Sendy is providing inventory financing to social commerce sellers. This short-term bullet loan is designed to help businesses manage their cash flows and access working capital to purchase inventory and improve sales.
Who is eligible?
To be eligible for Sendy's inventory financing, sellers must be actively trading through Sendy’s fulfillment platform for at least the past two months and have some inventory in the fulfillment centers. Additionally, sellers need to provide the contact details of company signatories and their KYC details, including their Business Registration Certificate/Business Permit, KRA PIN, and copy of ID during the loan application process.
Social commerce sellers, including those who sell products through social media platforms and online marketplaces, are eligible for financing.
What is the loan amount?
The loan amount will vary depending on the inventory value of the sellers in Sendy’s fulfillment centers and their monthly transactions. However, the minimum and maximum amount offered to a first-time customer is KES 5000 and KES 50,000, respectively. The loan needs to be repaid along with the associated fees within 28 days of disbursement.
Are there any fees associated with the financing?
The fee is only 4% of the loan amount, which is charged when the loan is disbursed. If the loan is not paid within 28 days, there are penalties for late repayment.
Are there sellers who have benefited?
Sendy's inventory financing has helped a number of growing companies since it started xxx months ago . Customers have provided positive feedback about the service, noting its impact on their growth and satisfaction with the interest rates and time given.
How to apply
The process for applying for inventory financing involves submitting an application with contact details and uploading required documents through this link. Once the documents are verified, the amount is disbursed, and the customer signs a contract provided over email. Verification can take up to 24 hours.
Sendy's inventory financing seeks to provide social commerce sellers with access to working capital to manage their cash flows, purchase inventory, and improve sales. Its eligibility criteria, loan amount, repayment terms, and fees provide transparency and ease of use for businesses looking to grow and expand their operations.
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