iwoca have announced a new partnership with Linnworks to make it easier for online retailers to access short term working capital to invest in their businesses.
eBay sellers can already apply for a loan from iwoca and by linking their accounts their trading history on eBay can be taken into account when they are assessed for a loan. This means that iwoca often are willing to extend finance where traditional finance companies wouldn’t. Instead of just some numbers and a credit score iwoca use your eBay sales history and feedback record to supplement more traditional methods of credit scoring.
Linnworks integrates 30 online marketplaces. Online sellers who use the Linnworks order management system can now leverage their transaction data from all marketplaces and even their own website when applying for a working capital loan from iwoca. Based on trading data from Linnworks, we can make a precise assessment of their multi-channel revenues enabling sellers to get an instant estimate of how much working capital they are eligible for.
Linnworks Product Manager Artem told us “We are delighted to provide clients with a highly innovative service in cooperation with iwoca. This highlights a problem facing many online retailers, and in particular small and medium sized businesses, that access to instant working capital is a constraint to their expansion. This partnership should help to solve this problem“.
If you’re interested in accessing finance for your business and want a company who will consider your trading history to assess your credit you can sign up on the iwoca website to find out what size loan you’re eligible to take out.
If you are interested in a multichannel management software and stock control system for eBay, Amazon, Play.com, Pixmania, Magento and all major website carts you can find out more on the Linnworks website. Cost vary according to your requirements but there are no commission or transaction costs – just a simple monthly charge, although they also have a totally free version.
