Katina Davenport: Enabling Small Businesses to Go Big

The startup game is truly risky, and for many small business owners, securing the funding to navigate the competitive landscape becomes a daunting task. While there are many reasons a startup fails to avail the necessary funding, risk-averse banks hesitate from investing either due to the unrealistic financial situation of the venture, underutilization of the management team, or lack of a clear go-to-market strategy. Katina Davenport, founder and CEO of K&D Consulting Enterprises, is a savior for such small business owners and budding entrepreneurs and directs them to alternate funding solutions.

The Birth of K&D Consulting

Katina has a bachelor's degree in International Relations and Affairs from the University of Michigan-Dearborn. A personal incident of struggle spurred her desire to help others who were in a similar situation. In 2020, the e-commerce business that Katina and her husband DeAndre owned took a hit as a result of the pandemic. While scrambling to secure funding again to revive their business, the couple discovered that many other small business owners were floating, rather sinking, in the same boat as them, and obtaining approval for funding to start or scale their companies was not easy. This gave birth to K&D Consulting Enterprises, where the couple helps small business owners get the credit-building support and funding that they need to be successful.

The Intent Behind K&D Consulting

According to research, a majority of Americans dream of starting their own business but fail to turn them into reality. The most significant factor preventing people from following their entrepreneurial passion was found to be lack of funding and access to knowledge and right business tools. A global pandemic brought with it immense job losses, and many businesses got shut down, leading individuals to start their own small ventures. Katina is of the opinion that given the money, tools, and knowledge, small businesses can flourish once again. This is where K&D Consulting Enterprises offers the much-needed support and encouragement to such entrepreneurs to sail through tough times. Although it may seem like entrepreneurship has reached a cultural apex in the US, the numbers indicate that the economy is cooling due to insufficient access to capital and a lack of knowledge about the available tools. Therefore, Katina wants to do her bit and aid aspiring business owners in all facets of their journey.

Services and Programs

Although the primary business of K&D Consulting Enterprises is assistance in securing funds from non-governmental and governmental agencies, there are several other programs that are on offer as well. With core values in prosperity, wholeness, and wellness, the company has an immensely efficient marketing division that equips owners with the tools to acquire business credit which is paramount for any enterprise to flourish. Among others, there is a Business Credit Building Program to build credit and secure funding, Business Funding Program to match companies with third-party lenders eager to fund their business, and Personal Development Program to help business owners develop leadership skills besides establishing a work-life balance.

Katina believes that most businesses make the mistake of using their own money for day-to-day operations, which can have a negative impact on the venture in the long run. Therefore, she helps business owners separate personal and business credit so that they do not lose out on investing in other vital necessities in life like travel or children’s education. "We work in partnership with a team of finance professionals who help our clients get pre-qualified for funding at no risk to their personal credit scores. They carefully explain the terms and documents needed for the funding options that are suitable for the specific needs of their businesses," Katina added.

At K&D, the clients are provided holistic training so that they know where they stand and how they can achieve their entrepreneurial goals. Katina has learned that many business owners do not even know what their credit score is or even get their phone numbers listed. Therefore, taking them through the whole process through coaching and mentoring makes them realize their position and understand how they can start building their dream businesses.

Coaching 1-on-1

After Katina and her husband established K&D Consulting Enterprises, they soon realized that a lot of business owners were deterred by lack of funding and, therefore, decided to help them secure funding in addition to providing holistic coaching and mentorship. However, Katina also believes that when it comes to making the entrepreneurial journey smooth, personal development plays a huge role.

By offering personality development programs, Katina helps small business owners align themselves with their work and social life. "Even after securing funds, there are a lot of things that businesses can get distracted with or succumb to. So, we intend to teach them healthy habits that business leaders and owners need to inculcate to stay focused. Social media is a major concern, and one might get distracted or discouraged by others. People must believe in their business and what they are doing. It is the only thing that can allow them to have confidence in their enterprise. Our consultation taps into all these areas," Katina said.

End Thoughts

Katina's motivation to keep going ahead despite facing losses in her business earlier comes from the thought that as long as she was working, things would turn around and eventually fall into place, and she just had to take things slowly. Among other things, she hosts a TV show along with her husband where they discuss a spectrum of relationship topics, including finances, love, parenting, and sex, and help couples navigate the issues at hand.

In advice to the women out there who want to get into entrepreneurship or are struggling to build a business, she says that they should stay motivated and surround themselves with the right people. "If you can get to people who can help you, motivate you, mentor you, and coach you, it is an investment. Tap into all the resources available and learn what policies are in place for your business. There is more than one way to get funding, so just try to know about all available options," Katina said, while speaking with WomLEAD Magazine.