The e-commerce space has spun into a very large and vast money-spinning machine over the last decade.
Online retailing is slowly establishing itself as a norm in many corners of the world, more so in the western hemisphere. Companies such as Amazon, House of Fraser, Argos record billions of dollars in revenue yearly.
Beyond the revenue however, these top online retailers have created a platform that serves as a primary source of income to many retailers/merchants across the globe.
However, to sell your products on these large ecommerce platform, you need inventory; to stock up on inventory, you need capital. Merchant Money satisfies a great need by providing much needed funding to e-commerce sellers on Amazon and eBay specifically to purchase inventory or handle business operations.
These loans are more accessible and less stringent than you will find with many other online UK lending platforms. Here is why Merchant Money’s e-commerce funding option is the right choice for your business
24-hour approval time
The application process is simple; just fill a simple form within minutes and wait for your approval. Now, the approval time for loans is typically long for banks, but online lenders can take as little as a week or a few days.
Merchant Money will get your loan approved in as little as 24 hours. You do not need to sit around, wringing your fingers for days on end.
This is good news especially for those who need money to restock rapidly depleting inventory; you do not want to have to stall your business for even a day as that can result in a loss of a significant number of customers. This loan will make sure that never happens.
Flexible loan terms, sizable loan figures and no hidden charges
The growth rate of your ecommerce business, monthly turnover, the funding amount you seek can greatly influence your decision on how long the long the loan term should be.
Unfortunately, banks, traditional lenders and some online lenders have a rigid bracket of loan term options to choose from, usually with a maximum of a few months. This is because they hope to maximize returns on their interest rate.
Merchant Money allows you the option to be done repaying your loan in as little as one month after you received it. Simply put, there are no restrictions on when you can start paying back the loan.
The e-commerce loan option allows you to pay back fully in as little as one month to as long as 36 months (3 years).
Merchant Money will advance you a loan of up to £150,000 to boost your e-commerce business. This amount of money will definitely have a great impact for most Amazon and eBay businesses.
In addition, you pay interest only on what you owe. No complicated cumulative interest formula or hidden costs. Say you borrowed £1000, you pay interest only on that amount, it does not matter if your business records ten times that figure in monthly turn over.