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Creative Financing Solutions: 5 Tips for Starting a Business with Bad Credit

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Starting a business or blog on the internet will take some money. Where that money and investment comes from it always a big decision. For someone with a lower than average credit score, this might also be a concern at the same time.

The only way to get your credit back on track is to establish good credit. But, that can take a while and your business ventures can’t wait that long. Starting a business with bad credit is possible with the right funding, and it can help to rectify the current state of your credit.

This article offers 5 tips to get funding for your small business if you have bad credit.

5 Tips for Starting a Business with Bad Credit

Bad credit can make it tough to handle the stress of starting your own business. There are entities that will give you bad credit loans at a super-high interest rate, easily. But, before you sell your soul to the devil for your start-up, check out these 5 tips for starting a business with bad credit:

1. Find a Business Partner or Angel Investor

The easiest way, to circumvent the obstacles of starting a business with bad credit, is to find a business partner with good credit. You will have no trouble finding a lender as long as the loan is in the name of your partner.

Not every business is conducive to a financially based business partnership, but finding investors can solve your financing troubles in no time. Small startups and entrepreneurs, often, seek out an angel investor.

Angel investors are individuals that contribute a one-time contribution to your business. Sometimes an angel investor will give ongoing support based on quarterly assessments of your businesses growth.

Angel investors tend to focus on your business plan and strategy in their decision to invest rather than on your credit score.

2. Ask your Bank for a Home Equity Line of Credit

A home equity line of credit is risky and only an option for homeowners. The benefit of a home equity line of credit is that the loan is based on collateral that you already own, so your credit is not a big factor.

The drawback is that if you default on your loan, you lose your home. This is otherwise known as “going for broke” or “all or nothing.”

As reported in the latest State of Online Banking report, it’s actually must faster and easier to get approval on business bank loans when exploring your options online. With solutions like PayPal Working Capital and Kabbage now around, any business can get a loan. The actual amount will vary based on the annual income and history of the business.

3. Seek out Personal Loans from Acquaintances

Your biggest asset is that which you have, likely, not considered: family and friends. Your bad credit is not a big factor for the people who trust you and your business plan. Going to personal acquaintances in search of a business loan is the same as going to a financial institution.

Present yourself in the manner you would to a bank. Prepare your business plan for them to look over. And, put forth a preliminary repayment schedule to assure them that this is not a gift.

The best thing about a personal loan from friends and family is that the interest rate will, likely, be significantly better than a financial institution. Your insistence on a minimal interest return will help to assure them that you are not asking for a hand-out.

4. Consider a Microloan

Microloans come from a microlender. Microlenders typically give microloans to entrepreneurs and small businesses, which range from $500 to around $50,000.

Microlenders offer loans at a lower interest rate than that of typical bank loans. And, they are available to applicants of all credit backgrounds-good and bad. Most microloans go on a two to a three-year repayment plan, with an interest rate of below 10 percent.

5. Apply for Grant Money

The United States Small Business Association (SBA) offers federally funded grants for a wide range of businesses. The SBA provides an easy way to search for small business grants online.

Final Thoughts

If you found this article helpful in starting a business with bad credit, share it with your friends and family on social media. And, check out our expert roundup on finances for more help and advice on self-employment and entrepreneurship. Thanks for reading!

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As an active entrepreneur and blogger, my topics of discussion are mainly on business strategy, tech startups and motivating others to succeed. You can read up on my latest content at BlogReign.com.

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4 Tips to Continue Blogging When No One Reads Your Blog

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I had 3 visitors a day to my old blog nearly 10 years ago.

Today I’ve a few more visitors peeping my blog every day.

You may have zero blog visitors daily. Right now. Been there guys.

I know how frustrated and flat out angry you may feel now but taking smart steps boosts your traffic slowly but steadily.

Focus on the solution, not your lack of blog traffic.

All established, pro bloggers continued to blog when nobody read their blog. We all have audiences of zero from Day 1 because new blogs are new blogs.

Traffic flows in – along with engaged readers – organically and steadily if you patiently follow a few steps.

Follow these tips to keep blogging when no one reads your blog.

1: Build Friendships

Blogging buddies are my #1 traffic builder.

Example; I genuinely commented on Enstine Muki’s blog for a while. I also promoted his posts via my blog and social media accounts.

We became friends. Enstine promoted me, endorsed me and graciously invited me to guest post on his blog.

Nearly 60 guest posts later I have seen a steady flow of traffic through his site.

I drive traffic through 600 plus guest posts on Blogging Tips too.

Guys; make blogging buddies. Help people. People will be reading your blog soon.

2: Write Your Next Blog Post

You may be caught up in a scarcity mindset guys.

After writing and publishing a blog post you try to squeeze as much promotional juice through the post, marketing the sucker for weeks on end, checking traffic stats. Fear goads you because if you don’t promote the post for weeks you won’t get enough traffic, you believe. You don’t write and publish a post again until next month. Not good.

