Everything you need to know about SellersFi.
If you want to verify the connected bank account to your SellersFi account, you can follow these steps:
1. Log in to your account. On the left side navigation bar, select “Manage Company” then “Bank Account”.
2. Select the bank account you’d like to view, and review the details.
What is Plaid?
Plaid is a system that allows us to safely integrate bank accounts from different institutions into our platform.
Once you’re logged in to your SellersFi account, you’ll be able to see our full offering of financial products.
Select the product you’d like and click “Apply Now”. From there, our system will walk you through the application process.
SellersFi is a global financial technology company that empowers e-commerce merchants looking to grow. We offer strategic solutions that make scaling easier and faster. From inventory and marketing to product launches, international expansion, and more, thousands of e-commerce sellers trust SellersFi to achieve limitless success.
SellersFi was created specifically to service e-commerce sellers. We provide fast, flexible, and affordable forms of funding for businesses at any stage. Our team knows the struggles you face in your business because we’ve been there. Work with SellersFi because you’ll have a partner in your corner, not just a card in your wallet.
It’s easy to add and manage multiple companies within your SellersFi account.
Add a Company
From your SellersFi dashboard, click “Change Company” in the top menu bar.
Click “Add Company” to connect a company that you own that you’d like to consider for funding.
Follow the steps on the screen as you did with the initial company.
Manage a Company
From your SellersFi dashboard, click “Change Company” in the top menu bar. Click “Manage” under the company you wish to adjust.
Here at SellersFi, our focus is to help your e-commerce business grow. Our company is designed to support e-commerce businesses and all of the challenges you face. No matter your business model or size, we have a financial solution for you to help get you to the next level.
When you work with SellersFi, you’ll have a dedicated Account Manager who is there for you every step of the way.
Additionally, there are no business restrictions on how you use your funds. Use your money your way.
If you have any questions before getting started, contact customerservice@sellersfi.com.
The terms associated with our products will vary from product to product. However, you can expect terms anywhere from 3 to 24 months. Some customers are also able to get an interest-only period as well.
SellersFi offers the ability to have and manage multiple different types of users in your account. This is helpful if you have multiple business partners or owners or team members who will need access to the account, so you don’t have to share a single log in (AKA better security).
User Roles
– Admin: Full access to the account.
– Super Manager: Full access to the account, but cannot manage other users (only view access of other users).
– Manager: Can manage products and applications. Cannot manage other users or manage General Business Information. Cannot see sensitive data.
– Viewer: Can only view the information inside the account with no editing capabilities. Unable to see any sensitive data.
Assigning User Roles
Once you log in to your SellersFi account, click on your company name on the left sidebar.
From there, you’ll want to “Manage Company”. You can add a new user (following the on-screen instructions) or manage existing users (pending you have the right permissions).
Permissions Table
Admin | Super Manager | Manager | Viewer | ||
General Information | |||||
Company Information | Edit | x | x | ||
Sensitive Data | x | x | |||
View | x | x | x | x | |
Bank Account Information | Add | x | x | ||
Edit | x | x | |||
View | x | x | x | x | |
MarketPlace Information | Add | x | x | ||
Sensitive Data | x | x | |||
View | x | x | x | x | |
Owner Information | Add | x | x | ||
Edit | x | x | |||
Sensitive Data | x | x | |||
View | x | x | x | x | |
Users | Add | x | |||
Edit | x | ||||
View | x | x | x | x | |
Application | |||||
Working Capital | Apply Now | x | x | x | |
Accept Proposal | x | x | x | ||
Draws | x | x | x | ||
Details Information | x | x | x | x | |
Agreement | x | x | x | ||
View Schedule | x | x | x | x | |
Daily Advance | Apply Now | x | x | x | |
Accept Proposal | x | x | x | ||
Details Information | x | x | x | x | |
Agreement | x | x | x | ||
The availability of our products does vary product to product, but a general overview has been included here. If you have any questions about your eligibility for any of our products, please contact customerservice@sellersfi.com.
Working Capital
– Available to entities based in the US, UK, Canada (Excluding Quebec), or Australia (selling in USD).
Note: You may be eligible if you live abroad so long as your business entity is registered in one of these countries.
