eBay Seller Capital and Liberis Partner to Accelerate Small Business Growth

Rhea-AI Summary

eBay (NASDAQ: EBAY) has introduced Business Cash Advance, a new revenue-based financing product under eBay Seller Capital in partnership with Liberis. The product aims to provide U.S. eBay sellers with up to $1 million in working capital within 24 hours. Key features include a seamless, fully online application process, pre-approved funding offers from $500 to $1M, fast transfer of funds within 12-24 hours post-approval, flexible payment schedules, and transparent reporting via the eBay Seller Hub. This initiative supports small businesses by offering tailored financial solutions to enhance their growth.

Positive

• eBay introduces Business Cash Advance, offering up to $1M in working capital within 24 hours.
• The product features a 100% online application process, flexible payment schedules, and transparent reporting.
• Partnership with Liberis provides tailored financial solutions to support small business growth.

Negative

• None.

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

 

View original content:https://www.prnewswire.com/news-releases/ebay-seller-capital-and-liberis-partner-to-accelerate-small-business-growth-302193026.html

SOURCE eBay Inc. and Liberis

FAQ

What is eBay's new financing product launched in July 2024?

eBay's new financing product is Business Cash Advance, introduced in partnership with Liberis.

How much working capital can eBay sellers access through the Business Cash Advance?

eBay sellers can access up to $1 million in working capital through the Business Cash Advance.

How quickly can eBay sellers receive funds from the Business Cash Advance?

Funds are typically transferred within 12-24 hours after approval.

What are the key features of eBay's Business Cash Advance?

Key features include an online application, flexible payment schedules, pre-approved funding offers up to $1M, and transparent reporting via the eBay Seller Hub.

Which company is eBay partnering with for the Business Cash Advance?

eBay is partnering with Liberis for the Business Cash Advance.