MKG ENTERPRISES CORP Alternative Banking Service

February 13, 2018





For Immediate Release


February 11, 2018



Marshawn Govan President, CFO

MKG Enterprises Corp. Financial Services

Toll-Free 866-675-3933 | Direct (559) 412-7248 | Email

Investor Relations:


MKG ENTERPRISES CORP Alternative Banking Service


MKG Tax Consultants provides income tax preparation, bank products services by providing no upfront tax preparation fees. MKG Enterprises Corp is a African American Owned  and operated C-Corp and California licensed finance company offering alternative financial and banking solutions.” Mr Govans firm is a rare boutique VC Venture Capital firm that the average american consumer can invest in like Acorns and have an equity stakeholders in underbanked products.


The Company was founded in 2013 by Marshawn Govan.


It currently has a staff of 4 people, and is slated to expand further.


The Company was initially capitalized in late 2010 by an investment of $7,500.00 of which the investment was from Marshawn Govan. The Business's first product was introduced to the market in December 23, 2010 and has been marketed successfully till date. As we have grown and evolved since that time, we had the following key milestones in the development of our business:






●        Invent Help has agreed to package and market MKG Tax Refund to 100 US companies

●        Created first mobile tax software that offers alternative banking

●        Filed provisional patent

●        Already filed Regulation D and CF with SEC.

●        Licensed insurance agency with a footprint in CA, TX, NM, FL, OR, WA, NV, ID, AZ

●        Offer our customers 100% satisfaction guaranteed

●        eChecks technology pay anytime, anywhere checks delivered at the speed of an email

●        Integration cloud-based communication, collaboration solution integration with Bitrix24


“Mr Govan" invention is considered one of the most innovative mobile app platform created by an African American Entrepreneur in the 21st century the will revolutionize the tax industry." combining mobile payments, tax preparation and tax refund together. As a leading tax preparation technology company, and we continue to grow our share in tax refund bank products -- we are able to leverage our financial products to become the fastest growing black owned tax refund software provider in the US market.”


Why the low income and middle class Americans need Mr Govan mobile tax refund loan app.


The tax industry is a seasonal business as more consumers rely on using their mobile phone devices nowadays Americans Check Their Phones 8 Billion Times a Day.


Mobile payment apps have been around for years, but companies like Apple, Google, and Samsung have all launched new tap-to-pay services in the 2014-2015 timeframe. "We're seeing a perfect storm of technology in the mobile device that the african american community can tap into this tax industry technology in the open market, and do-it-yourself tax preparation web based and IRS free file applications being put into the retail tax industry environment. The african american community has faced financial disparity with limited access to capital and Mr Govans invention empowers african american to support small businesses.

The vast majority of Americans – 95% – now own a cellphone of some kind. The share of Americans that own smartphones is now 77%, up from just 35%

MKG Tax Refund is a alternative banking mobile finance and  tax preparation processor (P2P) Peer-To-Peer  lending app accessible to 95% of  low income and middle class American who electronically file their taxes.


Our tax preparation revenue was a rapidly growing area of our business, with growth in the year ended 12/31/2013 of 27.27% as compared to the same period in the prior year. This recent growth was largely driven by repeat business and brick and mortar office being open year round and visibly located in a metropolitan residential neighborhood. In contrast, our revenue from income tax preparation dropped in the year ended 12/31/2016, at (-21.47%)  as compared to the same period in the prior year. This decrease was largely driven by relocation of  our customer base and rapidly expanding and overstaffing reducing our focus on providing excellent customer service.


 Mr Govan believes that his services are a great benefit to the underbanked american community by educating our clients on how to reduce their tax liability and adjust the withholding from their individual paychecks. MKG Tax Consultants has achieved loyal clients that seek our professional service. Success is measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of price, service, and expertise.


Mr Govan company also engage in insurance and financial services. The Company is also developing innovative packages nearing beta test stage, which can be expected to produce revenue before the end of the financing period. The Company is also gearing up for introduction of its products into US markets.


