The Ultimate Guide to SEO for E-commerce Websites

If you’re retailing products and want to reach the widest audience possible, having a well-optimized e-commerce website is an absolute must.

Why? Well, there are several benefits.

A great e-commerce website helps you understand the basics about your customers, for example, demographics like their locations, age groups, and how they found you.

By using tracking, you can then use your visitor’s information for behavior analysis to get to know them even better.

An e-commerce website does more than this, though. It can also help you understand where things are going wrong. For example, which traffic sources don’t work, which offers don’t appeal, and cart abandonment issues and their potential causes.

Of course, the more obvious reason you would want to have your site fully optimized: the growth of e-commerce worldwide. Year on year, e-commerce keeps growing, and this pattern looks like it will continue.

If you’re already online, that’s great. However, you risk remaining invisible to fresh prospects and new leads if you don’t take proactive steps to increase visibility.

How do you do that? It’s simple enough: with SEO for e-commerce.

What Is SEO for E-Commerce?

SEO for e-commerce is a strategy that helps web retailers rank higher in search engine results. A well-designed and optimized website with high-quality content will rank better in search engines such as Google, increasing your store’s visibility and driving traffic.

In other words, SEO for e-commerce concentrates on optimizing your site, which makes it easier to get leads and conversions.

However, unlike SEO for content-focused websites, SEO for e-commerce is more than just adding keywords, writing blog posts, and gaining links. You need to understand how search engines work and what they reward.

That means having a working knowledge of SEO for e-commerce, considering Google’s guidelines, analyzing buyer intent, and implementing it strategically.

E-Commerce SEO Best Practices

E-commerce for SEO is a complex field, and with millions of online retail sites in existence, it’s not always easy to make your site stand out.

While it might seem like a huge challenge to build your SEO rankings, you can make a positive start by applying some best practices. In time, this increases your chances of visibility and gaining more organic leads and customers.

For the unfamiliar, what do best practices for SEO for e-commerce look like? Well, you could start by addressing fundamentals like:

  • navigation
  • internal links
  • avoiding clutter
  • creating unique content
  • including alt text for images

However, there’s far more you can do. Below, explore our list of SEO for e-commerce best practices you can implement today.

1. Perform Keyword Research the Right Way

There are many different ways to optimize your e-commerce site, and not every approach is suitable for every site or product. However, some guidelines apply to every online retailer, and one of them is performing keyword research correctly.

Yes, you want the most relevant and popular keywords in your industry, but you must also understand buyer intent.

Keyword intent is the intention behind a search query. You can identify it by looking at the specific phrases and terms people use when looking for an item online.

There are two main types of keyword intent you see most often.

Informational Keyword Intent

Informational keyword intent is used in SEO to describe the type of information the searcher is looking for.

These types of searches usually consist of:

  • How tos: These are searches that contain questions such as “how do I?”
  • Direct purchase: These involve searches with keywords like “buy this.”
  • Factual queries: These use words such as “fact” and “information” when a searcher wants more details about a subject.

Commercial Keyword Intent

Commercial keyword intent is when people are looking for information to help them make a purchase. This means that they want to find what they need and buy it as fast as possible.

Consumers typically use commercial keyword intents when they know what they want but don’t know where to find it yet. You see this when you’re typing specific terms into Google like “buy digital camera” or “find new laptop deals.”

Commercial keyword users typically have more intent to purchase and are less likely to search for information about the product or service than just researching where to find it.

Determining Keyword Intent

Deciding consumers’ keyword intent seems challenging, but you can make it easier on yourself. For example, AgencyAnalytics breaks it down into stages.

  1. Analyzing SERPs: Pay special attention to paid ads, knowledge graph results, and organic listings.
  2. Look at Google ads for commercial intent: Seeing bid prices for keywords gives an idea of how competitive keywords are.
  3. Review your analytics: Look for content with high bounce rates as it may mean it doesn’t match with searcher intent.

You could also use keyword tools like Google’s keyword planner. Others you can try include:

Ubersuggest

Ubersuggest is a free online tool that can find long-tail and related words to any topic or keyword, or you can opt for the paid version.

This tool is great for content writers, bloggers, copywriters, and marketers who want to generate new content ideas or find out what users are searching for about a given topic.

Features include:

  • backlink data
  • rank tracking
  • site audit reports

Backlink Data

To see what backlinks you are getting from other sites, go to the backlink analyzer under SEO Explorer. This can help you see who is already a fan and what related sites you can target for more linkbuilding.

Backlink analyzer example

Rank Tracking

See how you rank in organic SERPs for your target keywords with Ubersuggest rank tracking. That way, you can see how you have improved over time. This is under Dashboard on the left side.

