FAQ - (Frequently Asked Questions)
The 8fig onboarding process is conducted online and is designed to be quick and efficient. Once you complete the onboarding steps, you can expect to receive a funding offer from us either immediately or within one to two days.
An 8fig Growth Plan supports experienced eCommerce sellers in their quest for growth by providing customized, fast, and flexible funding designed to optimize their cash flow.
Our proven method aligns continuous capital with sellers’ supply chain costs, personalizes their remittance schedule, and enables them to make changes as they go. This better supports eCommerce business operations, allowing sellers to scale without cash flow holding them back.
To be eligible for funding from 8fig, your business must meet the following criteria:
- At least 6 *valid months in operation (a *valid month is one with $8,000 in sales and above).
- Annual revenue of more than $100,000.
- Average monthly sales over the last 3 months should be $12,000 or more.
- Store operates in USD/CAD currencies.
Currently, 8fig supports experienced private label and wholesale sellers on Amazon, Shopify, eBay, BigCommerce, WooCommerce, and Wix. (Please note that the list is dynamic and subject to change.)
In order to build you a personalized Growth Plan, 8fig requires a secure store connection so we can better validate your sales revenue. We use this data exclusively to determine your funding eligibility and design a Growth Plan that suits your needs. 8fig never reveals your data to other parties or utilizes it for any purpose.
Each 8fig client has their own tailor-made remittance plan. You will remit according to a personalized schedule based on the amount of funding in your Growth Plan as well as sales projections. You can request changes to your remittance schedule if sales take off or slow down significantly.
Unlike other financing solutions, 8fig doesn’t set a limit on the amount of funding we provide to eCommerce sellers. You know your business better than us, so we want you to tell us how much funding you need. Then, our team will take a thorough look at the numbers, validate your ambitious goals, and build you a personalized Growth Plan to help you reach your goals.
No, 8fig’s application process does not include a credit check. Our quick and easy application process does not affect your credit score, either. We simply take a look at your business history and sales revenue to determine your eligibility. You will need to connect your store and bank account so we can accurately review this information and build you an optimized funding plan.
8fig’s cost is fixed, so you know how much your plan will cost from the very beginning. Most 8fig sellers remit between $6,000 – $10,000 for every $100,000 included in their Growth Plan.