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.
YouLend powers CEBS, giving eBay business sellers access to funding ranging from £500 to £1m, which is then repaid directly from their sales. CEBS will initially offer loans of between £500 and £1m to the 300,000 small and medium-sized businesses that sell on its UK marketplace.
With eBay already having access to seller trading history and performance, eligible sellers only need to complete a simple application form, receiving offers in minutes, with more than 90% of sellers receiving funds the very same day they accept an offer.
The launch of CEBS follows new research, released today from eBay UK, which finds a third (31%) of the UK’s 5.9 million small businesses face going bust in under a month due to inadequate access to financing.
The research also found that two in five (40%) small businesses have been denied a loan from a bank, while one in three (31%) have been turned down for a loan by the government. When considering Covid loans specifically, 44% said they have not accessed any Covid support in the past 12 months.
Read more about the launch in the Financial Times.
Learn more about partnering with YouLend here.