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January 17, 2023
eFunder.ai Insights Episode 1: 2023 Outlook for SMEs
A web series introduced to help SMEs navigate the changing world environment and help them grow their business. In Conversation with Mr. Charbel Merhej – Data Scientist at eFunder.ai - Risk Management and Analysis by our host, Mr. Ronald Michael, Business Development Manager. Understanding the eCommerce Industry in UAE and the growth in 2023! eCommerce industry in UAE have gown pretty fast. It’s been observed that the markets have been more resilient in 2023, especially for the e-commerce industry in UAE. The current GDP of UAE stands at 5% and there is an expected growth of 4.2% in fiscal 2023. The Government is also playing a major role by supporting and offering investments to entrepreneurs and business owners. The UAE government has been working to offer various platforms and introducing initiatives to help MSMEs further scale up their business to newer heights. What Risk Analysis mean for SME! By Definition, SME Risk means the chance for SME to get hit financially due to any unexpected events. Risk analysis provides SMEs with a comprehensive information on how well they can handle unprecedented situation, how well the SME is financially positioned, how sustainable is the business, understanding the financial future, how well the SME can repay their debt and what are the cash flows among others. Why it is important for the Business owners to be aware about risk analysis! It is an imperative stance, where business owners/entrepreneurs should be aware about the financial definition of their business. What is the capacity of debt the business can handle and how well the unfortunate situation can be managed. Risk Analysis can also help SMEs to stir clear of the regulatory and compliance issues. This may also help them in getting easy and quick financing. Risk Analysis plays a big role for SMEs as the idea is very simple – “The better you manage your risk, the easier it is to get financing”. Key things which SMEs needs to be prepared from risk perspective in 2023? Certain situations, which are not in our control, can be the cause of recession, however how it will hit is still unknown. Hence in such scenarios Diversification is key! Be it about sourcing raw material or investing or financing. UAE government is also willing to increase the Global trade, in next 5 to 10 years. If it fructifies, it will be a win-win situation. It’s always better to have more options and diversify the revenue. Inflation concerns! Since the inflation is so high, the banks and other financial institutions are also being picky in choosing the businesses for funding which could stand as a major challenge for eCommerce business. This could lead to higher employee cost, logistics cost etc. which will have a roll over effect on the cash flows. It is essential for SMEs to consider all these concerns into consideration. How SMEs can face the challenging times! SMEs should try to limit the damage, evaluate the financial health, optimize cash flows, avoid overstocking, optimize sales strategy, diversify funding and financing and take eFunder’s help! Adjusting according to the industry trend will also be useful. Comparative analysis and data analysis will also play a big role in analyzing the market trends . Enhanced customer service is another important aspect, that should be considered by SMEs. How eFunder.ai helps eCommerce business and what risk assessment is done, and why SMEs should use eFunder.ai services. eFunder.ai helps SMEs with detailed risk analysis on various parameters. This end-to-end and comprehensive assessment is performed on each merchant. Sales parameters are considered, operational parameters, eFunder.ai parameters (like profiling, history, and how well the SME is performing and impact, and trends and growth performance) are analyzed to understand the financial position of the SME. eFunder’s main goal is to provide the merchant with the faster access to the capital.Time is big advantage and Rates are friendlier as compared to other financial institutions. eFunder’s secure digital financing platform takes full control of the receivables and helps boosts the business growth. eFunder.ai provides capital exactly when you need it. Here’s why eFunder.ai is the best when you are considering your financing needs. eFunder.ai – Your Financial partner for growth!
