Secured financing of up to $3 million for e-commerce businesses.

CircleUp is designed to give new e-commerce businesses access to funding. Its secured lines of credit make it easy for fledgling enterprises to qualify for funding based on your business assets, including receivables, purchase orders and inventory. While it’s generally less expensive than a credit card, there are other more affordable financing options out there.

$20,000

Min. Amount

$3,000,000

Max. Amount

Details

Product Name CircleUp
Min. Amount $20,000
Max. Amount $3,000,000
APR 14% to 25%
Requirements E-commerce consumer product company, in business 1+ year, $250,000 to $10 million in revenue, based in US with mostly domestic sales

Application Criteria

  • E-commerce business
  • In business at least one year
  • $250,000 to $10 million in revenue
  • Sell consumer products — either wholesale or directly to consumers
  • Based in US with mostly domestic sales

First, do I qualify?

You must meet the following criteria to qualify with CircleUp:

  • E-commerce business
  • In business at least one year
  • $250,000 to $10 million in revenue
  • Sell consumer products — either wholesale or directly to consumers
  • Based in US with mostly domestic sales

Have revenue outside of this range? Your business still might qualify for funding as long as you can meet the other requirements.

What makes a CircleUp line of credit unique?

CircleUp specializes in meeting the needs of a specific type of business: early-stage companies that sell consumer products. While you can’t be brand new — you’re required to have been in business at least one year— a CircleUp line of credit offers continuous funding meant to help grow your company. Since CircleUp also provides equity capital, you may be able to combine your line of credit with an investment, lowering the amount you have to repay.

What is a CircleUp line of credit?

A CircleUp line of credit is a secured revolving line of credit with APRs that run from 14% to 25%. Depending on your type of business, you can use receivables from consumers or other businesses, purchase orders and inventory as collateral, along with any other assets. You can typically borrow between 60% and 80% of your collateral’s value, usually from $20,000 to $3,000,000.

What are the benefits of a CircleUp line of credit?

A few perks of borrowing from CircleUp include:

  • Specializes in early-stage businesses. Many business lenders prefer working with more established companies. But CircleUp specializes in helping young businesses grow.
  • Potentially less expensive than a credit card. Credit card APRs typically run higher than the APRs on this line of credit.
  • No penalty to leave. You can cancel your line of credit without paying a fee at any time.

What to watch out for

Consider these potential drawbacks before taking out a CircleUp line of credit:

  • No startups. Your business must be around for at least a year to qualify.
  • Limited industries. If your business doesn’t sell consumer products online, it can’t qualify.
  • High cost for a credit line. While it might be cheaper than a credit card, CircleUp’s rates aren’t as low as other similar products.
  • Not the fastest turnaround. It can take a few business days for CircleUp to fund your loan after receiving your application. Many online lenders offer funding by the next business day.

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