– You must have been selling for a minimum of 6 months and have at least $20,000 (or equivalent) in net sales for the last three months. Your business must also be considered in good standing.
Note: When applying for a Working Capital loan, we will consolidate your sales across all platforms to evaluate your qualifications. Thus, if you’re selling in multiple places, be sure to connect all of your stores for a larger potential loan amount.
Daily Payout
– Available to entities based in the US, Canada (Excluding Quebec), or Australia (selling in USD).
– Available to sellers in the US, Canada, UK, and greater EU.
Prohibited Jurisdictions
We take our regulatory responsibilities very seriously. In line with our anti-money laundering policy and sanction screening requirements, we cannot receive funds from or send money to the following countries, although this may be subject to change.
Crimea | Libya | South Sudan |
Cuba | Luhansk People’s Republic (contested region of Ukraine)** | Sudan |
Donetsk People’s Republic (contested region of Ukraine)** | Myanmar * | Syria |
Iran | North Korea | Venezuela |
Russia | Belarus |
* Myanmar – Due to the current military coup in Myanmar, all banks onshore have been instructed by the Myanmar Banks Association to remain closed. As the banking system is now offline, our banking provider is unable to process any payments to Myanmar until further notice
** Luhansk People’s Republic and Donetsk People’s Republic (contested regions of Ukraine) – This includes any banks, entities, and individuals located in these regions.
Effective 03/04/22, SellersFunding is no longer processing any transactions involving the banks or regions listed below.
Banks (including subsidiaries):
VTB Bank
Otkritie Bank
VEB Bank
Novikombank
Promsvyazbank
Rossiya Bank
Sovcombank
As a result, any transactions involving the above, or any other sanctions targets, will be blocked on our system and funds may be frozen. This list is not exhaustive and will be updated as new developments occur.
There are a couple of ways you can retrieve your Amazon Seller ID/Merchant ID/Merchant Token.
Option 1. Click HERE. This link will redirect you to your Seller Central account to log in. Once you log in, the next screen will be your Amazon ID.
Option 2. If you’d prefer to navigate your way through Seller Central, start by logging in. Click “Settings” in the upper right-hand corner, then “Account Info”. Under “Business Information” you’ll be able to click through to your “Merchant Token”.
We take great pride in providing great customer service to our clients. You can certainly view our reviews on TrustPilot.
Additionally, we do have case studies with some of our clients available on our website.
You may wish to update some of your business’s public information, visible on your Seller Profile Page (such as name or address). Log into Seller Central and navigate to “Settings” (in the upper right-hand corner). Then, proceed to “Account Info”. Under “Business Information” you have the option of “Legal Entity”. Update the desired information.
Your Authorization Token may have been accidentally disconnected or expired. It’s simple to update it within SellersFi.
(We need this authorization for Payouts information, as well as sales information should you qualify for more funding.)
From your SellersFi dashboard, click “Manage Company” in the left-hand sidebar. If the token has been revoked, you’ll see a red down arrow icon and an “Edit” button to the right. Click “Edit” and add the new Authorization Token. Once you click “Verify,” you’ll be prompted to accept our Terms of Use.
If your time working with SellersFi has come to an end and you’d like to revoke developer access, you can do so within your Seller Central account. Once you’re logged in, click on the Appstore menu, then “Manage Your Apps”. There is an “Actions” column where you can click “Revoke”.
If you have any questions regarding your account, please contact customerservice@sellersfi.com.
Everything you need to know about applying for SellersFi's products.
Once you’ve successfully registered, simply select the card on your SellersFi dashboard of the product for which you’d like to apply.
You’ll be asked for some additional information in order for us to process your application. Once approved, funds can be disbursed in as little as 48 hours!
For applicants, we look for a minimum of six months of sales history on an e-commerce platform and upwards of $20,000 in monthly net sales. Additionally, your entity needs to be legally registered in the US or Canada, and be in good standing.
You’ll need your last three bank statements and a voided check. If you don’t have a voided check, a letter from your bank confirming your account will suffice.
We only perform soft inquiry for pre-qualification purposes only; this one won’t affect your personal credit score.
There is no minimum score required, our analysis is based on a combination of the owner’s score and the company’s performance.