January 17, 2023
Kicking off the new year with a bang
Like any new year, we all begin with the best of intentions, but the success or failure of our resolutions frequently depends on how far we take them. There is no better time than the present to set goals for the upcoming year if we want to succeed both personally and professionally. We envision what we can accomplish when we take certain actions while setting goals. Visualizing what might happen if we don’t set goal, is another good motivation. Want to bring in the new year in style? The need is to create a solid financial plan for 2023 Let's create a brief strategy for a prosperous 2023 as the year comes to a closure. In accordance with James Clear's well-known adage, "Systems are better for making progress; goals are ideal for determining a direction," let's build some robust systems that will assist you in saving, investing, and bringing you closer to financial freedom. Examine your resources and liabilities. Analyze your funds, bank records, and other financial assets to determine where you stand financially right now. Recognize how much you'll require in the upcoming year to be risk-, debt-, or financially-free. Set sensible objectives. A framework of constructive actions that can result in improved finances in the upcoming year can be created by setting a realistic goal for 2023. For instance, create a long-term investing strategy, obtain insurance etc. Set up a budget. Even though creating a budget can seem overly simple at times but people often struggle to stick to it. Here is a quick and easy technique to deal with your budget: Observe the 50/30/20 principle. You must spend 50% of your income on necessities, 30% on optional wants, and 20% on savings. The easiest approach to guarantee that you save 20% of your salary is to set it aside before paying your bills. Consider Inflation into account Planning for your investments is crucial if you earn money from several different sources. Consider inflation as most of the ROIs on paper are not inflation adjusted. To assist you in anticipating your taxes, speak with a financial advisor. Establish an emergency fund. Saving for emergencies need not involve making catastrophic plans. For example, a modest amount set aside each month could be used for home maintenance, or the same sum could be saved for an unplanned vacation in case of family events. These accounts frequently give you a break without requiring you to draw from your resources. Create an automatic savings plan You can save and invest by taking a monthly deduction from your income. These automatic withdrawals could be for savings accounts, insurance, emergency cash, etc. Review your insurance policy. You must include insurance for you and your family in your 2023 financial planning. If you don't already have insurance, get it in the upcoming year. In the event of accidents, diseases, pregnancies, crises, etc., this will cover medical costs as well as any other significant expenditures. Invest now Long-term returns on investments in reputable financial products might be favorable choice. Such a method not only guarantees sound savings in the future but also gives adequate time to plan for long-term goals like exotic vacations, home buying, etc. later in life. Pay off your debts to improve your credit score. In the upcoming year, make an effort to pay off your credit card debt. If you have credit card debt, try paying it off in full by 2023 to improve your credit rating. A thumb rule for debt repayment is to try to pay a little bit extra each time so that your loan's or debt's entire duration is shortened significantly over time. About eFunder.ai eFunder.ai aims to provide digital financing solutions that are tailored to grow and scale the businesses for SMEs. It offers latest integrated technology to provide a seamless, hassle-free interface to the customers. E funder offers absolute transparency across all their platforms which are robust, flexible and scalable. To learn more about prudent financial planning, how to boost your business goals with E funder’s uniquely crafted funding solutions and to experience financial freedom through an unrivalled cash flow funding solution, write to us at sales@efunder.ai. I hope the preceding advice will be useful to you in 2023 as you lay a solid financial foundation. Wish you all have a wonderful new year filled with health, happiness, and financial independence.
December 26, 2022
Planning Ahead for 2023: Overcoming Recession
After the COVID-19 epidemic, 2022 was a reasonably a good year as the population and economy started to steadily recover. However, the pandemic's negative impacts and the current geopolitical situation continue to caste negativity on the common man. There is a persistent worry about global economy slowing down and recession looming in 2023. Although financial and industry experts are optimistic that India may not be badly impacted by the global recession, however it is always advisable to be ready for any potential financial disaster. Here are some pointers to help you be ready for a prosperous financial 2023: Do a thorough financial inventory It's time for you to take a complete financial inventory and understand your financial situation well. Consider all of your assets, both cash and non-cash components, and work to increase the worth of each. This suggests that in order to maintain a steady cash flow in 2023, you need cut back on or minimize your financial spending. Click here to learn more about increasing the value of your non-cash assets (hyperlink to your services). Recognize your Risks What do you always fear in terms of financial stability? Is the field in which you specialize is becoming obsolete? By recognizing potential future cash constraints, control your financial risk in a balanced way. Plan and strategize your possibilities in accordance with the hazards you foresee in order to proceed smoothly without jeopardizing your recent financial gains. Maximize your opportunities More opportunities will boost your cash flow. If you have a job and a steady income, seek for more reliable options that will improve your cash flow. This can entail