Day: November 5, 2020

Biden Had No Election Coattails

The ‘blue wave’ that Democrats promised came nowhere near materializing.

How Does Google Keen Compare to Pinterest?

Google launched a social platform that, if it takes off, could give Pinterest a run for its money. Called Google Keen, it’s a curation tool that allows users to collect not only content from around the web, but also text and images, and save them to their keens, Google’s version of a board.

In a press release announcing its launch, CJ Adams, co-founder of Keen, had this to say about the new social platform: “Keen isn’t intended to be a place to spend endless hours browsing. Instead, it’s a home for your interests: a place to grow them, share them with loved ones and find things that will help in making this precious life count.”

As you add search terms and curate content, Keen uses AI and machine learning to suggest only the content you’d really be interested in, so you can focus only on the projects that matter to you.

It’s quite a departure from the M.O. of every other social media platform out there, which does everything in their power to keep you scrolling, reading, sharing, or pinning. With Keen, users (and marketers) have the opportunity to get hyper-focused on a topic and curate only the most relevant and most valuable content for it.  

What is Google Keen?

Adams explained how he came up with the idea for Keen when he and his wife realized they were spending hours scrolling through social media without accomplishing anything productive:

It was powerful to tell each other what we wanted to spend more time on. And once we did, we found that collecting related ideas, links and resources together gave us a way to spend more time on our shared passions in real life.

To explore this idea further, four colleagues and I created a new experiment called Keen as part of Area 120, Google’s workshop for experimental projects. We worked in close collaboration with a team at Google called People and AI Research (PAIR), dedicated to human-centered machine learning systems, to develop this experiment.

On the surface, Google Keen looks like a stripped-down version of Pinterest. The major difference is it’s intended not for users to get sucked down the rabbit hole of endless pinning and scrolling, according to the press release, but as a tool for users to curate only the content that speaks to their interests.

Instead of using search history from around the web to populate its suggested content, as Pinterest does, it uses machine learning that focuses only on what a user explores and saves on Keen.

How Does Google Keen Work?

Signing up for Keen is very easy. Within minutes of signing up, which of course you can do with your Google account, you’re in and exploring content. Once you’re logged in, you start by creating a Keen. A keen is a topic board where you’ll curate your content.

In the example below, I started with “content marketing.”

How Does Keen Work

Once you enter an initial search term, Google Keen will suggest search terms that you can save to your keen. These will be the terms Google Keen uses to populate suggested content for you. The more you choose, the more tailored your content will be.

Google Keen keyword suggestion

After you’ve chosen your search terms, choose a cover image for your keen, and write a description.

Once you’re done, your keen will look something like this.

Google Keen Choosing cover image
Google Keen by CJ Adams

This is a keen curated by CJ Adams and his colleague Benjamin Pitt. The diamond icon below the cover image represents the number of content pieces, or gems, that have been saved to this keen. The lightning bolt lets you know how many new items there are to explore.

If you click into the keen, your screen will look like this.

Google Keen Curated Content Example

The gems tab shows you everything you’ve already saved to your keen. The Explore tab is content Google Keen suggests you check out. If it’s your own keen, you’ll also see a search tab that lets you edit or add the terms Google is using to search for relevant content for you.

Here’s what my keen looks like for content marketing.

Google Keen Curated Content for Marketing

As you explore more content and save more to your gems, Google’s search algorithm gets to know you better, and serves up more relevant content.

After saving more gems and organizing my keen a little more, I got more accurate suggestions for my content marketing keen. I even saw one of my own pieces to curate!

Neil Patel Content on Google Keen

If you go back to your home screen, you’ll notice Google Keen suggests other keens for you to explore. These will get more relevant over time, as well, as you add new keens and curate content.

You can follow these keens and they’ll show up on your home screen.

As you create keens of your own, you can choose to make them public or private, or to share them directly with other users.

Can you already see the difference between Keen and Pinterest?

Google Keen vs. Pinterest

There are a lot of aspects of Google Keen that echo the user experience on Pinterest. The way you save and share content, create and customize keens, and discover new content is very similar to the way Pinterest’s pins and boards are set up.

But there are some fundamental differences between the two. It all boils down to Keen’s desire to be a place for pure content curation with a clear goal in mind.

Pinning vs. Curating

Pinning on Pinterest and curating content on Keen essentially work the same. On Keen, the content you save to your keens are called gems.

