The demand for online retail is extraordinary. Industry experts claim that online retail is only going to get bigger with time. NASSCOM reports that by 2020 it will make up for 2/3rds of the entire ecommerce market. The report also reveals that 730 million consumers will be online by then and the growth of this industry will be driven by rural potential.
But to meet the swelling demand for digital retail, online sellers need to expand their businesses. This means money is essential money and the level of expansion required will use a lot of it. So to help online sellers meet their expansion goals online marketplaces are offering financial support to sellers. They are partnering with loan facilitators.
Limeroad recently announced through an email its online merchants can now avail of loans in 5 simple steps from FlexiLoans. FlexiLoans specialises in online funding. It provides flexible, quick and adequate funding to small business. Limeroad’s partnership with them is an attempt on the etailer’s part to create a mutually beneficial ecosystem for sellers.
Benefits of availing FlexiLoans
According to the email from the ecommerce company, sellers were informed that they will enjoy features like:
- Unsecured loans
- Quick loans – eligibility will be determined in 48 hours
- Prepay anytime – no prepayment penalties
- Attractive rates starting from 1% per month
- No fees
- Flexible repayment schedule from 3 to 12 months
The 5 step FlexiLoans application
Step 1 – Log into the FlexiLoans website or download the FlexiLoans app
Step 2 – Pick Limeroad as an ecommerce partner
Step 3 – Upload all the requested documents
Step 4 – Receive decision
Step 5 – Acquire funds
Fashion etailer Jabong has also partnered with FlexiLoans to provide 5 lakh working capital loans to sellers on its platform. Other online retailers offering loans are Flipkart, Shopclues, Snapdeal, Craftsvilla, Amazon and eBay.