Have you ever wondered where you can get the eCommerce funding that you need to start your business the right way? You know that you need the right amount of money with payment terms that fit your projected success levels. But you don’t know where to go to get the best deal that won’t leave you buried in debt.
In this post, we’ll show you 7 websites that we recommend you check out to get eCommerce funding for your business.
8fig is a platform dedicated to help eCommerce businesses grow in the long-term by providing them with a continuous, cost-effective, adaptable, cash flow. Their steady, near-bottomless capital eCommerce funding solution that is equity-free and guarantee-free has the goal of maintaining your profitability and scaling your business. They understand the dynamic nature of the eCommerce space and the need for flexible growth solutions. Businesses can often find themselves having to clip their own wings due to cash flow constraints. Imagine being able to live up to your business’ full potential and keeping that momentum going. Well, with 8fig, your dreams are a scalable reality with their Growth Plans.
How the Growth Plan works:
Their Growth Plan is a customized plan that tailors to every business individually. With 8fig you can use their dashboard to show them your ambitious plans for scaling your business and tell them the funding you need for every level of your supply chain. They will verify the feasibility of the plan, and using their special AI technology and a team of experts in eCommerce and financial technology, assess the risks before finalizing the plan. They specialize in sales forecasting and cash flow optimization, ensuring that you scale successfully with a repayment schedule that doesn’t halt your momentum.
You can apply for their growth capital if:
- You are an eCommerce business selling on online marketplaces like Amazon, Walmart, eBay, WixStores, Shopify, WooCommerce, etc.
- You have at least $8000 in monthly sales and a track record of a minimum of 6 months within the last year where your revenue exceeded $100,000, or a regular monthly revenue that was more than $8,000 in the last 3 months.
As their name suggests, Funding Nexus is a platform dedicated to connecting businesses with the eCommerce funding options best suited for them. They market themselves as “Your Personal Concierge.” If you have funding guidance needs, Nexus is there to serve.
How their process works:
They first familiarize themselves with the ins and outs of your business to get the most accurate idea of how much capital funding you require at the present time and forecast for the potential scaling of your business. When you know your needs, you can start creating a plan best suited to meet those needs.
That’s what Funding Nexus does. After performing an analysis of your business comes extensive research and laying out possible funding solutions. They make sure that you are well-informed of each of the available options, giving you the power to decide which fits.
Funding Nexus is with you every step of the way. Compiling and completing any papers, reports, applications, and other tedious processes is much simpler because you have their experts on your side. They handle all the details and all the paperwork on your behalf.
You can think of them as an extension of your own team. Because they are not partial to any particular funding organization, you can rest assured knowing they will do their due diligence to connect you to the best funding choices for your business.
Uncapped was created by its founders to introduce a better eCommerce funding options for European entrepreneurs. Banks had slow processes and heavy guarantees, so the people behind Uncapped created it so that startups could become successful and grow a business without giving their business away. With Uncapped, you benefit from their no-equity, no-security, no interest approach, flexible terms, insights tools, and partner referrals.
Application is a quick process. It takes seconds to check your funding eligibility and minutes to give your business information and connect your accounts.
Uncapped offers three main solutions:
First, you have fixed-term loans. Get funding at a flat fee, interest-free. Spend your money how you want and set your repayment schedule on your terms (daily, weekly, or monthly).
Second, you may opt for the SaaS Runway where you can avail of flexible capital as you have need of it. This is on top of the primary loan amount so that you can get more funding as your business grows. With higher revenues also comes higher loanable amounts and credit lines. This way, you can effectively achieve positive cashflow, increase your ARR, and improve products to improve revenues. You can also delay the funding round if need be as well as the raise on your terms.
Third, there’s a revenue-based loan where you can repay a percentage of sales until the initial investment plus the flat fee is repaid. If your sales are down, the repayment schedule adjusts with no consequences.
Minimum requirements for applying:
- SaaS, Subscription, Ecommerce, Mobile App or D2C on;one business model
- Has operated for 6+ months in business
- Monthly revenue is $100k and above
- For SaaS Runway loan: Strong retention and low user churn
Yardline’s goal is to help small to large eCommerce businesses and entrepreneurs meet their goals and succeed in the space. Yardline offers growth capital funding services that also lead to stronger platform-customer relationships. With the combination of expert advice, technology-forward solutions (unique APIs), and other business tools, they want to make sure your business continues to grow, as they say, “up and to the right.”
