Day: October 28, 2020

New comment by bbrookeshf in "Ask HN: Who is hiring? (October 2020)"

REMOTE- JAVA Software Engineer at Health Fidelity, Inc. https://healthfidelity.com/careers/open-positions/?gh_jid=23…. Health Fidelity is a healthcare tech company. Our mission is to improve the quality of care and reduce the overall cost of healthcare by making the decision-making process more data driven. Our products will have an impact on the national healthcare infrastructure, as well as patients’ quality of life.

The post New comment by bbrookeshf in “Ask HN: Who is hiring? (October 2020)” appeared first on ROI Credit Builders.

Coping With the Covid Winter

Death rates have fallen sharply amid better care and treatments.

The Big Choice

Students debate the presidential election: Donald Trump vs. Joe Biden.

Find a Font: 19 Places to Find Free Fonts for Your Brand

You’ve started a business, brand, or website, and it’s time for you to start distributing content. Congratulations. What you might not be thinking about is how to find a font that represents your brand.

Sure, you know you’ll need to learn certain skills like how to write a blog.

But fonts might not be high on your to-do list — and they should be.

Here’s why:

Your typography affects conversions.

find a font why typography matters

Content that is easy to read and showcases what your brand is about can help drive traffic, increase conversions, and increase your chances of ranking higher in Google.

Here are the different elements of typography:

  • Typeface
  • Fonts
  • Line length
  • Leading
  • Kerning
  • Tracking

Your typeface is the characters that have the same design as your font.

Line length, leading, kerning, and tracking all have to do with space and difference between characters, lines, and letters.

Now you need to find a font — where do you go?

You want to search for fonts that are unique to your brand and easy for your subscribers to read and comprehend.

With so many business expenses, you shouldn’t have to spend money purchasing new fonts.

Not when there are thousands of free options available on the Internet.

I’ll show you the 19 best places to find a font for free. 

1. Font Freak

You can find over 9,000 free fonts from Font Freak.

find a font font freak

They also have more than 125,000 free fonts available for purchase, in case you want to upgrade.

Font Freak works with about 400 designers to continually grow their library of unique and creative fonts.

They even offer updated software so you can build and edit your own fonts.

One of the best features is that the majority of fonts are optimized for a Mac and PC version.

So you can discover new fonts suitable for your computer regardless of your operating system.

Font Freak also has some tools that can help you save time.

How?

Instead of downloading fonts one at a time, you’ll have the option to download entire libraries of different designs.

2. Creative Market

Creative Market puts a distinctive spin on the free fonts marketplace.

How?

They offer fonts, but these fonts change each week. Nearly 23,000 designers are contributing to their platform.

Every week, you can download their featured fonts, themes, and graphics for no charge.

Six packages are offered at a time, and they are pretty solid:

find a font free fonts

I like Creative Market because you can access free fonts that would normally cost a fee to download.

So you can check back every week and download an additional 6.

Just make sure you act fast.  Once the clock strikes midnight on Sunday, you’ll miss out on the free fonts from that week.

You can still download them, but you will have to pay a fee.

3. Fontspace

FontSpace has nearly 72,000 free fonts. They are all legally licensed and ready for you to download.

image15 7

As you can see from the image above, it’s easy to search for different styles by category, such as:

  • Trendy
  • Basic
  • Decorative
  • Fun
  • Extreme

And much more.

That’s just a quick glimpse into a handful of categories. All of their fonts are free and made by designers around the world.

There are more than 2,000 designers actively sharing fonts on the platform.

I like this website because all of the fonts are clearly labeled. You can tell right away if the fonts you like are for commercial use or personal use only.

find a font free licensed fots

Look at these four fonts.

See how the top and bottom ones are clearly labeled “Personal Use” only?

You may want to consider FontSpace for your brand if you would like to work with creative designers.

If you like one of their fonts, click on the profile to see more work from the same designers.

It shows how many times each font has been downloaded, and users can rate the design after each download.

4. The Northern Block

The Northern Block is another top option for free fonts. They currently only offer three fonts and loads of others for a small fee (usually around $50 or so.)

find a font northern block examlpes of free

I really like this platform because their website has a clean and simple design that makes it easy to navigate and find exactly what you’re looking for.

It’s a UK-based website that allows your company to work with creative designers from other countries.

Most of the fonts offered are modern and geometric.

These styles work well with companies in spaces such as:

  • Electronic manufacturing
  • Mobile video games

Check out their website for a chance to get free fonts from award-winning designers.

5. Fontstruct

For those of you who want to download free fonts and build your own fonts for free, consider FontStruct’s platform.

find a font free fontstruct

If your company has creative designers, you can let them use this free software on the FontStruct website.