Pinterest, of course, allows you to pin content from around the web, and then organize it onto boards. Within the boards, you can see more refined content suggestions, and you can organize your current pins into smaller boards that roll up into a larger board category.

The key thing here, though, is that everything you pin comes from other websites.

On Google Keen, you can add much more than web content to your gems. You can also save text, links, and images, much like you would do in Evernote or another note-taking app.

Just like Pinterest and their boards, you can organize your content within your keens into sections. But you won’t automatically see suggested content in your keen unless you navigate to the Explore tab.

While Pinterest makes it very easy to get lost in endless content suggestions, Keen very deliberately makes it more work to discover content. That way, you’re spending time curating only what is truly important and productive for the user.

The Social Aspect of Google Keen

Both Pinterest and Keen allow you to make curated content public. You can also share your boards and pins/keens and gems with other users.

On Keen, however, you can invite other users to collaborate on a keen. For example, if you and a friend are avid gardeners, you can both save ideas to the same keen to use in your community garden.

However, unlike Pinterest, there are no updates from accounts you’re following. There’s nothing like Today’s Picks on Pinterest, and there is no messaging functionality. In that way, there is less opportunity for recommendations from peers.

You will only see alerts when new things are added to the keens you’re already following. They appear below the keen’s cover image, next to the lightning bolt icon.

Influencers

Google Keen is too new to have developed its own influencer environment, but there are influencers from other platforms already curating on Keen.

YouTuber Hermione Chantal, for example, has a few keens for her DIY and interior design content. She has one keen devoted to home goods from H&M. Pinterest, on the other hand, is loaded with its own influencers.

Keen presents an opportunity for users to become influencers on the platform and for marketers to get the products in front of new talent.

Content Discovery on Google Keen

This is probably the biggest differentiator between Pinterest and Keen. As you well know, content discovery on Pinterest is based on your searches, pins, and boards. But it also shows you content it thinks you’ll like based on your recent browser history. Even though you may not have pinned anything about copy editing tutorials on Pinterest, if you searched for them on Google or Bing, you may see a few cards pop up in your home feed.

In 2019, Pinterest introduced two ways to refine your home feed. The first is the home feed toggle, which allows you to turn on and off topics you’ve searched for in the past. The second is the pin-level controls, which allow you to see why a pin is showing up in your feed, hide or report it, or unfollow its parent topic.

Google Keen, on the other hand, refines your content automatically. It uses only the search terms you save to suggest content. When you enter a search term, Keen will suggest other related terms that will further refine the content you see.

More Keyword Suggestions on Google Keen

The more you refine your searches, and the more you save to your keens, the better the suggested content matches your interests. Rather than refine your suggested content after the fact, Keen is refining it before you even see it.

In fact, when you first begin on Keen, you may find your Explore section a little wonky, since Keen doesn’t have enough information on you to suggest targeted content yet. In fact, this is what my Explore section looks like right now in my new account.

Content Suggestions on Google Keen

So what are the differences between Keen and Pinterest for marketers?

Keen vs. Pinterest for Marketers

For now, Pinterest has a much more robust set of tools for their business pages, and they continue to build out more features. In September, they released their Story Pins in beta version, which allows creators to build images, videos, text overlays, and voiceovers into one pin. It’s a way for brands to create original content exclusively for Pinterest; and unlike other social media platforms, the stories don’t disappear after a while.

Pinterest also has plans to roll out creator profiles, according to TechCrunch, so users can learn about a creator, rather than just seeing what they’ve pinned. They’re also working on an updated analytics dashboard.

Right now, Keen doesn’t seem to have any of that. All searches seem to be organic at the moment, with no opportunity for paid posts.

However, that doesn’t mean none of this is coming in the future. While Keen is touted as simply a means to help users disconnect from endless scrolling and focus only on what truly makes them happy, it is also a way for Google to tap into Pinterest’s market.

How could you use Keen to get your product in front of users?

Using Google Keen for Marketing

While Keen isn’t really built out for businesses at the moment, that doesn’t mean marketers should totally ignore it. There are two big ways marketers can use Google Keen at the moment: to drive traffic and to increase conversions.

Driving Traffic From Google Keen

As John Becker of ContentLab points out, “if Keen takes off, it could drive traffic to your site. If people are finding and marking your content, that content could snowball and find its way to other keens and, in turn, get in front of more and more eyes.”

So, it’s worth taking a look at Keen to get eyeballs on your other content offerings.

For example, hiking and backpacking blogger Frank van Oostendorp has created three keens to drive traffic to his blog Hike for Purpose.