accepting weekend consulting or freelancing assignments related to your area of expertise. Try to develop a side business that is supported by solid research and grow that tiny business into a reliable side source of income. Consider inflation when making investments. Not every investment generates profitable returns. Even while the ROI may look fantastic on paper, they frequently are not inflation-adjusted. In order to comprehend your investments and prepare for future inflation, see a specialist in 2023 (hyperlink). Risk analysis of your assets is essential because it provides a mechanism to recognize, evaluate, mitigate, and keep an eye on any potential financial risks that can arise during recession. The best method and habits for creating a consistent cash flow during recessions can be inculcated by early preparation and ongoing investment practices that are based on research. Pay your debts responsibly. The easiest strategy to manage your finances is to limit your spending to necessities and avoid unnecessary costs. For instance, if you frequently take mini vacations, you might want to stop doing that and use the money you would have spent on that to make a loan payment or pay off your credit card balance in full. Such modest efforts can get your finances on track without causing any problems in 2023. Additionally, sticking to a budget will help you reduce your risk of being in debt on a practical level. 2023 - A year to achieve financial freedom You don't necessarily need to prepare for a recession just because one could happen in the future. Think of the upcoming year as a test run for your new financial strategy. By assessing dangers and comprehending how you might profit even during a predicted recession, adopt saving and investment behaviors. Write to us at sales@efunder.ai to learn more about prudent financial planning and how to boost your business goals with our uniquely crafted funding solutions.
December 26, 2022
Risk Analysis: How SMEs are evaluated for risk
Risk is the chance that a business will suffer financially if something unexpected happens. Any risk is a circumstance that can potentially be highly advantageous or severely detrimental to the financial stability of a small firm. A risk may occasionally cause a firm to close. It is essential to perform a risk analysis at your company before taking any risks. An approach for analyzing risks is called risk analysis for small businesses. Performing a risk analysis is a great way to determine your company's financial stability. Thanks to the assessment, you can prevent financial problems and make wise company decisions. Performing a risk analysis Business risk can be evaluated in several ways, but it is essential to remember that there are no single-answer approaches when assessing risk. Instead, it is best to consider the potential effects of your business decisions by running a small business risk analysis. To conduct a financial risk assessment, follow these steps: Determining the risks The first step in determining your level of risk is to identify the potential effects of your business decisions. When looking at the possible outcomes of a particular decision, consider how this will affect the future viability of your company. If you find multiple possible outcomes, consider breaking down these options into smaller groups and evaluating them individually. For example, suppose you are considering whether or not to move forward with a product that has yet to be successful in the past. In that case, you can determine which types of customers might purchase it by looking at their demographics and preferences. You then have a better understanding of how likely customers will buy into this product and, thus, its potential for profitability. Think about the impact a risk might have on your company. Next, consider your objectives and the potential benefits of taking the risk. Your threats will change depending on your company, region, and sector. Designate monitors Choose employees for your company who will monitor and handle hazards. You, a partner, or an employee could serve as the risk monitor. Decide on the reporting and handling procedures for troubles. Risk management processes help you handle problems in an orderly manner. Someone must take ownership of these risks, so they don't go overlooked or forgotten altogether! Establish controls After understanding potential threats, choose the controls you can use to reduce them. To forecast your revenue cycle, take a look at patterns across time. Additionally, evaluate the effect risks have on your company. Consider a risk's importance and the possibility that it will affect your company. Note the risks Write down the probable business hazards you've identified in a paper. Create a method to evaluate the impact of each risk. Consider the extent of the potential harm and the difficulty of the recovery. Create a scale for rating dangers from good to bad. Review frequently An ongoing commitment is required for your business risk analysis. Every year, evaluate your risk management procedures to assess how you manage risks. Additionally, keep an eye out for new threats that may have yet to be pertinent during the prior evaluation. Conclusion: The management of your organization requires doing risk analysis. Your business risk assessment can be used to inform decisions about funding. You can prevent risks that could harm your finances by conducting a quick risk analysis. The assessment tells you the precautions you must take to safeguard your company. You can recognize the scenarios you must deal with and steer clear of them. Evaluating your financial risk is also helpful internally as you prepare to speak with lenders. Before they invest money in your business, these people want to know how risky it is. They consider the prospect of your company expanding and your likelihood of repaying the loan. eFunder.ai is a leading digital financing platform that provides small and medium-sized businesses with instant cash and consistent cash flows against the receivables and helps boost your business growth. To learn more about digital funding solutions, write to us at sales@efunder.ai.