Sometimes it’s difficult for businesses to find the best font with so many options to choose from.

That’s where FontStruct stands out from the crowd. Can’t find what you’re looking for?

No problem.

Build your own font.

Plus, you’ll know that it’s completely unique for your brand.

You will even have the option to modify existing finds built by other users on the website.

6. 1001 Free Fonts

Normally, it’s safe to assume “the name says it all” when it comes to a business or website.

That’s not the case with 1001 Free Fonts.

They actually have more than 10,000 free fonts.

You can download some fonts for free or donate to the designer.

find a font 1001 free fonts

The options are clearly posted on each font, as you can see from the graphic above.

Search for fonts by name or category.

With more than 10,000 options, I’m sure you’ll be able to find what you’re looking for.

7. Behance  

Behance is a creative social media platform owned by Adobe that offers thousands of creative designers — including tons of free fonts.

find a free font behance

One of my favorite designers Jeff Schrieber, a graphic designer from the Netherlands.

Jeff is a talented artist who specializes in:

  • Illustration
  • Graphic design
  • Lettering
  • Type design
  • Web design
  • Iconography
  • Logo design
  • User Interface design
  • Information design

He even offers fonts that are optimized for mobile applications — which is critical for businesses.

But fonts are just the first step; you also need to make sure your site loads quickly on mobile.

The majority of Behance’s fonts are paid, but there are still plenty of font options that are free.

8. Typedepot

Typedepot is another great resource to find a font for free.

find a font typedepot

You can clearly see which fonts are completely free based on the banner in the top right corner.

They have a cool blog that discusses different fonts and the evolution of letters and numbers over time.

The company was originally founded in 2010 as a side project for co-founders Alexander Nedelev and Veronika Slavova.

Typedepot is a great place to work with talented and passionate designers.

Download fonts for free or check out their premium designs available for purchase.

9. Fontfabric

Fontfabric offers free fonts for your brand. Like most of the other options on this list, they offer paid fonts, but there are plenty of free font options as well.

find a font  font fabric

Their website is clean, and it’s easy to download different fonts.

They don’t have the largest design library on our list, but they have plenty of free options.

Many fonts are simple and great for logos, which is great news because a well-designed logo can improve engagement on your website.

Fontfabric encourages you to use their fonts for your business. There are only a few designs that cannot be used for commercial projects.

It’s a great place to find fonts that are legible.

Sometimes the websites that include thousands and thousands of options have designs that you would never consider using for your brand.

That’s not the case with Fontfabric.

10. Font Squirrel

Font Squirrel has free fonts that are high quality and, most importantly, licensed for commercial use.

find a font free font utopia

They also have a really cool feature called the “Font Identifier” search.

Have you seen a font somewhere that you like?

I know I have.

I’ve spent time browsing through different fonts but couldn’t find a match.

The font identifying option from Font Squirrel lets you upload an image with the font you’ve seen from a random source.

They scan the image and help you develop that specific font or a font with a similar design.

Font Squirrel has a blog where users and contributors can discuss different graphic design and web font topics.

You can also create an account and discuss topics on their forum, which acts as a Q&A amongst their subscriber community.

11. Google Fonts

Google Fonts is the ultimate place to find and customize free fonts.

find a font google fonts

Once you find a font that you like, type your content directly on their website to generate a preview.

Then select how you want to display your words, such as:

  • Sentence
  • Paragraph
  • Alphabet
  • Numerals

You can also customize the pixel size from 8px to 112 px.

Google Fonts lets you further customize the display with options like:

  • Thin 100
  • Thin 100 Italic
  • Light 300
  • Light 300 Italic
  • Regular 400
  • Regular 400 Italic
  • Medium 500

Once you finish the customization process, you can copy the link to embed the font on your website.

find a font google fonts

Add one font at a time or add multiple font families to your website.

Google Fonts also lets you add or change colors to the fonts on their platform.

I would definitely recommend checking out their website as a quality resource for free fonts.

12. The League of Moveable Type

Visit The League of Moveable Type to find fonts like these for free:

find a font  the league of moveable fonts

Based on these few samples, you can see that their website has great fonts for your company’s website or logo.

Their fonts range from bold and black to bright and colorful.

Plus everything else in between.

The League of Moveable Type has been operating since 2009.

They also offer nice fonts for subscriptions and newsletters.

find a font the league of movable fonts

Their designs are some of my personal favorites.

The website’s concept is free and open-source content.

If you’re looking for high-quality fonts for your brand, it’s one of the first places you should check out for free downloads.

13. Urban Fonts

If you’re looking for some new-school font designs, check out Urban Fonts.

find a font

They offer plenty of free options for your brand.

