How to Verify Your Funds
Verifying your funds is the final step to becoming a verified buyer on our marketplace.
Verified buyers are trusted by sellers and are able to unlock listings without hesitation.
Asking buyers to verify their funds not only maintains the high level of security on our marketplace but also helps us to better understand your investment criteria.
To verify your funds you need to head over to “My Account” and go to the “Verification” tab. Here you’ll find the area to “Verify Funds” or click here to be taken straight there.
There are two secure ways to verify your funds. The first of these is to verify your bank balance by connecting your bank account. This method will allow you to unlock a listing instantly.
The second is to upload financial documents. We’ll go over what documents are acceptable later in this post, but it should be noted that this method can take up to 24 hours to be reviewed before you can receive your unlocks.
Once approved, you will be able to unlock listings up to 1.5X of the funds you verified. For example, if you verify $100K; you’ll be able to unlock listings up to $150K.
Connecting Your Bank Account
Verify your bank balance by connecting your bank account.
Currently, connecting your bank account is only available to users with a US bank account. If you have a bank account outside of the US, you can upload financial documents as described below.
Our system generates a one-time snapshot of your account and then deletes the information after confirming your account has been verified. We never store any credentials to make sure your account stays safe.
You’ll begin by choosing which banking provider you are with:
When you’ve done that, you’ll be prompted to log in and we’ll be able to verify your funds based on the amount in your bank account.
After we verify your account balance, you’ll be able to unlock listings.
Bear in mind that if your account balance changes after your first account verification and you want to reflect that on our marketplace, you’ll need to repeat this process for a new snapshot.
This is the quickest way of getting unlock access to listings.
Uploading Financial Documents
While uploading financial documents is an equally secure method as connecting your bank account, we reject over a third of submissions because the wrong types of documents are submitted.
We want to allow you to unlock listings as soon as possible, so please take note of how you can demonstrate your funds by uploading various documents:
- Bank account statement
- Stock portfolio
- CPA letter
- Home equity line of credit (HELOC)
- Cryptocurrency wallet
- Retirement account
- Other Available Credit Status
To make sure your verification process goes smoothly, please make sure your documents being submitted clearly show:
- Your name. If it has your business’ name, please also submit proof of business ownership
- A recent date (within the past 3 months)
- The liquidity amount
Once you’ve chosen the document type, you will need to upload the document or an image of it. After that, just hit the “Submit” button and your financial documents will be reviewed by our team.
The review process will take up to 24 hours before your unlock will be approved.
Once your proof of funds is verified through your financial documents, you’ll receive unlock privileges for businesses for sale on our marketplace.
You’ll initially be credited with 100 unlocks but you can contact us at any time to receive more. All we ask is that you close the listings you’re no longer interested in and provide feedback for each listing prior to asking for more unlocks.
To read more about why we lock listings and the unlock process, visit this guide:
How the Unlock Process Works
Buying a Business
We understand that buying a business is a big decision whether you’re new to online businesses or more experienced.
If you’d like some help to find the best acquisitions based on your criteria, then you can set up a free consultation call with one of our business advisors. During this call, we’ll be able to advise you on the best choices to make based on your budget, goals, and skillset.
So if you’re ready to get serious about finding a profitable business, schedule a call by clicking on the link below.