Good news at last from eBay!

[bravergrace]

Message received from eBay today reads: 

We're excited to share that we have launched a new and enhanced journey for eBay sellers to access financing. As one of our valued sellers, you're among the first to experience this exclusive opportunity.

Based on your eBay sales volumes, we're pleased to inform you that you've been pre‑approved for £16.

The small print informs me that "the majority" of sellers who apply for these pre-approved offers, actually get approved.

So there's a fair chance that I will be denied access to this exclusive opportunity to join the new and enhanced journey to access financing to expand my business by borrowing sixteen quid.

Seriously, does eBay have no lower limits to its offers?  Does it actually enjoy depriving a seller of sales and then kicking him while he's down?  Could they not at least have rounded it up to twenty?

Or am I misjudging the situation, and most sellers are scrambling to read the small print and apply for these business-saving loans?

[jonatjonatjonat]

You can get 25 boxes and a bit left over. don't spend it all at once as they say.

[vintage-emporium-jedburgh]

Ebay seems to confuse value or appreciation  with greed and contempt

[therenewalworkshopltd]

It's just a program sending out information.

Obviously they have forgotten to put a lower limit in.  Extremely bad testing that!

But you are aware, that it's not actually Ebay lending you the money anyway, it's just a pre calculation based upon your sales and nothing more?

I do think it's wrong that they tell you that you are preapproved for this, when in actual fact, your not.

If you where, then you would just automatically get the money and that's not how it actually works.

[vintage_clearout]

Rates are usuary anyway, the bot is doing you a favour!

You would be better off financing in almost ANY other way (except loan shark, although....)

[bravergrace]

---

@therenewalworkshopltd wrote:

I do think it's wrong that they tell you that you are preapproved for this, when in actual fact, your not.

If you where, then you would just automatically get the money and that's not how it actually works.

---

Yes, I agree that it is misleading.  The term "pre-approved" means - to most people - that it has already been approved.  Whereas in this context, it seems to be completely meaningless.

Yes, I do realise it isn't actually eBay offering the loan.  But the message comes - or purports to come - direct from eBay, and the loan company is only mentioned right at the bottom, in the small print, followed by a note that this lending and eBay's behaviour are totally unregulated.  

YouLend Limited’s merchant financing is not regulated by the Financial Conduct Authority and eBay Commerce UK Ltd. is not performing any regulated credit broking in connection with YouLend Limited’s merchant financing.

To be honest, if I am sending someone an e-mail on behalf of a third party, I would make this clear in the subject line and the first line of the message, not as a footnote.  This is standard practice in real life, isn't it?

Something like:

"Message from Fred Smith

Fred has asked me to contact you as he is too ill to send this message personally...."

[messier44000]

Hope they don`t ask for your house as security if you don`t keep 

up with payments.

[therenewalworkshopltd]

And typically enough, I've just got an offer for £24 on another account. 

It's usually a lot higher than that, as they seem to turn up every week or so.

[kat@ebay]

Hi All,

Thank you for your posts.

The minimum offer for Seller Capital with Youlend is £500 so these low amounts in your emails looks to be an error.  The full details on Youlend is here.

I have reported the emails with the relevant team so they can be reviewed.

Thank you,

Kat

[ruby*ryan]

I saw reference to this on an off-ebay thread. Quite a few sellers had offers under £20!

[vintage_clearout]

No doubt Youl End this when the LSB catch up 😂

Toothless dog that they are, I'm sure.

[storage.boutique]

Be very careful with these types of lenders. They will want you to pay them a fixed percentage from your turnover. They get paid anyway, as a fixed fee. If you are in a competitive business it forces your prices up making you uncompetitive, reducing your sales and starting a downward spiral. They want you to pledge the future of your business turnover whilst at the same time doing everything to ruin it for you. You should never gamble on the future of your business, secure funding on the basis of what you have already done. YouLend and others are turnover killers!

[storage.boutique]

Yes I got a real treat on one of my smaller accounts-  

Congratulations! You've been pre‑approved for £1.

I was thinking I might apply and see what percentage of my turnover they would need to finance such a generous offer.

[vinylscot]

I was offered access to £52, but another email arrived later quoting £5200, so I guess the glitch has been fixed. (I won't be taking up either offer)

[insidethe93]

At least it's not -£16. Or the equivalent, due to an eBay fee. Pay eBay your £16 ASAP to join their new enhanced journey.