The pilot program is now live and compatible with eBay’s managed payments program.
SAN JOSE, California, August 5, 2020 / PRNewswire / – eBay is teaming up with LendingPoint to launch a new program that will give eBay sellers in the United States access to finance to help them grow and sustain their businesses. The program, eBay Seller Capital powered by LendingPoint, is compatible with payments managed by eBay and will enable individuals and businesses to obtain financing, providing eligible sellers with a fast, flexible and transparent financing experience.
“We are committed to empowering entrepreneurs to make their dreams come true, and we continue to partner with our salespeople to provide them with the tools they need to thrive,” said Alyssa cutright, Vice President of Global Payments at eBay. “We are excited to offer flexible financing options that integrate with our new payments experience. The program with LendingPoint will provide critical financing opportunities for eBay sellers, especially during these uncertain economic times.”
“LendingPoint’s goal is to accelerate and democratize commerce,” said Tom burnside, CEO and Co-Founder of LendingPoint. “We are excited to be able to use the data and technology that we have integrated into our platform to help eBay sellers achieve their dreams. EBay sellers are some of the fastest growing e-commerce players in the world and our business system. ‘Loan operation will help them access financial tools. They need to be even more successful with their businesses. “
EBay sellers who are working with LendingPoint as part of the pilot program can get quick decisions and access installment loans. This program will be offered with flexible terms of up to 48 months to allow sellers to choose the best option for their specific budget needs, and lower repayment plans under longer terms. LendingPoint will not charge any setup or prepayment charges. Going forward, through this partnership, eBay and LendingPoint aim to expand their offering to provide eBay sellers with more tools to help them run their business.
eBay Seller Capital, powered by LendingPoint, is being rolled out as a pilot program with select sellers and will be available to all eligible sellers in the United States later this year. Upon initial launch, eligible sellers can receive up to $ 25,000 in one working day.
eBay Inc. (Nasdaq: EBAY) is a global leader in commerce that connects millions of buyers and sellers around the world. We exist to provide economic opportunities for individuals, entrepreneurs, businesses and organizations of all sizes. Our brand portfolio includes eBay Marketplace and eBay Classifieds Group, operating in 190 markets around the world.
LendingPoint is a data and technology platform that enables the creation of unsecured personal loans for financial institutions and for its own balance sheet. The company uses its data algorithms and technology to create better lending and borrowing experiences by finding more reasons to say ‘yes’ – democratizing credit across the credit spectrum by opening up access to affordable loans . Its LendingPoint Merchant Solutions platform provides ecommerce platforms and merchants and other service providers with a single, fully integrated financing solution to accelerate commerce by providing vendors with financing and converting more customers to the point of sale. sale. Its SDKn ™ enables seamless integration of the entire LendingPoint Loan operating system into e-commerce applications and platforms with just a few lines of code.
In 2019, LendingPoint ranked 17th on the Inc. 5000 list of fastest growing private companies in the United States; ranked 9th in Deloitte’s 2019 Technology Fast 500; and the CEO of the company Tom burnside was voted South East Entrepreneur of the Year finalist by EY. LendingPoint was named one of the nation’s top consumer loan companies in 2018 by US News & World Report, one of NerdWallet’s top personal loans and the metro’s fastest growing private company. Atlanta by the Atlanta Business Chronicle. LendingPoint is a privately held company headquartered in Kennesaw, Georgia., with offices in new York and Nevada.
This announcement contains forward-looking statements relating, among other things, to future events and future performance of the Company and reflects, among other things, eBay’s expectations regarding the expected benefits of the Company’s partnership with LendingPoint.
Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from statements made. Factors that could cause or contribute to such differences include, but are not limited to: changes in political, trade and economic conditions, any regional or general economic downturn or crisis, and any conditions that affect the growth of electronic commerce or the cross-border trade; the timing and possible outcomes of this initiative; and the potential for the company to take longer than expected to fully realize the anticipated benefits of the initiative, and those benefits may ultimately be less than expected or not materialize at all.
Further information on factors that may affect the Company’s results of operations can be found under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the latest report. company annual report on Form 10-K and subsequent quarterly reports. on Form 10-Q, copies of which can be obtained by visiting the company’s investor relations website at https://investors.ebayinc.com or on the SEC website at www.sec.gov. All information contained in this version is as of August 5, 2020. Do not place undue reliance on any forward-looking statements contained in this press release, which are based on information available to the company as of the date hereof. The company assumes no obligation to update these statements.
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SOURCE eBay Inc.