You can find really unique graffiti and calligraphy designs on their platform as well.

Some of their other popular categories include:

  • Comic
  • Funky
  • Futuristic
  • Gothic
  • Modern
  • Celtic

Urban Fonts lets you preview your content directly on their website.

You don’t need to download fonts to see what your exact words will look like.

Type some sample text to generate a preview.

Their platform lets you modify the font color and background colors as well.

It’s really easy to use, and the downloads are free.

14. Abstract Fonts

Abstract Fonts has more than 13,000 fonts on their website.

Here are a few of their most popular font options.

find a font

Choose from dozens of categories to narrow down your choices.

You can also search by the designer if there are certain fonts you’ve used in the past and want to find more from the same person.

It’s also a great place for you to upload fonts you’ve created to share with other businesses.

Some of the unique categories that separate Abstract Fonts from the crowd include:

  • Retro
  • Stencil
  • Minimalist
  • Bloody
  • Spiky
  • Fuzzy
  • Pixel-Bitmap
  • Adult

If you’re searching for fonts that are different from the traditional styles found on the majority of websites, Abstract Fonts is a top option.

It’s easy to navigate their site and download fonts for free.

15. FontZone

Want to search a library of over 50,000 free fonts?

Start with FontZone — you are sure to find a font that fits your business.

find a font example

As you can see from the image above, some of the fonts are free, and others are free for personal use.

Just make sure you double-check that before using certain fonts for your brand.

Search for fonts alphabetically or by category.

You can even look for free fonts that are grouped by popularity.

FontZone lets you preview the options directly on their website before you download anything.

That way, you can see exactly how your content will look before wasting time downloading something you won’t use.

Their extensive library of free options makes FontZone a top choice for free fonts.

16. FontShop 

Another personal favorite of mine is FontShop.

find a font font shop

I really like the layout of their website and the search options.

If you know what fonts you’re looking for, it’s easy to find them alphabetically or with the search bar.

You can also search by fonts, designers, keywords, licenses, and format.

They don’t offer mass downloads of different fonts, so if you want to download multiple styles, you’ll have to do so one at a time.

17. Fawnt

Fawnt has over 9,000 different font options. Some of them are pretty artistic, making them a great choice for logos or branding.

find a font fawnt

It’s a German website that offers reliable and high-quality fonts.

You can download the designs for free and use them for your brand.

The Fawnt homepage displays their most popular options, and you can also browse their website by category.

Each font shows a rating on a 10-point scale based on user reviews.

It also tells you how many times each font was downloaded through its platform.

Fawnt allows you to customize previews and displays all of the letters and characters available for download with each font.

18. MyFonts

MyFonts is another great resource to find a font for your brand. Just make sure that you look specifically for free fonts:

find a font my font free options

MyFonts also has fonts and designs available for purchase.

To navigate to the free ones, select the “Free Fonts” option from the menu in the top left corner.

It’s funny – when people want something for free, they may not think to look somewhere that items are sold.

MyFonts is a perfect example of this.

They primarily advertise their fonts for sale, but you can still download plenty of free fonts and use them for your brand.

19. DaFont

You can also download free fonts from DaFont.

find a font dafont

DaFont allows you to download and install designs if you have:

  • Windows 10/8/7/Vista
  • Mac OS X

Their platform gives you simple instructions on how to download free fonts based on your operating system.

You can search by top fonts, themes, designers, and new fonts.

To ensure you can utilize a font for commercial use, make sure you check off “public domain” while you’re searching.

You can also check the “free” box to weed out the fonts for sale.

Conclusion

Fonts matter.

You don’t need to spend money purchasing fonts, especially since there are plenty of free options online.

If you’re looking for a free font, consider the options that I showed you above. Take the time to download a few and use A/B testing to see which ones your audience responds to.

Choosing the right font can even help optimize your conversion rate.

All of these websites are slightly different based on what you’re looking for and personal preferences.

Just make sure you’re downloading and installing fonts that are free for commercial use if you’re planning to associate them with your brand and company.

Where have you found the best free font for your website?

The post Find a Font: 19 Places to Find Free Fonts for Your Brand appeared first on Neil Patel.

Inbound Marketing Vs. Outbound Marketing

There are two kinds of people. 

The first group go out of their way in search of what they need

Did you find this article after doing some research? 

If so, you belong in the first group. 

The second group waits on others to suggest what they should want. 

Was this content piece forced on a feed you were scrolling via some form of paid advertising?

Yes? 

Then you belong in the second group. 

Either way, whether this article was forced on you (outbound) or you researched and found it yourself (inbound), the point is that you’re still here. 

So what does that tell you? 

It means that the difference between outbound marketing and inbound marketing boils down to getting your business in front of two different groups of people. 