SEO for ecommerce tracked keywords example

Site Audit

Run a site audit to track what issues need to be fixed on your site that could be affecting user experience and organic traffic. Think of the audit as a starting point, then review it regularly to make sure you’re fixing other issues. This is under the SEO Analyzer section. One the audit has run, it will tell you your top SEO issues and how to fix them.

SEO for ecommerce: site audit SEO issues example in ubersuggest

It also has a free chrome extension to do keyword research while you’re conducting Google or YouTube searches.

Answer the Public

Answer the Public is a great tool. It lets you uncover what people all over the world are curious about and going through.

Answer the Public is intuitive, too. Just enter your keyword on the homepage to understand precisely what people are asking. It can also help you find which topics are most popular at any given time, which might be helpful as another tool for keyword research. However, if you want further guidance, there’s a set of tutorials available.

It’s free to use, but you can upgrade to pro for more features. The following example uses “multivitamins.”

Guide to SEO for E-commerce - Perform Keyword Research the Right Way (Answer the Public Image Search)

The results give a detailed picture of the kind of questions people are asking and give a better idea of intent.

2. Optimize Product Pages to Improve Ranking

If you want to attract and acquire new customers, look at your on-page user optimization. It matters because it gets your site a higher rank, meaning fresh streams of organic traffic and more conversions.

Not every area of your e-commerce site needs optimizing, so in this section, let’s focus on the ones that matter most to online retailers: product descriptions, images, and reviews.

Optimize Your Product Descriptions

A product page is interesting because it has a lot of different features that all need attention. You also want a few things to stand out from the page to gain visitors’ engagement and get them to click through.

To begin optimizing your e-commerce product pages, you need to keep in mind three key aspects:

  1. What are the most crucial things on the page?
  2. How can you maximize visibility and impact with these elements?
  3. How can you use this information to improve your product description’s effectiveness?

Now, start looking at what you can do to maximize the impact of your product descriptions. This could be things like.

  • adding multiple, high-quality, unique images
  • including keywords
  • including detailed, keyword-rich descriptions
  • adding calls to action (CTAs)
  • including testimonials

Optimize Your Images

A sometimes neglected area of SEO for e-commerce is images. Photos are an excellent way to communicate a message and draw in an audience. However, they can also distract people from the message you are trying to convey, so be careful not to use too many images and crowd your descriptions.

Although quality images are vital to show your goods at their best, there’s more to it than that. Optimizing your images for SEO will give you higher search engine rankings and more traffic from potential customers and may gain you traffic from social media channels.

Here are some pointers for optimizing your images:

  • Choose suitable images for your platform. Your host usually specifies optimal image sizes and other image guidelines.
  • Provide captions with alt tags for pictures.
  • Use the right keywords in file names.

Feature Reviews

Reviews provide a snippet of information that helps shoppers weigh whether to go with a particular product or store.

Reviews are vital for success in e-commerce as so many people rely on them. Additionally, they help you build trust with your potential customers and improve conversion rates.

You can encourage customers to leave reviews by sending automated messages whenever they purchase. You can also set up email campaigns to send out reminders or offers once they have left a review on your site.

Before moving on, here are more optimization tips:

  • Use canonical tags to link duplicate product pages and similar group products together.
  • Create a well-written page that includes the necessary information about the product, an image of the product, and a video of it in action.
  • Include at least one CTA on your product page. For example, “Add To Cart” or “Check Availability.”
  • Make sure you include shipping details and policies upfront so customers know what they’re paying from the start.

3. Make Sure Your Site Is User Friendly

UX stands for user experience. You can enhance UX by good design, making the aesthetics more visually appealing.

However, it’s not just about making a website look good; it’s about making it work well. UX includes everything from navigation, ease of use, and the overall “feel” of the website.

UX is also about making sure people can find what they are looking for, keeping them engaged while browsing, and giving visitors the best experience possible.

You may not think that UX affects SEO, but the interaction between the two began some years ago, and UX is also imperative for discoverability.

Additionally, recent changes mean that UX is soon to be a Google ranking factor. According to Search Engine Land, that means if Google thinks your website offers visitors a bad experience, it may rank lower. Google measures the new ranking with “Core Web Vitals” and has set out its guidelines online.

Many things can influence UX, but a few key factors are apparent:

  • Ads shouldn’t interfere with the user’s view of content.
  • Your site should load quickly and be mobile-friendly.
  • Any website should be clutter-free and easy to navigate.
  • You should include CTAs, so customers know what to do next.

Finally, use consistent styling throughout, and make it accessible.

4. Don’t Forget Long-Tail Keywords

You usually see long-tail keywords on the right side of a search engine results page (SERP).

A long-tail keyword is a term that typically has low search volume but still meets the criteria for relevancy to your business. They also tend to convert well because they’re a better match for what the searcher is looking for, and they typically give higher traffic.

