Capital for eBay Business Sellers goes live in UK

eBay UK is entering the SME lending space, with the launch of Capital for eBay Business Sellers (CEBS).

This is pitched as the e-commerce giant’s biggest move yet into financial services.

CEBS offers financing products to support the 300,000 small and medium sized businesses that sell via the UK platform to 29 million active monthly buyers.

YouLend is the first of three platforms announced today as part of the initiative, giving eBay business sellers access to funding ranging from £500 to £1 million, which is then repaid directly from their sales.

Murray Lambell, General Manager, eBay UK, says: “Small businesses make up 99% of all UK businesses, yet they have been financially excluded from traditional lenders and let down by Covid support schemes.”

“That’s led to a serious under-investment, leaving many at risk of going under while others are prevented from reaching their full potential.”

“Capital for eBay Business Sellers is intended to help plug this gap, giving small businesses quick access to a range of financing options. With 300,000 UK small businesses trading on eBay, this proposition will help them reinvest, protect jobs, and succeed, even as the government’s support schemes dry up.”

Jakob Pethick, CCO at YouLend, comments: “Our focus is on giving leading e-commerce platforms, tech companies and payment service providers the ability to offer their customers rapid funding through our technology platform. We’re delighted to partner with eBay UK to support their business sellers thrive and grow."