A new partnership between eBay and LendingPoint is offering merchants on eBay access to loans. The pilot program will give eBay sellers in the U.S. access to funding to help grow and sustain their businesses. The program, eBay Seller Capital is powered by the fintech company LendingPoint. The program offers access to installment loans for select sellers. It is currently available to select sellers and will roll out by being open to all eligible sellers.
Eligible sellers will be able to receive up to $25,000, accessible within one business day and available with flexible terms of up to 48 months. There will be no fees for loan origination or early payback.
According to the two companies, the program offers fast, flexible and transparent funding opportunities. This will help small businesses access badly needed loans with rates ranging from 9.99% to 35.99%.