Online Seller Finance / E-commerce loan is the quick fix for all of your online business financial requirements. They have fast and an easy loan application procedure as it is compared to all the other business loans.
The maximum loan amount which any borrower can ask for as online seller finance is twice of the monthly sales whereas LoanRaahi offers the e-commerce funders loan up to 1 crore but all of this depends upon the monthly sales of your online business and the term of the loan is from 90-180 days. There are however many websites which provide online seller finance but we at Legal Raasta provide you with online seller finance easily and without any complications. Applying for a business loan through Legal Raasta provides the borrower certain advantages which are that there are No early settlement fees. The financial solutions are customised and flexible and also there is one more advantage that the line can be increased as your company grows. Some of the minimum requirements that are required to be fulfilled in order to get online seller finance are that the annual turnover should be Rs 25000/ Quarter, there must be some minimum credit score and the time in business must be at least 12 months.
The steps which would help the borrower to apply for getting online seller finance/e-commerce loan online through us are:
Before applying for online seller finance through legal raasta the borrower is supposed to check if he qualifies for the loan or not. A simple form in which details such as name, mobile number, e-mail, the type of loan, the loan amount and the loan tenure are to be filled to check the eligibility.
Thus in order to qualify for it, the business should be minimum registered and it must in operation for 6 months. Also, the fact that the business should be selling on any one of the Ecommerce platforms like Flipkart, Snapdeal & Amazon and also the sales volume per month should be approx. 2 lakhs. Once it is seen that the borrower qualifies the eligibility , our team would contact you and would further ask you about some details related to the business loan such as about the fact as to what is the annual turnover of the company , what is your credit score and for how much time has the business been in operation .
The borrower is then required to send some of the documents like 6 months bank statement, adhaar card/passport , PAN card and latest income tax return.
Legal Raasta coordinates with 30 + banks and NBFC’s in order to get the application for business loan approved.
We try to get you the best rates and normally the interest rate is 1% per month.
Once the loan is approved, the amount is credited to the borrower’s account.