Author: Geraldine Ramos

New comment by hshar in "Ask HN: Who is hiring? (June 2021)"

Community Gaming (https://communitygaming.io) | REMOTE (US (Texas)/LATAM/Eastern Europe/Middle East)

Community Gaming’s platform creates a seamless experience for tournament organizers to host grassroots tournaments and for gamers to compete and instantly get paid when they win. The platform facilitates automatic payments that are fast, transparent, and require no blockchain knowledge to use!

Note: The platform depends heavily on the blockchain, but is more or less hidden for the user.

Currently in the market for:

    * Fullstack Developer: https://hitmarker.net/jobs/community-gaming-full-stack-engineer-1292812
    * Head of Product (Email me) Looking for someone who has worked in the blockchain or esports industry as a head of product for at least 2 years.

Our stack is:

* Frontend: Nextjs, web3js, bootstrap
* Backend: Kotlin/Springboot Mostly, A little bit of TypeScript
* Deployment: Kubernetes on AWS (almost entirely automated)
* Blockchain: Smart contracts written in Solidity and implemented in web3js. Deployed to Ethereum Mainnet, Polygon, and Binance Smart Chain.

My email: hshar AT cgnylan . com

(no recruiters/agencies please)

How to Lower PPC Churn Rates

It’s a pay-to-play world. From social media to Google Ads, companies invest thousands of dollars a month into paid ads. However, there’s a lurking metric you might not be tracking: your PPC churn rate.

When it comes to paid ads, most marketers and business owners track metrics like click-through rate (CTR), quality score, and cost per click (CPC). While those are important metrics, they tell only part of the story.

If your PPC conversion rates are high, but your overall revenue isn’t, the issue might not be your ad. It might be that your customers aren’t sticking around.

What is the elusive PPC churn rate, and, more importantly, why should you care?

What Is PPC Churn Rate?

Your PPC churn rate is the number of people who convert via paid ads but don’t hang around. They might buy or subscribe to your product or service from a paid ad and then decide to end the relationship.

It’s similar to a standard churn rate in that it tracks the number of customers who convert but then leave your company. However, your PPC churn rate looks specifically at the customers who convert from your paid ads from platforms like Google Ads.

Why You Should Care About Your PPC Churn Rate

Most PPC metrics tell you how well your ads convince people to buy. For example, CPC tells you how much you spend to get one person to click on your ad. Conversion rates tell you how often people actually purchase from your paid ads.

Those critical metrics let you know if your ad and landing page match, if your targeting is on track, or how well your copy speaks to your audience.

There’s also a lot those metrics don’t tell you.

For example, how well does your onboarding process work? Do your ads focus on the features customers care about the most? Are customers disappointed with your product or service?

Let’s look at a (fictitious) example to see why PPC churn rates matter. I’m looking for a grammar tool, so I type in “grammar help.” The first ad is for Grammarly, and it says it will help me eliminate mistakes and find the right words.

PPC churn rate example

Say I decide to purchase based on that ad. However, a few weeks down the road I find the tool didn’t quite meet my expectations. Maybe it didn’t work as well as I had hoped, was too hard to use, or I found a better solution. I end up canceling my subscription.

Does that mean the ad didn’t work? No, the ad did what it was supposed to do, but something along the way didn’t meet my expectations.

If Grammarly is only tracking their PPC conversion rate and not their churn rate, they might not realize they are losing customers until it’s too late.

Here are a few things PPC churn rate can tell you:

  • how well your onboarding process works
  • whether customers’ expectations match your product or service
  • whether your competitors offer a feature you don’t
  • if your customer service is terrible
  • if your documentation is confusing

If you aren’t paying attention to what and why customers are leaving, you might be wasting valuable ad spend on customers who won’t stick around.

How to Calculate Your PPC Churn Rate

To calculate your PPC churn rate, you’ll need to calculate how many customers sign up from your PPC ads and then how many customers from paid ads you lose by the end of the month.