Hiking Content on Google Keen

Each keen includes a title, custom image, description, and curated gems that lead directly back to posts on his blog.

Google Keen For E-Commerce

Much like Pinterest, Keen users can curate links to product pages having to do with their search topics. As I mentioned before, Chantal is using Keen to curate direct links to product pages on H&M for her DIY outdoor space makeovers keen.

Ecommerce on Google Keen

If you are an influencer like Chantal, Google Keen presents the opportunity to use affiliate links or further promote products of companies with which you have a partnership.

For brands with strong customer loyalty, Google Keen is just another opportunity to reach your audience with keens targeted toward their searches on the platform.

Conclusion

Should you care about Google Keen? The answer to that question is kind of up in the air. Keen is a brand new platform with fewer users at the moment, which means if you’re an early adopter, you won’t be lost in a sea of influencers and paid posts.

Its use of machine learning and curated content could help you hyper-target your audience in ways that other platforms like Pinterest just don’t allow you to do.

But when Google released Keen, they didn’t exactly shout it from the rooftops, so adoption of the platform overall has been somewhat slow.

Keen is currently part of Area 120, Google’s own incubator for experimental projects. If you were ever a user of Shoelace or Rivet, you know that Google shuts down a lot of projects it incubates on Area 120.

Still, there’s no harm in having Google Keen in your back pocket. Google does decide to further develop the platform, you’ll have a head start. While other brands are just beginning to build out their keens, you’ll already have curated content, followers, and a plan to drive traffic to your other assets.

Even if it doesn’t pan out, you still have the opportunity to look at content curation differently, and perhaps apply it to your other social accounts.

Do you think Google Keen is right for your marketing strategy?

The post How Does Google Keen Compare to Pinterest? appeared first on Neil Patel.

Top 5 Winnipeg Jets Forums, Discussions, and Message Boards You Must Follow in 2020

Top 5 Winnipeg Jets Forums Contents [show] ⋅About this list & ranking Winnipeg Jets Forums Jets Hockey Forum | Winnipeg Jets Message Board & Discussion Forum Morning Big Blue | A Winnipeg Blue Bomber Fan Community HF Boards » Winnipeg Jets Hockey Forums » Winnipeg Jets Off The Post » Winnipeg Jets Submit Blog Do you want […]

The post Top 5 Winnipeg Jets Forums, Discussions, and Message Boards You Must Follow in 2020 appeared first on Feedspot Blog.

Top 5 New York Islanders Forums, Discussions, and Message Boards You Must Follow in 2020

Top 5 New York Islanders Forums Contents [show] ⋅About this list & ranking New York Islanders Forums HF Boards » New York Islanders Hockey Forums » New York Islanders Off The Post » New York Islanders Submit Blog Do you want more traffic, leads, and sales? Submit your blog below if you want to grow your traffic […]

The post Top 5 New York Islanders Forums, Discussions, and Message Boards You Must Follow in 2020 appeared first on Feedspot Blog.

Get Home-Based Business Recession Funding

Get Home-Based Business Recession Funding Without Jeopardizing Your Personal Assets

A home-based business can get expensive in a hurry. Between supplies and the phone system, to the printer ink and postage, and don’t forget your computer, you might be experiencing negative cash flow before your business really starts to take off. So here are some ideas for getting funding which don’t involve getting a loan from someone in your family. Get home-based business recession funding the right way, now!

Home-Based Business Recession Funding – Background

The number of US banks as well as thrifts has been decreasing gradually for 25 years. This is coming from consolidation in the marketplace along with deregulation in the 1990s, decreasing barriers 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 financial institutions is problematic for local business proprietors. Big financial institutions are a lot less likely to make small loans. Economic declines indicate banks end up being more careful with lending. Thankfully, business credit does not depend on financial institutions.

Get Home-Based Business Recession Funding with a Loan from The Small Business Administration

The SBA says that over half of American businesses are based out of a home. And they have a number of loan programs you can take advantage of. Note: the SBA doesn’t provide the loan; they work with the lender and they make these programs available to you, the small business owner.

SBA Loans

There are two primary kinds of SBA loans you can generally secure. One kind is CAPLines. There are in fact 4 types of CAPLines that can work for your business.

You can also acquire a lower loan amount faster 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 up to and including $5 million. Loan qualification criteria are the same as with other SBA programs.

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.