Meanwhile, since I don’t do the scarcity mindset thing, I published 120 blog posts, promoting each post modestly, during the same time frame. Who do you think people will notice first if we are in the same niche? Me of course; quality plus quantity beats quality plus scarcity every time.

Write and publish your next blog post today. Readers will flock to your blog. Be abundant; hit the publish button frequently. You have helpful content to share with the world. Ship. Publish. Drive warm bodies to your blog.

3: Write Your Next Guest Post

I noted guest posting gigs on Enstine’s blog and here on Blogging Tips earlier in this post.

Go wild guest posting guys.

Build blogging friendships. Improve your writing skills by publishing posts frequently. Eventually blogging friends will invite you to guest post on their blogs.

Gobble up these opportunities. Leverage your presence by helping large, targeted audiences of readers.

Be generous with your knowledge. Observe how many new, interested people begin following your blog.

4: Keep Meeting New Bloggers Daily

This is the secret tip.

Few bloggers meet new bloggers daily, being lulled to sleep in their networking comfort zone, hanging with old blogging buddies.

Even if you attract a few people to your blog every day you find few people reading your blog, commenting on your posts and promoting you on social media unless you wander into new blogging friend networks daily.

I open Tweet Deck, create a #blogging column and scan 1 by 1 through blog posts. I click, read and comment genuinely on posts, taking advantage of the endless stream of new bloggers gracing my feed every day.

Guys; keep meeting new bloggers. Be patient, believe in yourself and your blog grows exponentially over the long haul by following such an approach.

Wrap Up

Keep going guys.

Follow these tips.

People will begin reading your blog if you get through challenging times.

Blog readers are on the way.

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Blogging About the Americans With Disabilities Amendments Act

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No matter your type of business, chances are the Americans with Disabilities Amendments Act applies to your building, employees, and visitors. While this is something that many corporations and businesses know about, it’s mostly something is focused on in the human resources area. Today, as a blogging platform, we wanted to shed some light on an issue that affects millions of people in the workplace, and those who have the opportunity to work or blog from the comfort of their own home.

But do you know if you’re in compliance? It’s worth taking a look at some facts and reviewing your company’s policies. Penalties for non-compliance include fines and lawsuits.

The ADA protects people with physical and mental disabilities in the workplace and through public accommodations.

Find out if your business has the information it needs to comply with Americans with Disabilities Amendments Act.

What is the ADA?

The original Americans with Disabilities Act (ADA) became law in 1990. It’s a civil rights law that doesn’t allow discrimination against anyone with physical or mental disabilities.

The law covers all areas of public life, including school, jobs, and transportation.

In 2008, the law was updated with the Americans with Disabilities Amendments Act. The most significant changes included updates to the definition of “disability.”

What is a Disability?

There are three main areas to consider when making accommodations for a person with a disability.

Someone falls under the definition of “disability” if:

  • He or she has a mental or physical impairment that significantly limits one or more major life activities
  • He or she has documentation of an impairment, or
  • He or she has a known impairment

A person can have any or all of these qualifications as a person with disabilities. But there is no requirement that a person shows proof of having a disability for protection through the disability act.

Who Must Comply?

The short answer is that any public place or employer with fifteen or more employees must comply with the ADA.

The American Disabilities Act is in place to make sure anyone with a disability has the same opportunities and rights as anyone else.

But what does it look like to make sure the opportunities are available? The details and case-by-case scenarios can get tricky.

Let’s look at a few major points for compliance within the five Titles of the ADA laws.

Title I Employment

Employers must provide a reasonable accommodation that helps any employees with a disability perform their job duties. This Title also applies to schools and colleges.

Accommodation includes:

  • Handicap access for your building and facilities
  • Providing a reader for a blind employer or student
  • Adjusting a workspace to help an employee.

Note the word “reasonable” comes with making these accommodations. An employer is not required to provide anything that causes an undue hardship on the business or on other employees.

“Undue hardship” includes significant expense depending on the size and financial resources of your business. But an employer must provide an accommodation even if there is some expense that doesn’t qualify as “undue hardship”.

To get an accommodation, an employee must ask for help. They’ll need to tell the employer the nature of the disability and what they need.

Title II State and Local Government

The government must also accommodate people with disabilities.

At events or facilities, government agencies must provide methods of communication for people with hearing, vision, or speech disabilities.

Agencies also cannot discriminate anyone from programs or activities due to a disability.

Title III Public Accommodations

Some businesses fall under Title III as well as Title I.

If you run a hotel, transportation company, museum, bank, library, or other similar institution open to the public, you must comply with the ADA.

Restaurants and shops fall into this category, too. Reasonable accommodations for Title III places include ADA-compliant signage.

Knowing exactly what you need and where to place it can be difficult. But help is available to determine the types of signs and factors for compliance for your business.

Image360 provides a simple guide to understanding the requirements for your business signage. Everything from braille specifics to signage height and location is important.

