Business Loans
In a quickly growing digital economy, the internet shopping revolution has opened up tremendous potential for innumerable online firms. E-commerce funding is a sort of financing aimed to assist small internet sellers in expanding their businesses. This capital can be used for a variety of purposes, including meeting day-to-day cash flow needs or supporting important expenditures that would otherwise be out of reaches, such as more stock, new equipment, or additional employees. There are various ways that e-commerce enterprises might function in today’s world, with retail sites like Amazon, eBay, Etsy, and others continuing to develop, and social network platforms increasingly providing direct sales as well. E-commerce loans may provide online merchants with the financial flexibility they need to fulfill their goals, with a number of funding alternatives available in just a few clicks.
New Step
eBay is branching out into financing with a new offering aimed at the 300,000 small and medium-sized companies that sell on its marketplace in the United Kingdom. Capital for eBay Business Sellers is a product launched in collaboration with YouLend, an integrated financing platform, and will give loans ranging from £500 ($641.18) to £1 million ($1.3 million). eBay and Square Capital launched a new agreement today that would allow eBay sellers in the United States to receive capital to help them build their companies. Square Capital will give qualifying eBay sellers a straightforward, smooth, and transparent finance experience, whereas many small companies still struggle to get the cash they need. In the United States, eBay sellers will be able to apply for as little as $500 or as much as $100,000 in funding to help with anything from payroll and inventory to equipment and marketing.
EBay and Lending Point connection
eBay has recently launched a partnership with Lending Point. LendingPoint is an American lending platform, and eBay advertises its platform as a fantastic resource for small company owners and entrepreneurs who are turned down by traditional banks. They cut your rate and provide additional cash if you have built a good track record. Lending Point is arranging to fund eBay merchants. Lending Point’s platform helps more consumers and small companies get loans by connecting them with lenders who can help them such as Foundation, First Electronic Bank, and Fin Wise Bank.
With a new offering geared to 300,000 UK vendors on its platform, eBay is moving into lending
The online marketplace is also partnering with YouLend on the Capital for eBay Business Sellers initiative to help alleviate the cash flow problem that many of its members are experiencing as a result of the epidemic. In 2019, eBay and Asto Digital announced a similar arrangement. However, Asto was forced to close earlier this year after its parent company, Santander, cut off funding. Santander was working with eBay at the time, according to Finextra sources, to continue supporting the program and its common consumers. According to an eBay poll, a third of the UK’s 5.9 million small companies are at risk of going bankrupt in less than a month owing to a lack of access to capital. According to the study, 40 percent of SMEs have been rejected credit from a bank, while 31% had been rejected credit from the government. eBay merchants will be able to request loans ranging from £500 to £1 million through YouLend. Eligible sellers fill out a short application form and get bids in minutes, with the money arriving the same day they accept an offer.
eBay recently withdrew the acceptance of Paypal payments, due to the loss of monthly fee invoices. In order to rectify this, situation, and to directly introduce cash into the eBay system, eBay has introduced the Capital for eBay Sellers programme, which is headlining with YouLend.
P2P loans
P2P loans are a popular way to get money on eBay. Because they are not affiliated with any banks, you may generally borrow considerably more cheaply and quickly than you could from a bank. People who need a loan for their business are matched with lenders who wish to invest in them through peer-to-peer lending. Essentially, instead of borrowing money from a bank, you’re borrowing it from a group of people who are ready to accept a bigger risk in exchange for a larger return. Interest rates are determined by several variables, including your credit score. P2P lenders abound, with some of the more well-known names being Funding Circle, Ultimate Finance, and Nucleus. A new type of peer-to-peer lending network that specializes in worldwide small company loans has just developed.
People purchasing on their phones and tablets are propelling the UK’s e-commerce business, which is worth £60 billion. For both vendors and buyers, so-called m-commerce is making online shopping easier and faster. However, competition is stiff, particularly on sites such as eBay, where many small enterprises offer their wares. Most of us think of eBay as a way to supplement our income. The reality is, if you’re serious about selling, eBay may be a lot more than that. Some people have turned their eBay seller accounts into $25 million-a-year enterprises. However, without some funding, you won’t be able to attain anywhere like this level of success as an eBay seller.
To find out more about funding for your business, get in contact with Funding Bay who works with a roster of over 200 lenders. To find out how much you can access, have a play on our below.