The formula you’ll use to calculate churn rate is:

(Customers who left by the end of the month / Customers from PPC ads at the start of the month) x100

For example, if your business has 100 customers who converted from PPC ads at the beginning of the month, and it loses 25 of those customers, you’d calculate your PPC churn rate like this: 

(25/100) x100 = 25% PPC churn rate

One of the biggest challenges of accurately tracking PPC churn rate is following customers that convert via paid ads throughout their lifecycle so you can tell when they churn. If you can’t access this data, you can use your overall churn number, but it won’t be quite as accurate.

If possible, use a customer relationship management (CRM) system or other customer lifetime tracking tool to see where customers come from and when they leave.

Strategies for Lowering Your PPC Churn Rate

Now you know how to calculate your churn rate and why it matters, but what happens if you realize there’s an issue?

If you are disappointed in your churn rate results, there are several ways to improve them. Let’s look at a few.

Figure Out Why Your PPC Churn Rate Isn’t Up to Snuff

The first step to addressing a high PPC churn rate is to identify why it is higher. This can be a challenge because there might not be an easy answer, or you might have several issues!

Start by looking at things like:

  • Has your software become outdated?
  • Has a competitor created a better solution or feature you don’t have?
  • Are there issues with the quality of your product?
  • Do you have a customer service strategy?
  • Do you provide documentation?
  • Is your onboarding process lacking?

Perform a competitive analysis and UX testing to try to locate the cause. Customer reviews may also shed light on where customers are struggling.

If you can find the source of your high churn rate, obviously, you can lower it. However, what if the cause of churn isn’t clear? Let’s look at a few other strategies.

7 Ways You Can Use Customer Loyalty to Lower PPC Churn Rate

One of the best ways to reduce churn rate is to make sure your customers are happy. After all, satisfied customers are far less likely to leave.

Here are a few ways to improve customer loyalty.

#1: Offer Loyalty Rewards

Rewarding long-term customers fosters a bond between your brand and your customers. Consider offering high-value customers early access to new features, a dedicated customer support line, or a free month for signing up for a new year.

#2: Make Customer Service a Priority

One of the top reasons customers churn is poor customer service. Don’t make customers wade through terrible documentation to figure out how to use your tool or service. Create an easy-to-use FAQ or video documentation and consider using a chatbot to provide timely service.

#3: Create a Community

People like to feel like they are part of something bigger than themselves. Creating a community lets die-hard fans interact with other customers, allows you to interact with customers, and can drive user-generated content you can use in other marketing efforts. Use a platform like Facebook, Reddit, or Slack to create a place where your customers can get tips, make new friends, and interact with your team.

#4: Reduce Customer Friction

Customer friction refers to anything that makes your customer’s life more difficult. For example, poor UX, a lack of training for customer support teams, or hard-to-navigate documentation. Making it easier for customers to buy, navigate your website, and get information improves customer loyalty by ensuring customers can get what they need quickly.

#5: Make It Easy to Get in Touch With You to Help Lower PPC Churn Rate

Good customer service is crucial to reducing your churn rate. Nothing makes customers cancel faster than struggling to get a hold of support when they have a question or an issue.

Start by responding quickly to messages and posts on paid ads. For example, Sipsey Wilder ran this paid ad on Facebook for their hip bags.

example of treating customers well, which could help your PPC churn rate

The ad has several hundred comments, and the brand made sure to respond to questions and requests from customers.

example customer review - lowering your PPC churn rate

Responding provides customers with the information they need and establishes trust.

Here are a few more tips:

  • In your PPC ad, provide the email address or phone number of your customer service or sales team.
  • Make sure your contact information is displayed clearly on your website and key landing pages.
  • Use a chatbot to provide answers to frequently asked questions.

If customers know they can get in touch with you and count on you to help them, they will be less likely to cancel your product or service when they get frustrated.

#6: Create a Smooth Onboarding Process to Lower PPC Churn Rates

Paid ads might convince a customer to convert, but the onboarding process can make or break how the customer feels about your brand.

Ensure your onboarding process is seamless. If people are confused about how to use or even set up the service your business provides, you have an issue. If customers don’t understand how to use specific features, they might not get any value from your product or service.

