eBay provides cash advances to sellers
eBay continues expanding the funding options it offers sellers on its marketplace.
The e-commerce retailer is teaming up with embedded finance platform Liberis to introduce Flexible Cash Advance, a financing product offered as part of the eBay Seller Capital program it initially piloted in 2020. The new option provides sellers with quick access to larger and more flexible funding than has previously been made available by initiatives such as Business Cash Advance.
[READ MORE: eBay launches quick capital program for sellers]
Leveraging Flexible Cash Advance, sellers can advance funds anywhere from $5,000 up to $2 million. They also have the flexibility to receive more capital as they pay, but only pay for what they use.
Sellers can apply once to secure an approved capital amount through Flexible Cash Advance and get advances on demand without undergoing the application process multiple times.
According to eBay, the application process can take as little as three minutes to complete, and sellers can get access to funding as quickly as 24 hours, along with a payment schedule that flexes up and down with their sales cycle.
"We are thrilled to expand our eBay Seller Capital Program with the introduction of Flexible Cash Advance to continue investing in the success of our sellers on our marketplace," said Avritti Khandurie Mittal, VP & GM of global payments and financial services at eBay. "This new financial solution offers expanded funding ranging from $5,000 all the way to $2 million and enables entrepreneurs on eBay to unlock additional capital as they pay."
To qualify for Business Cash Advance, sellers must must have:
- Sales history within the last three months on eBay.
- One transaction per month in the last three months.
- At least $5,000 total eBay revenue in the last 12 months.
"We're thrilled to build on this momentum with our latest financial solution, Flexible Cash Advance as we continue to offer fast, convenient and transparent seller capital solutions that fuel the growth of small businesses and create economic opportunity for all," Mittal said.