November 14, 2022
The Ultimate Guide to Amazon Financing Options
As an e-commerce seller, you might know that highs and lows in sales are unpredictable yet recurring and can affect the cash flow of your business operations. The same holds true for Amazon retail business as well. Having instant and reliable access to funding options can help you address the cash flow issues and grow your Amazon business. However, finding the right amazon financing options is far from easy. Banks and traditional financial institutions have strict criteria that may favour well-established enterprises or brick-and-mortar stores, but it could hold the fast-moving online businesses back from their growth. Why Do Amazon Sellers Need Funding? Whether you are running a store on Amazon, noon or any other eCommerce platform, you might need capital for various purposes. Some of the common reasons include the following: Business Growth: As your sales start growing, so does your need for an ever-increasing amount of working capital to cater to customer demands. This involves investing more into stocking up inventory, storage costs, allocating marketing budgets and hiring new staff if required. Paradoxically, you will experience trouble with your cash flow only after your Amazon business starts growing. Many business owners find securing funding to manage and scale their operations challenging compared to starting a business from scratch. Hence, working with a reputed and reliable funding solutions provider is essential for Amazon vendors and sellers. Daily Expenses: Running an e-commerce store may seem like an inexpensive endeavour, but nothing could be further from the truth. There are various costs associated with running an online business, which include maintaining Amazon vendor central, digital marketing, 3rd-party platform payments, transactional charges, security measures, shipping, returns and refunds and more. Even when your Amazon store is profitable and thriving, you need financial assistance to manage everyday expenses. That is why it is important to partner with a reliable financial service provider to get amazon working capital financing solutions to meet its short-term obligations. Why Do Amazon Businesses Struggle To Get A Working Capital Loan? Securing a business loan from banks is difficult for small and medium-sized enterprises, especially online businesses. Outdated legacy systems and processes of traditional banking and finance system jeopardize the development of SMEs. Lack of a conventional business plan, failure to provide good collateral, and absence of tax history or similar documentation are some of the main reasons banks do not give funding support to e-commerce businesses. If securing a bank loan can be next to impossible for Amazon business, where could you get funding assistance? eFunder.ai is your answer. Offering the most flexible and fastest funding solutions to new and existing Amazon or noon sellers, we ensure to help you channel the working capital to achieve your business objective effectively. We are just one of the many options businesses can rely on for amazon working capital financing. Read on to discover five alternative types of funding solutions available to Amazon businesses so that you can make a pick according to your needs. Peer-To-Peer Loans (P2P) P2P lending, a relatively new approach in borrowing and lending, is an online system that connects potential borrowers directly with individual investors for funding or loans. Instead of going through the time-consuming lending process of banks or credit unions, peer-to-peer lending uses an online system which acts as an intermediary between investor and borrower. In the P2P lending process, business owners can post their funding requirements on the lending platform. Lenders registered with the platform would check the loan listing request, decide whether to fund it and bid on it. As a borrower, you could secure funding from the highest bidder at competitive interest rates. P2P lending is a perfect option for all Amazon businesses as it tends to be quick and convenient and comes with attractive interest rates. Amazon Lending Amazon lending is a funding program where Amazon offers direct loans to its sellers. If you have an Amazon vendor central or a seller account, you can apply to get funding for your business at a rate lower than credit cards. Amazon's lending program is simple, has a fast turnaround time, and the fund gets deposited to the Amazon seller's account quickly when approved. However, e-commerce business owners should have a solid sales history of at least 12 months, excellent customer service metrics and sales volume to qualify for Amazon's lending program. Merchant Cash Advances A merchant cash advance (MCA) is a popular type of business funding suited explicitly for SMEs that accepts card payments from their customers. The lender provides the business with a cash advance against your sales and receivable card transactions. As an Amazon seller or e-commerce business owner, you have the option to get funding based on your future sales transactions through MCAs. The lender meets the repayments, deducting a percentage of each sale processed through a card terminal until the loan is paid off. Amazon Financing Options From eFunder.ai At eFunder.ai, we offer faster, safer and easier ways to fund your Amazon business through our financing solutions. Qualified sellers with an Amazon business can register with eFunder.ai and apply for our amazon working capital loans. Our team will review the eligibility criteria and instantly transfer the funds to the account after approval. Reach out to eFunder.ai today, and let us show you how easy it's to get started.