We only perform soft inquiry for pre-qualification purposes only; this one won’t affect your personal credit score.
It is most likely that your application is still being reviewed. You can check the status of your application at any time by logging in to your account. If you have any questions along the way, please reach out to us at customerservice@sellersfi.com or call (929) 229-2252.
Generally, you can expect to receive the funds within 2-4 days of signing your agreement.
Certainly! At SellersFi, we work with a variety of business models and can find a solution that’s the best fit for you and your business.
Certainly! At SellersFi, we work with a variety of business models and can find a solution that’s the best fit for you and your business.
You certainly could still qualify! We review the performance of your company overall, and an outstanding loan (from anywhere) does not automatically disqualify you.
Absolutely! You are able to reapply whenever you’d like. However, we do recommend reapplying in 3-6 months, or if you see your sales start to consistently pick up. You can also reach out to your Account Manager at any time if you’d like to see if your approval chances have improved.
We usually require three reports: Business Report, Inventory Report and Payments Settlement Reports while you are completing your application.
In some cases, we need more information. If it applies to your case, we will let you know.
Any questions, let us know at customerservice@sellersfi.com or call (929)229-2252.
Below you will find a summary of all the reports you will need to complete your application with us:
Inventory Report – https://sellersfundinghelp.zendesk.com/hc/en-us/articles/360004309171
Business Report – https://sellersfundinghelp.zendesk.com/hc/en-us/articles/360004309931
Payment Settlement Report – https://sellersfundinghelp.zendesk.com/hc/en-us/articles/360004309951
Any questions, let us know at customerservice@sellersfi.com or call (929)229-2252.
Dear Seller:
In this document, we provide a step-by-step Guide to get the Amazon Reports (below) needed and complete your application.
Note: If some of the Reports are not applicable to your account (for example Amazon Fulfilled Inventory if you are a FBM Sellers) you don’t need to upload it to your application.
A. Inventory Report– please provide us a downloaded file of your latest Inventory Report.
Step 1 – Log in to your seller central account.
Step 2 – Click on the Reports Tab and then > Inventory Reports.
Report 1 – Inventory Report
Report 2 – Active Listings Report
Report 3 – Amazon Fulfilled Report
DOWNLOAD the three files to your computer by clicking on the download button:
UPLOAD them on the Online Application Form, as requested on your application instructions.
Any questions, let us know at customerservice@sellersfi.com or call (929)229-2252.
In this document, we provide a Step-by-Step Guide to get the Amazon Reports (below) needed and complete your application.
Step 1 – Log in to your seller central account:
Step 2 – Click on the Reports tab and then on Business Reports:
Step 3 – Click on Sales and Trafic, select the Zoom to be 1Y and View to be By Month and click download the CSV file.
This is the file you need to send us to complete your Sales and Order Report requirement.
In this document, we provide a Step-by-Step Guide to get the Amazon Reports (below) needed and complete your application.
Step 1 – Log in to your seller central account:
Step 2 – Click on the Reports tab and then on Payments:
Step 3 – Click on the Generate Report Button and select the Summary Option. Then choose the Date Range to be 180 days before YESTERDAY’S date.
Click Generate and wait for the file to be generated on Column Action. Click on the Download button.
Please note, DO NOT SELECT TODAY’S DATE AS THE END OF THE RANGE. INSTEAD, SELECT YESTERDAY’S DATE (ONE DAY BEFORE TODAY).
IF YOU SELECT TODAY’S DATE THE REPORT WILL TAKE HOURS TO DOWNLOAD. IF YOU SELECT YESTERDAY IT WILL TAKE JUST A FEW MINUTES.
Step 4 – A PDF document will be generated and downloaded.
This is the file we need you to send to complete your Payment Settlement Report Requirement.
During Application:
1) Click on the Amazon button to add your store:
2) Once clicked there, you must click on the button of the region of your store to then go to the Amazon connection page.
3) The seller will be redirected to login in his Amazon account.
4) The OTP number will be required by Amazon to complete the login.
5) Once logged in, the seller must authorize SellersFi to access the following information. All the seller needs to do is click on the checkbox at the bottom of the page and then click on the Confirm button.