Here are a few ways to improve the onboarding process:

  • Make the process easy: Label documents and make them easy to understand. Add action items if necessary. For example, if users need to install a code or sign a document, make that clear and provide documentation to walk them through the process.
  • Ask what contact method they prefer: Some customers may prefer email, others phone. They might be in different time zones. Make sure you know when and how to contact them most efficiently.
  • Offer training and tips: Make sure customers understand how to make the most of your offering by creating an automated email campaign that shares tips on utilizing your tool or product.
  • Only gather the information you need: Some information is critical, like a customer’s language preference or email address. However, do you really need their physical address or company name? While that information might be great for your sales or marketing team, consider whether it benefits the customer or if asking will just annoy them.
  • Take your time: It might be tempting to explain how awesome your tool or service is right away. However, introducing too many features at once can be overwhelming to customers. Instead, use triggered popup boxes or spaced out emails to explain features over time. Start by engaging customers so they care enough to want to learn about all those extra features later.

You could also test your onboarding process every few months. There’s a good chance what works now might not be as successful in six months, or you might find that specific types of customers need more (or less) support during the onboarding process.

#7: Provide a “Cancellation Survey” to Those Who Cancel

If you’ve ever left a job, there’s a good chance you were asked to do an exit interview where the company asked why you were leaving and what they could do to improve. These interviews allow companies to gather honest feedback about things like work culture and management decisions.

Cancellation surveys serve the same purpose: Understanding why customers are leaving allows you to improve and prevent other customers from leaving.

When people go to cancel, attach a survey with just a few questions. For example, when the user clicks “cancel,” a question box could come up and ask why the customer is leaving.

Make it easy to complete by offering a multi-choice answer without too many choices so users don’t get overwhelmed and click away. For example, “too expensive,” “went with a competitor,” or “no longer needed the service.” Create an “other” option with an answer box so customers can leave more detailed feedback if they wish.

Conclusion

Tracking the effectiveness of paid ads starts with tracking metrics like CTR and quality score, but it shouldn’t end there. Tracking your PPC churn rate highlights issues that can tank long-term profits.

Start by figuring out why your churn rate is high and remember that several different issues may contribute to customers leaving.

Next, focus on improving customer loyalty, making it easy for customers to reach you, and streamlining the onboarding process. Finally, ask churning customers why they are leaving. You might find the answer to your problems is an easy fix; and if not, our agency here to help.

Are you struggling with high PPC churn rates? What strategies will you try first?

Business Credit Card That Doesn’t Require Personal Guarantee

Are you looking for a business credit card that doesn’t require personal guarantee?

Get a Business Credit Card That Doesn’t Require a Personal Guarantee

We researched a ton of company credit cards for you. So, here are our top picks.

Per the SBA, business credit card limits are a whopping 10 – 100 times that of consumer credit cards!

This shows you can get a lot more funds with business credit. And it also shows you can have personal credit cards at retail stores. So, you would now have an additional card at the same shops for your small business.

And you will not need collateral, cash flow, or financial data to get small business credit.

Business Credit Card That Doesn’t Require a Personal Guarantee: Advantages

Benefits can differ. So, make certain to choose the benefit you would prefer from this choice of options.

Business Credit Card That Doesn’t Require a Personal Guarantee: 0% APR – Pay Nothing!

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the initial nine months. Afterwards, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel via the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can get unlimited points and points never expire.

Details

There is a 25,000-point sign-up bonus when you spend $1,000 in the initial 60 days of starting the account. Cardholders get travel accident insurance, and lost luggage reimbursement. 

They additionally get trip cancellation coverage, trip delay reimbursement and other benefits.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/ 

JetBlue Plus Card

Consider the JetBlue Plus Card for an additional offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at restaurants and grocery stores. And get one point/dollar on all other purchases. 

Details

Spend $1,000 in the first 90 days and pay the annual fee. So, then you can earn 40,000 bonus points. New cardholders receive a 12-month, 0% initial APR on balance transfers made within 45 days of account opening.

Thereafter, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based on creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 annual fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/  

Outstanding Business Credit Cards with No Annual Fee 

Uber Visa Card 

Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card offers 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, earn 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases. 