November 11, 2022
How to Start Preparing Your eCommerce Business for Q4 with eFunder.ai
The busiest and revenue-generating days of any online retailer's calendar are upon us. Undeniably, there is a lot to think and plan about going into this year's final quarter - Q4. If you run a product-based e-commerce business, Q4 is anticipated to be the most hectic yet lucrative sales season. Creating A Strategy For The Holiday Season Your plan to come victorious over the holiday shopping season should start early. Having enough time to plan and prepare is the best thing you can do for your business to engage your audiences and maximize revenue opportunities. Whether you are running a restaurant, online boutique or an Amazon store, it is essential to know how to strategize and execute. Keep in mind that preparing yourself for the upcoming quarter mainly includes setting up goals, using the right tools, and excellent execution. Here are some actions you can begin implementing for your e-commerce business now for the much-awaited Q4 sales. 1. Establish Your Calendar Developing a powerful and strategic plan for your e-commerce business entails utilizing all the key dates of the fourth quarter. The final quarter of the year is packed with events and holidays, which opens up a lot of sales and revenue opportunities for your online business. So, it is crucial to know when these holidays are and plan your activities around them. A well-organized and detailed business calendar can be your greatest asset as it would help roll out ad campaigns, manage inventory and engage with customers. Below is a list of key dates in Q4 2022 that every e-commerce business owner should be aware of: Halloween (31 October) Single's Day (11 November) Black Friday (25 November) Cyber Monday (28 November) UAE National Day (2 December) Christmas (25 December) Being aware of the upcoming events and holidays would help you plan and manage the business operations in advance, ensuring optimal engagement and reach. 2. Manage Inventory Levels The most important factor while preparing your e-commerce business for Q4 sales is to get your inventory systematized as early as possible to avoid a last-minute crisis. A successful Q4 could mean a massive spike in traffic and a flood of sales to your e-commerce store. Then you will need a steady inventory flow to keep up with the demand and ensure a seamless customer experience. You can start by mapping out your existing inventory levels and tracking what will be available during the holiday sales season. However, many small and medium-sized businesses may need help with the financing part of stocking up inventory. That is where e-commerce financing companies like eFunder.ai step in. Fast and flexible e-commerce invoice financing solutions from eFunder.ai are ideal for online businesses that need to purchase materials or stock up their inventory. Take a look at your previous year's sales report or the top-selling products this year to predict the sales growth during the whole holiday period. Once you have a clear idea of your sales projection and required stock levels, you can start filling up the inventory. If your business relies on sourcing raw materials or products from third-party suppliers, make it a point to speak with them and plan your stock deliveries in advance. 3. Define Your Order Fulfillment Strategy In addition to the inventory planning, you also need to consider the order fulfilment process, which includes shipping, returns, exchanges and refund. The most popular options for e-commerce businesses include in-house order fulfilment or outsourcing it to third-party logistics providers. Always keep the order placement, shipping and returns as easy and convenient as possible to ensure a positive experience for your customers. 4. Optimize Your Product Listings The next step in preparing your e-commerce business for the final quarter is to optimize and boost your listings. Examine and assess your website to make sure you are targeting the right keywords. Moreover, you need to update your product categories, descriptions and photos with the most relevant and latest information. Having the best e-commerce strategy for Q4 won't do your business any good if your website crashes from traffic spikes. And pages with longer load times could detract your visitors and cause them to switch to a competitor's site. In order to avoid these risks, conduct several tests and audits of your online store to check the performance and health of your website. 5. Prepare Your Marketing Campaign Promotional advertising and marketing are critical during the holidays, and if properly strategized and executed, they can increase your traffic, conversions and sales exponentially. As the busiest season takes off, make sure you already have your promotional and marketing campaigns planned, optimized and ready to go. Determine your pricing strategies, deals, vouchers, cross-selling and up-selling techniques to plan your sales days. This would help craft an effective campaign that will drive engagement and convert new and returning visitors. You can make the best use of promotion tools, coupon codes, social media ads, personalized packaging and more to achieve optimal growth and success in Q4. If you are struggling to secure funding for stocking up your inventory, kick start the promotional campaigns or organizing everything for the Q4 sales, eFunder's financing for eCommerce sellers can help. eFunder.ai gets you access to flexible financing solutions quickly so you can plan your sales accordingly and avoid a crunch at the end of the year. So, start planning now and get funded to make the most of every sales opportunity to finish 2022 out strong.