Title IV Telecommunications

For compliance under Title IV, internet and communication companies must provide a way for people with hearing or vision impairment to communicate using their resources.

For your business, make sure any employees with vision or hearing disabilities have equipment for using computers and phones.

Title V Miscellaneous Provisions

This last category is the catch-all for any business or entity that doesn’t fit neatly into any other category.

This Title also allows for the recovery of attorney’s fees in the event of a lawsuit. And Title V also notes that drug or alcohol abuse is not a disability.

Discrimination or Harassment

ADA-compliance is only one part of the American Disabilities Act when it comes to Title I and businesses. People with disabilities are also protected from discrimination and harassment under the ADA.

Discrimination includes:

  • Firing an employee or refusing a promotion solely based on a person’s disability
  • Assuming someone can’t perform job duties because of a disability
  • Refusing to hire someone with a disability who is otherwise qualified for the position

Harassment includes making disparaging remarks about or to a person with a disability.

Be sure your employee handbook includes a detailed anti-harassment policy. This protects your business and your employees, and it helps comply with the ADA.

Complaints

If an employee feels they are a victim of discrimination or harassment, their best course of action is filing a complaint with the EEOC (Equal Employment Opportunity Commission).

Since 2006, the ADA documents enforcement of violations for Titles I-V. The EEOC joins with other government agencies to investigate and enforce reports of discrimination in the workplace.

Protect Citizens Through The Americans with Disabilities Amendments Act

The Americans with Disabilities Amendments Act is in place to protect our citizens with disabilities.

Providing signage, accessibility, and other resources help make a business, school, or public area usable for everyone.

Don’t risk fines or punishment. Work to accommodate needs and create a positive office environment that your employees love.

Building a positive culture supports people with any ability or disability. Happy employees are the best employees.

Be a business that accommodates the best talent for each role, no matter their physical or mental abilities.

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4 Spots Where You Can Find Ideas for Your eBook

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So you’re ready to write an eBook but have no clue where to find ideas for your read.

Been there guys.

126 eBooks later I found a neat little system for identifying eBook ideas quickly and easily.

You and I live in abundance. No shortage exists anywhere, except in the mind.

Mine these 4 spots for an endless flow of prospering eBook ideas.

1: Quora

Quora is about the most popular question and answer site on the planet.

Thousands of people from around the globe bring their question-problems to the platform daily. Each question is an idea-seed for an eBook. Answer the question on Quora or just jump right into writing a 6,000 word eBook on the topic.

Follow categories related to your niche. What questions pop up regularly? What questions seem to be the most popular? Are people really struggling with 1 particular area of their lives?

Create a list of eBook ideas based on common, frequently asked Quora questions.

Save your time and energy; only follow topics 100% aligned with your blogging niche. Specialize. Find eBook ideas resonant with your readers.

2: Email Feedback

Email feedback provides you with a goldmine of eBook ideas.

More than 1 of my 126 eBooks was inspired by email feedback from readers.

Some people email you pressing pain points. Other folks share successes via email. Be open to all manner of feedback, whether positive or negative. Answer with a short email reply but expand the solution-response into a full eBook.

Set up a folder marked “eBook ideas.” Add feedback emails to this folder to build an impressive list of ideas for your eBooks.

3: Blog Comments

After self-publishing my first eBook I noted how readers wanted me to write my next eBook. Some folks even published comments on my blog, eagerly awaiting for the release of my next read.

Other commentors simply brought me their most pressing blogging problems through comments published on Blogging From Paradise. I spotted patterns. Patterns alerted me to potential eBook ideas.

Scour your blog comments. What are folks chatting about? What topics seem to strike a deep, emotional chord in your community? Pay close attention to lengthy, in-depth blog comments and note blog posts registering a high number of blog comments. Spot patterns. Find ideas for your next eBook.

4: Popular Blog Posts

I published a post detailing how to increase blog traffic through Triberr a few years ago.

For a few years this post ranked #2 on page 1 of Google for a “Triberr” search, just below the company site itself.

This gaudy SERP clued me in to an eBook idea but the surge of blog comments and social media shares created an eye-popping trio of popularity that goaded me to write an eBook on the topic.

Popular blog posts form the foundation for popular eBooks in most cases. People speak. So listen.

Practical Tips for Writing and Self-Publishing eBooks

I self-publish on Selz and Amazon.

Aim for a 6,000- 10,000 word eBook. Folks do not have time, energy or patience to read the next War and Peace on their mobile devices guys. Short, helpful and sweet works nicely.

Create an outline for your eBook. Drill down with practical tips or core talking points to address reader needs.

Take your time writing but do not delay. You know what I mean. 6,000 words requires no more than 1-2 weeks’ worth of writing.

Promote your current eBook by writing your next eBook. Once you hit 10 to 20 reads, feel free to stop. I stopped writing eBooks at 126 eBooks.

Wrap Up

Grab eBook ideas from these spots and run with ’em guys.

Open a passive blogging income stream while serving your readers.

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