That is, those who go out of their way to find your product or service when they need it. Or, those who you must go out of your way to bring your business to their attention. 

I’m not here to discuss ethical issues or tell you how inbound marketing is better than outbound marketing. 

The truth of the matter is that both approaches, be it outbound or inbound marketing, works. 

So what’s my goal with this article, you ask? 

I’ll show you how they differ from each other and when to use one approach over another to achieve what I believe is most paramount – reach the right audience and grow your business. 

Good? 

Let’s start with the basics… their definitions.

What is outbound marketing?

Outbound marketing, also known as “push” or “interruption” marketing, is the use of marketing tactics to get your business (or its message) in front of people not necessarily searching for it. 

Traditional outbound channels like TV, radio, print, radio, and billboards are there for all to see. 

In this digital era, brands and marketers still use the outbound marketing approach to reach a wide audience of people via paid ads tactics. 

Whether traditional or digital channels, the goal with outbound marketing is the same. 

Marketers use it with the hope that a fraction of the broad audience they’re targeting would take interest in their offer or message and start the journey to becoming a customer. 

But there’s a reason why the outbound marketing approach, especially those executed via display ads, gets a terrible click-through-rate of 0.06% on desktop and 0.16% on mobile.

Nobody asks for them. 

Going by that negligible display ads’ CTR, most people seem to have thrown outbound marketing out of the window. 

No reasonable person throws a baby out with the bathwater, so you shouldn’t. 

Why?

With tailored outbound tactics like cold email outreach, marketers see open rates of about 17.8% and CTRs of up to 14%. And on LinkedIn, cold messages get 3x that, according to LinkedIn’s report.

In other words, outbound marketing still works. 

The absence of a marketing strategy to determine when and how to use it, as well as to guide its execution is why most marketers and businesses fail with outbound marketing.

What is inbound marketing?

Inbound marketing prides itself as the most reasonable and ethical way to advertise a business. This approach has been in existence since 2006, about 15 years ago.  

So why are people still listening even more today? 

It’s because inbound marketing is a subtle, not-so-salesy way of attracting prospects; then, engaging them with relevant, helpful information until they become customers and advocates.

Remember the first group of people I mentioned, those who go out to find what they need?

Inbound marketers typically wait for this bunch with the right information in the form of content marketing, SEO, and social media to attract and pull them into their sales funnels.  

Inbound marketing may be non-promotional and not “forced” on people like outbound. 

But that’s not to say it’s easy or a stroll in the park when using it to attract prospects actively searching for the products or services your business offers. 

Like outbound, without a solid strategy to guide its execution, inbound marketing is difficult to turn into a growth channel.

Why?

Because it takes time, upfront investment, and excellent content creation and promotional expertise to ensure your content gets found by prospects. 

At my ad agency, Neil Patel Digital, here’s how we call this act of strategizing to create content that gets found:

From experience, I can say that the success or failure of outbound or inbound marketing hinges on this one thing: Creating content that matters for the people that matter. 

Why? 

Because when you create content that prospects really need, they’ll love to see it whether you force it on them (outbound) or they go out in search of it (inbound). 

Hence, to grow your business depends on whether you have a great strategy to guide you on when to use one approach over the other. 

I’ll talk about when to use outbound or inbound marketing.

Before that, let’s examine their differences.

3 Key differences between inbound and outbound marketing

The ultimate goal of inbound or outbound marketing is to reach prospects and get them to do business with you. 

Although the end goal is the same, these are the three core areas they differ. 

Difference #1: Pull vs push

If you create helpful content that gets discovered by your ideal customers when they’re searching for it, you’ve successfully pulled them into discovering your business as they consume that content piece. 

Now, that is inbound marketing in practice. 

This approach demands that you create content to address topics or queries prospects are already searching for, which you can find via keywords research or community forums.

Outbound marketing is the opposite of that. 

Here, you develop content with the assumption (sometimes based on trends) that it’ll capture your prospects’ interest. But since they aren’t searching for it or asked for it, you have to push it via advertising it to them. 

It’s like taking a blind shot. 

Maybe, just maybe your shot hits the target, reaching some people who’ll take interest in your “pushed” ad, discovering your business or message in the process. 

Difference #2: Generic vs specific

Outbound marketing campaigns via mediums like TV, radio, billboards, and print ads tend to be more generic. 

Why? 

Because like you, just about anybody can watch a TV show or pass a street corner with a mounted billboard. 

So to increase the chances of reaching a substantial fraction of people who may be interested in an ad, outbound campaigns tend to be more generic or try to appeal to the entire public.

For example, this ad by Ogilvy, although very creative, speaks to just about anyone that has teeth:

On the other hand, inbound marketing follows a more specific approach. 

