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Thanks to an explosion of e-commerce sites, it’s never been easier to quit your day job to make a living selling custom T-shirts. Or whatever strikes your fancy. Chances are you’ll need to borrow money from time to time to prepare your inventory for the holiday season — or cover overhead costs when things are slow.
We walk you through the basics of e-commerce financing so you know what to look for when comparing lenders.
An e-commerce loan is a type of financing for small online retailers. It’s very similar to a business loan in that it’s money you borrow and repay with interest and fees. However, there are some financing options that only work for businesses that make money by selling goods online, such as PayPal Working Capital.
Is my company considered an e-commerce business?
If you sell goods online, you have an e-commerce business. For more information, read our e-commerce 101 guide.
The first step to finding a loan is learning about options available for a unique business like yours.
If you have an eBay store, you’re in luck. From PayPal Working Capital to BitBond’s eBay loans, you’ll find plenty of financing options designed specifically for you. Check out our guide on eBay loans to see if there’s something for your business.
The documents you’ll need vary depending on the lender and loan you’re applying for, but you’ll likely need to provide:
In some cases, you might need to provide your personal credit score.
Yes. Loans are a common way to finance e-commerce businesses, but they aren’t your only option. Here are some alternatives:
Finding the right loan could make or break your online business. You could find that you’re eligible for options you might not have considered. If you’d like to explore even more types of financing options, you can compare a full range of business loans in our detailed guide. Be sure to read the fine print before settling on any lender.
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