WorldFirst have combined their seamless international payment and collection tools with fast, flexible and transparent access to working capital through their partner RITMO.
Small and medium-sized ecommerce businesses can apply for loans up to £3 million through WorldFirst’s designated partnership with RITMO at a discounted rate. On application, you’ll receive an offer in 24 hours and the funds are deposited into your account in just five business days.
Repayments are based on a small percentage of your sales income each month. If sales fluctuate or fall, the financing period is extended at no additional cost. Importantly, these are non-dilutive loans so you’re not giving up control of your business.
The loans are available to small and medium-sized ecommerce companies selling via online marketplaces such as Amazon and eBay, multi-platform sellers, aggregators and direct-to-customer native brands selling via their website and other digital channels.
To qualify for a loan, you’ll need to demonstrate year on year growth and have a turnover in excess of £200k. There is a quick calculator tool on WorldFirst’s website where you can find out the loan value you could be approved for.
The UK has the most advanced e-commerce market in Europe, but the growth prospects of these businesses are hampered by complex international banking and payment arrangements and difficulty when sourcing the working capital they need to fund their expansion.
The launch of our Growth Package addresses a crucial market need and supports our customers’ global growth ambitions by enabling quick and efficient access to working capital. By working with partners that complement our existing offering, we are delivering our mission to provide a one-stop solution for digital payments and financial services to small and medium-sized business trading internationally.– Jeff Parker, CEO, WorldFirst
We are very excited to partner with WorldFirst and contribute towards the launch of this Growth Package. This will enable online and e-commerce sellers in the UK to improve their operations and scale their businesses through the combined value proposition of fair and easy access to working capital, international payments and FX.– Raimundo Burguera, Co-Founder and CEO, RITMO