TO: All B.O.B.S.A. Membership and Friends FROM: Sam Ennon, Founder and President of B.O.B.S.A. I’m writing this editorial, to inform you of my disappointment in an “”organization”” that we have been recommending to our vendors, members, associates and friends. As you know there are sharks out there, and everybody is not who they say they are! At this time, I will not mention the organization by name. However, they know who they are.
They should strive to be more trustworthy by professing to help “”the Black Community.”” The organization led me to believe that they had programs which would fund Black entrepreneur projects. To test their validity, I put together a program called “”Black Box Distribution Inc.”” brand-named “”The Black Box Barber Caddy.”” We joined their organization in good faith, and paid a monthly fee of $9.99 a month with the first payment being $19.99. Their funding program criteria was as follows: a) become a member of their organization; b) be a member for a minimum of three months; c) and submit your business plan or business model to them. We have been in this program for the last nine months. We were approved for $1 million in a written letter in April 2014. Over the last six months, we have been promised the funding on numerous occasions.
The last correspondence we received from was a letter of Spiral Funding Loan Commitment dated September 12, 2014. We signed and sent it back to the organization. We continued to provide requested follow-up documents needed to complete the deal. Each time we spoke with them about our projects, they had another excuse for when the funding would be available. We are done dealing with them – we have to immediately seek other resources to try and get funding for this project. I recommend NO B.O.B.S.A. associates proceed in doing business with this organization in the future. I will be writing future articles and comments about this organization, in which time I will name the organization and principles involved.
This is the second time that this happened with B.O.B.S.A. It happened exactly six years ago, when another organization (Black Shopping Channel [BSC]) approached us and made a lot of promises. BSC stated that they had the interest of the black community in mind, and really what they want to do is just take advantage of our community. In fact, I committed 350 B.O.B.S.A. members to participate in their business venture. Each one of the members contributed from $200 to $300, which resulted in a total disaster. Going forward, B.O.B.S.A. has to be more careful about who we trust and recommend to our members. Each time this happens, it makes it very difficult for us fulfill our responsibility to set the standard to “”Connect The Black Dots,”” and put our trust in organizations that claim their mission is to “”help the Black Community.”” Let me again apologize to all my Members and Friends for letting these sharks take advantage of us — NEVER AGAIN!