Inbound’s core principle involves creating educational or entertaining content pieces to address a problem faced by a specific audience. 

In this case, even though everyone may have the problem, a company only concerns itself with an audience it is interested in or has experience serving. 

The result of this is the creation of content such as blogs, social media posts, newsletters, or the use of SEO techniques to optimize for targeted queries aimed at a defined audience. 

For example, see below how WebMD titled this content piece specific to fitness enthusiasts, looking to get fit at home: 

This content may not appeal to the millions of people interested in fitness as an outbound approach would aim to. 

But by creating content specific to people who want to get fit at home, WebMD still manages to drive about 4,000 visits to this content piece per month.

Difference #3: Permissive vs interruptive

People use the search engines to find answers to their questions or solutions to their problems. 

And each time your ideal customer does this, they’re simultaneously giving the search engine the permission to show them the most relevant answers to their queries. 

Hence, this permission extends to you if you’ve created a search-engine-optimized content piece the search engine finds worthy enough to show among its search results. 

On social media, prospects follow people and companies they trust.

Doing this gives those people and companies the permission to create content that shows up on their feeds. 

This same pattern plays out with email newsletters. 

When someone signs up for your newsletter, they’ve given you the permission to send them personalized emails. 

The inbound methodology is how you create and distribute content prospects permit via their actions on search engines, social media, or email opt-ins.

This makes inbound a permissive marketing approach.

Outbound marketing, on the other hand, takes an interruptive approach. 

When listening to a radio program or watching your favorite TV documentary, do you ever pause and ask them to throw in an ad?

I don’t. You don’t. And nobody does. 

But that’s exactly what you get – regular interruption of the show with advertising.  

In this digital era, marketers still use this outbound approach of interrupting people to capture their attention online. 

For example, when I scroll my social media feeds, or watch videos on YouTube, I get regular interruptions with advertising I didn’t ask for. 

Most times, I skip past them. 

Other times, an ad captures my attention, and I click through to learn more. 

Again, that should remind you of what I said earlier. 

When executed with the right strategy, both inbound marketing and outbound works. 

With that, let’s see when it’s preferable to use one approach over another. 

When to use outbound marketing

Have you ever clicked on a random ad while scrolling Facebook, LinkedIn, watching a YouTube video, or in the promotions tab of your Gmail account?

Good. 

What about when outbound advertising campaigns come up during a TV/radio show, in print, or on a billboard, have you ever proceeded to research the brand behind the ad on Google?

I have done both at different times. 

And in those cases, I wasn’t really aware of the companies or brands behind those ads until I discovered them via their outbound campaign and took interest. 

Through those outbound campaigns, I became aware of those brands – something not possible if they waited for me to come search for them. 

Hence, if you’re a new business or you just launched a new product and need to build awareness, it makes sense to use outbound marketing like TV, billboards, and others. 

The use of outbound marketing doesn’t end in traditional marketing tactics. It extends to the online space, and there’s a reason for that. 

Inbound marketing takes time

Time to build a substantial following on social media. 

Time to grow an email list. 

And if you’re trying to rank your content on Google, expect to wait at least 100 days, despite massive upfront investments. 

But with the help of an experienced marketing agency, you can intercept prospects even if they aren’t searching for you with digital outbound ads that resonate with their needs. 

Doing this can bring immediate results instead of waiting so long for your content to rank through the inbound approach. 

How can you do it, you ask?

By delving deep into analytics to identify your prospects’ interests based on their online behaviors and data touchpoints. And developing a proactive outbound marketing strategy that resonates with research-identified target audiences.

When to use inbound marketing

Both outbound and inbound marketing require upfront investments. 

As I’ve shown you, outbound marketing, when executed with an excellent strategy, can drive results faster in the short-term than inbound marketing. 

But outbound is a pay to play activity. 

So immediately you stop fueling your outbound campaigns with cash, everything falls off the cliff. 

For example, if you’re running an outbound PPC campaign for a target keyword, the moment you stop bidding, you won’t even make Google Ads’ auction. 

These days, inbound marketing won’t bring you immediate results even if you’re in a niche that is less competitive. 

And that’s because it takes time for the search engine to index, understand, and rank your content. 

In the long-term, however, inbound marketing is 62% less expensive compared to outbound tactics. Once inbound sets into motion, you can drive evergreen organic traffic, pulling visitors, leads, and customers. 

So inbound marketing is a preferred approach if you’re in business for the long-term and ready to be patient while you invest in consistent content creation.

However, nowadays, you can’t just create content here and there, fold your hand, and expect magic to happen. 

To even stand a chance in the long-term with inbound marketing, you need a clearly-defined strategy. 

