Working Capital Loan with sales repayment plans.

[moto_partss]

I have watch every video uploaded from the eBay Open 2022 searching for any updates on the eBay working Capital loans based in sales repayment plans (as the old PayPal loans used to work) After eBay decided to stop doing business with PayPal ( US THE SELLERS ) lost the ability to obtain working capital loans with sales repayment plans. Since then , eBay started doing business with LendingPoint. However, eBay ended up denying LendingPoint access to sellers information and accounts. Historically, ANY business loan is considered extremely risky from a lenders standpoint. The only reason why PayPal  was able to offer such high loans is mainly because their money was as save as it can possibly be. PayPal used to take a percentage of every single dollar we made and  us ( the sellers ) were able to pay those loans back fast enough  and still have time to obtain an additional loan before we have to add additional inventory to our stores. Sellers NEED to have access to cash flow fast, in order to obtain more and more inventory to grow our businesses. Unfortunately , LendingPoint loans have a fix monthly payment for up to 5 years. Those type of loans DON'T work for us for so many reasons. Specially because we can't pay them back fast enough ( before needing more money for inventory) But also , and the most important reason is that we don't get approved for the amount of money we were used to get. In general , LendingPoint loans simply don't work for the majority of the sellers and eBay is well aware of that. Since the breakup with PayPal , eBay implemented the same working capital loans based in sales repayment plans in UK and Germany. Therefore, I don't understand WHY on earth will they not implement it here in the US , where the majority of the sellers are????? We were hopeful a serious announcement regarding working capital loans was going to be launch on the eBay Open 2022 and instead we got half a video about how good LendingPoint loans are!!!! Is this a joke ? Please eBay, we (YOUR SELLERS) are in desperate need to have access to working capital loans based on sales repayment plans. We don't care what company you associate with as long as we have access to cash flow regularly and efficiently!!!! If you continue to ignore our need you will loose more and more sellers (as you already are at this point) We need updates regarding this subject ASAP !!!!! 

[mam98031]

I hope you find the financial vehicle that works best for your company.  I certainly can see how this is a big issue for you.

[moto_partss]

Thank you!

[sheila@ebay]

@moto_partss and @mam98031 the Seller Capital team saw this post and wanted to pass on a message. Thank you for sharing you feedback – we hear you and will work to incorporate this feedback to improve your experience with our products.

[valueaddedresource]

@moto_partss  - just a heads up, they just announced next week's monthly chat is going to be with the Seller Capital team - might be a good opportunity to give them some feedback on what you'd like to see with a feature like this.

https://community.ebay.com/t5/Monthly-Chat-with-eBay-Staff/Monthly-Chat-October-12th-at-1-00-pm-PT/m... 

[my-cottage-books-and-antiques]

I know this doesn't help you, but ebayUK did a short presentation about their version recently, and you are right about the UK....hard to understand why they haven't implemented that here...

[moto_partss]

sheila@ebay  I appreciate you taking the time to pass on the message. Unfortunately, there is a big disconnection between eBay and us (sellers).It will be nice and greatly appreciated to be able  to actually have our questions and concerns  answered accordantly. I appreciate every single eBay representative I have spoken to. However , I have been told for over a year things like : " we hear you , we appreciate your feedback, we will pass the information to upper management or even corporate" Even though I am sure they do their work, we end up never having the actual question answered!! Once again, I appreciate you taking the time to reply. But will definitely love to be able to have  these questions answered with something else order than "we hear you". Little by little our businesses are sinking to the point of no return. If eBay doesn't take our concerns and needs seriously many of us will be out of business sooner than we will like to admit. We really NEED to know if eBay will implement this type of loans any time in the immediate future? As we are not asking for anything extraordinary. These loans have been around for many years ( the logistics are already created ) We are not asking for the implementation of something new or impossible to achieve. Specially since you have already offer these type of products in other countries like Germany and UK. I don't understand what is the holdup here in the US? I hope you guys can take our feedback seriously at least this one time. Have a great rest of the evening! I will be looking forward to your reply ( we need a serious answer ) 

[moto_partss]

@valueaddedresource  Thank you so much for the update. I will definitely join the monthly chat. Hopefully , we can get some serious answers for once (since eBay keeps giving us the run around)  Have a great rest of the evening. 

[moto_partss]

@my-cottage-books-and-antiques  That is what we all want to know. Why implement the loans in Germany and UK ( with several lenders options btw) but not here? I hope we can get an answer soon. Have a great rest of the night. 

[mam98031]

That is great news, thank you for sharing.

