eBay

xcaldk74 · ‎01-18-2022

Hi,

Received offer from them and interesting in applying. Do you guys know if these loans are "unsecured" meaning they won't go after my personal assets in case of i.e going under? Would be applied under business LLC.

Thank you in advance.

gracieallen01 · ‎02-27-2022

@xcaldk74 wrote:
I mean guys this is partnership through eBay....

Oh, don't worry - ebay will get their part for their 'partnership'.

Not saying 'NO' doesn't mean 'YES'.

The foolishness of one's actions or words is determined by the number of witnesses.

Perhaps if Brains were described as an APP, many people would use them more often.

Respect, like money, is only of 'worth' when it is earned - with all due respect, it can not be ordained, legislated or coerced. Anonymous

toomuchstuffagain35 · ‎02-27-2022

This is ebay's "replacement" for PayPal's Working Capital loans, and as per ebay's SOP they are nothing like being anywhere near the same thing.

"If a product doesn't sell, raise the price" - Reese Palley
"If it sold FAST, it was priced too low" - also Reese Palley

jrw36 · ‎11-19-2022

Personal loan. Interest rate right below a payday loan! Only way I could recommend is if you needed like 5k to cover an item or lot that you know you can flip right away and don't mind paying a flat 10% fee.

And don't expect any credit reporting unless it's negative!

onefootflipper · ‎11-19-2022

Not worth doing. You can build an ebay business up from selling old things around the house to six or even 7 figures in sales in a couple of years without borrowing a dime. 2 and a half years ago I got out of the hospital very sick, and just having had my right leg amputated. I started selling things around the house. I am expecting to hit $140,000 in sales this year.

Watch all of Daily refinement's videos on Youtube as he is the only Youtube person I know who concentrates on the business aspect of ebay and not the picking aspect.

jrw36 · ‎11-19-2022

predatory for sure. My score was 750+ but I was at about 80% on all of my cards. They gave me like 8k & charged flat 10% for 6m note. That's like 35% APR. Paid off exactly as prescribed a year ago. NO REPORT TO ANY CREDIT REPORTING AGENCY! )they agreed to report to at least one).
Fortunately my profit margins are really high so I did well - probably 750% ROI but I wouldn't do it again because of their failure to report.
****About the same time I was offered a $75k cash out refi of my home @ 3.5%! I didn't do it! So incredibly STUPID!!! I should have known those low interest rates weren't gonna last. 3.5%!!!

BOTTOM LINE - Use this type of loan only for quick return, high margin investments only - when you can afford to pay 10% off the top for a 6m note! And don't expect reporting to credit bureau unless it's negative!
You're better off putting purchases on a credit card - at least you can pay off early and avoid interest...