Featured Articles
Blog Categories
March 18, 2024
Financial Planning for SMEs in 2024
As we step into 2024, SMEs are gently pushed towards the crossroads of opportunities and challenges. This year will witness newer shifts and developments in the technological and economic landscape provoking small and medium-sized enterprises to embrace proactive plans and strategies to assure steady growth. In this short guide, we will dive into the financial planning for SMEs in 2024 and how to produce multi-dimensional annual scenarios. Past mistakes – a lesson to learn Everybody makes a mistake, and your enterprise is no exception. Learning from past mistakes to make foolproof financial strategies will ensure that you are on the right track and that you will not repeat the same grave mistakes. Here are a few tips to evaluate your flaws from the last year. Retrospection: identify and acknowledge the mistakes you made in the last year. Root causes and their consequences in financial loopholes should be analyzed thoroughly. Documentation: keeping a record of issues and concerns from the past years that resulted in financial loss will be a guidebook to build a foolproof strategy this year. Cultivating a culture of knowledge-sharing ensures that mistakes from the past are disseminated throughout the organizational structure. Adaptability: recognizing that your business landscape is ever-changing, you may need to accept the fact that what financial plan worked in the past year may not be valid this year. Financial planning for SMEs The financial planning should set a clear and actional goal. Such goals are taken as resolutions that not only go with the overall company’s vision but also address specific concerns essential for sustainable growth and resilience. Here are some of the factors to mind: Identify financial goal Considering all channels of income and expenses will help you set your financial goal for SMEs in 2024. For instance, revenues may come from DTC and Amazon through new customer acquisition, and returning customer revenue can be separated from wholesale revenue. Likewise, expenses could have segregated sections such as value prop budgeting, activity-based budgeting, incremental budgeting, and so on. Target revenue growth Encompass both short- and long-term objectives to set a clear outline for your revenue growth target for the year. The holistic approach would get you a complete picture of your financial ambitions. You may then break down these revenue targets into products or services and segment through customers or geographical sections. Strategize cost management You may implement some measures to monitor and manage the costs of operations and overheads. This helps you assure fiscal stability in economic uncertainties. You may adopt some cost-efficient planning; nevertheless, SMEs need to pay utmost attention that cutting down the cost should not affect customer satisfaction or experience. Financial health check for SMEs in 2024 The year 2024 will come with its own challenges of fast-paced technological change and volatile consumer demands. Hence, for SMEs, it is essential to establish and maintain stringent financial health checks. Here are some of the essential factors to mind while doing the check: Comprehensive fiscal analysis: get deeper into balance sheets, income statements, and cash flow records to figure out the financial ratio showcasing liquidity, profitability, and solvency. Liability and debt assessment: SMEs need to review their debts and liabilities along with checking the terms and amounts of existing borrowings. Interest rates and schedules of repayment may help build a clearer picture. Optimize inventory management: Preventing overstocking and stockouts is quite essential to have foolproof finance planning for SMEs. Evaluating and adjusting inventory management will help you achieve it. Tax planning: You must review current tax liabilities and make sure they fall in compliance with local tax regulations. Explore opportunities while mitigating tax liabilities without compromising on legal ethics. Technology integration: Technology evolves every hour, and your financial goal should include this factor. If SMEs deal with sensitive data or you want to expand your customer base, the latest technology solutions such as cloud computing, and mobile app development integrating contemporary technologies like IoT, Blockchain, AR/VR, and AI should be considered a fruitful investment. Work automation through robotic process automation, chatbots, and virtual assistants is the need of the hour. Cyber security, financial planning and analysis (FP&A) tools are worth investing in. Ready to execute a financial plan? Having a multi-dimensional approach in calculating and evaluating the balance sheet and learning from the mistakes made in the past year, you can execute the new finance plan for SMEs in 2024. You need to get all key stakeholders in place and discuss the feasibility of the finance plan for 2024. Whether you are more concerned with maximum cash or do you want steady growth to build the foundation for your SME for years to come? You need to discuss every facet of the finance plan for 2024 before implementing it in real life. eFunder.ai as a great helping hand If you're considering financing needs for your business, eFunder.ai's digital solutions can make a significant difference in meeting your working capital requirements. Their advantages include instant same-day payments, consistent cash flow, quick onboarding, transparent processes, and flexible funding tailored to your business needs. Thus, eFunder.ai comes as a helping hand to your SME in planning finance for 2024. Whether you want funds to initiate a new line of products or want to zero your debt, eFunder.ai can do it all for you.
