How can an eCommerce business qualify for the loan?

Here are some key ways an eCommerce business can qualify for a loan:

• Have a minimum of 1 year in business operations: Financial institutions prefer established businesses with proven financial track records.
• Provide business documentation: Registration papers, tax returns, bank statements, etc. to help establish legitimacy.
• Show strong online sales revenue: Loans are mainly underwritten based on marketplace sales or website transaction volumes.
• Have good credit score and repayment history: Personal and business credit profiles typically influence loan eligibility and terms.
• Provide online analytics: Sales, traffic, and conversion metrics make it easy to assess business health.
• Pledge assets or collateral: Though not mandatory, assets or security/collateral help get better loan terms from lending institutions.
• Show clear loan purpose and repayment plan: A solid business case and cashflow visibility can help.
• Maintain accurate financial records: Up-to-date bookkeeping shows financial discipline.
• Stay compliant with regulations: Necessary licences , permits, etc., validate regulatory compliance.