For those reasons, you shouldn’t be afraid to rank for long-tail keywords because they’re a valuable source of traffic.

Long-tail keywords are great for:

  • competitive niches
  • increased conversion rates
  • ranking new sites more easily

You can find long-tail keywords by using Google’s “People also ask” or use a free keyword tool like Ubersuggest. There are plenty of other tools available too.

The following example uses Wordtracker, where the search for “dumbells” delivered this:

E-Commerce SEO Best Practices - Use Long-tail keywords

As you can see, they give you a firm idea of what your customer is looking for and of their intentions.

5. Use a Simple URL Structure

There are more detailed guides on URL structures, but this section gives you the basics.

A simple URL structure not only enhances the user experience but also improves your SEO e-commerce efforts to some extent.

Additionally, when your e-commerce site has a simple URL structure, it’s easier to share products on social media and other websites, and it can improve SEO for e-commerce as it provides more relevant data for search engines.

For the best results, URLs should be as readable and understandable as possible.

For instance, here’s an example of what NOT to do: https://www.example.com/article-about-hiking/

It would be much better to use this URL structure: https://www.example.com/hiking-articles

Google also has some advice on improving URL structure.

Additionally, you can:

Use Keywords

Search engines scan the URL and use the keywords in the URL to determine where that page should rank in the SERPs. The keywords in the URL are called “metatags” and help tell search engines what the content or topic of that page is.

That’s why you must spend some time thinking about your keywords before deciding on a URL structure.

When people search for your business online, they often type in the precise words they’re looking for. As an example, a person may type in “online shoe store” into a search engine.

Therefore, when someone types in “online shoe store,” it’s crucial those words are somewhere in your URL structure.

Use Breadcrumbs

Breadcrumbs are a navigational tool. They allow website visitors to retrace previous steps and return to where they started. Breadcrumbs are not just a usability technique but also provide additional SEO benefits.

For example, if you visit a blog post from your main homepage, the breadcrumb for that post would be “Home > Blog > This Post.”

You find breadcrumbs in many web design tools, and you can add them by using markup tags or via JavaScript.

Avoid Stop Words

Common stop words are “the,” “and,” “of,” and “a.”

Stop words can decrease your content’s readability and may lower your SEO rankings.

In addition, stop words are less likely to hold a reader’s interest. By removing these words from your website, you can use those spaces for more creative and relevant copy.

6. Use Schema Markups to Help Google and Users Understand Content

Schema markups are HTML tags that provide additional information about the content on web pages. By using these markups, it can improve your SEO for e-commerce efforts.

When you use schema markup, it produces rich snippets. These are a way for search engines to show more information about specific items in the search results.

They also help people find what they are looking for faster and easier by showing different types of information.

There are many different types of rich snippets, such as:

E-Commerce SEO Best Practices - Use Schema Markups

The kinds of e-commerce schema are:

  • Product schema: This is an extension for products, services, and organizations. It enables discovering new products and services in web search queries by providing rich product information such as images, price, and availability. Product schema also allows the display of product ads on the SERPs.
  • Review schema: This enables online reviews. The author and title filters allow you to find specific people who have written reviews on your website or blog post and for searchers to find product reviews.
  • Product availability schema: The product availability schema is a list of products that are available to purchase. It can be a single page, or it can be within an online store. Such lists typically detail the product name, description, price, images, and variants.
  • Video schema: Video schema is a type of metadata used to describe the content and format. For example, video schema may include the audio language, video resolution, or age rating of the video.
  • Price schema: Price schema is a technique for the pricing of products or a price range.

7. Avoid Duplicate Pages and Content

Have you ever visited a website and got the feeling you’ve read it all somewhere before? That’s all too common with production descriptions and category descriptions when online retailers use duplicate product catalogs and images.

It’s understandable why e-commerce sellers just republish the same descriptions. Usually, it’s simply because they don’t have the resources to produce fresh content themselves.

However, even if you don’t have time to rewrite everything, you can still significantly reduce the amount of duplication on your site in product descriptions and other areas.

For instance, by

  • using a CMS with site-wide 301 redirects or adding canonical tags on every page that you know might have duplicates (pages with similar titles, pages that share an identical URL, etc.)
  • adding a suffix to the URL
  • using different product images
  • adding unique keywords on other pages

8. Don’t Let Page Speed Kill Your Ranking

Website page speed loading time is the measurement of how long it takes for an internet user to open a web page. You can measure it by adding up the time to download all the non-hidden assets, such as images, scripts, and stylesheets.

Page speed is a ranking factor, and survey after survey shows consumers aren’t willing to wait around while a site loads.

Web-users say their ideal site speed is just two seconds, but the faster, the better. If you’re not sure about your current speeds, you can test it at Cloudflare or try Google’s tool.

