Amazon Seller Loan

Eligibility Criteria:

Online seller financing is extended by Banks, NBFCs, and new-age Digital Fintech companies who have charted an independent course of finance options to the prospective borrowers. There may be variations in the eligibility criteria between the two approaches. However, the criteria can be summarized as follows:

• The business must be operational for at least one year.
• Partnership with the E-commerce site must be at least six months old.
• Minimum sales turnover needs to be Rs.75,000.

Documents Required:

When it comes to documentation for online sellers, it is necessary to segregate them based on the lending source:

• Online Seller Bank Loans: In the case of traditional loans from Banks, Amazon seller financing will need the following:
  
  • Valid personal and Business KYC documents.
  • Application.
  • Valid Tax returns.
  • Bank statement.
  • Balance sheet and P&L account statement.
  • Personal financial profile.
• Alternative Amazon Seller Loans: Apart from the conventional business loan lenders, NBFCs like Lendingkart have arrived on the horizon catering to the various small business borrowers in harmony with the emerging trends in a digital marketplace. We offer innovative collateral free credit solutions with flexible terms that make their loans attractive. The documents sought are:
  
  • Valid personal and Business KYC documents.
  • Application
  • Valid Tax Returns.
  • Bank statement.
  • Debt schedule.
  • P&L statement.
• Cash Advances for Amazon Seller: The payment process in the E-commerce marketplace involves card payments, virtually locking up the capital of the seller temporarily. New-age loans to the online seller ensure that the business is not starved of cash flow to meet various needs through Merchant Cash Advance. Based on the volume of card sales. It differs from the traditional loan to the extent that it depends on the seller’s future receivables at a discount to the lender while providing advance. The advantage is that the lender partners with the POS service provider to access accurate data of credit card sales. The documents required for this type of loan are:
  
  • Valid personal and Business KYC documents.
  • Application
  • Bank statements
  • Credit Card Statements

How to apply for Amazon Seller Business Loan:

The application procedure is simple and seamless in the case of Fintech lenders as compared to the Banks and NBFC. At Lendingkart, the process is fully online – from application to sanction and disbursal. The following simple steps complete the loan application process.

• Submit online application filling all the details sought.
• Upload digital copies of the requested documents.
• The application and the documents are evaluated, and the best offer is made.
• On acceptance of the offer, the loan is approved and the account is credited as disbursal.