Lender
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Payability Review

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About Lender

Payability, a leading financial solution for eCommerce sellers, has been transforming the landscape of online business financing since its inception in 2015. Specializing in empowering entrepreneurs engaged in eCommerce, Payability offers a range of services to enhance cash flow and expedite access to funds, particularly tailored for marketplace sellers, including those on prominent platforms like Amazon and Walmart. With a commitment to providing friction-free funding, Payability has facilitated over $6 billion in daily payments to more than 10,000 Amazon sellers, solidifying its position as a trusted partner for small businesses seeking accelerated daily working capital.

The key to Payability's appeal lies in its innovative approach, offering eCommerce sellers the unique advantage of FREE instant access to their Amazon cash reserves. By avoiding the constraints of traditional loans, Payability allows businesses to improve their cash flow instantly without incurring debt or interest rates. The platform's seamless application process and flexible funding options, which grow in tandem with a business's sales volume, make it a preferred choice for entrepreneurs looking to reinvest their earnings strategically. With a commitment to being debt-free and transparent, Payability stands out as a reliable financial ally for eCommerce businesses navigating the dynamic landscape of online sales and marketing.

Payability

Key Features

  1. Free Instant Access. Enjoy immediate access to Amazon business cash reserves, enhancing cash flow for eCommerce businesses. Over $6 billion in daily payments made since 2015, demonstrating a proven track record.

  2. Debt-Free Transactions. No interest rates or debt incurred with Payability's Free Access solution. Aligns with daily sales, allowing entrepreneurs to access their Amazon sales faster for a fee on their payout.

  3. Friction-Free Application Process. Easy and quick application process, requiring minimal information, with a focus on your sales volume on various eCommerce platforms. Streamlined onboarding with the assistance of Payability's team of specialists.

  4. Accelerated Daily Payouts. Receive daily payouts for eCommerce sales, avoiding the delays associated with traditional marketplace payouts. Fast and easy approval process, with no credit checks required for certain products.

  5. Payability Seller Card. Access to a zero-fee Seller Card for instant spending of daily sales, further facilitating friction-free transactions. Fast and free same-day transfers to your bank account via ACH, wire, or Instant Transfer.

  6. Transparent Fee Structure. Payability fees based on account health, sales history, and fulfillment method, ensuring a fair and transparent cost structure. Option to use Free Access products for fee-free services, catering to businesses of varying sizes.

Pros and Cons

Pros

Instant Access to Cash Reserves. Payability offers eCommerce sellers immediate access to their cash reserves, enabling them to improve cash flow and reinvest in their businesses without waiting for traditional payout timelines.

Flexible Funding Options. With funding options that grow alongside business sales volume, Payability provides scalable solutions tailored to the evolving needs of eCommerce entrepreneurs, allowing for strategic reinvestment and expansion.

Debt-Free Transactions. Payability's Free Access solution ensures that businesses can access their earnings faster without incurring debt or interest rates, providing a transparent and sustainable financial option.

Cons

Qualification Criteria. Some sellers may find it challenging to meet Payability's qualification criteria, which include a minimum of 3 months of selling history and monthly sales of $5,000 for Instant Access, potentially limiting access to the service for newer or smaller businesses.

Fee Costs. While Payability offers fee-free options through its Free Access products, sellers utilizing other services may incur fees based on account health and sales history, which can impact overall profitability.

Reliance on Marketplace Platforms. Payability's services are primarily designed for sellers on eCommerce platforms such as Amazon, Walmart, and Newegg. Sellers operating outside of these platforms may not fully benefit from Payability's offerings.

Reliability

Renowned for its reliability and customer satisfaction, Payability stands as a BBB accredited business with an outstanding rating of 4.9 out of 5. With a significant presence on Trustpilot, boasting a total of 417 reviews, Payability underscores its commitment to transparency, integrity, and exceptional service within the eCommerce financing landscape. These accolades serve as a testament to the company's dedication to providing reliable and trustworthy financial solutions for eCommerce sellers, cementing its reputation as a reputable and dependable partner in the industry.

How to Apply for a Payability Loan?

  1. Prequalification Assessment. Before beginning the application process, sellers can undergo a prequalification assessment to determine their eligibility. This typically involves assessing monthly sales volume and selling history.