Stay competitive on platforms like Amazon, eBay, Shopify, Walmart and other online marketplaces through their Capital-as-a-Service (CaaS) solutions. These are funding options customized for your business to enable more sales and business expandability.
Their expertise in the area means the process of securing capital is quick, simple, and hassle-free. You waste no time beginning your journey to reaching those big business goals and increasing your profitability.
Their 3 step setup process:
1. Complete a quick application
2. Wait for approval (1 business day minimum)
3. Get selling. They automate repayments for you
Yardline’s Seller Success Program includes setting you up with your own personal Seller Success Manager. From marketing to sales, these professionals and other team members can guide and help you make strong decisions in various areas from advertising budgets to vendor negotiations and other important business operation insights.
Get access to their Yardline 50 Business Assessment (Y50BA) to see how well you are doing compared to other sellers based on vital e-Commerce criteria. They also provide reports that show where to focus your efforts so you can become more competitive in the space.
Wayflyer was founded with the goal of helping eCommerce businesses achieve their growth, ambitions, and potential through growth financing. Their process marries custom funding solutions with valuable insights.
The Wayflyer process:
First, you want to make sure all your platforms are connected so you can gain access to eCommerce funding offers and insights. This includes your bank accounts, the platform you sell on, such as Shopify or Amazon, and your ad and analytics platform, like Google or Facebook Ads, to enjoy the full benefits of Wayflyer Insghts.
After connecting, you have full access to funding options and expert insights. Invest in the funding option that fits your business needs. Get ahead of your competitors via an analytics dashboard to view key metrics and a personal marketing team of experts in your corner helping you along the way.
Wayflyer takes no ownership of your company and only charges one fee. The way their model works is they purchase a set amount of future sales and adjust the amount per payment if sales are down. Their process makes funding quick, flexible ($10k -$20m with the ability to add as needed), custom fit to the needs of your business, and safer than some other funding options.
You can apply for their Wayflyer funding if you:
- Are an eCommerce business (a.k.a. You sell your products online)
- Have monthly sales of no less than $20,000
- Have been in business for at least 6 months
- Your business is operating in Australia, New Zealand, Ireland, The Netherlands, Belgium, Denmark, Germany, Sweden, United States, Canada, the United Kingdom, or Spain
Kickfurther is part of the more famous Kickstarter. They offer online inventory financing solutions by connecting brands looking for cost-effective eCommerce funding with a community of buyers on their private marketplace looking to partner with businesses. This partnership allows businesses to scale effectively without worrying about maintaining their inventory and for buyers to earn a profit from the success of these brands. Whether you are a DTC or major brand, if flexible inventory funding is what you’re looking for, Kickfurther has got you covered.
Requirements to qualify for Kickfurther solutions:
- Must comply with State and Federal regulations
- Have an established sales record
- Sell a physical product
- Receive approval by the quality team at Kickfurther
- Has achieved $150,000 or more of revenue in the trailing 12 months (not necessarily consecutive).
What the Inventory Funding process looks like:
- Create your business account and list all necessary business information
- Launch your deal
- Receive funding within minutes
- Connect your inventory manufacturer to the Kickfurther team so they can pay your supplier directly
- Work with a custom flexible payment schedule based on an outline of your expected sales periods that informs your customized payment terms
- Submit sales reports – buyers are paid on consignment, so they get paid whenever you make a sale
- Finish your payment schedule
- Start the process over again with possibly better rates and even discounts
They also offer a monthly subscription service called Kickfurther PRO. Here, you get virtually unlimited funding and pay consignment profit costs on a monthly basis.
Boopos believes in opening the door for more people to become successful business owners. Through their intelligent, fully automated loan underwriting system; fair, fast and flexible financing; and one-on-one support, they make the dream of entrepreneurship obtainable — regardless of credit history or past experience.
Using technology to simplify the process and a solid data-driven analysis framework that allows us to make lending decisions in a just hours, they’re committed to becoming the investment bank of the SMB and the partner of choice for M&A specialists and buyers alike. With a strong focus on solving the pain of acquisition financing, they’re empowering entrepreneurs to realize their dream of owning an online business.
Final Thoughts on Ecommerce Funding for your Business
With these 7 all-stars, you are in great hands. This post is too short to go into all of the funding considerations you need to look into. We recommend that you dive deeper into the one that looks like the best fit for your business. Doing research on your own, you can dig up specifics that apply to your situation and therefore get the best analysis.