Google has rolled out a new credit card targeted to small businesses, to be used only for advertising on Google’s Adwords. Working with World Financial Capital Bank, the card will have a fixed interest of 8.99%.
This may sound like a great idea, but smallbiz owners should think this through before applying. Financing online advertising might be a bad idea. Online ad campaigns, like Google Adwords should be profitable and pay for themselves. If they are not profitable, you should not do them unless you have a large amount of capital committed to building your brand. But, in that case, you would not need to borrow on a credit card.
If your smallbiz has not advertised on Google or Facebook yet, look for one of the free signup deals floating around. Check with your web host. Most offer between $50 to $300 in free advertising to test their program. Sign up, use the free money to test your campaign, if it looks profitable, fund it.
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