October 28, 2022
Level up Your eCommerce Store for Huge Black Friday Wins with eFunder.ai
The busiest and the most profitable time for retailers has arrived. The last quarter of the year, also known as the Golden Quarter, is just around the corner. With the sales peak starting before Halloween and ending right after Christmas or New Year, retailers must prepare themselves for success by investing time and effort. Black Friday events, or White / Friday as they call it in the Middle East and North Africa (MENA) region, are growing in popularity. This year, the famous shopping event by Amazon falls on 25th November. The much-touted sales event, first launched by Souq – now Amazon - as a three-day online-only event, has now evolved into a shopping extravaganza of the fourth quarter. Spanning all the major and micro moments, the black Friday sales are all set out to turn into a three-month-long shopping spree. According to the reports by Forbes, the total online spending worldwide during Thanksgiving and Black Friday in 2021 amounted to $14 billion. So, with the right marketing plan and strategy, the time, money and efforts you invest towards preparing your eCommerce business for Black Friday sales would be worth your while. As a small and medium-sized enterprise, you might be wondering how to compete with the retail giants and leverage the sales potential of Q4. The best way is to plan ahead and find creative ways to maximize your plan's impact. With an unsettled economic climate, dynamic demands and changing consumer demands, navigating the Black Friday Cyber Monday sales may seem challenging. That is why we have compiled a checklist to help you hit the ground running, avoid last-minute surprises, implement your marketing strategy, and make this holiday shopping season your best. Start Your Black Friday Sales Planning Before Q4 The Black Friday sales season happens over the course of four major phases, starting around 11 weeks before D-day. With online shoppers starting their search earlier and contemplating whether to buy online or locally, make it a point to communicate your exclusive deals and offers as early as possible. While Cyber Week, Single's Day and Black Friday aren't until nearly the end of the fourth quarter, the marketing efforts need to be implemented in October. If you want your eCommerce business sales to succeed during Q4, starting your planning early and building a sound strategy is essential. Having a well-defined strategy ensures nothing slips through the cracks during the busiest time of the year and gives you a specific timeline on what to do and when to do it. Determine Your Deals And Offers Whether you are running a restaurant, an Amazon store or a Noon store, it is important to plan your sales for the upcoming season. And the first thing you need to do is determine your discounts and offers. It would be best if you could find creative ways to promote your products or services so that customers can visit your store and make purchases. A classic way to structure your sales is to feature attractive discounts on high-selling items to draw people in and then upsell them on other products. Launching flash sales for a limited time or quantity is also a great option to grab audience attention and drive traffic. Make sure to plan your discounts, deals and offers by including your top-selling products and services. Optimize Your Website Preparing your eCommerce business for Black Friday sales is all about ensuring efficiency. And this is specifically true for your website, where the loading speed and user experience can make or break your customer's shopping experience and your conversion rate. Traffic spikes often come with a downside - it causes websites to slow down and ultimately crash. So, you will want to check your website's load capacity and ensure your web infrastructure is well-equipped to handle the high traffic volume. Providing an easy and fast checkout experience is another crucial factor to consider. If you want to boost your online traffic and maximize Q4 sales, you need to meet your customer expectations by offering a quick and seamless checkout process. Make sure your web presence is easy to navigate, interact with and buy from. With the big opportunity to reap sales and profit during the Black Friday and Cyber Monday sales, optimizing the customer experience of your web presence should be a priority. Plan and Prepare Your Inventory Now that you have a clear idea about the upcoming season deals and discounts, it is important to stock up your inventory. The only thing worse than having unsold stock is not having enough to meet the customer's demands. Running out of stock during Black Friday sales could be detrimental to your business. Imagine putting all the effort and time into preparing for the biggest sales, only to run out of inventory just when your customers start placing orders. Failing to meet your customer needs not only makes you lose on sales but also affects your brand reputation. Choosing and ordering the products you want to promote for the Black Friday sales should be done as early as possible, especially if your business is dependent on sourcing materials from third-party vendors or suppliers. You could make use of forecasting tools and inventory management applications to predict product demands and identify which merchandise you