New Revenue-Based Financing Product Unlocks
Access to Capital for eBay Sellers
SAN
JOSE, Calif., July 10,
2024 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY), a
global commerce leader that connects millions of sellers and
buyers, today announced the launch of Business Cash Advance, a new
eBay Seller Capital revenue-based financing product provided by
Liberis, a leading global embedded finance platform. Aimed at
supporting eBay sellers at every business stage, Business Cash
Advance offers eligible U.S. eBay sellers up to $1 million in working capital in as little as 24
hours. The product delivers:
- A seamless application experience: 100% online and
personalized application experience that takes as little as three
minutes.
- Extensive financing options: Pre-approved funding offers
ranging from $500 up to $1M removing the fear of rejection.
- Fast access to capital: Upon approval, funds are
typically transferred in as little as 12-24 hours.*
- Flexible payments: Flexible payment schedules that scale
with the seller's sales cycle. There is no minimum payment and no
early payment penalty.
- Transparent reporting: Sellers can easily track payment
progress, reconcile payments and sales proceeds, and view all
reporting in one place on the eBay Seller Hub.
"As a pioneer in ecommerce and the home to small businesses
in more than 190 markets, eBay understands the challenges small
businesses encounter in securing fast, flexible and transparent
financing," said Avritti Khandurie Mittal, VP & General
Manager of Global Payments and Financial Services at eBay. "eBay
Seller Capital is aimed at fueling our sellers' growth by providing
them with tailored financing solutions that meet the unique needs
of their businesses. The addition of Business Cash Advance to our
suite of offerings in partnership with Liberis enables us to expand
capital availability for our sellers on flexible terms - when they
need it the most."
"We understand the unique challenges eBay sellers face when
securing financing through traditional means," adds
Rob Straathof, CEO of Liberis.
"Through eBay Seller Capital, Liberis will empower sellers with
access to fast and responsible financing. We're thrilled to partner
with eBay to support eBay sellers to operate and grow their
businesses."
Please visit eBay Seller Capital for more details.
*eBay partners with trusted lenders and funding providers to
offer eBay sellers with financing products. The lenders and funding
providers will originate and service financing to qualified
participants.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global
commerce leader that connects people and builds communities to
create economic opportunity for all. Our technology empowers
millions of buyers and sellers in more than 190 markets around the
world, providing everyone the opportunity to grow and thrive.
Founded in 1995 in San Jose,
California, eBay is one of the world's largest and most
vibrant marketplaces for discovering great value and unique
selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more
information about the company and its global portfolio of online
brands, visit www.ebayinc.com.
About Liberis
Liberis builds flexible embedded finance solutions that empower
businesses and provide positive impact. Founded in 2007, Liberis is
a leading global embedded finance platform with a mission to
provide small businesses with accessible and responsible finance,
based on the belief that funding should always be a positive force
for small businesses. Liberis provides partners with the technology
platform and financial solutions to offer hyper-personalized and
accessible funding, empowering their small business customers to
grow their revenues. With over 30 global strategic partners and
direct reach to more than 1 million small businesses, Liberis has
provided over $1.5bn of funding in
over 70,000 transactions, enabling more than 100,000 jobs to be
created and saved. Liberis' revenue-based finance is a form of
receivables finance, not a loan. Amounts advanced are subject to
status and our underwriting process before any offer can be made.
Visit their website for more information: https://liberis.com
* As of June 2024, 65% of
successful applications received by Liberis were funded within
one working day
[1] U.S. Small Business Administration. (2023,
April 12). U.S. Small Business
Administration Implements Rules to Address Persistent Capital
Access Gaps [Press release]. Retrieved
from https://www.sba.gov/article/2023/04/12/us-small-business-administration-implements-rules-address-persistent-capital
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SOURCE eBay Inc. and Liberis