March 24, 2023
How Digital Financing Can Help SMEs Thrive During Ramadan
Ramadan is a holy month observed by Muslims worldwide, in which Muslims come together, fast and use this time to reflect, as well as increase acts of worship. This period presents a unique opportunity for small, and medium-sized enterprises (SMEs) to engage with their customers and promote their products and services. By leveraging digital financing, SMEs can take advantage of the increasing trend of online shopping and digital payment platforms, making it easier for customers to find and purchase their products. This also allows SMEs to expand their reach to a wider audience, including those who may not be able to visit their store. Fortunately, the rise of digital financing has provided SMEs with a valuable tool to help them thrive during this period. Here are some of the keyways that digital financing can benefit SMEs during Ramadan: Enhanced Efficiency Digital financing presents SMEs with a more efficient way of managing their finances. By using digital tools and platforms, SMEs can streamline their financial processes, reduce paperwork, and eliminate manual data entry. This can help SMEs to save time and money, while also enabling them to focus on more strategic business activities. Overcoming Challenges Digital financing can also help SMEs overcome challenges they may face during Ramadan, such as decreased foot traffic and reduced working hours. By promoting their products and services on digital platforms, SMEs can continue to reach customers even when their stores are closed. They can also use digital marketing strategies, such as social media advertising and email marketing, to increase their visibility and attract more customers. Better Cashflows and Inventory Moreover, digital financing can help SMEs better manage their cash flow and inventory during Ramadan. By using digital payment platforms, SMEs can receive payments faster and more securely, which can help improve their cash flow. Digital inventory management systems can be implemented to track stock levels and ensure they have enough inventory to meet demand during the busy Ramadan period. Customized solutions Digital financing solutions can be further customized to meet the unique needs of SMEs during Ramadan. For example, some digital financing providers offer short-term financing options to help SMEs manage their cash flow during the holy month. This type of financing can be used to purchase inventory or equipment, pay salaries or rent, or invest in marketing and advertising campaigns. Invoice financing Another digital financing solution that SMEs can benefit from is invoice financing. This type of financing allows SMEs to receive payment for their invoices upfront, rather than waiting for their customers to pay them. This can help improve their cash flow and ensure that they have the funds they need to operate during Ramadan and beyond. Why eFunder.ai At eFunder.ai, our goal is to provide digital financing solutions that are specifically designed to help small and medium-sized enterprises (SMEs) grow and scale their business. We understand the challenges that SMEs face when it comes to accessing financing, and we strive to offer a seamless and hassle-free interface which makes it easy for our customers to access the funding they need to achieve their business goals. One of the key advantages of partnering with eFunder.ai is the use of the latest integrated technology that we offer. This enables us to provide a streamlined and efficient financing process, making it easy for our customers to receive the funding they need in a timely manner. We also believe in complete transparency across all our platforms. Our systems are robust, flexible, and scalable, allowing us to provide our customers with the highest levels of service and support. Whether you are looking to access, or any other type of funding solution, we have the expertise and experience to help you achieve your business financial goals. If you have any queries or questions, please do not hesitate to get in touch with us. We are always here to assist you and provide you with the information and support you need. Email id: sales@efunder.ai Mobile Number: +97126810985
February 8, 2023
Traditional Financing vs Digital Financing – The Current Global Perspective
The global lending landscape has undergone tremendous changes in the past decade. Earlier, banks, small business loans, angel investors, venture capitalists, and grants were the few traditional ways in which one could acquire finance for their businesses and projects. However, today, with digital finance and lending technologies taking the lead, the efficiency in lending had improved considerably. Fintech businesses have realised the far-reaching benefits and deep impact of digital finance and have since then invested heavily in developing AI, Machine Learning, mobile applications, financial social network platforms, cloud computing, distributed ledger technology along with data analytics. Today, financial transactions and interactions between two or more institutions are performed instantly in real-time just by using just a mobile phone. Digital Financing – Paving the way for complete, global financial inclusion Globally, the digitalization of the financial industry has helped promote financial inclusion. Such development had enabled the means to address the problem related to financial despairs in emerging and developing economies. With