6) Once confirmed, Amazon takes a few seconds to redirect the user back to the SellersFi portal.
7) Once Amazon redirects the user to the SellersFi portal, the connection confirmation appears in the connection page. This page shows the Seller ID and the MWS Auth Token automatically retrieved from Amazon. On this page, the user needs to check the checkbox and confirm. Once it’s done, the store is successfully connected.
7) Once confirmed, the Seller ID will appear on the next screen in green.
Everything you need to know about Working Capital from SellersFi.
Working Capital is one of the most common forms of funding for businesses and is our most popular product line at SellersFi. It’s larger sums of money to be used over time or for large purchases (though, with SellersFi, you have no restrictions on business-use cases for your funds).
Credit Limit
SellersFi’s Credit Limit is great for businesses with anticipated but variable expenses. Once you apply, you will be approved for a particular limit of money (as low as $5,000 all the way up to $5,000,000 or more depending on your business). You can draw as much or as little of that limit as you’d like. Each draw is treated as its own term loan, with its own rates and terms (from 3 to 24 months). You can select your terms. In certain circumstances, you can also have an interest-only period (generally up to 6 months). Rates are variable, anywhere from 14.99% to 24.99% APR (dependent on a variety of factors).
For questions about these products or what might be the best fit for your business, contact your Account Manager or email our team at customerservice@sellersfi.com.
Our Credit Limit product is a more traditional APR product, with rates ranging from 14.99% to 24.99% APR. Our Revenue Advance product has rates as low as 1%.
For both products, rates will be dependent on the performance of the company, owner information, and analytical models. Applicants have the right to review, reject, or even potentially negotiate rates and terms to best fit their business.
Our Credit Limit product is available in USD, CAD, EUR, or GBP. The minimum size of Credit Limits are:
– $20,000 (USD & CAD)
– £25,000
You can check your outstanding Working Capital balance at any time. Simply log into your account and navigate to “Working Capital” from your dashboard. Select the Reference Number of the loan you’d like to check. You’ll be able to see the “Current Balance” on the line item details.
Interest Only payments are not available to every client or even on every loan. If the offer is available when you are setting up your draw, you can have 1-3 months of interest-only payments. This helps decrease the payment amount at the beginning of your loan, keeping more cash in hand for when you need it.
Absolutely! If your store is doing well and you’ve established a positive payment history with SellersFi, it is possible that you can lower your rate.
Simply connect with your Account Manager or reach out to our team at customerservice@sellersfi.com and we can help!
Once you have applied and been approved for a Credit Limit, that available limit will be visible in your SellersFi dashboard.
1. Once you’re logged in, navigate to “Working Capital” in the left sidebar.
2. Scroll the term bar to select your choice.
3. Select the amount of funding you wish to draw.
4. View your repayment schedule.
Keep in mind that this is not locked as you’re selecting terms and amounts. You can adjust to ensure you get a payment schedule, rates, and terms that work for your business*. Once you’re pleased, you’ll submit the withdrawal.
If you do not draw the full available amount, you can continue to return to your account for additional draws down the line. Each will be treated as its own loan, with your selected term and rate and repayment. These funds are generally available in 1-2 business days.
*Note: Some clients may be eligible for Interest-Only terms, ranging from 1-6 months.
We do have a minimum for each Credit Limit draw, based on the currency in which you are drawing.
USD: $5,000
GBP: £25,000
EUR: €25,000
CAD: C$ 5,000
*Note: The initial drawn-down amount should be 25,000 and subsequent transactions may be a minimum of 5,000.
In short, yes, your available Credit Limit can change. We will review your limit on a monthly basis. If your business is growing, we may extend a larger Credit Limit to you. On the other hand, if your sales performance is decreasing or you’ve potentially taken on additional debt, we may decrease your limit (as a level of protection so you don’t take on more debt than you can manage).
Funds from your draw will be deposited into your connected business bank account. It can take 2-4 days to receive your funds once the agreement has been signed.
How do I make payments on my Credit Limit draws?
Making payments is so easy, it’s automatic. Your payments are made in conjunction with your marketplace payouts. Our system will automatically withdraw (via ACH Debit) the agreed upon payment once that payout has been made to you. Should you wish to pay more (or pay off) a particular draw early, we ask that you contact your Account Manager or reach out to our team at customerservice@sellersfi.com.