want to stock up for upcoming sales. Figure Out Your Funding Solutions The last quarter of the year is the perfect opportunity to promote your business and drive new revenue streams. But in order to put the marketing and sales plans into action, you need to fund your business. Stocking up the inventory, implementing the marketing strategies and advertising the offers - anything and everything requires financing. This is where eFunder.ai steps in with its wide range of marketplace sellers financing solutions. With its financing solutions for online businesses, eFunder.ai helps small and medium-sized businesses scale their operations and expand their reach. Planning, preparation and starting ahead are the key factors to a successful seasonal sale. At eFunder.ai, we help businesses with working capital funding solutions to manage finances in and out of seasonal sales. Want to learn more about how our financing solutions can help you achieve your Q4 sales target? Get in touch with us, and our team of experts would be more than glad to help you out.
October 27, 2022
How to Stay on Top of Your eCommerce Business Goals with eFunder.ai
Having a healthy cash flow is critical for any business, but it is especially important for fledgling small and medium-sized online businesses. eCommerce is a dynamic business space where money moves rapidly, and metrics change daily. A stable positive cash flow allows businesses to pay off debts, pay employees, avoid stockouts, invest in marketing activities and meet other unexpected expenses. 61% of businesses around the world surveyed for Quickbooks' 2019, The State of Small Business Cash Flow report revealed that they have struggled with cash flow. As a matter of fact, it is also a primary reason contributing to a small business's failure. So it is crucial to plan and execute your business cash flow to avoid shortages and disruptions of operations. Irregular cash flows paired with limited cash reserves can create problems for eCommerce businesses. Growing businesses often face this challenge, as they have to rely on credit terms to manage the cash flow and day-to-day expenses. Well, thanks to the advancements in digital space and finance sectors - there are innovative solutions to address the cash flow issues of struggling small and medium-sized eCommerce businesses. Not only these funding solutions are increasingly affordable and easy to access, but they also help businesses to ease any short-term liquidity blockages and avoid disruptions of operations. Invoice financing, a type of short-term financing, has become one of the most popular financing options among various marketplace sellers nowadays. Online businesses look for invoice financing solutions to turn their accounts receivables into cash, particularly in those situations where stretched-out credit terms create a cash crunch. Invoice financing offers a reliable alternative to traditional bank loans or lending systems and ensures many benefits for eCommerce businesses. Quick Access to Funds Most eCommerce business funding solution providers like eFunder.ai allow businesses to access funds within a short time. For instance, eFunder.ai credits the required funds within 24 to 72 hours after its easy onboarding process. Instant access to funds helps businesses meet their emergency cash flow requirements and negate the chances of downtime. Releases Tied Up Capital Invoices are often set with repayment terms of up to 90 days, which makes things simple for the buyers but difficult for marketplace sellers. For instance, if you are running an online store, and your buyers take at least two to three months to release the payments for purchased goods or services, your business is bound to experience a financial crunch sooner or later. Lack of required capital or stagnating cash flow also leads your business to miss out on lucrative market opportunities. With invoice financing solutions, you gain access to the capital amount tied up in those unpaid bills and inject cash flow into your business operations. Hassle-Free Process With Simple Repayment Terms Getting financial solutions for fintech companies is a quick and easy process. You are not required to repay the invoice financiers until you have received payment from your customers. However, you need to look for reputed companies that will extend a significant percentage of your invoice value in exchange for simple, easy-to-meet requirements. This will enable you to obtain funds fast and make repayments. Avoid Debt Accumulation Unlike traditional funding options, invoice financing is not a credit facility; rather, it is an extension of payment terms, which helps to retain a business's cash flow without creating or adding new debt. eCommerce businesses, especially startups, can benefit from invoice financing and eCommerce working capital financing solutions as it lifts the uncertainty regarding the cash flow, eliminates the risk of debt crisis and secures your company's potential to grow and thrive. At eFunder.ai, we help SMEs with innovative and flexible financing solutions to manage their cash flow more efficiently. Moreover, our financing for marketplace sellers aid eCommerce businesses in expanding into new markets, scaling their operations and reaching more customers. To get instant access to working capital advance, get in touch with us today!
