Laxmi Narayan Tripathi

She is the Acharya Mahamandaleshwar of the Kinaar Akhada, a transgender rights activist, dancer, and actress. She was the first transgender person to represent Asia-Pacific at a UN task meeting in 2008 and represented the region again at the 20th International AIDS Conference in Melbourne. She works with numerous NGOs, including the Astitva Trust, the Asia Pacific Transgender Network and Maharashtra Trithiya Panthi Sangatana, to promote the equality of transgender individuals. She was one of several petitioners in the Supreme Court’s landmark judgment recognizing the ‘third gender’ and is a member of the core committee set up by the Ministry of Social Justice and Empowerment for Transgender Rights and Upliftment. She is the subject of two books, Me Hijra, Me Laxmi (written by R. Raj Rao) and Red Lipstick: The Men in My Life (written by Pooja Pande).


Are you an LGBTQ entrepreneur or know of another we should interview and write an article about?  Provide us a little bit of information and contact information.

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