What should you do if your site is too slow? First, you need to find the reason. It could be:

  • Your site simply has too much content for your server to handle.
  • Too many scripts are slowing down load times.
  • Images take an excessive amount of time to load.
  • There’s a problem with your web host.

While not all e-commerce site owners can guarantee a perfect 100 percent on Google’s PageSpeed Insights, you can try and fasten load times by:

  • having fewer images on the pages
  • compressing files
  • using fewer social media widgets
  • optimizing your images
  • avoiding clutter and using plenty of white space
  • limiting redirects and HTTP requests
  • fastening your server response time

Additionally, you might want to think about changing web hosts or upgrading your hosting package to accommodate your needs better.

9. Content Does Matter for E-Commerce

E-commerce isn’t just about images and keywords. Written content should also be part of your SEO for e-commerce strategy.

Posting regular content not only attracts organic traffic. It can gain your customers’ trust, boost your website rankings, and solidify your reputation as an expert in your niche too.

There are many types of content you can focus on:

  • sharing how-to pieces and answering FAQs
  • new product launches and anything newsworthy
  • a glossary page
  • including user-generated content (UGC)
  • testimonials and launches
  • video demonstrations and Q and As
  • webinars

For more ideas, take it a step further and get to know your audience so you understand their main concerns and problems. This allows you to write content that addresses their everyday worries and offer products that solve these.

Now you’ve got some ideas for content. However, content isn’t worthwhile without a strategy behind it. Let’s break it down:

  1. Get to know your customers better with buyer personas.
  2. Understand their preferred content. If you’re tracking your content data, you should see which content types get the most views. Additionally, you can ask customers and prospects through surveys or groups.
  3. Establish a content calendar and create the content.
  4. Publish the appropriate content for the various stages of the buying cycle.
  5. Use A/B testing in key areas like titles.
  6. Measure the results and tweak.

10. Link Building for E-Commerce

Link building is a ranking factor for SEO. Quality links tell Google that your site has credibility. Backlinks also influence how your website ranks for keywords.

Sounds great, doesn’t it? But just how do you go about creating these all-important backlinks?

A few ways to do this are:

  • creating internal backlinks
  • writing guest posts
  • using social media ads
  • sharing content on social media
  • issuing press releases
  • writing blog comments and sharing on forums (if allowed)
  • creating infographics and sharing them online
  • issuing whitepapers and case studies

These are all legitimate ways to build quality links. Although they can take time, you shouldn’t take shortcuts by buying links. Some paid links violate Google’s guidelines, and if you’re buying cheap links, the quality is usually questionable. Poor quality links lead to lower SERP rankings and reduced traffic, as well as a potential negative impact on your site’s reputation.

11. Add a Sitemap

A sitemap is a visual representation of your website or digital product. It provides visitors with a bird’s eye view of the website and explores different pages.

Your sitemap should detail all of the pages on your site, from category pages to product pages. It should also include all the subcategories, products, and other content within those sections.

You can develop a sitemap manually or use an automated tool such as Google’s Webmaster Tools to generate one. Sitemaps use both XML and HTML, although HTML sitemaps are more helpful to visitors.

Other tools for creating a sitemap are:

Lucid Sitemap Generator

The Lucid chart sitemap generator is a user-friendly tool that makes creating a sitemap for your website easy. It has many features, like adding categories and subcategories.

Powermapper

Powermapper is an easy-to-use tool for creating and updating sitemaps and allows you to generate one-click checkouts.

It’s a web-based tool with no coding expertise required. However, there is a fee.

12. Make Social Sharing Easy

Google’s Matt Cutts once said that social sharing doesn’t impact SEO, but many would disagree.

While social media sharing may not directly affect your SEO, sharing your content on social media increases brand exposure and gets people more familiar with your business.

Further, the more mentions you get on social media, the more influence this can have on your SEO by:

  • driving organic traffic and increasing visibility
  • improving local SEO
  • expanding your content reach and enhancing brand recognition
  • increasing backlinks

If you want an easy way to increase your shares on social media, consider getting a tool like Buffer or Hootsuite to automatically post content from your site across all of your social media accounts at scheduled intervals.

Frequently Asked Questions About SEO for E-Commerce

How do I Find the Right Keywords For my E-commerce Store?

There are several free resources that you can use to find keyword ideas, such as Google AdWords, Ubersuggest, and Google’s Keyword Tool. You should also look at what your competitors are using to find the best keywords for their audience.

Finally, avoid using broad keywords that generate many clicks but don’t provide much conversion value. Use long-tail keywords where you can.

How Much Does SEO for E-Commerce Cost?

The cost of SEO depends on many factors, including the number of keywords targeted, competitive landscape, and how much effort you need to optimize each page for ranking.

