Online retail is booming and the opportunities it provides are ample. But there’s a catch, to make money you need to spend money. Pushing your products on online marketplaces requires advertising funds, expansion costs money and so does peak season inventory management.
Having working capital at hand is a vital requirement in the ecommerce business. It allows you to make the most of your opportunities. To ensure its sellers are ready for any ecommerce opportunity that presents itself, Jabong has tied up with FlexiLoans Technologies Pvt. Limited (FlexiLoans).
The etailer announced its partnership with FlexiLoans through an email. As per the announcement, its financial partner will cater to the working capital needs of online sellers on the platform.
What kind of finances will FlexiLoans provide?
FlexiLoans is a technology based financing platform that started off solving SME financial problems. They were provided quick, flexible and adequate funds for business growth. Similarly, the short-term loans they will provide to Jabong sellers will be:
- Collateral free
The etailer’s email informed sellers that they will receive funding within 48 hours of loan application. The working capital lending company provides flexible loans suitable for business cash flow requirements. These loans can also be customized further to meet an individual seller’s requirements based on his products.
The loan product
- Loan amounts: up to Rs. 5,00,000
- Loan duration: 3-9 months with fortnightly/monthly instalments
- Loan type: Working capital term loans/ invoice discounting
How can sellers apply?
To avail of this funding sellers can reply to the email sent by Jabong about the same, with their contact details. FlexiLoans’ will then reach out to them to complete the process. Sellers can also directly apply for working capital through the following procedure:
Step #1 – Visit the FlexiLoans website and fill in the application form available there.
Step #2 – Submit the required documents
Step #3 – Generate credit scored within less than 48 hours
Step #4 – Complete the approval process and get the agreement signed
Step #5 – Receive the loan amount once your documents are processed