This strategy must cover everything from audience research, competitive analysis, exceptional blog and social media content creation, promotion, link building, and technical stuff. 

Building your business with inbound marketing isn’t a stroll in the park and cannot be left to chance. 

You need a battle-tested program to develop a strategy that works:

Conclusion: Outbound vs Inbound marketing, which is better?

I don’t agree that one is better than the other. 

It all depends what’s best for a particular situation and on the strategy developed to execute each. 

Why do I say so, you ask?

Because when you look at the sales funnel in relation to the steps inbound and outbound marketing takes to convert prospects into customers, they have  similar structure.

So, instead of looking for which one is better than the other, it’s better to combine both.

Use outbound marketing to build awareness, reach prospects not necessarily searching for you (but may need your product/service, as identified from research) to get short-term results. 

At the same time, activate your inbound marketing engines in preparation for the long-term, as you allow the algorithms to index, understand, and rank your content.

Again, it all boils down to having a great strategy. 

And if you need help developing a one that combines outbound and inbound marketing to reach the right audience and drive business growth… 

Don’t hesitate to get in touch with my ad agency, NP Digital

The post Inbound Marketing Vs. Outbound Marketing appeared first on Neil Patel.

Top 10 San Jose Earthquakes Blogs & Websites To Follow in 2020

Top 10 San Jose Earthquakes Blogs Contents [show] ⋅About this list & ranking San Jose Earthquakes Blogs San Jose Earthquakes Center Line Soccer | A San Jose Earthquakes community Quakes Epicenter MLS Multiplex » San Jose Earthquakes Yahoo! Sports » San Jose Earthquakes SBI Soccer » San Jose Earthquakes SportSpyder.com » San Jose Earthquakes Yardbarker » San […]

The post Top 10 San Jose Earthquakes Blogs & Websites To Follow in 2020 appeared first on Feedspot Blog.

Top 10 Formula E Podcasts You Must Follow in 2020

Top 10 Formula E Podcasts Contents [show] ⋅About this list & ranking Formula E Podcasts Formula E Zone The Race Formula E Podcast The Inside Electric Podcast | Formula E & Electric Motorsport Current Affairs | Inside Formula E Motion E | Formula E & Electric Vehicles Regen E Racing Podcast Inside E | The Porsche Formula […]

The post Top 10 Formula E Podcasts You Must Follow in 2020 appeared first on Feedspot Blog.

Get a Recession Business Loan for a Restaurant

Need a Recession Business Loan a Restaurant?

If you love to cook or you love to eat but know you can do better than the restaurants and cafés in your area, you might be dreaming about opening your own restaurant. But to grow a restaurant, you are going to need business capital. In a bad economy, that means a recession business loan for a restaurant.

Like all businesses, getting started with a restaurant is probably going to mean you will need to borrow capital. Often, that will be a business loan.

Recession Age Funding

The number of US financial institutions and also thrifts has been decreasing slowly for 25 years. This is from consolidation in the marketplace as well as deregulation in the 1990s, reducing obstacles to interstate banking. See: https://www.fundera.com/blog/happened-americas-small-businesses-financial-crisis-six-years-start-crisis-look-back-10-charts

Assets focused in ever‐larger banks is troublesome for small business owners. Big banks are a lot less likely to make small loans. Economic downturns suggest financial institutions come to be much more mindful with financing. The good news is, business credit does not rely on banks.

The SBA

Many credit line varieties that most business owners imagine come from conventional banks and conventional banks use SBA loans as their key loan product for small business owners. This is because SBA assures as much as 90% of the loan in the case of default. These credit lines are the most challenging to get approval for because you must qualify with SBA and the bank.

Get a Recession Business Loan for a Restaurant from the SBA

There are two fundamental sorts of SBA loans you can commonly get. One kind is CAPLines. There are in fact 4 types of CAPLines that can work for your business.

You can also secure a lesser loan amount more quickly using the SBA Express program. A lot of these programs offer BOTH loans and revolving lines of credit.

From the SBA … “CAPLines is the umbrella program under which SBA helps business owners meet short-term and cyclical working capital needs”. Loan amounts are offered right up to $5 million. Loan qualification prerequisites are the same as with other SBA programs.

Seasonal Line

This one advances against anticipated inventory and accounts receivables. It was created in order to help seasonal businesses. Loan or revolving are on offer.

Contract Line

This one finances the direct labor and material costs of performing assignable contracts. Loan or revolving kinds are available.

Builders Line

This one was made for general contractors or builders constructing or renovating industrial or residential buildings. This line is for fund direct labor-and material costs, where the building project acts as the collateral. Loan or revolving types are on offer.

