Etsy is a fantastic platform for selling online. It offers the business owner a great way to start trading small and scale up organically. It’s a marketplace ready and waiting for many businesses who specialise in producing their handmade crafts and arts and looking to sell online. It is one of the most powerful shopping communities online, and if you’re not on there, you should take a look here.
Etsy offers many ways to get paid via the Etsy Payments gateway. Merchant options such as Credit Cards, Debit and bank cards, Paypal, Apple Pay and Android pay to name a few. Etsy payment sellers receive funding via these channels directly into their bank accounts. It is indeed the main ‘out of the box’ platform to get a business trading quickly and easily.
Funding for Etsy business – growing your store
But what if the business is starting to grow and expand? If there is a need for cash flow to buy more stock and scale with your Etsy sales? You may like to take a look at a merchant cash advance product – quite possibly the perfect fit for sellers on Etsy who require funding to grow.
Sometimes you need straightforward business funding with no complicated loan repayment scheme. A merchant cash advance works with your business cash flow allowing you to only repay when you make sales. If your Etsy business has a few months of card transaction history and you are turning over £1,000 per month plus you could be eligible for this type of funding.
If for example, your business takes £2,500 per month on card sales with your customers you could qualify for a £2,500 cash advance. If your business makes £10,000 in card sales, you could be eligible for £10,000 in funding. The best part – you pay back less when your Etsy sales are low and quicker when Etsy sales are higher therefore taking pressure off your business which you may find goes handinhand with more traditional borrowing. Cash advances offer relaxed lending criteria – even businesses and individuals with a poor credit history can apply, and most cases receive the funding they need.
So whether you are expanding your T-shirt sales, contemporary gifts, jewellery store or many other unique storefronts, there is a great funding option to consider before taking the plunge with a traditional high street bank.