May 14, 2024

Clearco product release: Document upload functionality

Samantha Lloyd

Clearco is always striving to make the Invoice Funding experience for our ecommerce customers the most seamless it can be. When an ecommerce business is initially creating an account with us, there are many documents required to make a funding decision on a business. We aim to be the capital partner with the best technology platform to enable the most efficient funding experience for your business. Fulfilling this mission means releasing new product features that create that result for your business. 

Documents ecommerce businesses need to provide Clearco for account setup

When setting up an account with Clearco, the representative of your business has to add documentation to verify the location, revenue, and other elements of your business that impact our funding decision. On a new account, we require ecommerce businesses to have the following information ready:

  • Void Check or Direct Deposit Info: Have your void check or direct deposit information ready.
  • Plaid Connection or Bank Statements: Use Plaid to connect to your bank or provide a minimum of six months of bank statements.
  • Articles of Incorporation Upload the legal documents that verify the incorporation date.
  • Employer Identification Number If applicable, add your business's EIN. wallet icon Social
  • Security Number: If applicable, add your Social Security Number (SSN).
  • Connect Accounts: Be prepared to connect your revenue accounts, such as Shopify, Stripe, PayPal, Square, BigCommerce, or Amazon.

Documents ecommerce businesses provide Clearco to get funding for invoices and receipts

Beyond these documents for initial account setup, we also require documentation to show the invoice and receipt that requires Clearco funding. We fund three areas of your business that are directly related to revenue return or growth, however we also fund some operational items, such as corporation tax bills.

  • Fund your inventory: Let Clearco fund your invoices as soon as you receive them so you can create a positive supplier relationship.
  • Fund your marketing bills and receipts: Let Clearco fund your marketing bills and receipts so you can continue running the campaigns that drive growth.
  • Fund your shipping and logistics: Let Clearco fund your shipping and logistics so operations run timely and smoothly so customers can get their products.

Document upload for a streamlined process in Clearco

To encourage document upload to the platform directly, rather than in partnership with your account manager, we decided it was time to build out a clear space in the platform for your documents.

Our Clearco ecommerce customers will now see a link to a brand new Documents Tab on the left column when logged-in to the platform, with functionality to upload, search, edit, and filter documents.

For this initial release of the document upload product feature, we are supporting upload of:

  • Corporate Documents
  • EIN Docs
  • Financial Statements
  • Asset and Liability documents
  • Bank Statements
  • Void Cheques

Contracts and Automated Clearing House (ACH) documentation will be available for convenient viewing and download. This includes all historical uploads, organized by date. As well, certain elements of uploaded documents are now editable. For example, you can update the type of Business Document by going to the Business Tab, clicking the pencil and then toggling the type. When new bank statements or updated financials are required, you will be notified in the business profile section. Notifications are another new component of document upload that help support a more automated process for our Clearco customers.

Making document upload faster and more secure for Invoice Funding

We hope our new document upload feature continues our mission of building an efficient Invoice Funding process for your ecommerce business. We look forward to continuing to update our platform to improve your ecommerce business’s experience with Clearco.

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Samantha Lloyd
Director of Marketing, Clearco

Samantha Lloyd is the Director of Marketing at Clearco. A longstanding marketer in the business-facing technology industry, Samantha focuses on accelerating startup and transformative growth at companies. In her free time, you can find Samantha dreaming of the ocean.