How TikTok sellers are making every second count
22/11/2024
3 min read
Our ability to stay focused has diminished and on TikTok Shop, the sellers who excel are those that understand how to make every second count.
What is Daily Advance
Get paid faster for your TikTok Shop sales. Yes, it’s that simple.
Sometimes you don’t need a loan, you just need to get paid faster. That’s why TikTok has partnered with Storfund to offer Daily Advance.
With Daily Advance, TikTok Shop sellers get paid as soon as they ship.
When you get paid faster, you can restock immediately and grow your business. Faster payouts = faster growth.
How could faster payouts change your business?
When you’re seeing high demand, getting paid faster can help you meet that demand AND increase your profits.
Even if you get paid every day, TikTok Shop’s payment terms mean there is a delay between sale and payout; shortening this period by even a few days can increase your sales exponentially.
Watch our video to see the impact of a shorter cash cycle and how faster payouts could double your growth.
How Daily Advance works
01
Sell as usual through your TikTok Shop and ship your goods.
On Day 1, you’ll also receive your ‘on hold’ amount with your first advance.
02
Each day we advance you up to 80% of your net, shipped sales.
(Net sales = Gross sales minus TikTok Shop fees and refunds)
03
When TikTok Shop pays out, you receive the remaining 20%, minus Storfund’s fee.
TikTok Shop seller“I wholeheartedly recommend Storfund to any TTS seller who’s looking to scale their business. It’s a game-changer!”
Benefits of using Daily Advance
Growth burns cash
Demand outpacing your cash flow? With Daily Advance, you can restock immediately and never lose a sale.
Cash is King
Use upfront payment to negotiate a discount with suppliers.
Shipment day +1 payouts
No more waiting to get paid on TikTok Shop. With Daily Advance, sellers get paid on shipment day +1. Without Daily Advance, payments for sales are made after the delivery date.
No hidden costs or tie-ins
No subscription or set-up fees, and no minimum term; cancel the service whenever you want.
Trusted partner
We have been financing sellers on over 35 marketplaces worldwide since 2019, which is why TikTok has selected Storfund as a trusted partner.
Made for growth
We help sellers grow internationally through our global network of marketplace partners.
FAQs for TikTok Shop sellers
What is Daily Advance?
Daily Advance is a financing product from TikTok Shop, powered by Storfund.
Simply put, Daily Advance advances you money each day on the sales you have made through your TikTok Shop. The benefit of this is that your cash flow isn’t delayed by TikTok Shop’s usual payment terms.
Daily Advance is not a loan or credit.
Who is Storfund?
Storfund is a global fintech, providing Daily Advance to sellers on over 40 marketplaces worldwide. It was founded in London 2018 by long-time friends George Brintalos and Akbar Ahsan. Read more about our story.
What are the benefits of Daily Advance?
- No more waiting to get paid. Get paid when you ship, don’t wait until after the delivery date for your payout.
- Get a cash injection for your business as you’ll receive your ‘on hold’ amount with your first advance.
- Hit scale. There’s no limit to how much you can receive; no matter how high demand grows, Daily Advance will match it.
- Keep up with demand. And never run out of stock.
- Getting paid earlier – by even a few days – can double your sales. Even if you get paid every day, our payout terms mean there is a delay between sale and payout; Daily Advance will speed up your cash cycle.
- Use upfront payment to negotiate a discount with suppliers.
- No minimum term. Stop whenever you want.
What does Daily Advance cost?
We charge one low fixed fee, which ranges between 0.1-0.2% on your total net sales funded. There’s no subscription or set-up fees to pay.
Watch this video to see how our fee works.
Storfund can create a simulation with your sales data so you can see what you would have paid over the previous month, and what you will likely pay over a year.
Is there a maximum amount I can receive?
Daily Advance will keep pace with your growth. There’s no limit to how much you can receive; Storfund can advance up to $5 billion per year.
How do I know if my TikTok Shop is eligible?
To use Daily Advance your business will need to meet the following requirements:
- Must be US based.
- A minimum of six months sales history on TikTok Shop or another marketplace.
- Strong performance on TikTok Shop.
- Minimum $10,000 monthly sales.
How do I apply for Daily Advance?
Daily Advance is gradually being rolled out to eligible businesses – if it is available to you, you will find it in your TikTok Shop account under Capital in the Finances tab.
If you’d like to speak to us about using Daily Advance, you can request a callback, email us or simply book a meeting at a time that suits you.
What should I do if I have more questions?
If you’d like to discuss Daily Advance, you can get in touch with our Sales Director here.
Get Daily Advance
Daily Advance is gradually being rolled out to eligible businesses – if it is available to you, you will find it in your TikTok Shop account under Capital in the Finances tab.
If you’d like to speak to us about using Daily Advance, you can request a callback, email us or simply book a meeting at a time that suits you.
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