What are my payment dates?
Your agreement will have all of the details for payments, including specific payment dates, principal amounts, and interest payments.
What if I miss a payment?
We highly encourage you to reach out to your Account Manager or our team if you fear you’ll miss a payment. This will help you avoid late fees, and allow our team to work with you on how to best move forward. We understand that things happen and we’re here to help.
What if I miss two (or more) payments?
Due to our agreement, any account that has missed two or more payments will be sent to a Collections Agency. Additionally, it will be reported on the loan-holder’s credit and result in higher late fees.
Please remember that we’re here to help! If you’re experiencing financial difficulties or need to revisit your loan terms, get in touch with our team.
Generally, there is a prepayment fee if you are paying your loan off before the first 90 days of your term has elapsed. If the 90 days have elapsed, there is no prepayment fee.
If you’re interested in paying your loan off early, you’ll need to connect with your Account Manager or reach out to our team at customerservice@sellersfi.com. Our system will calculate the payoff according to your agreement. Keep in mind that interest is only accrued until the day of your early payment and NOT for the originally selected term.
The application process for our Credit Limit product is simple and can be completed in just a few minutes!
1. Either register for an account or log in to your existing account.
2. On the dashboard of all of the products available, select “Working Capital”.
3. Follow the steps on the screen to apply for your Credit Limit.
From there, our team will review your application and return with an applicable proposal ASAP. If you have any questions, don’t hesitate to get in touch with our team at customerservice@sellersfi.com.
There are a few things we will ask for as part of your Working Capital application.
– Connect your store. We do look at your sales volume and history, so you will need to connect at least one store to our system. The more stores you connect, the greater your chance of being approved for a larger Credit Limit as we’ll look at your sales holistically. We are also looking for at least 6 months of sales history on at least ONE connected marketplace, and an average of at least $20,000 in net sales per month (can be across all connected marketplaces) in the last three months.
– Certificate of Incorporation/Articles of Organization: You must have a registered entity in the US, UK, or Canada.
– For each owner controlling 25% or more of the company: Proof of Identity and Proof of Address (Ex. Utility bills, etc.)
– Business Bank Account: We will also ask for the last 3 bank statements where you receive your marketplace payouts, as well as a voided check. Should you not have a voided check, a Bank Letter should be sufficient.
What documentation will be accepted for POI and POA?
For Proof of Identity, you may submit a valid driver’s license or passport. Clearly document the front and back in two separate documents in full color, capturing all four corners with no glare. Accepted file types are .jpeg or .jpg, and can be a photo taken from a cell phone.
For your Proof of Address, this may be a recent (within the last 90 days) utility bill (gas, electric, landline phone, or water), credit card statement, or personal bank statement from a local bank or global bank with physical branches. We cannot accept screenshots of bills, and the document must show the full page of the bill with the address and services (but not necessarily all pages of the bill).
You are eligible to apply for a new loan once you have paid down 50% of your original outstanding balance. We’ll be able to review your new application and offer a proposal.
Every business is different, so it’s difficult to say in an open forum why you may have been declined for a Credit Limit. Please reach out to our team directly by emailing customerservice@sellersfi.com.
However, there are some more common reasons you may not have been approved:
– Minimum net sales or sales history not met
– Tenuous financial status (Higher amount of debt, inconsistent sales, etc.)
– Business location or registered entity outside of SellersFi’s scope of service
– Business type currently not supported
If your application was not approved, we generally recommend that you wait anywhere from 3-6 months before reapplying.
At a glance, a Credit Limit may look very similar to a credit card. However, there are a few key differences that make a Credit Limit more attractive to businesses truly looking to scale.
Credit cards are generally for everyday, run of the mill purchases (internet, supplies, subscriptions, etc.), whereas a Credit Limit is helpful for larger purchases (inventory, warehouse space, etc.). Credit cards often have rock-bottom monthly payments, which makes it easier to accrue interest over time and build up a debt balance. Higher credit utilization can affect your credit, making you less attractive to lenders (or even landlords or employers in some industries).