new technologies like blockchain creating waves, the regulatory aspect of digital financing is also going to be much more transparent across all platforms. This also makes lending easy, even for small financial institutions as they can collaborate with bigger institutions and be a part of the financial inclusion framework. In the end, the common man has much quicker, easier, and more reliable access to financial services and advice with digital finance. Since digital finance can acquire and process huge amounts of information almost instantly without the dissemination of cross-spatial information under low costs, the lending reach of any financial institution increases manifold without geographical locations. It has also helped in solving the pain points of traditional finance systems and thus bridging the gap between investors, lenders, and borrowers. A step towards efficiency and sustainability with digital lending As digital technology continues to evolve, the reluctance to lend money to the low-income and remote populace has been erased significantly. Today, financial services are not just limited to traditional financial services like banks, savings, stock trading, etc. Instead, SMEs and MSMEs are taking the world by storm with technological advances with timely access to digital financing services without geographical and logistical constraints. The number of users covered by digital lending is increasing daily as technology acts as an enabler for accessing instant finance. With the online access and verification process, the traditional method of physically visiting a financing institute, applying for a loan, and waiting for approval is slowly dying down. With instant eligibility and credit checks, finance is available with better reach for the long-tail customer, which otherwise goes overlooked by traditional financing operations, all the while reducing the operational costs for the lending business. Digital lending is thus enabling sustainability and financial stability with high efficiency for the end user at both ends of the financial spectrum. Summing it up With the awareness of digital lending spreading across emerging economies, the global lending landscape is changing. Many countries are successfully adopting digital technologies to provide robust frameworks to include people from all income groups to improve their lives and in turn their growing economies. eFunder.ai – Your one stop lending solution! 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 know more about such developments and also to acquire financing through digital lending methods, write to us at sales@efunder.ai or get in touch on our number +97126810985 today.
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.
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.
August 26, 2022
How Digital Financing Solutions Are Shaping Today’s Economy
Digital financing solutions are shaping the economy in a big way. More and more businesses are turning to digital financing options to get the money they need to grow their business. As per Vantage Market Research, Global Digital Financing was at USD 10.5 Bn in 2021 and expected to reach USD 22.4 Bn by 2028 at a CAGR of 13.5%1. Recent research says that the widespread adoption and utilization of digital financing solutions could increase the GDPs of all emerging economies by 6 %. This additional GDP will likewise assist to create up to 95 million new jobs across all the sectors of the economy There are many different types of digital financing solutions available, and each one has its own unique benefits. In this blog post, we will discuss how digital financing solutions are beneficial to your business. Digital financing solutions offer transparency and convenience for both borrowers and lenders In an increasingly digital world, it's no surprise that financial transactions are moving online as well. From Venmo to Robinhood, there are a variety of apps and platforms that allow users to send and receive money with the click of a button. While traditional banking institutions are still important, digital financing solutions offer transparency and convenience for both borrowers and lenders. For borrowers, online platforms make it easy to compare rates and terms from different lenders, get onboarded quickly and drawdown on facilities without any additional waiting period. And for lenders, digital financing solutions offer a simple way to track payments and manage borrower information while ensuring their capital advances are monitored at any given time. In addition, digital financing solutions can help to reduce costs and speed up transactions. As the world continues to go digital, we expect to see more and more financial transactions taking place online. They provide an efficient way for businesses to get the capital they need to grow Access to capital is one of the most important factors for any business, but it can be especially difficult for small businesses. Traditional lending institutions often have strict requirements that can be difficult for small businesses to meet. As a result, many small businesses turn to digital financing solutions. Digital financing solutions provide an efficient and convenient way for businesses to get the capital they need to grow. With digital financing solutions, businesses can apply for loans online and receive funding in as little as 24 hours. In addition, digital financing solutions offer flexible repayment terms that can be tailored