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Selazar announces new 90-day extended payment terms for UK eCommerce retailers
Industry-leading offer will help eCommerce retailers free-up working capital and grow their business
Rapidly growing eCommerce fulfilment company Selazar has announced the launch of a 90-day credit facility, designed to help eCommerce retailers free up working capital and grow their business. This announcement represents an industry-leading offer in the UK 3PL marketplace, which typically operates on payment terms of 1-30 days.
Selazar’s new 90-day payment terms have been created with today’s challenging economic conditions in mind. Though eCommerce retailers may be experiencing healthy growth and steady receivables, many are still cash-poor, hindering scalability. Extended logistics supply credit terms create breathing room for customers, allowing them to continue investing money in areas of the business that will facilitate continued growth.
The new credit facility is especially timely, given that banks are likely to be forced to mitigate investment risks in SMEs this year, given the current economic outlook. Fewer institutions will be willing to free up funds for scalability.
Commenting on the launch of the 90-day credit facility, Jack Williams, CEO of Selazar said:
“We’re very pleased to be able to offer this extended payment terms offer to eCommerce retailers across the UK. It’s an offer that’s unique in the market and one that will offer real benefits to customers – particularly during this economically challenging time, when cashflow is very important to many businesses. It will allow them to free-up working capital to invest in other areas of the business, give them more time to pay off alternate costs and allow them to further invest in inventory.“
Selazar, which was founded in Belfast, has been on a solid growth trajectory since its launch in 2018. The company has developed a highly innovative proprietary eCommerce fulfilment platform and primarily services medium-sized and bespoke retailers throughout the UK. This new financial offering marks the latest stage in Selazar’s expansion of services, following a £20 million growth investment in November 2021 and the opening of several sites, including a new high-tech warehouse in Hellaby, Yorkshire in September 2022.
Qualification for Selazar’s extended 90-day payment terms is subject to satisfactory credit check requirements.