A Credit Limit is based on your sales performance and company’s credit history (not necessarily a specific person). Payments will go toward building your business credit, establishing you for future lenders and opportunities.
For more details, check out the table below of a side-by-side comparison between the two options. Credit cards are a great option for newer or smaller businesses. However, it is likely that you will reach a point where you need more capital on hand to reach your brand’s goals.
Below is a table highlighting some differences between each type of credit
| Line of Credit | Credit Card |
Intended Use | Special big-ticket business expenses (for example inventory purchases). | Everyday consumer & business spending. |
Limit | Defined by Sales Performance | Subject to owner’s credit score |
Secured by Collateral? | Receivables | Personal Guarantees |
Credit Building Impact | Reported monthly to credit bureaus | Reported monthly to credit bureaus |
Available Funding | Up to $1M | Personal: $300 – $25K Business: $1,000 – $50K |
Average APR |
|
|
0% Introductory APR | No | 0% for 6-24 months is common for people with excellent credit. |
Annual Fees | NA | Range: $0 – $500 |
Rewards | NA | Yes, 1% cash back on average |
Cash Advance Fee | NA | $13.05 |
Grace Period | Up to 90 days | 20 – 30 days after bill is made available |
You can easily access your statements and balance inside your SellersFi account. Simply navigate to the “Working Capital” section through the left sidebar.
Select the “Reference Number” of the loan you’d like to review. The screen will display your current payment schedule and current balance.
If you have any questions about your loans or your account, please reach out to us at customerservice@sellersfi.com.
You received a copy of your agreement via email when it was completed on DocuSign. If you are having trouble finding it, please contact us at customerservice@sellersfi.com, and we will send a copy of your agreement.
If you wish to change the bank account to which you receive your Amazon Payouts (and, thus, pay your outstanding balance with SellersFi), please contact customerservice@sellersfi.com.
Once you’ve confirmed with us that you’re changing the account, you will need to do so in Amazon. Please provide a screenshot of the account added to your Amazon account, a voided check from the account, and a bank statement from the account as well. If the account is new, we simply ask for a bank letter confirming the account belongs to the same account with which our agreement resides.
Should you change your account in Amazon without connecting with SellersFi, you do run the risk of your account going into default as we wouldn’t be able to process payments on your account.
Yes. We file UCC’s for all our Working Capital products.
Yes, due to the nature of some of our products, there will be a registered debenture.
Everything you need to know about CommercePay from SellersFi.
Commerce Pay is flexible funding with payment terms based on your company’s revenue. You will receive a lump sum of money and, in return, agree to pay us a percentage of your marketplace transfers until the total amount, plus a fee, is repaid.
This means your repayments are directly tied to your company’s income, making it a flexible and often more accessible way to access funding.
Example Proposal for illustration purposes only:
Purchase Price (Advance Amount): $ 100,000
Advance Fee Rate: 6%
Advance Fee Amount: $ 6,000
Origination Fee Rate: 1%
Origination Fee Amount: $ 1,000
Total Transaction: $ 106,000
Disbursement Amount: $ 99,000
Percentage of Marketplace Transfers: 20%
Purchase Price (Advance Amount): This is the total amount of future receipts we are purchasing from you. It is also the amount used to calculate your fees and repayment terms.
Advance Fee Rate: The fee we charge for using Commerce Pay, displayed as a percentage.
Advance Fee Amount: The dollar value of the Advance Fee, based on the Advance Fee Rate.
Origination Fee Rate: This is a one-time fee, shown as a percentage of your Advance Amount, charged for setting up your funding agreement. It covers the cost of evaluating your application, preparing your advance, and processing the disbursement.
Origination Fee Amount: The dollar value of the Origination Fee, based on the Origination Fee Rate. It is deducted from the Advance Amount at the time of funding.
Total Transaction: The total amount to be repaid by you.
Disbursement Amount: This is the net amount deposited into your designated business bank account at the time of funding. It is calculated as the Purchase Price minus the Origination Fee.
Percentage of Marketplace Transfers: You will pay us 20% of each marketplace transfer you receive until the Total Transaction is repaid. We identify deposits from all Marketplace platforms that are connected to your collection account and collect the agreed percentage from those payouts.