It’s not easy to put a price tag on SEO because it depends on how many resources you allocate and what you want to achieve. To help you budget, Search Engine Journal provides an SEO budget calculator.

What Is SEO for E-Commerce?

SEO for e-commerce is the process of optimizing a website so that it can rank more highly in search engines. Several factors affect how well a website ranks on the SERPs, such as the quality and relevance of the content, the use of appropriate keywords to optimize the site, and the site’s load speed.

How Is SEO for E-Commerce Different?

When it comes to SEO for e-commerce, there are different areas you need to focus on, such as optimizing:

  • product pages and descriptions
  • diversifying product content and information
  • images on your website
  • your homepage

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SEO for E-Commerce Conclusion

SEO for e-commerce helps boost your website visibility, brings new queries and customers, and helps build your loyal audience.

It may seem like there’s a lot to think about. However, by concentrating on the main SEO best practices and optimizing the critical areas of your website, it doesn’t have to be as complicated as it sounds.

The most important thing to remember is SEO for e-commerce doesn’t happen overnight. Instead, it’s an ongoing strategy that requires updating as you go to get the optimum results.

What is your experience of SEO for e-commerce? Tell us below.

New comment by canceriqskim in "Ask HN: Who is hiring? (March 2021)"

DEVOPS ENGINEER & SOFTWARE ENGINEER OPPERTUNITIES @ CancerIQ

HealthTech | SaaS Start-Up | Chicago, IL | FULL-TIME | REMOTE or ON-SITE | No Visa Sponsorships at this time

CancerIQ is building intelligent analytical technologies aimed to optimize cancer risk prediction, prevention, and treatment. We do this by providing care providers with workflow tools built upon informed decision engines and data-driven classification models. Our mission strives to engage and educate patients, and guide them through the complex, convoluted, and intimidating journey of cancer prevention.

Our Engineering team is looking for curious minds that want to solve problems, write elegant code, and iterate quickly. We are a group of ambitious devs who love all things science, web, and technology.

https://apply.workable.com/canceriq/j/D178A0597A/
https://apply.workable.com/canceriq/j/8665ED66B3/

-Competitive pay and benefits (health insurance, travel subsidies, discount programs)
-Health insurance, commuter benefits, 401k, equity
-Saving Lives

The Three Main Powers Of Network Marketing

The Three Main Powers Of Network Marketing Multi level marketing, ‘MLM’, as well as Multi Level Marketing are all terms that describe the exact same kind of service design. This market has actually had greater than it’s share of sleazebag scoundrels and also hustler that have actually made use of as well as abused the …

The post The Three Main Powers Of Network Marketing first appeared on Online Web Store Site.

New comment by gary17the in "Ask HN: Who wants to be hired? (July 2020)"

Location: a U.S. citizen in Central Europe (European Union)

Remote: Yes (10+ years of experience working remotely)

Willing to relocate: No

Technologies: Swift (2+ years), Objective-C (5+ years), C/C++ (10+ years), SQL, JavaScript, UNIX shell, etc.

Résumé/CV: Available upon request.

Email: a4695813-80e7-404f-9a57-9392d87bb073 at outlook dot com

About me: A wide range of experience, from client-side mobile apps, through desktop software, to server-side message brokers.

The Importance of Timely and also Valuable Asset Management Solutions

The Importance of Timely as well as Valuable Asset Management Solutions

The demand for reliable and also efficient property administration has actually paved the way to a variety of property monitoring remedies. The properties of a business all play considerable duties in the accomplishment of company objectives, and also as a result should be used and also handled ideally. Property administration in the modern-day age has actually ended up being even more crucial, seeing that technical and also details adjustments have actually changed the method market supervisors as well as business leaders make essential choices.

The core of sector possession monitoring

Any type of company or market is held with each other by possessions, both abstract as well as substantial. The possessions of a service can vary from the easy, like a furniture, to the a lot more pricey and also complicated, as in a transportation system. The business employees or human sources can be counted as possessions.

Abstract properties can consist of licenses as well as copyrights, too the electronic systems as well as details distributing within business and also throughout systems. In property monitoring, the possessions of a sector have to be made to operate efficiently as well as to be kept in such a fashion that makes the most of as well as lowers prices worth.

The market can experience seriously when possessions end up being mishandled. From the devices to the workers, the properties and also sources of business should be maximized for much better efficiency as well as worth. In any type of company, recognizing the devaluation as well as the worth of set properties is very important, equally as recognizing just how the job circulation systems can be ideal used by the staff members or the company employees.

Put simply, properties ought to be considered as revenue resources, and also it is necessary for any kind of sector to be able to use the economic possibilities of properties. Supervisors ought to have the ability to recognize possessions from responsibilities so regarding enhance funding.