So, this includes retailers and subscription services such as Uber and Netflix. And earn 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly in the app.

By spending a minimum of $500 in the initial 90 days, users can earn a $100 sign-up bonus. Cardholders spending a minimum of $5,000 per year are eligible to receive a $50 credit toward online subscription services. 

Details

If you pay your cellphone bill with this card, you are insured up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to specific events and offers. Uber expects most of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. So the APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range. 

Also, there are restrictions on Uber credits. To redeem points as credits within the Uber app, accumulate a minimum of 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, per day.

Get it here: https://www.uber.com/c/uber-credit-card/ 

Costco Anywhere Visa® Business Card by Citi 

Not taking Uber? Then you’ll need to fill your gas tank someway. Why not do so with the Costco Anywhere Visa® Business Card by Citi?

This credit card earns cash back with every purchase. Get 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Get 3% cash back at restaurants and on eligible travel purchases. Also, get 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

So keep in mind: the $0 annual fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.

Also, there is no sign-up bonus available with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Check out the Ink Business Cash ℠ Credit Card. Companies can get cash back with every purchase. Spend $3,000 in the first three months from account opening. And you’ll earn a $500 bonus cash back.

There is a $0 annual fee with a 0% introductory APR for 12 months on purchases and balance transfers. Thereafter, the APR is a 15.24 – 21.24% variable. 

The card comes with travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn extra cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this credit card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is greater. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash 

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Earn 2 miles/dollar with United and at restaurants, gas stations and office supply stores. All other purchases get 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the initial three months from account opening. 

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

Details

Also, get two United Club passes annually. And get hotel and resort perks including upgrades. Additionally, get early check-in and late checkout. And get an auto rental collision damage waiver. 

Also, get baggage delay insurance, lost luggage reimbursement, trip cancellation and interruption insurance. Finally, get trip delay reimbursement, purchase protection, price protection and concierge service.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business 

Starwood Preferred Guest® Business Credit Card from American Express

Another alternative is the Starwood Preferred Guest Business Credit Card from American Express. 

This credit card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Get six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And get four points per dollar at American restaurants, American filling stations, and on US purchases for shipping. 

Also, earn four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, get two points per dollar.

Details

Get 75,000 bonus points when you spend $3,000 in the initial three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection. 

Plus, you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.

The most significant issue is the annual fee. There is a $0 introductory annual fee for the first year, then it’s $95 thereafter. Plus, there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card 

Get Business Credit Card That Doesn’t Require a Personal Guarantee for Average Credit

Capital One® Spark® Classic for Business 

For fair credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is an annual fee of $0.

With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.

But KEEP IN MIND: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus. In addition, this card reports monthly to personal credit. It does report to business credit as well, but they generally require a personal credit check and will always report to personal credit.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/ 

Business Credit Card That Doesn’t Require Personal Guarantee Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Get a Business Credit Card That Doesn’t Require a Personal Guarantee for Luxurious Travel Points

IHG ® Rewards Club Premier Credit Card

Have a look at the IHG ® Rewards Club Premier Credit Card. it earns hotel rewards worldwide. For every dollar spent at participating IHG hotels, get 10 points. Get two points per dollar spent at gas stations, grocery stores and restaurants. 

Plus, all other purchases earn one point. New cardholders can earn an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.

Details

This card offers a free one-night hotel stay each year. Plus, there is a variety of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.

The most significant issue is that the card does not offer a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the annual fee is $89.

Get it here: https://creditcards.chase.com/a1/ihg/premiernaep 

Marriott Rewards® Premier Plus Credit Card

This credit card earns six points/dollar spent at participating Marriott and SPG hotels. And get two points/dollar on all other purchases. 

Spend $3,000 in the initial three months from account opening and get two free night awards (each valued up to 35,000 points). 

Cardholders get access to perks including a free one-night stay yearly after account anniversary. Also get travel and purchase protection. So, this includes free standard in-room Wi-Fi and priority late checkout.

Details

Perks include baggage delay reimbursement, and lost luggage reimbursement. There is also trip delay reimbursement. And there is purchase protection. Additionally, there are concierge service and automatic Silver Elite status, which includes a 20% bonus on points. 

