During the application process, we ask you to provide a thorough written explanation of your business, including what it does, who it serves, and how it earns revenue. Collecting this level of detail is crucial for helping us understand your business — the more we know, the easier it is to verify your information, which can make the review and approval process smoother and quicker. Though a web presence is not required for your application, a positive web presence can help establish your business’ credibility.
Here's an example business description that will minimize the need for follow-up questions:
- The business is an online e-commerce store that sells women's shoes and accessories. It offers the latest fashionable styles of heels, boots, sandals, wedges, and flats in a range of sizes. Additionally, it sells handbags, jewelry, belts, scarves, and other accessories.
The above business description provides an understanding of the digital nature of the business as an online seller of women's fashion products through an e-commerce website. The detailed explanation provides clarity on the purpose and focus of the proposed or existing business activities.
Further questions we might ask to get more information about your business:
- Is your company new or established?
- Are your funding sources known?
- If so, how is the company funded?
- How does the business owner expect to get paid?
- How are you planning to use your Mercury account?
- What types of customers or clients does the business target?