  2. Online Application. Start by visiting the Payability website and navigating to the application page. Sellers will need to provide basic information about their eCommerce business, including sales volume and selling platforms such as Amazon, Walmart, or Newegg.

  3. Connect Your Marketplace Account. Once the initial application is submitted, sellers will be prompted to connect their marketplace accounts, such as Amazon Seller Central, to the Payability platform. This step allows Payability to verify sales history and assess eligibility for financing options.

  4. Review and Approval. After connecting the marketplace account, Payability's team will review the application and assess the seller's eligibility based on factors such as sales volume, selling history, and account health. This review process typically takes a short period, and sellers will be notified of their approval status promptly.

  5. Agree to Terms and Conditions. If approved, sellers will receive details of the financing offer, including terms, fees, and repayment structure. It's essential to carefully review and understand these terms before agreeing to proceed with the financing.

  6. Finalize Account Setup. Upon acceptance of the financing offer, sellers may need to complete additional steps to finalize the account setup, such as providing banking information for fund transfers or confirming identity verification requirements.

  7. Receive Funds and Start Using. Once the account setup is complete, sellers can start accessing funds through Payability's financing solutions. Depending on the chosen option, funds may be available for immediate use, providing sellers with the cash flow needed to support their eCommerce operations.

Conditions and Requirements

Conditions

  1. Flexible Funding Options. Payability offers flexible funding solutions tailored to the needs of eCommerce sellers, with payouts that grow alongside business sales volume.

  2. Instant Access to Funds. Borrowers gain immediate access to their cash reserves, enabling them to improve cash flow and reinvest in their businesses without waiting for traditional payout timelines.

  3. Debt-Free Transactions. Payability's financing solutions, such as Free Access, ensure that borrowers can access their earnings faster without incurring debt or interest rates, providing a transparent and sustainable financial option.

  4. Transparent Fee Structure. Payability's fee structure is based on account health, sales history, and fulfillment method, ensuring fairness and transparency. Borrowers have the option to use fee-free products, such as Free Access, based on their preferences and needs.

  5. Accelerated Daily Payouts. Payability advances a significant portion of the previous day's payouts daily, including weekends and holidays, providing borrowers with faster access to funds to meet immediate business needs.

  6. Qualification Criteria. Borrowers must meet Payability's qualification criteria, including minimum sales volume, selling history, and marketplace account health, to access the financing solutions offered by the platform.

Requirements

  1. Minimum Sales Volume. Borrowers must meet a minimum monthly sales volume threshold, typically set at $5,000 per month, to qualify for Payability's financing solutions.

  2. Selling History. A minimum selling history of three months on eCommerce platforms such as Amazon, Walmart, or Newegg is often required for eligibility.

  3. Marketplace Account Connection. Borrowers are required to connect their marketplace accounts, such as Amazon Seller Central, to the Payability platform to verify sales history and assess eligibility.

  4. Account Health. Payability may evaluate the health of the borrower's marketplace account, including factors such as seller rating, performance metrics, and compliance with platform policies.

  5. Identity Verification. Borrowers may need to undergo identity verification procedures to ensure compliance with regulatory requirements and prevent fraudulent activity.

Ways to Receive the Money

  1. ACH (Automated Clearing House) Transfer. A popular and convenient method, funds can be transferred directly to the borrower's bank account via ACH transfer. This method typically takes 1-3 business days for funds to reflect in the recipient's bank account.

  2. Instant Transfer. Payability may offer instant transfer options for borrowers who require immediate access to funds. With instant transfer services, funds are transferred to the recipient's bank account almost instantly, providing quick liquidity for urgent business needs.

  3. Payability Seller Card. Borrowers can opt to receive funds on the Payability Seller Card, a zero-fee debit card provided by Payability. This card allows for instant spending of daily sales proceeds and offers a convenient way to access funds without waiting for bank transfers.

  4. Global Transfer Services. Payability may offer global transfer services, allowing borrowers to transfer funds internationally to bank accounts in over 180 countries. This option is beneficial for eCommerce sellers operating on a global scale who need to manage cross-border transactions efficiently.