to the unique needs of each business. As a result, digital financing solutions provide an invaluable resource for small businesses looking to grow and expand. This type of financing is especially beneficial for small businesses and startups In today's business world, cash is king. In order to grow and succeed, companies need access to capital. However, traditional financing options can be out of reach for small businesses and startups despite being key drivers to their respective country’s economies and employing a large portion of the private workforce. This is where digital financing comes in. Digital financing refers to the use of online platforms to raise capital. This can take the form of crowdfunding, peer-to-peer lending, or even cryptocurrency. The key advantage of digital financing is that it provides access to capital that might otherwise be inaccessible. As a result, it can be a critical tool for small businesses and startups looking to get their businesses off the ground. Whether you're looking to finance a new product line or fund a marketing campaign or increase your inventory, digital financing can give you the boost you need to succeed. It helps to remove some of the barriers that can prevent companies from obtaining funding In today's business world, one of the most important things for a company is to have a strong financial foundation. However, obtaining the funding needed to start or grow a business can be difficult, especially for small businesses and startups. There are a number of reasons why this can be the case, such as a lack of collateral or poor credit history. However, digital financing solutions are helping to remove some of these barriers and make it easier for companies to obtain the funding they need. By providing an alternative to traditional bank loans, digital financing companies are making it possible for more businesses to get the capital they need to succeed. In addition, these companies are often willing to work with businesses that have less-than-perfect credit, which can be a lifesaver for startups that are just starting out. As digital financing solutions become more popular, it is likely that more businesses will be able to obtain the funding they need to grow and thrive. Digital financing solutions are also becoming more popular with consumers In recent years, there has been a dramatic shift in the way that people manage their finances. Where once cash and cheques were the dominant forms of payment, now debit and credit cards are standard. In addition, digital financing solutions are also becoming more popular with consumers. Services like PayPal and Venmo allow people to send money to one another with just a few clicks. This convenience is one of the main reasons why digital financing solutions are gaining popularity. Another advantage of these services is that they offer greater security than traditional methods of payment. For example, if a credit card is stolen, the owner can cancel the card and avoid any financial losses. In contrast, if cash is stolen, it is very difficult to get that money back. As a result, digital financing solutions offer both convenience and security, making them an appealing option for consumers. This allows people to access credit more easily and at a lower cost than traditional methods In the past, accessing credit was a time-consuming and expensive process. borrowers had to go through a lengthy application process and put up collateral in order to qualify for a loan. However, with the advent of digital financing solutions, borrowers can now get access to credit more easily and at a lower cost. These solutions use cutting-edge technology to assess borrowers' creditworthiness and provide them with the funds they need in a matter of minutes. Digital platforms use both conventional and alternative real-time data sources to recommend accurate decisions almost instantaneously. This maximizes decision accuracy with full control of their risk appetite. What's more, these loans can be used for any purpose, from starting a business to covering unexpected expenses. As such, digital financing solutions are changing the way people access to credit and are opening up new opportunities for borrowers all over the world. By giving borrowers more choices, digital financing solutions are helping to shape today’s economy Before the advent of digital financing solutions, borrowers had few options when it came to obtaining a loan. They could go to a bank or credit union, or they could take out a home equity loan. However, these options were often not available to people with less-than-perfect credit. As a result, many people were unable to obtain the financing they needed to start a business or purchase a home. Digital financing solutions have changed all that by giving borrowers more choices. Today, there are a variety of online lenders that provide loans to people with all types of credit histories. In addition, many of these lenders offer more flexible repayment terms than traditional banks alleviating a lot of the financial stress that tends to come with traditional loans. As a result, digital financing solutions are helping to shape today’s economy by making it easier for people to obtain the financing they need to start businesses and buy homes.
Helping Small and Medium Businesses Unlock Growth
Experience financial freedom through our unrivaled cash flow funding solutions.
Your leading provider for digital financing solutions.