Microloans

These are not for a lot of money. The SBA facilitates microloans of up to $50,000, but the average amount is around $13,000. You can use an SBA microloan for:

  • Working capital
  • Furniture or fixtures
  • Inventory or supplies
  • Machinery or equipment

However, they won’t let you use it for buying real estate or to pay off business debts.

General Small Business Loans

Ah, the 7(A). It’s available for most forms of small business although, like the CDC/504 loan, you can’t get one if your business’s profits depend on sales made by an ever-increasing number of participants. You also can’t get one if your business derives (either directly or indirectly) more than 2.5% of its gross revenue through the sale of products or services, or the presentation of any depictions or displays, of an indecent sexual nature. Since this is not too terribly well-defined, it’s hard to say whether it would include lingerie (although it most likely includes marital aids). You might need to check with your lender.

There are also some restrictions on franchises. Again, it’s always best to check the fine print and, if you have questions, talk to your lender.

Demolish your funding problems with our rock-solid guide about 27 killer ways to get cash for your business. Get money even during the worst of a recession.

Get Home-Based Business Recession Funding with SBA Express

You can get approval for up to and including $350,000. Interest rates vary, with SBA enabling banks to charge as much as 6.5% over their base rate. Loans in excess of $25,000 will call for collateral.

Approval Details

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

You’ll likewise need a resume showing you have business sector 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 recent balance sheet and income statement, thereby showing you have the funds to pay back the loan.

Collateral

To get approval you’ll need account receivables, but only if you have them. When it comes to the collateral to make up for the risk, generally all business assets will serve as collateral, and some personal assets including your residence. It’s not unusual 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.

Microloans (but not from the SBA)

There are other microloan providers. You can try the Association for Enterprise Opportunity to find a local microlender.

Bank Loans

What if you need more than a microloan, or your business falls into too many SBA exceptions? Then apply for a bank loan for your home-based business recession funding. Be prepared to put up collateral, which could be equipment or inventory or the like. Pay back your loan on time or else your business’s credit score will suffer.

Business Credit Cards

Another option is business credit cards. However, be aware that you must pay off business credit cards just like personal credit cards. A high credit utilization rate (the amount of credit you use, divided by the total amount of credit available to your company) of greater than 30% can bring down your business credit score. This can make it harder to borrow money or get another business credit card. Therefore, be vigilant with these and pay them off as soon as is practical.

Get Home-Based Business Recession Funding with Crowdfunding

You might want to try with a service such as Kickstarter or GoFundMe. Always make sure you read the fine print, because many crowdfunding platforms require that you give all of the funding back if you do not make your goal by the end of the crowdfunding campaign (IndieGoGo has a flexible funding option). Also, crowdfunding platforms take a percentage of the donations, and they generally will push to have you deliver on your promises, so you’ll have to actually do what your business is supposed to be doing – or face a potential lawsuit.

You will need to make a lot of choices before you even launch a business crowdfunding campaign.

How Much?

Your very first decision should be: just how much do I need to crowdfund? If you need $1 million, you are going to need to crowdfund more than that. Why? Because that is how crowdfunding platforms make their money – they take a percentage of whatever money you can raise. Therefore, you will need to take that into consideration. Crowdfunding percent costs range from 4% to 10%.

Will I Succeed?

Another decision is about how successful you believe your campaign is going to be. If you are extremely confident that you will be 100% funded at the end of your campaign, then traditional funding is for you. If you aren’t sure, then try GoFundMe’s flexible funding. With flexible funding, you, the campaign runner, can retain your donations even if your campaign fails. However, for this privilege, you will need to pay an increased fee to GoFundMe. Other crowdfunding platforms like Kickstarter don’t provide this option.

Your Campaign Strategy

A few words on strategy:

Pitch Videos

Your pitch video needs to be good. Use an expert to film it and create the script. Can’t pay for professionals? Then try schools, both students and instructors.

Your script does not need to be verbatim but you must have points you wish to make and not rattle on. Create a script and stay with it. This is not the time to improvise.

Show the Evidence

If you have physical evidence of your project, then make sure to show it in your campaign video and on your campaign webpage. This means a photo of your health club’s sign or a short video recording of your prototype robot.

Financing for Home-Based Business in a Recession Credit Suite

Address Skepticism

A lot of people are understandably skeptical about crowdfunding. An image and a tangible thing will go a long way to assuring them that your project isn’t vaporware.

