You have a growing Ecommerce operation but are struggling to inject enough capital to cover your plans for world domination. We know the feeling and when we started on our journey we thought the best place to go to fund new stock and marketing was the traditional high street bank or even VCs. Well not anymore, there are new players about and they don’t require you to hand over equity or personal guarantees.
As with everything we do at We are Chain and talk about on this blog, we have tried it out first. In fact, we have used multiple brands to find the best one. Therefore….
It is with great pleasure that we can announce our partnership with Uncapped who offer fast and flexible funding for founders. This amazing service is easy to use, quick to arrange and will give you access to enough money to take your business into the stratosphere.
Ecommerce Funding. Sounds too good to be true?
That’s what we thought until after a little bit of research and a quick chat on zoom. We managed to turn our fairly small drop-shipping business into a 6 figure operation with it’s own stock warehouse that is fast becoming a major player in the pet supplies market.
What do you need?
An online model using a recognised eCommerce platform like Shopify, Amazon or Woocomerce. 6 Months of Trading figures that can be accessed from your back-end by the lender. At least £10k in monthly revenue.
Decide what you need to spend your money on, marketing, stock or even expanding your team. Then work out how much you need to borrow and you will get an offer in a matter of hours. The cost involved is between 6-12% and this figure is fixed at the beginning of the contract
How do you repay the finance?
The beauty of the Uncapped service is that the repayments come straight out of your account when you make a sale. There is no fixed repayment date, no personal guarantee and no hidden costs. You agree a repayment structure of somewhere between 10-20% of each sale and that figure is paid back on every sale. The beauty of this system is that if your sales slow due to seasonality or a stock issue you won’t have to repay until they start up again. No more large payments once a month as was typical with traditional banks.
What’s the limit?
We think the sky is the limit and even then we want to go further. We would recommend a smaller figure to start so you understand the process and learn to trust it. They lend between £10,000 and £5 million and the money can be used where best needed.
Would we raise funding for our Ecommerce operation again?
Yes, we are already on our third round of funding and will continue to do this as long as we need it. If you want to talk to us about what we think and who we would use then get in touch. Or visit the partnership page on Uncapped which has all the required information.