Spend $35,000 each account year and get an upgrade to Gold Elite status. So, that includes a complimentary room upgrade, free daily breakfast and 4 PM late checkout.

There is an annual fee of $95. The APR is a 17.99– 24.99% variable.

Get it here: https://creditcards.chase.com/marriott/apply 

Get a Low APR/Balance Transfer Business Credit Card That Doesn’t Require a Personal Guarantee

Discover it® Cash Back

Have a look at the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.

Details

You can get 5% cash back at different places every quarter. So, these are places like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Additionally, automatically get unlimited 1% cash back on all other purchases.

You will earn an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html 

Get a Business Credit Card That Doesn’t Require a Personal Guarantee With a Credit Builder Option

Discover it® Student Cash Back

Make sure to have a look at the Discover it® Student Cash Back card. It has no annual fee. The credit card also has a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.

One distinct feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit annually. So, this is for up to five years.

Details

Use this card to build personal credit. While this is a personal credit card versus a company card, for new credit users, their FICO scores will be vital. And this credit card offers an outstanding way to raise FICO. This is while also getting rewards. Better personal credit can also, often, be the key to unlocking online lending.

You can earn 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com. So, that’s up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.

In the first year, all cash back rewards are matched 100%.

Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is more. And even though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html 

Get a Business Credit Card That Doesn’t Require a Personal Guarantee for Cash Back

SimplyCash Plus Business Credit Card from American Express

Consider the SimplyCash Plus Business Credit Card from American Express. There is a $0 annual fee. And there is a 0% APR on purchases. So this is for the first 15 months an account is open. 

But when the introductory period ends, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This credit card has several benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.

Also, earn 5% cash back at US office supply stores and on wireless phone services. So, these must be bought from American service providers. But this applies to the initial $50,000 of yearly spending. Then, you earn 1% cash back.

You also get 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending. Then, you earn 1% cash back.

Cash-back bonuses are automatically credited to the customer’s billing statement.

Note: you cannot use this credit card for balance transfers. There is a foreign transaction fee of 2.7%. The credit card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%. 

And, it applies if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279 

Capital One® Quicksilver® Card 

Look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards which cardholders can earn. Also, the card has a $0 yearly fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that. 

A cash bonus of $150 is on offer for those who make at least $500 in purchases within 3 months of account opening.

Details

Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

This card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/ 

Business Credit Card That Doesn’t Require Personal Guarantee Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Get a Secured Business Credit Card That Doesn’t Require a Personal Guarantee

Wells Fargo Business Secured Credit Card

Have a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per credit card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000). And it is designed to help cardholders set up or rebuild their credit.

Select this credit card if you wish to get 1.5% per dollar in purchases without any limits. Or earn one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a credit card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/ 

Grab a Business Credit Card That Doesn’t Require a Personal Guarantee for Jackpot Rewards

Ink Business Preferred ℠ Credit Card

Get a look at the Ink Business Preferred Credit Card from Chase. Cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising with the card. So, this is up to $150,000 each year. And all other purchases earn an unlimited one point per dollar spent.

This is a Visa card.

Cardholders get benefits like purchase protection, trip cancellation or interruption insurance. They also get cellphone protection. And they get extended warranty coverage. And they get an auto rental collision damage waiver.

Details

Earn 80,000 bonus points when you spend $5,000 in the initial 3 months from account opening. There is an annual fee of $95. You can add employee cards at no additional cost.

This credit card only offers 3 points per dollar to a limit of $150,000 a year. So, this is for travel, shipping, internet, cable, phone and qualifying advertising. All other purchases earn an unlimited flat rate of one point per dollar. And there is no introductory APR

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-business-preferred 

No PG Biz Credit Card Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

The Best Business Credit Card That Doesn’t Require a Personal Guarantee for You

Your absolute best business credit card that doesn’t require a personal guarantee will hinge on your credit history and scores.

Only you can select which features you want and need. So, be sure to do your homework. What is outstanding for you could be catastrophic for other people.