Manners Matter

Say please, thank you, and you’re welcome to everyone. Use these magic words in your pitch and in your correspondence with your donors, even in the cover letters you send with your perks (even internet perks can include a cover email message). You do not need to be servile, but you absolutely must be polite.

Don’t Be Greedy!

If you need $250,000 for your campaign, but you call for $1,000,000, that does not do anybody any good.

You’ll just look like you wish to bum off others’ generosity. Instead, account for your expenditures as clearly and transparently as you can. And incidentally, if you misuse your funding, you could find yourself in an unpleasant meeting with your state’s attorney general. So be honest!

Stretch Goals

Your stretch goals should be a combination of easily achievable and pie in the sky. If you are crowdfunding for $100,000, a rather easy to achieve stretch goal is $125,000.

Pie in the sky is going to be more like $300,000. Make it perfectly clear what you will do with any added funds if you are lucky enough to get it. Will you buy the property your business operates in? Employ five additional people? Replace your outdated equipment? Open up a brand-new market on some other continent? Let your donors know what you are striving for, so they can dream with you.

Courtesy Counts

Be polite if your campaign falls short. Even if you use GoFundMe’s flexible funding option, you nevertheless might not get enough to make a significant dent in your funding needs. If you hoped for $100,000 and you just got $500, your best option is to simply return the money.

If you almost got there with $95,000, then say thanks to everybody who donated and see what you can do, despite the fact that there’s a shortfall. And let them know what you’re doing! Perhaps you’ll buy your building next year, or hire four people as opposed to five.

Once more, give your donors a stake in and an inside look at your startup. This will enable them to feel invested. And they might just decide to make up the deficiency on their own. Even if your crowdfunding campaign concludes doesn’t mean a donor cannot send a check or purchase extra goods or services. If that happens, then politeness is crucial.

Donor Strategy

Line up the most significant and most trustworthy donors you can before you start. Tell your mother or your brother in law or your former high school soccer coach to postpone on handing over their $1,000 or $10,000 donation till you begin your campaign.

And ask them (nicely!) to release their money at a very precise time. Which time? The first or very last day of the campaign (split the anticipated funding as well as you are able; if the division isn’t close to half and half, then ask for the bigger chunk of donations to come on the very last day of the campaign). Benefit from the novelty factor of the very first day of the campaign, or the urgency factor of the very last.

Much like a busker with a few of her own bucks in her hat, to encourage people to throw a few bucks for a song, you want your most significant donors to show other donors that they have confidence in you and in your project. And you also want them to suggest your other donors that they had best get in on investing in your startup before the chance ends.

Social Media

Share your campaign on social media sites and ask your friends and family to do so, too. Tweet the link. Add it as a Facebook status. Make it a Tumblr blog post or a snap on Snapchat or publish a blog post about it. Ask your network to publish the link. The best method to get your network to help you out is by assisting them in return. If your relative’s band is on Facebook, share their page, or tweet about it.

Be a participating member of your very own personal community, and your contacts will be far more likely to help you out when you ask. And repeat these social media posts. Considering timezones and our all-too hectic lives, people may not see your message the first time around. Mix it up and deliver it at odd hours (you can normally use scheduling software like HootSuite for this), including what is the middle of the night where you live.

Demolish your funding problems with our rock-solid guide about 27 killer ways to get cash for your business. Get money even during the worst of a recession.

Get Home-Based Business Recession Funding with Unsecured Business Credit Cards

Many 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 max as they discontinue approving you when you have two or more inquiries on your report.

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

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

Inquiries

Usually, 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 because they have no idea 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 than that will get you declined.

Get Home-Based Business Recession Funding with Our Credit Line Hybrid

With this form of business financing, you work with a lender who specializes in securing business credit cards. This is a very unusual, very little know of 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 due to the fact that 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 typically range from $2,000 – 50,000.

The result of their services is that you ordinarily 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, ordinarily within 6 months or less of original approval.

Approvals

Approvals can go up to $150,000 per entity like a corporation. With hybrid credit line they actually get you three to five business credit cards that report solely to the business credit reporting agencies. This is huge, something the majority of lenders don’t offer or promote. 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 corporate credit to get even more money.

Rates

The lender can also get you low introductory rates, regularly 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 best cards for points. So this means you get the very best rewards.

Just like with anything, there are big benefits in partnering with a source who concentrates on this area. The results will be far better than if you try to go at it on your own.

