EBay's UK business is starting to offer loans to small businesses that use the e-commerce site.
In Brief:
EBay is partnering with YouLend.
They’re developing the Capital for eBay Business Sellers (Cebs) programme.
Sellers can apply for loans of between £500 and £1mn, receiving offers in minutes.
What does this mean?
EBay says it is launching the programme to support small businesses which are suffering cash flow problems due to a pandemic. The business has found through a survey that 40% of SMEs have been denied a loan from a bank and 31% have been turned down for a loan by the government.