If you have any further questions, please reach out to us at customerservice@sellersfi.com.
The Advance Fee rate typically ranges from 6% to 30%, but can fall outside this range at our discretion.
If you have any further questions, please reach out to us at customerservice@sellersfi.com
The Marketplace Transfers rates typically vary from 20% to 25% but can fall outside this range in our discretion.
If you have any further questions, please reach out to us at customerservice@sellersfi.com.
Commerce Pay is available exclusively in USD.
We review the credit reports of company owners and/or shareholders as part of our underwriting process. For all first-time clients and inactive clients with new applications, a soft pull is necessary.
SellersFi may also conduct a monthly soft pull for active clients.
You will receive an emailed copy of the signed agreement from DocuSign.com.
If you are having trouble locating the agreement, please contact us at customerservice@sellersfi.com
You can view the details of your Commerce Pay balance on the SellersFi app, under the Commerce Pay information page.
On the “Commerce Pay History” table, find the transaction you wish to review. Click on the “Reference Number” or on the arrow to the right of the transaction. The SellersFi app will display the payment schedule and your current balance.
Should you have additional questions, please contact us at customerservice@sellersfi.com
A Plaid connection is mandatory. You will also be required to provide a void check or letter from your bank confirming your account.
To ensure a smooth approval process for your Commerce Pay, we require the following financial information:
If you do not currently possess these documents, you can still proceed with your application and upload them at a later date. (Please note, we cannot begin our review of your application until we have received all necessary documents and information).
Providing this information facilitates our credit analysis process, enabling SellersFi to determine a more precise proposal tailored to your unique profile.
Should you require any assistance or have questions, please don’t hesitate to contact us at customerservice@sellersfi.com.
The following documents and information are required for approval of a Commerce Pay (please note that we may ask for additional information if needed).
If you have any questions along the way, please reach out to us at customerservice@sellersfi.com.
Once you complete the application process, we will begin our review. The SellersFi team will be in touch with your approval status within 1 to 3 business days of receipt of all necessary documents and information.
If you have any questions along the way, please reach out to us at customerservice@sellersfi.com.
With the Commerce Pay, there isn’t a set repayment schedule. Instead, payments are automatically debited from your business bank account each time you receive a payment from your Marketplaces.
This flexible approach ensures that your repayments align with your income, making it convenient and manageable for your business.
You DO NOT need to transfer, wire, or write checks. All collections are made via ACH debit from your business bank account.
SellersFi will deduct the agreed-upon Percentage of Marketplace Transfers (as outlined in your Commerce Pay proposal) each time you receive a marketplace payout. Since SellersFi only collects a percentage of each Marketplace Transfer, the remaining amount is, of course, yours.
You can easily review your outstanding balance on the Commerce Pay product page.
You can access the product page by clicking on the “View” button on the Commerce Pay dashboard card. Or by clicking on Commerce Pay product on the menu.
You can access the payment history details by clicking on the Reference Number.
Should you have additional questions, please contact us at customerservice@sellersfi.com
During the application process, you will be asked to specify a designated disbursement account to receive the funds in.
Once the Commerce Pay agreement is fully executed and all conditions are satisfied, SellersFi will promptly initiate disbursement of the Advance Amount to the chosen bank account.
It’s important to keep in mind that your bank may need a few days to process transactions, so there may be a short delay before the funds become available in your account.
Unfortunately, once the Advance Fee and Marketplace Transfer rates are locked in, neither can be adjusted.
Commerce Pay is only available for Amazon sellers organized in the United States and who qualify for an Advance Amount of at least $25,000.
Everything you need to know about Daily Payout from SellersFi.
The Daily Payout from SellersFi is a way to keep your cash flow moving when marketplace payouts take longer than you’d like. Rather than waiting for the end of your sales cycle, the Daily Payout advances a percentage of your sales revenue into your account the next business day. This product is available to entities incorporated in the US and makes payouts in USD.
Example Proposal for illustration purposes only:
Daily Payout Rate: 85%
Advance Fee Rate: 1%
Purchase Limit: $40,000
Daily Payout Rate: This is the percentage of your eligible sales revenue that will be deposited into your designated bank account each business day.
