Onramp Funds
Revolutionizing Lending For Ecommerce Businesses

Easy access to working capital is critical for small and medium-sized eCommerce businesses to grow in today’s uncertain economic environment. Securing a loan or cash advance can be a daunting task for SMBs, and those who are unable to qualify with traditional banks are left cash-strapped with limited options to fund their growth. If an eCommerce business is lucky enough to qualify for a loan, the payment plans can be unsustainable, which is compounded by long-winded loan processes and high-interest rates. Luckily, Onramp Funds saw the problem and created a solution to help eCommerce businesses.

Onramp Funds, with its team of eCommerce experts, follows a tailored and convenient approach to helping online merchants secure working capital and solve the crucial cash conversion cycle challenge.

Eric Youngstrom, CEO and Founder of Onramp, says, “Most lending services in the market are built for traditional retail and don’t really reflect the unique needs of eCommerce. We’ve built a solution that is uniquely tailored to the eCommerce industry.”

By connecting directly to a business’s online store, such as Shopify, Amazon, WooCommerce, Squarespace or BigCommerce, Onramp streamlines their loan approval process. It syncs with a business’s store via a read-only API, gathering real-time data, such as order data, sales data, fulfillment data, and inventory data. All this information is digested and used to create a credit line for the business to understand if they are eligible for financing and what their borrowing power is. In a few hours, the business can get qualified for a loan and get funds the same day.

“It’s absolutely imperative that we not interfere with the order data flowing through your online shopping cart and the marketplaces our customers work with. We’re only seeing what’s happening and not trying to change or influence what’s happening. We’re simply viewing the real-time sales performance of a business,” Youngstrom notes.

To determine a client’s offer, Onramp only looks at sales history, not personal credit. The company can increase the capital available to businesses based on their sales performance and demand and not just the credit.

For Onramp, the speed of onboarding and qualification for loans is not their most revolutionary aspect; it is the repayment plan. Onramp Funds lets clients pay back when their inventory sells.

With each item the business sells, Onramp Funds gets a nominal fee, which is usually 50 percent less than traditional funding tools.

In one instance, Onramp helped a client that had run out of capital triple their yearly revenue from $2 million to $6 million. This client could not get a credit line from the bank because they required personal credit. This assessment didn’t reflect the true capability of the business despite its high sales velocity. Essentially, working capital constraints were stopping the business from meeting the growing market demands. Onramp stepped in and provided enough credit for the business to get additional inventory for the next quarter based on sales demand. Onramp provided enough capital to drive Pay-Per-Click advertising to help their Shopify store, thus making sure that the capital injected into the business was optimized.

Driven by a need to disrupt lending for the eCommerce industry, Onramp Funds is rapidly growing. With top-notch customer experience, a streamlined lending process, adaptive payment methods, and a team that has been building software solutions to solve problems for small and medium businesses in the E-commerce space for four decades, Onramp stands out among competitors. What Onramp offers is more than just cash; it’s a set of tools to help merchants in the eCommerce industry grow.