Working Capital

Borrowers must use the loan proceeds for short term working capital/operating needs. If the proceeds are used to acquire fixed assets, lender must refinance the portion of the line used to acquire the fixed asset into an appropriate term facility no later than 90 days after lender discovers the line was used to finance a fixed asset.

Get a Recession Business Loan for a Restaurant from SBA Express

You can get approval for right up to $350,000. Interest rates can be different, with SBA enabling banks to charge as much as 6.5% over their base rate. Loans above $25,000 will call for collateral.

Approval Details

To get approval you’ll need great personal and company credit. Plus the SBA states you must not have any blemishes on your report. An acceptable bank score demands you have at least $10,000 in your account over the very last 90 days.

You’ll likewise need a resume showing you have market practical experience and a well put together business plan. You will need three years of business and personal tax returns, and your business returns should show a profit. And, you’ll need a current balance sheet and income statement, therefore showing you have the funds to pay back the loan.

Collateral

To get approval you’ll need account receivables, but just if you have them. As for the collateral to offset the risk, normally all business assets will serve as collateral, and some personal assets including your home. It’s not unheard of to need collateral equivalent to 50% or more of the loan amount. You also need articles of incorporation, business licenses, and contracts with all third parties, and your lease.

Let’s look at credit lines.

Get a Recession Business Loan for a Restaurant from Credit Lines

A credit line, or line of credit (LOC), is an agreement between a borrower and a bank or private investor that establishes a maximum loan balance that a borrower can access.

A borrower can access funds from their line of credit anytime, so long as they don’t go beyond the maximum set in the arrangement, and as long as they meet all other requirements of the bank or investor including making on time payments.

Advantages

Credit lines deliver many unique benefits to borrowers including flexibility. Borrowers can use their line of credit and merely pay interest on what they use, in contrast to loans where they pay interest on the sum total borrowed. Credit lines can be reused, so as you acquire a balance and pay that balance off, you can use that accessible credit again, and again.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Details

Credit lines are revolving accounts similar to credit cards, and compare to various other types of funding including installment loans. Oftentimes, lines of credit are unsecured, much the same as credit cards are. There are some credit lines which are secured, and for this reason easier to qualify for

Credit lines are the most commonly requested loan type in the business world although they are preferred, authentic credit lines are rare, and tricky to find. Many are also very hard to get approval for calling for good credit, good time in business, and good financials. But there are other credit cards and lines that few people know about that are attainable for startups, bad credit, and even if you have no financials.

Get a Recession Business Loan for a Restaurant from Private Investors and Alternative Lenders

Private investors and alternative lenders also offer credit lines. These are less complicated to qualify for than conventional SBA loans. They also demand much less documentation for approval. These alternative SBA credit lines frequently need good personal credit for approval.

Unlike with SBA, many of them don’t call for good bank or business credit approval. Most of these kinds of programs call for two years’ of tax returns. Tax returns need to demonstrate a profit. Rates can vary from 7% or greater and loan amounts range from $25,000 into the millions. Loan amounts are frequently based on the revenues and/or profits on tax returns. At times lenders may ask for other financials such as a profit and loss statement, balance sheets, and income statements.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Get a Recession Business Loan for a Restaurant with Merchant Cash Advances

Merchant cash advances have quickly become the most popular way to get financing, in large part due to the effortless qualification process. Businesses with $10,000 in earnings can get approval, with the business owner having scores as low as 500.

Some sources have now even begun to offer credit lines that accompany their loans. You must have at least $10,000 in revenue for approval. You should be in business for at least one year, however three years is better. Lenders usually want to see a credit score of 650 or better for approval.

Loan amounts are usually around $20,000. Lenders normally will pull your business credit, so you ought to have some credit already and at times lenders will want to see tax returns.

Rates vary, due to the risk for this program, and there typically aren’t a lot of funding sources who offer it.

Get a Recession Business Loan for a Restaurant with Stocks/Bonds as Collateral for Financing

You can get financing despite personal credit if you have some sort of stocks or bonds. You can also get approval if you have somebody wishing to use their stocks or bonds as collateral for financing.

Personal credit quality doesn’t matter as there are no consumer credit requirements for approval. You can get approval for as much as 90% of the value of your stocks or bonds. Rates are often lower than 2%, making this one of the lowest rate credit lines you’ll ever see. You can still earn interest as you generally do on your stocks and bonds.

Credit Cards and Lines are Very Similar

Credit cards ordinarily offer 0% intro rates for up to two years. This is also rather useful for startups in particular. And credit lines let you take out more cash at a more affordable rate than do cards. These are the main two differences which will have an effect on you between credit cards and credit line.

Investopedia even says that “lines of credit are potentially useful hybrids of credit cards.”