Mr Govans company MKG Tax Consultants has assisted thousands of tax clients and is experienced in supporting customers financial needs and providing free tax education and health insurance resources in the community. The firm offers tax preparation to individual taxpayers as well as to small business clients. The client has choices in tax preparation; health insurance, auto, and property and casualty insurance enrollment center however we stand out as an affordable solution that incorporates certified industry knowledge, a professional and courteous staff and an invaluable guarantee.



The market for income tax returns utilizing a paid preparer has steadily grown both in number of returns prepared and as a percentage of all returns filed.  In addition, the Internal Revenue Service (“IRS”) projects that the number of individual returns filed will grow by approximately 2 million returns a year through 2017.

MKG Enterprises Corp believe consumer demand for tax preparation services will continue to increase due to the following factors:


●      Complexity:  Tax law changes have consistently fueled the growth of the paid preparer segment as filers have turned to professionals in order to prepare accurate federal and state income tax returns.  Ironically, the Company has found that even tax law changes aimed at simplifying the tax code have added to the confusion of many filers, thereby increasing their desire to utilize professional preparers.

●      Convenience:  Taxpayers have also turned to preparers in increasing numbers because of the demands on their time.  The increasing number of dual income families and demanding work schedules should continue to fuel this trend.

●      Ancillary Services:  Paid preparers have developed services beyond tax preparation such as refund-based bank products, including electronic refund checks (“ERCs”) and refund anticipation loans (“RALs”).  For the most part, these services are purchased by low to middle income taxpayers.

Competitive Advantages to the low income and middle class american community


Mr Govans company is able to competes primarily with other businesses offering similar services, including nationally franchised tax preparation services, accountants, attorneys, small independently owned tax preparation services, and financial services businesses.  In addition, the Company competes with individuals who prepare their own tax returns either manually or using tax preparation software.


Furthermore Mr Govans ability to compete with this market segment depends on the geographical area, specific site location, local economic conditions, quality of office management, ability to file tax returns electronically with the federal government, ability to offer related services advice and ability to facilitate Refund Anticipation Loans.

Mr Govans expects to provide a higher level of service, a wider array of products, and a more streamlined process to those seeking quick and economical tax preparations.


A competitive advantage for MKG Tax Consultants over that of many of its competitors is its locations and access to large groups of potential customers.


Mr Govan has developed a tax refund related loan product based on income and ability to repay that's available year round until October 15th e-file deadline.


 MKG Enterprises Corp D/B/A MKG Tax Consultants provides speedy delivery of tax return filings.  It was fully distributed for the 2016 tax season and was an unquestioned success.  A third advantage is MKG Enterprises Corp D/B/A MKG Tax Consultants capability of in-house e-filing. In-house e-filing enables MKG Tax Consultants to file directly with the IRS instead of going through an outside vendor resulting in faster return turnaround time for the customer. 


You can also view further information on MKG Enterprises Corp. Form D filed March 14, 2017 ET


​Primary Industry: Other Banking and Financial Services


​Who is raising money




Find The Company


Banking and Financial Services

Introduced in 2016



General Market Description:

The payday advance service emerged in the early ‘90s, and grew as a result of strong consumer demand and changing conditions in the  financial services marketplace. A number of changes in the throughout the country marketplace prompted industry growth, including: The exiting of traditional  financial institutions from the small-denomination,  short-term credit market—a change largely due to its high cost structure; The soaring cost of bounced checks and overdraft protection fees, late bill payment penalties, and other informal extensions short-term credit to of short-term credit; and The continuing trend toward regulation of the payday advance service, providing customers with important consumer protections.

Drivers for Adoption:

Today, payday loan stores  fill the need for small dollar, short-term credit in communities services marketplace. A number of changes in the throughout the country. Industry analysts estimate that 20,600 payday advance locations across the United States extend about $38.5 billion short-term credit to millions of working Americans in 19 million households who experience cash- flow  shortfalls.

