Flipkart is one of the most versatile e-commerce platforms in India. Selling on Flipkart is undoubtedly a great business, and if you've got the right product, you can generate greater revenue. Expanding business on Flipkart doesn't take time to get enough customer reviews and ratings.
Flipkart is a great spot for buyers, but Flipkart doesn't leave the sellers behind. You can avail of a Flipkart loan and push your business forward, and you won't face financial issues while running a Flipkart seller business.
If you encounter a sudden surge in your products’ demand on Flipkart, then such a loan can be highly beneficial. You can use this loan's funds to reduce liabilities, stick up inventory, maintain financial liquidity, pay off short-term expenditures, and create seller goodwill.
Did you know?
Head of Fintech and Payments Group, Ranjith Boyanapalli, said that the main target of Flipkart's fintech arm is to use the power of technology to empower financial inclusion within India.
The 'Growth Capital' program helps reach a traditionally underserved market. Hence, financial services become more accessible, which empowers the Flipkart seller community to realise their desire to grow their business.
He adds that the Fintech journey's natural progression's main goal through the Flipkart loan is to empower the seller community with low-interest and easily accessible financing options.
How Do I Apply for Flipkart Seller Loan?
Beginning an enterprise of your own is a worthy business idea. However, as we all know, it's not as simple as it appears. One of the most difficult problems people face when starting new businesses is capital.
Business loans are among the most efficient financial options available to entrepreneurs just starting. Firms like partnerships, proprietorships, and private limited companies can get a business loan.
There are two main kinds of business loans readily available:
Secured business loan: The procedure promises the bank to return the amount of money you borrowed from them or mortgage your valuable personal possessions to the bank to guarantee the money you are borrowing. These loans are characterised by low-interest rates, particularly when offered as collateral.
Unsecured Business loan: You don't need to provide collateral or other money for the loan amount here. However, the interest rates are higher.Also, salary distributions become a daunting task when your business grows and you start employing people due to different calculations. Don't worry; just use a salary calculator and appreciate exact salary distribution results.
Also Read: Guide to Starting a Flipkart Delivery Franchise
Types of Flipkart Seller Loans
1. Short Term Loan with a 1-year repayment time.
2. Intermediate loan with 1-3 years repayment time range.
3. Long Term Loan with 3-5 years repayment time range.
Eligibility Criteria for Flipkart Loan
These eligibility criteria are worth keeping in mind before applying for your Flipkart business loan:
- The minimum applicant minimum age should be 21 years, while 65 years is the maximum limit.
- Your minimum annual income should be ₹1.50 lakhs
- ₹25,000 minimum loan amount
- ₹2 crores maximum loan amount
Documents Required
Like other various types of loans, you'll have to submit a few necessary documents for Flipkart business loans:
- Identity Proof: Passport/driving license/PAN card/voter's card
- Age Proof
- Signature Proof: Bank verified signature/PAN card/passport
- Residential Address Proof: LIC policy receipt /ration card /utility bill/rental agreement
- Income Proof: Can be bank statements of last three months, IT Returns of last two years, proof of turnover, etc
- Bank-issued Certificate of continuity of your current business
Why Should You Advertise Your Products on Flipkart?
Selling your items on Flipkart will increase your visibility and the likelihood of attracting potential buyers. Marketplaces for businesses online are among the many ways to make money offered. To join the marketplace, you'll require a few of the necessary documents. Flipkart is a great platform for entrepreneurs who want to launch their online businesses.
Flipkart seller hub makes it easy for both established and new merchants to market their products online. Due to the huge number of buyers on marketplaces online, there is a great chance to expand your internet-based business. Marketplaces on the internet let you sell products and then charge vendors an amount of commission for each transaction you complete.
Most of us know about Flipkart because it's such a popular e-commerce shop that sells everything we'd like. We buy our most-loved items or the ones that first caught our attention on this site. But we realise that Flipkart is much more than that and is a unique business opportunity.
Who Can Sell Their Products on Flipkart?
Flipkart is India's most popular online marketplace. If you're a manufacturer, supplier, or vendor, simply sell your goods online with Flipkart and use your money to become the best online player. This Flipkart seller account is focused on helping and instructing sellers throughout India. It provides a team of experts who offer special seminars for sellers and preparation, assistance for sellers and a useful seller portal.
It makes use of third-party e-commerce service providers who aid in the classification, logistics and packaging equipment. The Seller Protection Program is designed to safeguard merchants from damage by reimbursing them via the Seller Protection Fund (SPF). They offer Flipkart Fulfillment Services that ensure rapid delivery of your products, quality control and excellent packaging.
You also enjoy the industry's fastest payouts and a great seller's entrance. It's no surprise that Flipkart is India's top marketplace online. It's easy and free to sell your products on Flipkart. Just sign-up and list your items, and then straight away begin selling.
As a Flipkart vendor, you can also be a part of this story. But, many do not feel confident about selling online. It seems difficult, but actually, it's not. Flipkart has done more than satisfy its customers and its sellers.
Let's examine the procedure of Flipkart sellers registration. We're confident that the following information will help you grow your business through Flipkart.
Also Read: What is the Difference Between Commerce and Business?
How Can I Validate a Flipkart Seller Account?
Here's the procedure for attaining quick business approval for selling on Flipkart:
- Log in to your Flipkart account after registering it.
- Select “Add New Listing” in the Listing option.
- Figure out where you want to build your new catalogue by tapping Browse Categories.
- Select the right product for your brand.
- One application form will appear soon after you tap Apply for Brand Approval.
- Fill in all vital information in that form, including your brand's name, website, description, logo, manufacturer, sub-categories, etc.
- Tap submit and complete the application.
Flipkart will take some time to review your details in the application, and when everything seems alright, Flipkart will approve it. You can check the account's approval status through the listing feature option.
Conclusion
Opening a Flipkart seller account, starting selling products, or applying for the Flipkart seller loan, each process is free from hassle. You enjoy great support, and most importantly, you don't need to pay high-interest rates anyway. Procuring a Flipkart seller loan doesn't need anything more than some legal documents, clearance to a few eligibility criteria, and trust in yourself for repaying the loan.
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