One of the most dynamic of modern retail industries is the rapidly growing field of online sales. If you’re a new entrepreneur, you may want to get in on this phenomenon. If you already have an e-commerce business, you may need funding for additional marketing, website improvement, diversifying your range of available products, adding more personnel, or creating a physical store presence.

Here are some business financing options available to you to help you meet your goals.

Term Loans

Term loans work well for companies with a year or more of operating experience. Be sure to have a comprehensive business plan ready to show the lender. These loans can cover both the short and long-term needs of your business. The limits are high, the interest rates are reasonable, and the terms for repayment are generally flexible enough to fit your situation. If you apply for a term loan from an online lender, you can have an answer within a few business days.

Merchant Cash Advance

If you don’t qualify for a term loan, you can use a merchant cash advance as business financing. This form of funding allows you to borrow against upcoming credit and debit card sales. You don’t need a high business credit score to qualify, but you need a steady stream of sales via debit and credit cards. After you apply and are approved, funding is swift.

Accounts Receivable Financing

If your e-commerce business has delayed payment options of 15, 30, or 60 days, accounts receivable financing helps to stabilize your cash flow. You receive an advance of up to 90 percent of the value of unpaid invoices, and then you get the balance minus the factoring fee when your customers pay their bills. This allows you to avoid the cash flow slump due to late-paying clients.

For more advice on e-commerce business financing, get in touch with 5 Star Funding Group.