Barriers to Adoption:

CFPB Consumer Financial Protection Bureau Considers Proposal to End Payday Debt Traps (CFPB) announced it is considering proposing rules that would end payday debt traps by requiring lenders to take steps to make sure consumers can repay their loans. The proposals under consideration would also restrict lenders from attempting to collect payment from consumers’ bank accounts in ways that tend to rack up excessive fees. The strong consumer protections being considered would apply to payday loans, vehicle title loans, deposit advance products, and certain high-cost installment loans and open-end loans.


Overcoming Barriers to adoption  and solutions


MKG Enterprises Corp tax refund solutions reduces the debt trap by 80% since the amount of the advance is deducted from tax refunds and reduces the amount that is paid directly to the taxpayer. And freeing up a consumer cash flow allowing them be debt free from being in the payday debt trap.


Reduction of debt trap, Responsible Lending


Before a consumer is approved they must


a.      be eligible for a tax refund,

b.      not owe child support, Federal or State tax debt

c.       no FMS debt indicator and must complete FMS form 13 Authorization for release of information. The Financial Management Service (FMS), a bureau of the United States Department of the Treasury, provides central payment services to Federal Program Agencies, operates the federal government's collections and deposit systems, overseeing a daily cash flow of $89 billion. FMS provides government-wide accounting and reporting services, and manages the collection of delinquent debt owed to the government. FMS also supports federal agencies' financial management improvement efforts in the areas of education, consulting, and accounting operations.

d.      MKG Money Service Business uses Corelogic Teletrack credit inquiry, risk assessment tool in order to pre-qualify applicants for RAC’s.

e.       ATR Ability To Repay guidelines proof of income, CIP Customer Identification Program and KYC Know Your Customer.

f.        Current filed all tax return to present tax year

g.      Active checking account

h.      Provide acceptable collateral to pre-qualify for auto title equity loan

i.          vehicle must meet LTV Loan To Value requirements $1,882


Case Studies:


 In 2009, the George Washington University School of Business released a comprehensive economic analysis of consumer demand for, and use of, payday advance services. The study was conducted among a national representative sample of customers of CFSA member companies.


The Community Financial Services Association of America (CFSA) is the national organization dedicated to advancing financial empowerment for consumers through small dollar, short-term loans. Now in its 16th year, CFSA was established to promote laws and regulations that protect consumers, while preserving their access to credit options, and to support and encourage responsible industry practices. Source cited:



 It found that: Customers overwhelmingly appreciate the payday advance product. 86 percent of customers believe it is a useful financial product. 88 percent were satisfied with their last transaction. Customers use the service responsibly. 71 percent of customers use payday advances to cover unexpected expenses or a temporary reduction in income. 58 percent of customers either did not renew in the last year or renewed only 1 -2 or 3-4 times. (“Renewals” include both rollovers and advances taken out the same day another was paid in full.) Customers understand the cost of the service. 95 percent of customers were aware of and reported the nance charge and could compare it with similar fees. 81 percent of customers could recall that the fee had been disclosed as an APR, although most could not recall the rate. Most customers t the expected economic pro le of consumers in early life-cycle stages. Most come from middle-income, educated young families. 32 percent of customers own homes and 100 percent have steady incomes and checking accounts. Nearly 94 percent have a high school diploma or better; with 56 percent having some college or a degree. source sited from



Short term tax advances for individuals providing cash between paychecks, covering

Tax Advances Between Paydays


School bills, Doctor bills, Household cash, Unexpected auto repairs, Minor home repair, Medical prescriptions and Everyday expenses!


Tax Advances to Cover Expenses


Gas bills, Electric bills, Medical fees, Personal cash emergencies, Moving expenses, Extra food and groceries, Cash for business expenses!


