I was in Las Vegas last week for the ASD/AMD Wholesale Trade Show. I found tons of goods to buy to resell, but the problem was I was broke. We had just done the Seattle Gift Show and bought a ton of merchandise there for resale, so my product buying fund was empty. And then, of course, I ran into an incredible deal and I didn’t have the bucks to take advantage of it.
I came across a liquidator who had 120 sets of a Mastercraft 16-piece ratchet wrench set for $80 a set. These sets have an MSRP of $229 and the normal wholesale price is $169 –so this was a real steal. And there I was with no cash.
Then two days after I returned from the show I heard about Kabbage. Kabbage is a new product financing service for eBay sellers. Its simple and quick. You type in your eBay username and based on your eBay sales, Kabbage tells you how much you qualify for. Then you fill out a simple online form. Kabbage checks your credit and verifies your eBay sales and gives you an instant merchant cash advance. The advances are designed to finance products that you can flip of eBay or Amazon (or any other venue). You pay the advance back over 6 months (or sooner).
Had I known about Kabbage I could have purchased all 120 sets and made over $13,000 on this deal. Yes I would have had to pay some advance fees, but those opportunities don’t come along that often and when they do Kabbage can help you take advantage of them.
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