The main function of possession monitoring systems

These options, or otherwise labelled as possession monitoring solutions, all offer to aid companies in recognizing the properties that they have and also successfully determine the worth that they have the ability to offer the firm. Currently, these remedies are offered in software application type, as well as are readily available from a host of property monitoring providers.

These solutions are tailored in the direction of the efficient company of different property kinds, from manufacturing and also centers to transport and also personnels. Both the software and hardware sources have to be provided due relevance, seeing that infotech within the business likewise requires due emphasis. These administration devices likewise intend to assess the devaluation fads of set possessions so regarding aid sector supervisors in beneficial choice production.

Physical properties require to be approximated according to its devaluation worth, and also to reach a final thought whether to renew or fix the physical possession, whichever is a lot more affordable.

What to seek in the most effective property monitoring solutions

There are large range possession monitoring systems provided by suppliers currently. It is necessary as a result to locate the one design fit to the requirements of your firm or company. Property monitoring can be limited to details kinds like financial investment administration, IT property monitoring, electronic property monitoring, and also taken care of properties monitoring.

A great property monitoring system must have the ability to boost possessions return and also decrease prices of procedure as well as upkeep, in addition to determine threat. It needs to additionally advertise labor effectiveness as well as boost outcome performance. It needs to additionally supply details on exactly how to properly track software and hardware properties as well as to assess their features both in the long-lasting and also temporary feeling.

The world of company has actually ended up being much more affordable than ever before, and also with this understanding, companies require to equal international competitors as well as changes in innovation via important as well as prompt property administration options.

The requirement for effective as well as reliable possession monitoring has actually provided means to an array of possession administration remedies. Possession administration in the modern-day age has actually come to be all the a lot more important, seeing that technical and also details adjustments have actually changed the method sector supervisors as well as firm leaders make essential choices.

These monitoring devices additionally intend to assess the devaluation fads of set possessions so as to assist sector supervisors in beneficial choice production.

Possession monitoring can be tightened down to certain kinds like financial investment administration, IT possession administration, electronic property administration, as well as taken care of possessions administration.

An excellent possession monitoring system ought to be able to boost properties return as well as reduce prices of procedure as well as upkeep, as well as determine danger.

The post The Importance of Timely and also Valuable Asset Management Solutions appeared first on ROI Credit Builders.

Additional Minority Owned Business Funding Sources are Available if You Know Where to Look 

The United States is known as the melting pot for a reason.  It is full of people with roots stretching worldwide. Some countries are less represented than others however.  This means we have a lot of citizens in minority groups. In some areas of the country, the entire population is part of a minority group.   In 2016, there were 8 million minority owned businesses.  This was up 38% from 2007 data.  If you have a minority owned business, then you have some additional funding options. 

Additional Funding Options for Your Minority Owned Business

These options come in the form of loans and grants for minority owned business.  You need to know where to look. You also need to know eligibility requirements. This will help you prepare your application.  A great application will help to improve your chance of winning a grant or loan approval. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

Minority Owned Business Grants

minority owned business Credit Suite

Grants are basically free money. You never have to pay it back.  However, they are also highly competitive. In addition, they are rarely enough to completely fund a business.  Still, grant money can reduce the need to borrow money.  

Here are some minority grant options to consider.  There are certainly others out there though. They are not always well advertised.  This means you need to be sure to do your own research as well. 

First Nations Development Institute Grants

This group has a mission to offer grants to help Alaska Natives, Native Hawaiians, and Native Americans.  In addition to the funds, they offer assistance in the application process.

There is a wide range of opportunities from the First Nations Development Institute, with new ones rolling on as old ones roll off. Join the mailing list to be notified of new opportunities as they are posted.

National Black MBA Association Scale-Up Pitch Challenge

Also known as NBMBAA, their Scale-Up Pitch Challenge offers prizes in cash ranging from $1,000 to $50,000.  The purpose of the association is to help newer businesses that have an African founder that maintains equal ownership.  

A business must be an NBMBAA member to compete.  There is a $10 monthly membership fee. Then, there is an online application.   If chosen, a business must submit a three-minute pitch. Finalists will go on to compete at the NBMBAA annual conference.”

FedEx Small Business Grant

This grant is the FedEx way of working to strengthen small business innovation.  The company awards 10 grants. They range from $15,000 to $50,000 every year. If you’re a minority owned business owner with a cutting-edge product, this could be the grant for you.

You have to submit entry via the FedEx website. It requires that you answer a few questions about your business.  This includes providing an elevator pitch about what makes your business stand out.  In addition, you have to explain how you would use the grant funds. You can also submit an optional 90 second video.

NASE Growth Grants

The National Association for the Self-Employed (NASE) has small business Growth Grants that range up to $4,000. Grant recipients must be micro-businesses. Proceeds can be used to help your business market, advertise, expand, and hire employees. These grants are open to everyone.  However, you do have to be a NASE member to apply. Cost of membership depends on the member level you choose.

