Amazon is one of the biggest virtual online stores in the world. It has the reputation that from needle to Airplane, you will get everything here. This is the biggest retailer online store as well. People sell their products as well on Amazon. Currently, it is the hub of over 1 hundred thousand retailers selling their products through Amazon. This means that now you do not need any physical office or showroom to sell your product. You just need to register with Amazon and start selling. BitX Funding is the online marketplace for small business owners looking for Inventory Funding for Amazon resellers.
Now, when it comes to selling on Amazon, you still require some funding for the start-up. For this, you will also require some financial aid to make your own product. Then fulfill the orders that you get from Amazon. Here we are going to discuss 5 simple ways in which you can get funding for selling your product on Amazon.
Small Business Loan
Every startup requires a little financial push. Even if you are selling on Amazon, you guys require some funding. To manufacture your product and then sell it on Amazon. For this purpose, you can apply for a small business loan. This loan is designed to aid small businesses, and they come with average interest rates but are easier to obtain than an SBA 7a loan. Through this loan, you can start your production and meet all the deadlines of your orders that you get on Amazon. This works just like a regular SBA 7a business loan, but the annual interest rate in small business loans is higher.
SBA 7a Loans
This is another way from which you guys can apply for a loan to aid your business. This business loan type is like a small business loan, but the SBA or government is involved in this small business. It is an administrative authority that acts as the symbol of validity on behalf of the borrower. Unlike a small business loan, SBA loans have a long procedure but even less interest rates than Small business loans. SBA 7a loan’s current interest rate is 6% with 10 to 20-year terms, which are extremely attractive.
Quick Merchant Cash Advance
Usually, this is a kind of loan that lenders give to only established businesses, but due to the increasing demand for online shopping, they also give it to those who sell on Amazon. This loan will pay the borrowed amount with a percentage of every sale.
Personal Term Loan for Business
This is another way to get funding to sell on Amazon. This is a technique in which you get a personal loan on your personal account and then use the borrowed money to sell products on Amazon. Typically, this loan requires a guarantee in the shape of property or personal assets and has a higher annual interest rate than small business loans.
Inventory Line of credit
This is another way you can get funding for the Amazon business. You must apply for this specific type of loan, and it will work like a line of credit based on the value of your inventory. You can access unlimited funding to grow your business, whereas Amazon loans are capped at $1 million.
So, these are the 5 simple ways through which you can get quick funding for selling on Amazon.
BitX Funding is an online marketplace for small business owners looking to fund a project. We specialize in connecting small business owners with lenders who will compete for your business. We believe small business owners drive the economy and are passionate about helping your company reach its full potential.
You can reach a loan specialist toll-free at 1-800-824-2407, email [email protected], or apply online here, and we can guide you on which loans are the best fit for your business.
