Entrepreneurship is booming as lockdowns are eased. New entrepreneurs need capital to grow but bank financing is increasingly difficult to obtain. We believe payment service providers and ecommerce platforms are well positioned to fill the bank shaped hole and offer business financing to their merchants embedded in their current UX.
We are pleased to announce the launch of our partnership with eBay to provide financing to their sellers. Capital for eBay Business Sellers (CEBS) will help small businesses rebuild by delivering much-needed access to finance, as entrepreneurs and start-ups across the country face a cashflow crunch caused by the pandemic.