Products

  1. Instant Access. Instant Access provides eCommerce sellers with daily payouts, allowing them to access a significant portion (typically 80%) of the previous day's sales immediately. This flexible funding option is ideal for businesses looking to enhance cash flow without incurring debt or interest rates.

  2. Instant Advance. Instant Advance offers a lump sum advance of up to $250,000 based on future sales projections. This product is suitable for businesses that require a larger amount of working capital to fund expansion, purchase inventory, or invest in marketing initiatives.

  3. Instant Access Card. The Instant Access Card is a zero-fee debit card provided by Payability, allowing sellers to instantly access their daily sales proceeds. It offers a convenient and immediate way to spend funds without waiting for traditional bank transfers.

  4. Free Access. Free Access provides sellers with fee-free access to a significant portion of their daily sales, aligning with the Instant Access model. It is an ideal option for businesses looking to avoid traditional loan costs while improving cash flow.

Reasons for Getting Rejected for a Payability Loan

  1. Insufficient Sales Volume. Payability typically requires a minimum monthly sales volume threshold, often set at $5,000 per month, to qualify for its financing solutions. If an applicant's sales volume falls below this threshold, they may not meet the eligibility criteria.

  2. Limited Selling History. Applicants must have a minimum selling history of three months on eCommerce platforms such as Amazon, Walmart, or Newegg to qualify for Payability's financing options. A lack of sufficient selling history may result in rejection.

  3. Poor Account Health. Payability may evaluate the health of the applicant's marketplace account, including factors such as seller rating, performance metrics, and compliance with platform policies. A history of account suspensions, poor reviews, or policy violations may negatively impact approval.

  4. Inconsistent Sales Performance. Payability assesses the consistency and reliability of an applicant's sales performance to determine eligibility for financing. Fluctuations or irregularities in sales volume may raise concerns about the borrower's ability to repay the loan.

  5. High Risk Profile. Applicants with a high-risk profile, such as a history of delinquencies, bankruptcies, or legal issues, may face rejection due to increased risk exposure for the lender.

  6. Incomplete or Inaccurate Information. Providing incomplete or inaccurate information during the application process can lead to rejection. It's essential for applicants to ensure that all required documentation and details are accurate and up-to-date.

  7. Failure to Meet Qualification Criteria. Applicants must meet Payability's qualification criteria, including minimum sales volume, selling history, and marketplace account health, to be considered for financing. Failure to meet these criteria may result in rejection.

How to Repay a Payability Loan?

  1. Automatic Repayment. Payability employs a unique repayment model that automatically deducts a predetermined percentage of daily sales proceeds from the borrower's eCommerce platform account. This process ensures seamless repayment without the need for manual intervention.

  2. Percentage-based Repayment. Payability typically deducts a fixed percentage (e.g., 10-30%) of daily sales revenue from the borrower's eCommerce platform account until the loan amount, along with any applicable fees, is fully repaid. This percentage-based repayment structure allows for flexibility and scalability, as repayments are proportional to sales volume.

  3. No Fixed Monthly Payments. Unlike traditional loans that require fixed monthly payments, Payability loans offer more flexibility by adjusting repayment amounts based on daily sales performance. This approach ensures that borrowers can manage cash flow effectively without experiencing financial strain.

  4. Seamless Integration. Payability's repayment system is seamlessly integrated with popular eCommerce platforms such as Amazon Seller Central, Walmart, and Newegg. Borrowers do not need to manually initiate repayments or transfer funds, as repayments are automatically deducted from their sales proceeds.

  5. Timely Communication. Payability communicates regularly with borrowers to provide updates on repayment activity, account health, and any relevant changes to repayment terms or conditions. Timely communication ensures that borrowers are informed and empowered to manage their loan effectively.

  6. Optional Early Repayment. Borrowers may have the option to make early repayments or pay off the loan ahead of schedule, depending on the terms of the loan agreement. Early repayment can help borrowers save on interest and fees while demonstrating responsible financial management.

Alternatives

BizFund

Offering financing options ranging from $5,000 to $500,000, BizFund provides variable repayment terms spanning 6 to 12 months. With flexibility tailored to business needs, BizFund offers accessible financing solutions for a diverse range of ventures, ensuring entrepreneurs can secure the capital required to fuel growth and expansion.