And, as always, be sure to develop credit in the recommended order for the best, quickest benefits.

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New comment by lambda123 in "Ask HN: Freelancer? Seeking Freelancer? (November 2019)"

Seeking Work From developing MVP from scratch alone, to doing growth hacking, to leading international teams spanning across continents, I have done it all. Location: Asia. Internet. Planning to relocate to Canada soon. Remote: Yes. Resume: https://docs.google.com/document/d/1fvnKGKM6T2yAtkMhShAyxJtS… Willing to relocate: No Technologies: Rails 2.x, Rails 3.x, Rails 4.x , Rails 5.x, Rails 6.x Sinatra, Ruby …

New comment by theo_vitl in "Ask HN: Who is hiring? (November 2019)"

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The Treasure Hunt for Low Rate Small Business Loans

How to Hunt down and Capture Low Rate Small Business Loans

When Indiana Jones was on the hunt for a rare artifact, he always knew everything he possibly could about it before he got started.  His treasures were always surrounded by mystery, but he was able to find them based on the information he learned. The same is true of low rate small business loans.  By learning as much as you can about them, you empower yourself to not only find them, but to bring them home.

Everyone wants low rate loans, but not everyone can get them.  It takes a special type of lender and borrower.  We can tell you how to be the right borrower and how to find the right lender.  Let’s start with the basics.

What is the Interest Rate?

Lenders don’t let you borrow money out of the kindness of their hearts. Unless they are specifically designed as a non-profit entity, lenders are in it for the money.  The main way they make money is by lending you money, and requiring you pay back what you borrowed, plus some.  The amount of the plus some is dependent on the interest rate.  It is a percentage of the amount you borrowed that you must pay the lender in return for allowing you to borrow the money.  In short, it is the cost of the loan.

It’s important to remember that there are often other costs associated with loans in the form of various fees.  The interest rate however, is how the bread is buttered.

Learn business loan secrets with our free, sure-fire guide.

What’s Qualifies as a Low Rate?

The next logical question that comes to mind when thinking about low rate small business loans may be, what qualifies as a low rate?  I mean, you have to know exactly what it is you are looking for.  When talking about business loans, an interest rate lower than 10% is low.  There are not a ton of these out there, and they are hard to get, but they do exist.  That’s what makes them a treasure worth hunting.

Who Gets Low Rate Small Business Loans?

Not only are low rate small business loans rare, but the borrowers that can obtain them are even more rare.  The thing is, it takes a borrower with a good credit score, solid revenue, and an established business to get this kind of treasure.

Why is this?  Well, higher interest rates are a way to balance out perceived risk.  If a lender sees you as a potential risk, they want to ensure they get as much of their money as they can.  They raise the interest rate so that they get more profit with each payment you make.  If they think that you are a low risk borrower, they will be willing to lend more money at a lower rate.  That’s because they are not as concerned that you will default on the loan.

Which Types of Lenders Offer the Lowest Rates?

The other thing that makes low rate small business loans a rare treasure is that you can’t get them from just any lender.  As a general rule, the lowest rates come from traditional lenders.  These are the big banks, community banks, and credit unions.

These lenders all lend directly, but some also partner with the Small Business Administration to offer lower rates to those that would otherwise not qualify for them.  Find out more about the Small Business Administration here.

Small Business Administration Low Rate Small Business Loans

The SBA offers a number of loan programs through partners lenders.  They vary in uses and eligibility requirements. Some of the most popular include:

7(a) Loans

This is the Small Business Administration’s main loan program. It offers federally funded term loans up to $5 million. Funds are allowed to be used for expansion, purchasing equipment, working capital and more.

The minimum credit score to qualify is 680, and there is also a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. They’ll accept experience equal to two years in the case of startups.

504 Loans

These loans are also available up to $5 million and can buy a number of things includings land, facilities, and even machinery. Terms range from 10 to 20 years, and funding can take from 30 to 90 days. They require a minimum credit score of 680.  They consider the asset that the funds are used for to be collateral. There is also a down payment requirement of 10%, which can increase to 15% for a new business. You must be in business for two years or have equivalent management experience if you are a startup.

