Why apply for business funding through Become?
Become provides a unique business funding solution for e-commerce (“online sellers”). At Become, we look at your business as a whole and include far more factors in the underwriting process than others. This is why we request access to your bank statements, ad account, and e-commerce platform. By linking these platforms, we can analyze the true value of your business. This is what makes our approval rates higher than others. Our goal is to help more previously overlooked businesses qualify for funding and get better terms.
Main benefits of choosing Become:
- Tailored dashboard helping you improve your fundability
- Easy online application
- Receive funds within days
- Get up to $100,000
- No charge to apply
- Higher approval rates
Why do I have to link my accounts?
Our application requires you to link your:
- Ad account (be Facebook or Google)
- E-commerce platform (e.g. Amazon, eBay, Woocomerce, etc.)
- Bank account
All lenders will require you to link your bank account, but at Become, we request that you link your platform and ad account as well. By doing this, we will be able to analyze the full potential of your company and may be able to offer you a business loan (where others would not) or better terms. We don’t believe that businesses should be judged purely on their revenue, but also by their efforts on their platform and with their ads. If we see you have potential (despite not having the “right” revenue) we may still be able to help you get funded.
Is my data safe?
At Become, we are proud to use bank encryption levels (AES 128-CBC encryption) to make sure your data is safe. Your platforms and bank account will be in “read-only” view - meaning, we do not have access to edit your account in any way, nor can we see your password or any other sensitive info in your account.
Does Become give out the e-commerce loan itself?
Become is a business loan marketplace and does not physically lend the funds. Our role is to open up more funding opportunities for our businesses and more specifically, with online sellers, our unique approach and underwriting model helps open up more opportunities. Through Become, you’ll be able to see whether or not your business qualifies for business funding - those that do will receive actual business loan offers from relevant partners. You won’t need to fill out another application.
How quick does it take to get an e-commerce loan?
Applying for a loan through Become takes just a few minutes. Our loan partners generally approve qualified loan applications quickly. You could get funded in as little as 3 hours. Please note that this time frame depends on the loan provider receiving all required documentation on time. If you need more urgent funding, please contact us and we will do our best to expedite the process for you. You can email us at: email@example.com
What are the loan terms and amounts for e-commerce loans?
Generally, the maximum loan you can get from our e-commerce lending partners is $100,000. The loans are either a line of credit (draw down when needed) or unsecured, meaning that you generally don’t have to tie up your business assets. Repayments are flexible and are largely based on your monthly turnover, and loan terms are from 3-6 months.