Both cards and lines are revolving credit. Credit lines are tougher to get approval for as card approvals are often very quick, many times automated, while line require an in-depth underwriting review. Lines usually offer lower rates, according to Bankrate card rates average 13% while lines average 4%.

Get a Recession Business Loan for a Restaurant with Unsecured Business Credit Cards

Recession Restaurant Financing Credit SuiteThe majority of these cards report to the consumer credit reporting agencies. They all require a personal guarantee from you. You can get approval in general for one card at the most as they discontinue approving you when you have two or more inquiries on your report.

Most credit card companies feature business credit cards including Capital One, Chase, and American Express. These have rates similar to consumer rates and limits are also similar.

Some of them report to the consumer reporting agencies, some report to the business bureaus. Approval requirements resemble consumer credit card accounts.

Inquiries

Frequently, when you apply for a credit card you put an inquiry on your consumer report. When other lenders see these, they won’t approve you for more credit for the reason that they do not know how much other new credit you have lately obtained.

So they’ll only approve you if you have less than two inquiries on your report within the most recent six months. Any more will get you refused.

Get a Recession Business Loan for a Restaurant with Our Hybrid Credit Line

With this form of business financing, you work with a lender who concentrates on securing business credit cards. This is a very rare, very few know about program which few lending sources offer. They can typically get you three to five times the approvals that you can get on your own.

This is because they are familiar with the sources to apply for, the order to apply, and can time their applications so the card issuers won’t reject you for the other card inquiries. Individual approvals frequently range from $2,000 – 50,000.

The end result of their services is that you generally get up to five cards that resemble the credit limits of your maximum limit accounts now. Multiple cards create competition, and this means they will raise your limits, often within 6 months or fewer of first approval.

Approvals

Approvals can go up to $150,000 per entity such as a corporation. With our hybrid credit line you get three to five business credit cards that report only to the business credit reporting agencies. This is huge, something the majority of lenders don’t offer or advertise. Not only will you get cash, but you build your business credit also so within three to four months, you can then use your new company credit to get even more money.

Rates

The lender can also get you low introductory rates, typically 0% for 6-18 months. You’ll then pay normal rates after that, typically 5-21% APR with 20-25% APR for cash advances. And they’ll also get you the very best cards for points. So this means you get the very best rewards.

Like with just about anything, there are significant benefits in teaming up with a source who focuses on this area. The results will be far better than if you attempt to go at it by yourself.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Qualifications

You must have excellent personal credit now, ideally 685 or higher scores, the same as with all business credit cards. You shouldn’t have any negative credit on your report to get approval. And you must also have open revolving credit on your consumer reports now and you’ll need to have five inquiries or less in the last six months reported.

Fees

All lenders in this space charge a 9-15% success based fee and you only pay the charge off of what you secure. Remember, you get a lot of extra advantages and about three to five times more cash in this program than you could get on your own, which is why there’s a fee, the same as all other lending programs.

You can get approval using a guarantor and you can even use various guarantors to get even more money. There are even other cards you can get making use of this very same program but these cards only report to the consumer reporting agencies, not the business reporting agencies. They are consumer credit cards versus business credit cards.

Benefits

They offer similar benefits such as 0% intro annual percentage rates and five times the amount of approval of a solitary card but they are much easier to get approval for.

You can get approval with a 650 score and seven inquiries (or fewer) in the last six months and you can have a bankruptcy on your credit and other negative items. These are a lot easier to get approval for than unsecured business credit cards.

With all preceding cards above, you ought to have good consumer credit in order to get approval but what happens if your personal credit is not good, and you don’t have a guarantor?

This is when building company makes a great deal of sense even if you have good personal credit, developing your business credit helps you get even more money, and without having a personal guarantee.

Get a Recession Business Loan for a Restaurant with Building Business Credit

Company credit is credit in a company name, in connection with the company’s EIN number, and not the owner’s Social Security Number. When accomplished correctly, you can acquire business credit without a personal credit check and without a personal guarantee. This is something all other cards above can’t deliver.

You can get three types of business credit cards. First is vendor credit, which offers net 30 terms to set up a business credit profile. Then is retail credit, where you will get credit cards with high limits at most stores.

Next is fleet credit. It’s credit to fuel, service, and maintain business vehicles. And then there’s cash credit, which includes Visa, MasterCard, and American Express cards that you can use anywhere. You can obtain these with no credit check or guarantee. Limits are oftentimes $5,000 – $10,000 to get started, and can exceed $50,000.

Takeaways for How to Get a Recession Business Loan for a Restaurant

Your business can get credit cards and financing, if you know where to look. Learn more here and get started toward establishing business credit. Get a recession business loan for a restaurant. And grow a business you can be proud of!

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