Learn business loan secrets with our free, sure-fire guide.

Microloans

Microloans are available in amounts up to $50,000. They are are good for starting a business, purchasing equipment, buying inventory, or for working capital. Community based nonprofits handle microloan programs as intermediaries.  Financing comes directly from the Small Business Administration.

Interest rates run 7.75% to 8% above the lender’s cost to fund, and the terms go up to 6 years. Funding may take up to 90 days, and the minimum credit score is 640.  Collateral and down payment requirements vary by lender.

SBA disaster loans

Available in amounts up to $2 million, these are actually processed directly through the SBA. They are available to small-business owners that have been affected by natural disasters.  Terms go up to 30 years, and the maximum interest rate is 4%.

The minimum credit score for disaster loans is 660. Collateral is necessary if the loan goes over a certain amount, usually $25,000, if it is available or when it becomes available. For a military economic injury disaster that amount is $50,000. There is no down payment requirement regardless.

SBA Express loans

These loans max out at $350,000 and have a maximum interest rate of 11.50%. Terms range from 5 to 25 years, and the SBA guarantee is less than with their other loan programs at 50%. To qualify, your credit score must be above 680, and you must have a debt to service ratio of 1.1 or higher. If the loan is greater than $25,000, collateral may be necessary depending on the lender.

The turnaround for express loans is much faster, with the SBA taking up to 36 hours to give a decision. Necessary paperwork for application is less also, making express loans a great option for working capital as well as other things.

Low Rate Small Business Loans from Alternative Lenders

There is no way around the fact that alternative lenders have higher interest rates.  They cater to those that do not qualify for loans from traditional lenders.  Consequently, they are catering to borrowers that are innately higher risk.  They do the same as any lender, and increase interest rates to balance out the risk.

Far and away SBA loans are the best bet for most when it comes to low rate small business loans.  If your business is strong but you don’t quite hit the mark for a standard loan, they are a great option.  The application process is much longer and way more involved that others however.

There are a couple of alternative lenders than have streamlined the process.

low rate small business loans Credit Suite2

SmartBiz

This lender offers loans backed by the SBA that borrowers can use for a variety of purposes.  Examples of acceptable uses include working capital, inventory, expansion and debt consolidation. If you want $150,000 or less, they require a credit score of at least 600, $50,000 annual revenue, and a minimum of 2 years in business. For amounts higher than $150,000, the requirements are the same except the credit score minimum increase to 650.

Live Oak Bank

This is another option for a faster SBA loan process if your business is part of one of 17 specific industries.  These industries include:

  • accounting and tax firms
  • Agriculture/poultry
  • Automotive
  • Educational services
  • Family entertainment
  • Funeral service
  • Government contracting
  • Healthcare and dental
  • Hotel
  • Insurance
  • Investment advisory
  • Pharmacy
  • Renewable energy
  • Self-storage
  • Senior care
  • Veterinary
  • Wine/craft beverage

The minimum credit score for these loans is 650, but the other requirements are pretty lose.  For income, they only require that cash flow can support the debt.  There is no minimum time in business requirement.

How to Turn the Tide of Low Rate Small Business Loans in Your Favor

Once you understand how things work, you can get a handle on why these loans seem to stay just out of your reach.  The thing is, there is no way around the fact that a higher credit score translates to lower interest rates.  The thing to do then, would be to increase your credit score.  It won’t seal the deal, but it will take you almost all the way.

When you are a business however, you have two scores to worry about.  You need to ensure your personal credit score stays up to par for a number of reasons, but you also need to be concerned with your business credit.

Here’s the thing.  In general, you need your business credit to be completely separate from your personal credit.  All of your business financing should ideally be based on your business credit.  Practically however, it doesn’t work this way. Most traditional lenders, the ones with those low rate small business loans, look at your personal credit score.

In addition, a couple of the business credit reporting agencies use your personal credit score in your business score calculation.  That means that even though you definitely need the scores to be separate, you cannot forget about your personal score, even when it comes to business financing.

How Do You Improve your Personal Credit Score?