Qualifications

You have to have excellent personal credit right now, preferably 685 or higher scores, the same as with all business credit cards. You shouldn’t have any derogatory credit on your report to get approval. And you must also have open revolving credit on your consumer reports right now and you’ll have to have five inquiries or less in the most recent 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. Keep in mind, you get a ton of additional rewards and about three to five times more cash through this program than you’d 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 a number of guarantors to get even more money. There are also 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 including 0% intro annual percentage rates and five times the amount of approval of a solitary card but they are a lot easier to qualify 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 UBF company credit cards.

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

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

Demolish your funding problems with our rock-solid guide about 27 killer ways to get cash for your business. Get money even during the worst of a recession.

Get Home-Based Business Recession Funding with Private Investors and Alternative Lenders

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

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

Merchant Cash Advances

Merchant cash advances have rapidly become the most popular way to get financing, in large part because of the effortless qualification process. Businesses with $10,000 in revenue 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 minimum one year, though three years is better. Lenders generally want to see a credit score of 650 or better for approval.

Loan amounts are frequently around $20,000. Lenders generally do 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 usually are not a lot of funding sources who offer it.

Get Home-Based Business Recession Funding with Credit Lines

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

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

Advantages

Credit lines deliver many one of a kind benefits to borrowers which include versatility. Borrowers can utilize their line of credit and just pay interest on what they use, unlike 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.

Details

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

Credit lines are the most routinely requested loan type in the business world although they are very popular, authentic credit lines are few and far between, and tough to find. Many are also very tough to get approval for calling for good credit, good time in business, and good financials. But there are various other credit cards and lines that few people know about that are available for start-ups, bad credit, and even if you have no financials.

Get Home-Based Business Recession Funding with Securities as Collateral for Financing

You can get financing irrespective of personal credit if you have some kind of stocks or bonds. You can also get approval if you have somebody intending 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 frequently below 2%, making this one of the lowest rate credit lines you’ll ever see. You can nevertheless earn interest as you usually do on your stocks and bonds.

Get Home-Based Business Recession Funding with Building Company Credit

Business credit is credit in a company name, in association with the business’s EIN number, and not the owner’s Social Security Number. When undertaken correctly, you can obtain company credit without a personal credit check and no personal guarantee. This is something all other cards above can’t deliver.

You can get three types of company 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 get these without any credit check or guarantee. Limits are typically $5,000 – $10,000 to get started, and can exceed $50,000.

Takeaways

Stop asking your family for handouts! There are lots of ways to get home-based business recession funding.

The post Get Home-Based Business Recession Funding appeared first on Credit Suite.

New comment by azmorf in "Ask HN: Who is hiring? (November 2020)"

Effective | Full-Stack and React Software Engineers | REMOTE / Eastern Europe and LATAM | Full-Time & Contract We are Effective, a ~40-person agency building web and mobile apps for various clients in the United States – most typically startups. We help companies build products and find product-market fit, and then scale beyond that. We’re …

The post New comment by azmorf in “Ask HN: Who is hiring? (November 2020)” first appeared on Online Web Store Site.

The 5 Best Amazon Marketing Companies of 2020

Amazon continues to dominate as the world’s largest e-commerce site.  They already have an existing pool of active users and billions in revenue to plug your store into and start making sales.  But as you’ll expect, millions of other store owners are also fighting for a piece of Amazon’s customers.  So, with over 2.5 million …

The post The 5 Best Amazon Marketing Companies of 2020 first appeared on Online Web Store Site.

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

The 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!

The post Get a Recession Business Loan for a Restaurant appeared first on Credit Suite.

The post Get a Recession Business Loan for a Restaurant appeared first on Business Marketplace Product Reviews.

SharpestMinds (YC W18) Is Hiring a Full-Stack Developer in Toronto

Article URL: https://public.3.basecamp.com/p/gCuDuaVRKTbTKYdVz2yzg6wd

Comments URL: https://news.ycombinator.com/item?id=24990787

Points: 1

# Comments: 0

The post SharpestMinds (YC W18) Is Hiring a Full-Stack Developer in Toronto appeared first on ROI Credit Builders.

Shasqi (YC W15) Is Hiring 2 (USA-Remote) Executive Assistants

Article URL: https://www.linkedin.com/posts/shasqi-inc%2E_hiring-activity-6729487192873410560-yfR9

Comments URL: https://news.ycombinator.com/item?id=24988264

Points: 1

# Comments: 0

The post Shasqi (YC W15) Is Hiring 2 (USA-Remote) Executive Assistants appeared first on ROI Credit Builders.