SellersFunding Business Loans For Amazon Sellers
- 1 SellersFunding Business Loans For Amazon Sellers
As you are starting to see, loans for Amazon sellers can help your business stay afloat.
SellersFunding Business Loans should be on your radar if you need to borrow up to $500,000 for your Amazon business.
If you need a short-term loan, SellersFunding Business Loans can help you grow your business. They work exclusively with e-commerce business owners.
Please keep in mind that you only have one year to pay back the loan. If things are slow in the market, you should think carefully before applying for the loan. This will help you avoid putting your business in a bad spot.
SellerFunding loan requirements:
- You must show six months of Amazon activity
- Your business must have secured at least $30,000 in sales within the last six months
- Minimum returns
- Your company must have positive reviews
- You must show consistent sales activity
What is SellersFunding?
SellersFunding offers unsecured short-term loans to online businesses that meet their lending requirements. In order to qualify, you must back the loan with a personal guarantee.
You will be responsible for paying off the loan if your business fails or if it cannot pay off the loan. In the end, you will be liable for the loan.
SellersFunding uses a unique mathematical algorithm that makes it possible for them to approve or decline your application within minutes.
If you are approved, you will get the loan proceeds within two to three business days. In our book, this is a fast turn-around. Getting loans for Amazon sellers can’t get any easier than this.
What’s Different about SellersFunding Loans?
Their loans are ideal for Amazon sellers. If you need a quick injection of capital, you should apply. The loan can help you buy more inventory, hire new staff, etc.
SellersFunding will take a close look at your sales activity within the last six months. If your sales activity is up to par, this will work in your favor.
SellersFunding Revenue Advance
Besides offers short-term loans, SellersFunding also offers a revenue advance to qualifying e-commerce merchants.
The revenue advance is similar to a merchant cash advance. SellersFunding’s algorithm will calculate your company’s projected revenue for the next three months (90 days). They will offer you 15% of this amount.
Your business pays it back with a daily percentage of online sales.
SellersFunding charges a 5% advance fee. This will come out of your loan proceeds.
You will be responsible for paying back the full 15%.
You should receive your loan proceeds within two business days.
What are the Advantages of Getting a Loan from SellersFunding?
Fewer fees – Applicants are only required to pay the $100 loan processing fee. This is great news considering the fact that many lenders expect applicants to cover the 1% to 5% loan origination fee. It’s also important to mention that there are no prepayment fees.
Great for e-commerce business owners – If traditional loans are not suitable for your business, SellersFunding may be your ideal financing option
Prequalification is available – You can get preapproved within two minutes.
Things You Should Look Out For
Short term – If you are approved, you will be required to repay the loan within three to twelve months. This can be risky for your business. If your business is unable to repay the loan within the agreed time period, you will be personally responsible for covering the loan.
Monthly rate – SellersFunding is well-known for advertising a low monthly rate. This can be confusing for some. If you take a close look at the terms, you will see that APRs start at 14.99%, not 1.25%.
Amazon-centric – The loan application is designed for Amazon sellers. If you are not an Amazon seller, the loan application can confuse you.
Will Applying for a Loan from SellersFunding Have an Impact on My Credit Score?
This is an excellent question. Applying for loans for Amazon sellers will normally have an impact on your credit score. Fortunately for you, this is not the case with SellersFunding.
SellersFunding will do a soft credit check when you apply for the loan. However, there are some instances where SellersFunding will do a hard credit pull. This can have an impact on your beacon score. SellersFunding must get your permission to do a hard credit pull.
Is SellerFunding’s Website Secure?
Yes, their website is secure. SellersFunding uses SSL encryption to protect your sensitive information.
Can I Get a Loan if I’m a Reseller?
If you can submit similar documentation, you can get a loan if you meet the requirements. Having an Amazon account will work in your favor.