CanaCap

CanaCap extends financing opportunities from $5,000 to $500,000, with repayment terms varying between 4 to 12 months. As a versatile financial partner, CanaCap caters to businesses of all sizes, offering adaptable repayment structures designed to accommodate different business cycles and objectives.

Driven

Driven offers financing from $500 to $300,000, with competitive starting rates at 8.39%. The company provides flexible repayment terms ranging from 2 to 24 months, catering to businesses with varying financial needs and goals. Driven prioritizes accessibility and affordability in its lending approach, empowering businesses to thrive and succeed.

OnDeck

OnDeck offers financing solutions ranging from $5,000 to $300,000, with interest rates starting at 7.99% and repayment terms spanning 4 to 18 months. Renowned for its accessible lending options and transparent terms, OnDeck serves as a trusted financial resource for entrepreneurs seeking to propel their ventures forward with confidence.

Editorial Opinion

In navigating alternative financing solutions for eCommerce sellers, Payability presents itself as a notable option with its array of products tailored to address cash flow challenges. While its automated repayment model and flexible funding options offer convenience and scalability for businesses, potential borrowers should carefully consider the qualification criteria and repayment terms to ensure alignment with their financial needs and objectives. Payability's commitment to transparency and customer support underscores its dedication to providing accessible financial solutions, yet borrowers should conduct thorough due diligence and explore alternative options to determine the best fit for their specific circumstances.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
  2. Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
  3. Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
  4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
  5. Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
  6. Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).

Methodology

At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

Sources

FAQ

How much can you borrow from Payability?

Payability offers various financing options tailored to meet the diverse needs of eCommerce sellers. The loan amounts available through Payability depend on factors such as sales volume, selling history, and the specific product chosen. For example, Instant Advance offers lump sum advances of up to $250,000 based on future sales projections, while Instant Access provides daily access to a significant portion of sales proceeds. The loan amounts can vary and are determined based on individual business circumstances and eligibility criteria.

Does Payability approve everyone?

While Payability aims to provide accessible financing solutions for eCommerce sellers, it does not guarantee approval for every applicant. Payability evaluates each application based on factors such as sales volume, selling history, account health, and compliance with qualification criteria.

While the eligibility requirements are designed to accommodate a wide range of sellers, certain factors, such as insufficient sales volume, limited selling history, or poor account health, may lead to rejection or reduced credit limit. Ultimately, approval decisions are made on a case-by-case basis, and not all applicants may meet the necessary criteria.

Is Payability a legitimate company?

Yes, Payability is a legitimate and reputable company that specializes in providing financing solutions for eCommerce sellers. Founded in 2015, Payability has established itself as a trusted partner for thousands of eCommerce businesses, facilitating over $6 billion in daily payments to sellers on platforms such as Amazon, Walmart, and Newegg. Payability operates in compliance with regulatory requirements and industry standards, offering transparent terms, transparent fee structures, and dedicated customer support to ensure a positive experience for its clients.

Is Payability a good lender?

The assessment of whether Payability is a good lender depends on individual business needs, preferences, and circumstances. Payability offers several benefits, including flexible funding options, instant access to funds, and automated repayment processes tailored to eCommerce sellers.

However, like any financial service provider, Payability may not be the best fit for every borrower. Potential borrowers should carefully evaluate Payability's offerings, including qualification criteria, fees, and repayment terms, to determine if they align with their financial objectives. Additionally, comparing Payability's services with those of other lenders can help borrowers make informed decisions about the suitability of Payability team as a lending partner for their eCommerce business.

Company documents

Privacy Policy

Our goal is fast, friction-free funding for every eCommerce entrepreneur, no matter what marketplace they’re selling on.

© Payability
Financial products
Payability
Instant Advance
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $250,000
Rate
i

Effective interest rate on the product

0.5% - 1% per week
Term
i

Loan term for the financial product

set individually
Payability
Instant Access
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $250,000
Rate
i

Effective interest rate on the product

set individually
Term
i

Loan term for the financial product

set individually
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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$500-$50,000
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Effective interest rate on the product

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Rating by Finanso®
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Recommended FinScore™
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Effective interest rate on the product

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Rating by Finanso®
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Recommended FinScore™
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $1,500
Rate
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Effective interest rate on the product

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