Running an online store can be exciting, but growing it takes more than just effort—it takes money. If you want to expand your ecommerce business and take full advantage of the booming digital market, extra funding is often necessary.
The good news? You no longer need to rely solely on banks or traditional investors. Today, there are several modern platforms specifically designed to offer quick and flexible financing for online businesses. Here’s a detailed look at some of the best platforms you can use to secure an ecommerce business loan.
1. 8fig
8fig is a fast-growing company founded in 2020 with a mission to help online sellers reach 8-figure revenues. It provides funding and growth planning tools tailored for ecommerce entrepreneurs.
- The platform connects directly with your ecommerce site—whether it’s Amazon, Shopify, BigCommerce, WooCommerce, eBay, or Wix—and uses artificial intelligence to review your sales data, expenses, and business trends.
- Instead of giving you all the money in one lump sum, 8fig releases funds in scheduled installments, helping you manage cash flow more effectively.
- Apart from financing, 8fig offers tools to plan your inventory and manage supply chains.
Eligibility: Your business should be earning at least $8,000 per month for three consecutive months or have annual revenue of $100,000.
2. Payability
Payability provides funding solutions for ecommerce sellers on platforms like Amazon, Walmart, and Shopify. It focuses on helping sellers overcome daily cash flow issues.
- Instant Access: You can receive 80% of your previous day’s sales the next business day.
- Instant Advance: You receive 75% to 150% of your monthly sales in advance, which is repaid by automatically deducting a fixed portion of your daily sales (typically between 2% and 25%).
Eligibility:
- For Instant Access: At least $10,000 in monthly sales for three months.
- For Instant Advance: An average monthly revenue of $50,000 over nine months.
3. Wayflyer
Wayflyer offers revenue-based financing to online sellers, helping them cover business expenses such as inventory restocking, marketing, and advertising.
- Once you connect your store (e.g., Amazon, Shopify, WooCommerce), Wayflyer analyzes your financial data to provide tailored funding offers.
- You can borrow anywhere from $10,000 to $20 million, depending on your business performance and needs.
Eligibility:
- Your ecommerce business must have operated for at least 6 months.
- You need a minimum monthly revenue of $20,000.
- Available in select countries including the US, UK, and Canada.
4. Shopify Capital
If you sell on Shopify, the platform itself offers financing under its Shopify Capital program. It’s designed to help sellers grow their stores.
- Shopify doesn’t require you to apply—if you’re eligible, they’ll notify you with a funding offer.
- You can receive a cash advance ranging from $200 to $2 million.
- Repayment is done automatically by taking a small percentage from your daily sales.
Use Cases: You can spend the loan on marketing, inventory, employee salaries, and more.
5. PayPal Working Capital
PayPal doesn’t just process payments—it also offers business loans to ecommerce sellers through its Working Capital program.
- You can borrow up to 25% of your annual PayPal sales (up to $97,000 for first-time borrowers).
- The repayment includes a fixed fee and a small percentage of each sale until the full amount is paid off.
- There’s also a minimum repayment amount every 90 days based on how much you borrowed.
Eligibility:
- You need a PayPal business account active for at least 3 months.
- Must have processed at least $15,000 in PayPal sales in the past 12 months.
- No outstanding PayPal Working Capital loans.
6. Payoneer Capital Advance
Payoneer, a popular payment gateway, also offers ecommerce funding through its Capital Advance feature.
- Available to sellers on Amazon, Walmart, and Wayfair.
- You can get funding worth up to 140% of your monthly payouts from marketplaces—up to $750,000.
- Payoneer reviews your store’s sales history and sends funding offers accordingly.
How It Works: Link your marketplace account to Payoneer, and they’ll handle the rest by evaluating your sales and generating customized offers.
7. SellersFi (formerly SellersFunding)
SellersFi provides tailored financing options to online businesses through two key offerings: Daily Advance and Working Capital.
Daily Advance:
- Get up to 90% of your sales from the previous day.
- A flat fee of about 1.5% applies.
- Minimum requirement: $1,500 in monthly net sales and three months of active selling.
Working Capital:
- Loans from $5,000 to $5 million.
- Repayment terms range from 3 to 24 months.
- You can also choose to pay interest-only for the first 4 months.
- Minimum requirement: $20,000 monthly net sales and at least six months of selling history.
Final Thoughts
The platforms listed above specialize in supporting ecommerce businesses with flexible, fast, and practical financing. These companies understand the challenges of running an online store and offer loan products tailored to meet your cash flow and growth needs.
Tip: Before applying for funding, make sure you’ve written a strong ecommerce business plan. It helps you clearly present your goals, operations, and growth strategies to lenders, increasing your chances of getting approved.
By choosing the right financing partner and preparing your business wisely, you can unlock new levels of growth and profitability in the competitive ecommerce space.
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