Advance Fee Rate: This is the daily fee for using the Daily Payout product, expressed as a percentage.
Purchase Limit: This is the maximum outstanding balance you can carry at any given time. It’s designed to help protect your business’s financial health and reduce risk.
Your Purchase Limit is determined by several factors, including:
This limit is reviewed regularly and may be adjusted in our discretion as your business grows or changes.
Simulation with the Example Proposal terms for illustration purposes only:
Daily Gross Shipped Sales: $ 1,000
All Fees: $ -250.00
Net Sales: $ 750.00
Daily Payment Amount (85%): $ 637.50
Advance Fee (1%): $ 10.00
Daily Gross Shipped Sales: Total value of all orders shipped the previous day.
All Fees: Includes returns, holds, and any negative net sales. These are calculated daily.
Daily Payment Amount: The amount you receive in your bank account each business day, based on the Daily Payout Rate.
Advance Fee: The daily cost of using the Daily Payout product.
Additionally, if you have more questions, you can contact us at customerservice@sellersfi.com
The percentage of sales that will be advanced to you will vary from customer to customer. When you receive your agreement, you will have a proposed Advance Rate (generally 70%-90% of your daily net sales). Over time, we may, in our sole discretion, be able to increase your Advance Rate based on your store’s performance.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com.
The Daily Payout does come with a transaction fee that varies based on your Advance Rate. This is calculated based on your marketplace performance and has the potential to decrease over time with increased marketplace history and sales growth.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com.
Your payments will be due at the end of each sales cycle. Once you have signed an agreement for the Daily Payout, the process includes:
1. On each business day, we’ll check the previous day’s marketplace sales and disbursement amount.
2. The amount we will advance to you will be deposited automatically to your business bank account.
3. Once your marketplace has closed the sales cycle and deposits your payout into your Collection Account, we’ll automatically withdraw your total advanced funds, plus the transaction fee.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com.
On days of negative net sales, a Daily Payout advance will NOT be made. These days will be included in your balance sheet table.
Why do I have negative sales?
Net sales can be negative on days when your fees, returns, and/or holds are greater than your sales volume.
When will I begin to receive Daily Payout advances again?
Once your net sales have covered the negative balance, we’ll resume advances. For example, on day 1, your net sales were -$10.00, so no Daily Payout advance will be paid for that day. On day 2, your net sales were $30.00. We will be able to make a Daily Payout advance based on $20.00 (the positive balance between the days).
If you have any questions about your account or specific situation, please contact our team at customerservice@sellersfi.com.
Yes, it is possible that your Daily Payout advances can be temporarily frozen or suspended. Generally, this occurs if our team has concerns about the financial health of your business. For example, if your reserve value is too low and the amount owed is greater than the size of your future receivables, we’ll place a freeze on your advances. We take these measures to protect your business so that your outstanding balance does not exceed your ability to pay.
If a freeze occurs, please contact our team at customerservice@sellersfi.com to discuss your account.
Advance Fees are charged on the gross sales. For example, if your gross sales on day 1 are $500 and your Advance Fee is 1%, the Advance Fee for this day will be $5.00.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com.
Our customers have access to their Daily Payout transaction history in the “Balance Details” section of their account.
The dashboard shows Net Sales, the Advance Amount, and the Advance Fee amount for each transaction. Customers can also export this data. At the top of the screen, the Current Balance is displayed. This is the sum of all balances paid, plus the fees for each transaction.
Expanding Current Balance
To see additional details for each transaction, click on the arrow at the end of each row you’d like to review. This will give details into our calculations for each transaction.
The Summary Tab
The Summary tab includes a report of all transactions from your marketplace and SellersFi, grouped by category.
The Transaction History Tab
The Transaction History tab gives insight into each transaction, including disbursements, collections, and fees for each day. You can also check the transaction ID and additional details per transaction.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com
Once your marketplace closes each sales cycle, SellersFi will calculate the Daily Payout advances made during the cycle, plus the Advance Fees owed for each transaction. This total will be the amount due for that sales cycle.
Once your marketplace makes a disbursement for that sales cycle, SellersFi will collect the amount of your outstanding balance.
If you have additional questions about the Advance Fee, you can contact us at customerservice@sellersfi.com