Tax Advances are not intended to meet long-term financial needs, but only a short-term need. Consumers should seek credit counseling for credit difficulties. A small tax advance not intended to meet long term financial needs. A small tax advance should be used only to meet short term cash needs. The cost of your small tax advance may be higher than loans offered by other lending institutions. Small loans are regulated by the State of California Department of Business Oversight.


A borrower may rescind a small tax advance without cost by paying the cash amount of the principal of the small tax advance to the lender not later than the end of the business day immediately following the day on which the small tax advance was made.


Consumer lending markets that employ risk-based pricing display attributes benefiting

consumers and the macro economy.



Fairness: The vast majority of credit decisions today are based on objective data

regarding a borrower’s own past payment history and current obligations. The use

of credit scoring and risk-based pricing have dramatically increased the

consistency of a creditor’s lending decisions and the likelihood of equal treatment

across tens of thousands of applicants. As a result, American consumers can get credit,

insurance, and a host of other financial services based on their own credit records, not

their family name or how long they have known their banker. In addition, they can rent

apartments, purchase cell phones and cable television service, and rent automobiles

without either large deposits or an established relationship with the service provider, all

because their reputation for paying as agreed on is documented through their credit

reports. Compared with a one-price-fits-all system, a borrower in a market characterized

by risk-based pricing is also less likely to be paying for the costs imposed by someone

else’s behavior. Further, risk-based pricing rewards borrowers who adjust their behavior.

Borrowers can qualify for a lower-priced loan by improving their financial position and

credit behavior.


Financial Inclusion: Credit scoring and risk-based pricing triggered a

massive expansion in credit opportunities for American consumers across the

socioeconomic spectrum. Between the early 1980s and 2001, the lower half of

the income distribution experienced 200%–300% increases in the percentage of

households with access to general purpose credit cards and 30%–70% increases in access

to other types of consumer loans. Broadly developed consumer loan markets are

particularly important for householders early in the life cycle (ages 20–45) when the

demand for housing, durable goods, and education is relatively high and incomes are

relatively low but expected to rise over time. Yet access to credit is also important for

households weathering temporary income disruptions or unexpected expense shocks.

Over the past three decades, tens of millions of U.S. households have gained access to a

credit “bridge” that can sustain them through temporary disruptions and declines in incomes.


Innovation: One of the virtues of credit scoring as a decision assistance tool is

that new data improve the ability of these models to fine-tune a lender’s

assessment and pricing of risk. And competitive lending markets encourage an

ongoing “champion-challenger” evolution that increases the accuracy of these tools.

An excellent example is the recent inclusion of alternative consumer payment data from

apartment rentals and utility payments. Incorporating these data into scoring and loan

pricing is dramatically expanding credit availability to 30–55 million American

consumers who were previously underserved by conventional loan markets. Rather than

shutting these individuals out of the market, scoring and risk-based pricing have given

lenders the tools and incentives that they need to say yes to loan applications from a far

wider cross-section of the population than ever before.


Economic Growth: Over the past three decades, tens of millions of U.S.

households have gained access to credit, helping finance the purchase of a car to

get to work, a home to raise a family, or an education to give a child the skills to

succeed. Small business owners use credit, even personal credit, to finance

equipment or materials purchases, or even use the “float” to make payroll in a pinch.

Responsible consumption, often using credit, is a key driver of economic growth. And

these benefits are a direct consequence of competitive pressure in the lending industry to

find more efficient decision tools for making loans.


Restrictions in the form of regulation that would limit the use of either credit report information

or the various scoring and pricing tools that have been built with that data, or enforcement

doctrines like disparate impact that implicitly challenge the use of objective criteria in lending

and pricing, would stifle innovation, reduce the potential for improved models to bring their

enormous benefits to consumers across the credit spectrum, and roll back many of the benefits already obtained. In short, without sophisticated risk-based pricing, many higher-risk consumers would lose access to conventional loans altogether.















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