October 25, 2022
Get Quick Access To Steady Cash Flow With eFunder.ai
With retail eCommerce sales worldwide forecast to reach about 8.1 trillion dollars by 2026, it's never been a better time to start an online business. Add to it the relatively low barrier of entry to start an eCommerce company, which makes it a promising choice for aspiring entrepreneurs. Online businesses, regardless of their nice or size, will often come up against a number of barriers when it comes to arranging capital for the cash flow solution. In fact, many online businesses or marketplace sellers are seasonal and often look for short-term yet fast and flexible financing options. However, short-term loans are unconventional among traditional lenders, and the lending process is lengthy and cumbersome, often taking months. For eCommerce businesses that manage to secure funding from banks or lenders, the repayment terms, interest rates, or loan length always pose a hurdle for future business growth. The inflexibility of traditional banking systems impacts eCommerce business funding adversely. Without proper financial support, the consequences could be disastrous for online businesses. 90% of new businesses fail during the first four years, according to research, but even those online enterprises that succeed will probably require more working capital to expand in the future. The good news is that new service providers like eFunder.ai are filling in the gaps between what banks can offer and what businesses actually need from their banks. Providing instant access to flexible and tailored solutions to grow and scale their businesses, digital platforms like eFunder.ai ensure to alleviate the financial burden on SMEs. Getting financial assistance from eFunder.ai is an easy and hassle-free process. What are the requirements to get funding from eFunder.ai? Have historical online business performance of 3 to 6 months, depending on the buyer ecosystem you are looking to finance Provide permissioned data access to the buyer ecosystems on which you would require financing Agree to the terms and conditions set out under our Early Payment Agreement Agree to the opening of a virtual bank account for the collection of all current and future online receivables Agree to provide a security cheque Agree to provide KYC/AML documents such as Trade License, Tax Registration Certificate, Identification etc. eFunder.ai Online Application Process There are only a few simple steps to get funding from eFunder.ai. Visit eFunder.ai website and click on Login or download eFunder.ai app from Apple App Store or Google Play Store Click on Create Account and enter your details Once you have entered the above details, please check the terms and conditions fully and scroll down to enable the accepting of the terms You can then select the respective online ecosystem and product type for which you are seeking financing You will then be asked to fill in certain details and upload documents For the documents, you will need to upload a signed termsheet and authorization letter. The template for which will be provided by our sales or accounts team who you can reach out to at sales@efunder.ai or accounts@efunder.ai Please also fill in the relevant details for respective ecosystems Once all details have been uploaded, please expect a verification call from our team and on finalization all details, your account should be activated within 24-48 hrs Solving the toughest financial challenges of an eCommerce business, eFunder.ai provides funding solutions to stabilize the cash flow and cope with payment obligations. Whether you are starting your Amazon store or any other eCommerce store from the ground up or planning to expand your business, there is still a wide range of finances to factor in. This is where eFunder's eCommerce financing solutions come in. Integrated with more than 14 global platforms, eFunder.ai ensures to offer instant access to unique financing solutions like daily advance, vendor advance and working capital advance. Invoice financing can be an attractive option for online marketplace sellers that require quick access to working capital. In the early stages of a business, avoiding waiting until your customers have paid their entire amounts can facilitate business growth and even resolve issues with customers who take a long time to pay. Moreover, paying your market suppliers in a timely manner would strengthen your business relationships and make doing business with them a much smoother experience. Let eFunder.ai help you double up on your inventory or plan your future growth without sacrificing cash flow. Get in touch with our dedicated support team for more information.
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