Parker offers an elegant solution for Ecommerce businesses seeking a more streamlined approach to their business’s finances. With a dashboard view of their various channel transactions, users can gain valuable insight into their products profitability – helping to inform and power future growth.
Parker also offers a valuable line of credit, with physical and virtual cards with a limit up to $1M, and a payback period ranging from 2 to 60 days.
As an example, the two main things users would typically choose to put on their Parker card would be ad spend and supply chain purchase orders. Additionally, Parker sees a lot of brands putting shipping expenses on the card.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
With Parker, each day represents its own statement and you have a rolling 30, 45 or 60 day line of credit.
This line of credit scales as your business does – so, a 30 day line of credit is available for companies under $100k/month, and a 45 day line for those doing $150-$250k/month in sales, etc.
Credit limits go up to $3M, and there’s no interest charged, or associated fees. Parker is free to use, and protects personal risk with no personal guarantee, and no pulling your personal credit.
Parker is designed to give brands the confidence (and cash injection) that they need to scale - fast. By giving a clear indicator of profitability, and improving cash flow, Parker can help growing ecommerce retailers really start to push the needle.
Parker represents a really helpful solution to 30 and 60 day spend. They offer 1% cash back and work with partners like Plastiq, enabling them to offer international wires and transactions at extremely good rates.
Typically your CEO, CFO, or Head of Finance will be using Parker. Once approved, set up and onboarding should be a straightforward process as you connect relevant accounts and create the cards you need to serve your business.
In order to be approved for Parker, you’ll need 6-12 months of operating constraint with a minimum cash balance in your bank of $10k. Your limits are dynamically adjusted as you scale.
Parker represents the best opportunity for high-growth brands that are scaling so fast that cash flow is a serious problem that may start to restrict or even cap their success. It can also be a fantastic solution for Amazon sellers who are constantly waiting on marketplace payouts.
The platform offers less value to dropshippers, but still can work for those with heavy ad spend and low margins who need to grow faster.