eBay has teamed up with Liberis, a leading embedded finance platform, to expand its Seller Capital program in the US with the introduction of Flexible Cash Advance. The new option provides sellers with quick access to larger and even more flexible funding to help expand their businesses. Sellers can advance funds anywhere from $5,000 up to $2 million. They also have the flexibility to unlock even more capital as they pay - but only pay for what they use.
A recent PYMNTS Intelligence report found that 70 percent of small businesses have less than four months of cash to cover operating expenses. With Flexible Cash Advance, sellers can use the funding to purchase more inventory, and handle unexpected expenses and seasonal fluctuations throughout the year. 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. This can be a critical safety net for sellers that need access to financing anytime.
According to the U.S. Chamber of Commerce, more than half of small businesses find the loan application process time-consuming, and 46 percent say the process is confusing. The Flexible Cash Advance application process can take as little as three minutes to complete, and sellers 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. 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”, said Avritti Khandurie Mittal, VP & General Manager of Global Payments and Financial Services at eBay. “Earlier this year we launched Business Cash Advance, another exciting eBay Seller Capital offering and have already successfully funded thousands of sellers and dispersed millions of dollars in working capital. 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.”
Access to capital is the lifeblood of small businesses. With eBay’s Seller Capital offerings, Flexible Cash Advance, Business Cash Advance and Term Loans, sellers at all stages now have more ways to easily access financing that meets the unique needs of their businesses.
More details about Flexible Cash Advance and other financing options will be available soon on the eBay Seller Capital hub.