The first thing you do is get a free copy of your credit report.  You can get one each year.  Take a look at it and review what it on it.  If you see mistakes, dispute them with the credit agencies in writing.  Then, look at what may be negatively affecting your score.  Are you making late payments?  Stop that.  Paying on time is non-negotiable for improving credit.

Look at your balances in relation to your limits.  Are you close to your limits?  Pay those balances down as soon as possible.  That has a definite negative affect on your score.  Another issue is the average age of accounts.  If all of your accounts are relatively new, that is going to bring your score down.  There isn’t a lot you can do about that other than just wait, but be aware that each time you add a new account, the average age of your accounts decreases.

Build and Improve Business Credit

Business credit is credit in a business’s name. It doesn’t attach to a business owner’s individual credit.  When you have business credit, business transactions do not affect your personal credit at all. Consequently, an entrepreneur’s business and individual credit scores can be very different.

How to Get Business Credit

Establishing small business credit does not happen automatically. A business must work intentionally to make it happen.   The first step is to appear fundable to lenders and vendors. This begins with how you organize your business.  Sole proprietorship may be the easiest option, but it is also the most sure-fire way to ensure your business accounts end up on your personal credit report.

You need to choose to operate as either an LLC, S-corp, or a corporation.  For business credit purposes it doesn’t matter which one.  Choose the option that best fits your tax needs. You’ll also need an EIN.  It is an identifying number for your business similar to how an SSN is a personal identifying number.  Get an EIN and start the incorporation process at IRS.gov.

A professional-looking website and email address are also important. Web hosting should be bought from a merchant like GoDaddy, not from a free service.  A free email account will not work either.  It needs to have the same URL as your website.

A dedicated business telephone number and address that are not the same as yours are necessary as well.  Be sure there is a business listing on 411.  You can do that here.

In addition, you need a business bank account.  Be sure it is in the business name and that only business transactions run through it.

Learn business loan secrets with our free, sure-fire guide.

Once you have all this in place, go ahead and apply for a D-U-Ns number. Just go to the D&B website. A D-U-N-S number is how D&B gets a business in their system.  Therefore, if you do not have one, you do not have a business credit score with Dun & Bradstreet.  Since they are the largest and most commonly used business credit reporting agency, you need a D-U-Ns number to have business credit.

What Next? Building and Improving Business Credit

After all of this is set, you have to get accounts reporting.  If you already have business credit but need to improve it, you will follow this same process.

Start with establishing trade lines that report. Do this with vendors that are in the vendor credit tier. Then you’ll have an established credit profile, and you’ll get a business credit score. With an established business credit profile and score you can begin to acquire credit in the retail and cash credit tiers.

The vendor credit tier including those vendors that will extend net 30 terms without checking your credit, and then they will report your payments to the business credit reporting agencies.  Find out more about the business credit building process here.

Monitor Your Business Credit

You can’t stop there.  You will not know what kind of credit you have or if you can move on in the tiers without monitoring your credit.  Go to www.creditsuite.com/monitoring to do so at a fraction of what it costs with the credit agencies directly.  There is no option for a free business credit report like there is with personal credit reports.

Low Rate Small Business Loans Exists and Your Business Credit Can Help You Get Them

Now the big question.  Low rate small business loans generally come from traditional lenders. Traditional lenders look at your personal credit score.  How can business credit help you get low rate loans?

If your personal business score isn’t quite up to par, but you have an established business with a strong business credit score that meets the other requirements, they may be willing to give a little.  There is no guarantee, but it does happen.  Either way, a strong business credit score means you can access the business funding your need through another channel, even if the traditional ones don’t pan out.  It’s a virtual guarantee you can get the funding your need to grow your business.

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Happiness achieved again for our client in TX… $20,000.00 in Business Revenue Financing!

Our client had desired extra working capital and to cover the cost of new hire expenses.  All he had to do was provide us with his last six months of bank statements and an application to proceed with financing.  He was so pleased with our help in getting financing a couple months ago that he came back to us with his needs.

With this he was able to help his business succeed and meet the goals he had set.

Congratulations on your success; so happy to be a part of it!

Click Here to see how much funding you can get for your business.

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