Wayflyer helps businesses through revenue-based financing. The platform offers flexible financing options that can be spent on marketing, inventory, and other business needs.
You need to connect your marketplace platform or processor like Amazon, Shopify, WooCommerce , or Raya to Wayflyer. It will then analyze the available information and provide you with funding offers. The platform practically buys a portion of your total sales and makes funds available as an advance. Depending on your business, you can get funding worth $10,000 all the way up to $20 million.
revenue of $20,000 per month. The platform only charges 2% to 8% for each cash advance amount. Wayflyer only works with businesses established in select territories, including the US, Canada, and the UK.
- Shopify Capital
Shopify Capital Homepage
E-commerce platform Shopify has created a financing program vk database specifically for its merchants. This in-house financing is available to stores with a strong sales track record. Shopify hasn’t been public with details on how the program works, but if you qualify, you simply receive messages containing financing offers.
The program provides cash advances for merchants where you can get $200 up to $2 million . The amount can be spent on payroll, inventory, and marketing. The platform deducts part of your daily sales on the platform until the amount is recovered. It also provides revenue-based financing where you can get a lump sum that you can pay back through a percentage of your sales.
- PayPal Working Capital
PayPal Working Capital Landing Page
Similar to what Shopify has done for its merchants, PayPal has also entered the financing space through PayPal Working Capital.
The program provides loans to its business account users. You can avail loans worth 25% of your previous year's sales through the platform. Still, the actual amount is based on your sales volume, account history, and previous working capital transactions.
It charges a flat fee and takes a percentage of each sale as loan repayment. However, it does require you to meet a minimum full payment every 90 days, depending on your loan amount. You must have a PayPal merchant account for 3 months and process $15,000 in the last year with no outstanding PayPal working capital loans to be eligible.