To apply for SuperHero Capital, you will need to complete an Application which currently sits outside the EcoSystem.
Before you can apply, there are certain criteria in place that you must satisfy to be eligible. You can go through the checklist here.
Follow an overview of the whole process below with an idea of timescales and what the Capital Team are responsible for.
Registering your interest and Applying
Please remember to use your EcoSystem email address.
Firstly, you need to complete the application details in full to register your interest on the Capital Application.
The Capital Team will then process your application and review all the details, checking that it meets all the criteria guidelines in order to be eligible.
If approved, a pre-signed Stock Finance Agreement will be emailed to you with details of the payment process. You will need to counter-sign this using Hello Sign and return to us.
You will also be sent a link to sign up to GoCardless, which is a recurring payment facility that collects invoice payment automatically. This will be set up with the bank that you choose. When this has been set up, we can release some of your Product but this can’t be done until GoCardless has been set up.
Deposit Payments
In the Application, you will need to choose the level of deposit that you want to make. Please bear in mind that the higher the deposit rate, the lower the interest rate you will be offered. Or conversely, the lower the deposit rate, the higher your interest rate.
You will pay the deposit to the Capital Team for the entire order and not your Supplier. We will then pay your Supplier directly for both the deposit of your order when the Product goes into production and the balance of the order when production has completed.
The deposit will be made by bank transfer to SuperHero Capital.
If you pay the deposit to your Supplier, we will not be able to provide Capital for that order.
Freight
The Capital Team and SuperHero Freight will arrange everything with your Supplier including the purchase order - you don’t need to be involved at all.
Please note that we don’t get involved in cost price negotiation. You will get to do the negotiations and we will handle the payments.
One term is that only 30% down will be paid to the supplier until the product arrives at the port.
The added bonus about using SuperHero Freight is that SuperHero Capital can take advantage of preferable freight rates because it is part of the same company group.
This means that your costs are kept down to a minimum and you don’t need to use your own CBM to ship the goods.
When your Product arrives at the hub(s), we will pay the duty for you and this is included in the final Capital figures. This means that there may be a slight change in the final payment schedule.
Please ensure that you advise us of the correct duty rate and HS Code. This will be checked by SuperHero Freight and changed where necessary which could have a negative impact on your profit calculations.
Availability of Stock
When your stock arrives at the warehouse, the quantity of your Product available for replenishment will depend on the deposit that you paid.
So for example, if you ordered 1,000 units and paid 20% deposit, you would be able to access 20% of the total order for replenishment, which equates to 200 units.
Each time you make a repayment, you will have access to more of your stock for replenishment.
The Member is responsible for raising any replenishment orders to Amazon.
Payment Terms
Your repayments will begin 21 days after your goods arrive in the largest marketplace you are selling in. So for example, if you are selling in the USA, UK and Canada, once your goods reach the Houston warehouse, because this is the largest marketplace, you will receive an email letting you know that your repayments will be due to start. This will be 21 days from the date your goods are checked into the warehouse.
Late fees and failure to make repayments
Communication is key if you run into any difficulties.
If, for whatever reason, you feel like you may not be able to make one of your repayments, please contact us through the Support desk and we will happily work something out with you.
We are here to help!!
That being said, there are some procedures in place if payments cannot be made.
Step 1
If you miss a repayment, you will be contacted as a reminder to make the payment.
Step 2
If we have not heard from you by day 5 of the missed payment, we will contact you to remind you and warn you that there may be a £/$40 late fee if payment is not made.
Step 3
If we have not heard from you by day 10 after the missed payment, we will contact you again and the late fee of £/$40 will be issued. We will also remind you that your next repayment is due in 4 days.
Step 4
If we have not heard from you or received any payment by week two after the first missed payment, you will now be behind on two repayments. At this time, we will lock you out of the EcoSystem until you have brought your account up to date or we have received a communication from you.
Step 5
If we have not received a payment or communication from you by week 3, we will again contact you to warn you that your Product(s) will be confiscated by week 4.
Step 6
If we have still not received any communication from you after 3 weeks and 3 days, a £/$40 late fee will be applied to your account.
Step 7
Once we are in week 4, your goods will be confiscated by SuperHero Solutions. This is irreversible.
Like I said, we are here to help. So at any stage, if you are struggling financially or have any worries, please just get in touch and we will do our best to support you.
If you want to make early repayments in order to release your stock earlier, this is possible but will incur an early repayment fee. You will need to email support@marketplacesuperheroes.com to request.
If shipping and production takes longer than 12 weeks, there is currently no option to delay the start of the loan.
In General
Once you have ownership of the Product or a percentage of the Product, it is the Member’s responsibility to create the Amazon listing, photography, PPC etc.