USDA Value Added Producer Grant

The USDA’s Value Added Producer Grant (VAPG) program offers grants for small businesses.  This includes minority owned business. Grants range up to $250,000. They are specifically to help agricultural producers with activities that add value to their products. Grants are open to those in rural areas.  They must be operating as cooperatives, farmers, ranchers, independent agricultural producers, or agricultural producer groups. 

Minority Owned Business Resources

These resources do not offer grants or any type of funding directly.  Still, they can be a great help and support in finding funding. They can also help with other issues that come with being a minority business owner. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

Minority Business Development Agency (MBDA)

This agency is under the direction of the United States Department of Commerce.  It helps minority business owners and minorities that want to become business owners. They have business centers all around the country.  They offer help finding grants that could be a good fit. In addition, they offer help with the application process. 

USA.gov

While not minority specific, this website offers a list of government resources.  This includes resources for any minority owned business. It also provides links to many federal government agencies that offer loans and grants for minority small business. 

Grants.Gov

This is another resource to help find grants for your minority owned business.  In addition to a list of grant opportunities, it has information that can help you create a winning grant application package. 

There are over 1,000 grants to dig through.  Most of them are for research and development purposes.  You should still take the time to look at them, as you may find one that will work well for your business. 

Loans for Minority Owned Business

Loans for minority business owners can come from several different sources.   Some only offer minority business loans to those in certain cities. Some are only available if you are looking to land government contracts.  Each have their own requirements. It takes a lot of research to line everything out and see what is available. We have a list of some of the best options to help you get started. 

Business Consortium Fund, Inc.

This program is through the US Department of the Treasury.  Typically, businesses can qualify for $75,000 to $500,000 after approval.  Amounts above $500,000 are possible. However, they are on a case by case basis only.  

Businesses can use funds for working capital, equipment financing, and contract financing. To apply, you have to certify your business through The National Minority Supplier Development Council. In addition, a business must have a supplier relationship with the Council to be eligible. 

National African American Small Business Loans

These loans are only available in Chicago, Los Angeles, and New York.  They go to communities with low to medium incomes. The NASBLF  provides capital to African American owned businesses that are not eligible for traditional financing options.  

The range for loans is $35,000 to $250,000. Borrowers can use funds to help with cash flow, expansion, and equipment purchases. Thirty million dollars total are available each year.  

Accion

Accion offers loans in all states for minority owned business.  They also serve veterans, women, and those with disabilities.  Low to medium income business owners may also be eligible. Loan amounts range from $200,000 to $300,000. They work to help build businesses from square one.  They can also put owners in contact with other banks, non-profits, and government resources to help build a network of support.

The minimum credit score for these loans is 575.  In addition, you cannot be 30 days late on credit cards, loan payments, or bills.  Late rent or mortgage payments over the past year will also disqualify you.

Community Development Financial Institutions Fund 

CDFI lends to communities that typically lack banking options.  This includes minorities. Since the Community Reinvestment Act of 1977, banks must offer funding in communities that find it hard to get traditional funding.  Big banks often fund minority business owners indirectly through their CDFI partners.  

To locate a CDFI, contact the local business development center.  Your local Small Business Development Center office should also be able to help.  

The application process can be long.  Thankfully, they do offer assistance to prepare for future bank loans as well.  

Union Bank Business Diversity Lending Program

This program from Union Bank assists minority business owners with loans and lines of credit. To qualify as a minority for the program, you must be Latinx, American Indian, Asian, Alaskan Native, African American, Native Hawaiian, or other Pacific Islander.   

Other requirements must be met as well.  For example, you must be in business for at least 2 years, and the minority business owner must own at least 51 percent. 

Indian Affairs

Native American business owners can get loans from the federal government.  These come through the Indian Affairs branch. You apply with any lending institution.  You just have to use the Indian Affairs application.  If the funds are for construction, renovation, or refinancing, there will be additional requirements.  Generally, a list of collateral, a credit report, and an analysis of business operations are necessary.

Camino Financial 

Camino is an online lender that offers minority business owners loans and business solutions.  All processes take place online, making it an easy option. Their microloans range from $5,000 to $50,000.  They also offer small business loans between $10,000 to $400,000. There is no collateral requirement. As a benefit, you can pay off the loan any time with no penalties or fees. 

Check out our professional research on bank ratings, the little-known reason why you will – or won’t – get a bank loan for your business. 

SBA Options for Minority Owned Business

In addition to these options, the Small Business Administration has some programs that may work well, though they are not for minorities only.

SBA Community Advantage Loans

Community advantage loans are for underserved communities that need less than $250,000.  Likewise, you can find lenders that work with the SBA on this program using the SBA Lender Match tool

SBA Microloans

They also have microloans available of up to $50,000.  Unlike others, these are offered through nonprofit organizations. With interest rates ranging from 8% to 13% and maximum repayment terms of six years, they can work well for minority business owners.

One of the SBA’s partners in this program is The Opportunity Fund.   According to them, 90% of its borrowers are minority business owners. 

SBA 7 (a) Loans

Like other SBA programs, these are not specifically for minorities.  Still, they are available to minorities the same as everyone else. They are 10-year loans of $30,000 to $350,000.  Rates range from 9.7% to 11.04%, and they can turn around in as little as 7 days. More often they take up to several weeks. 

Private Lender Options for Minority Owned Business

Again, these are not necessarily only for minorities.  However, many alternative lenders offer loans that work well.  Specifically, minority owned businesses sometimes struggle with meeting credit score requirements.  The following loans are available with a lower credit score than what most traditional lenders require. 

Fundbox

Surprisingly, there is no minimum credit score.  In fact, if you have at least $50,000 in annual revenue you can qualify for a line of credit from Fundbox.  Additionally, you also need to be in business for at least 3 months.  Amounts range from $1,000 to $100,000 with rates from 10.1% to 79.8%. Terms are for 12 weeks, and you can have your funds as quickly as the next business day.  

Kabbage

Another lender that will make loans on credit scores as low as 500 is Kabbage.  Terms are for 6, 12, or 18 months and amounts range from $2,000 to $250,000.  So interest rates are higher, at 24% to 99%. Funding can take several days, but sometimes happens in just a few minutes. 

QuarterSpot

QuarterSpot is another option.  Many prefer it, due to terms that go up to 18 months.  Loans range from $5,000 to $250,000, but rates are pretty high at 30% to 70%.  Nevertheless, approval can happen in as little as 24 hours. 

Credibility Capital

Loans with Credibility Capital range from $50,000 to $400,000.  Terms are for 1, 2, or 3 years, and rates range from 10% to 25%.  So like most, funding usually takes around 7 days.  

SmartBiz

SmartBiz offers low cost financing for expansion.  Unlike the others, these are SBA loans. However, with SmartBiz funding happens a lot faster than with traditional banks.  In fact, they can take a few weeks rather than a few months. 

A Minority Owned Business Has Additional Funding Options Available

It’s true.  In addition to the traditional options, there are other funding resources available to help minority business owners. While many of them, like grants, will not fully fund a business, they can all reduce the need for debt. The key is knowing where to find them and how to qualify.  The list above is a great starting point, but there is so much more. It’s worth the time it takes to dig in and see what is available. 

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A Guide To Chapter 7 Bankruptcy

A Guide To Chapter 7 Bankruptcy

Personal bankruptcy is a legitimately stated failure of services or people to release their financial debts. A proclaimed state of insolvency can be asked for not just by financial institutions in an initiative to obtain what they are owed yet additionally by the financially troubled person or company. Stating the personal bankruptcy might be the best service to financial debt issues if it is tough to pay off financial obligations.

Out of 6 fundamental kinds of under the Bankruptcy Code, Chapter 7 is a “liquidation” of nonexempt properties to pay financial debts. In a court-supervised treatment, a court assigns a trustee that sells off the non-exempt possessions of the borrower’s estate and also makes circulations to financial institutions. The Bankruptcy Code permits the borrower to maintain specific excluded home; however a trustee will certainly sell off the borrower’s continuing to be possessions.

According to the modifications to the Bankruptcy Code passed in to the Bankruptcy Abuse Prevention and also Consumer Protection Act of 2005, if a borrower’s earnings remains in extra of particular limits, the borrower might not be qualified for phase 7 alleviation. Submitting a request under phase 7, instantly remains a lot of collection activities versus the borrower or the borrower’s residential or commercial property, however prospective borrowers must understand that the declaring of a request under phase 7 could cause the loss of residential or commercial property.

After Chapter 7 personal bankruptcy, one will certainly not much longer owe cash on bank card, unprotected financings, overdue medical facility, clinical as well as energy expenses as well as overdue rental fee. Financial obligations like state and also government tax obligations (unless they are much more than 3 years old), youngster assistance called for by regulation; spousal support, government-backed pupil car loans, financial obligations due to fraudulence, charges, financial obligations as well as penalties due to unyielding injury to one more individual or residential property are not removed by Chapter 7 personal bankruptcy.

Simply a couple of months after the request is submitted, in a lot of phase 7 situations, the private borrower gets a discharge that launches borrower from individual responsibility for sure dischargeable financial debts. Hence, phase 7 Bankruptcy is made to provide the borrower a brand-new beginning as well as an opportunity to deal with audio economic administration.

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