[slippinjimmy]

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@moto_partss wrote:

@my-cottage-books-and-antiques  That is what we all want to know. Why implement the loans in Germany and UK ( with several lenders options btw) but not here? I hope we can get an answer soon. Have a great rest of the night. 

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Because historically those are two countries where eBay tests new features.

Be thankful that you are not in one of the countries that have to wait months, years or never get these new features.

[sheila@ebay]

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@moto_partss wrote:

sheila@ebay  I appreciate you taking the time to pass on the message. Unfortunately, there is a big disconnection between eBay and us (sellers).It will be nice and greatly appreciated to be able  to actually have our questions and concerns  answered accordantly. I appreciate every single eBay representative I have spoken to. However , I have been told for over a year things like : " we hear you , we appreciate your feedback, we will pass the information to upper management or even corporate" Even though I am sure they do their work, we end up never having the actual question answered!! Once again, I appreciate you taking the time to reply. But will definitely love to be able to have  these questions answered with something else order than "we hear you". Little by little our businesses are sinking to the point of no return. If eBay doesn't take our concerns and needs seriously many of us will be out of business sooner than we will like to admit. We really NEED to know if eBay will implement this type of loans any time in the immediate future? As we are not asking for anything extraordinary. These loans have been around for many years ( the logistics are already created ) We are not asking for the implementation of something new or impossible to achieve. Specially since you have already offer these type of products in other countries like Germany and UK. I don't understand what is the holdup here in the US? I hope you guys can take our feedback seriously at least this one time. Have a great rest of the evening! I will be looking forward to your reply ( we need a serious answer ) 

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I've followed up with the Capital team to see if they can provide any additional context. 

[moto_partss]

Thank you, I will be looking forward to hear from them. Have a great rest of the evening. 

[moto_partss]

@slippinjimmy  Good Evening, 

I know eBay has historically implemented new products in those countries. However, these aren't new products at all. Working capital loans based in sales repayment plan have been around since 2013. Paypal used to offer those loans to all eBay sellers many years ago.  Also, eBay UK announced "Capital for eBay Business" during their eBay Open UK 2021 (on September 28-30, 2021) it has been over a year already. Ayden's ( eBay's payments processors) announced their new financial products during their Capital Market Day in March 31,2022 featuring these type of loans for eBay ,Etsy sellers and Airbnb. The logistics are there, nothing new or troublesome. Have a great rest of the evening. 

[moto_partss]

Monthly Chat: Topic: "All things eBay Seller Capital" devon@ebay  sellercapitalteam@ebay 

Today's monthly chat was a joke to say the least !! 

@houseofblair   @my-cottage-books-and-antiques  @donsdetour 

eBay monthly chat  " All things eBay Seller Capital " was a complete disappointment. I have made countless attempts to get some serious reply from eBay regarding working capital loans based in sales repayment plans ( like the old PayPay loans used to work) I have contacted almost every single department eBay has! I have been transferred from department to department. All the way from customer service representatives to upper managements ( or at least as UP as we can go, which is not much at all) The only answered I have received each and every time has been: " We hear you , we will pass on the message" or "Please contact sellers capital directly (we have - and it has been unsuccessful)  At the end of the day. I don't doubt eBay representatives are doing their jobs. The issues comes when we NEVER get our questions answered. Although I appreciate their efforts. That is why  today I took the time to join the monthly chat regarding the subject " All things eBay working Capital" hoping we were going to be able to get some actual answers since supposedly the chat was " EBAY WORKING CAPITAL RELATED" My self and other sellers joined the chat with similar questions just to find out we were going to receive to the exact answers. I will quote " Thank you for sharing your feedback - we HEAR YOU (again, their favorite line) and will work to incorporate this feedback" 

For what I noticed today's chat wasn't about "All things eBay working Capital loans" as they had stated but rather another attempt to push LedingPoint (nonfunctional) loans. Reassuring us that the loans LendingPoint are offering are so easy and amazing all together. Myself and other sellers made several attempts to get answered during the 1 hour chat period. Sadly, none of us were able to get ANY answers other than " Thank you for sharing your feedback - we HEAR YOU and will work to incorporate this feedback" eBay representatives avoided every single one of our questions (and tried VERY hard to redirect the chat) matter of fact it wasn't a chat at ALL. It was us ( some sellers) eagerly requesting a serious answer to a very simply question.  Is eBay currently and actively  working in bringing back the working capital loans based in sales repayment plan? and if they are working on it , when can we expect this loans to be implemented in the US? ( They have already been implemented in Germany and UK) What is the hold up here ?

sellercapitalteam@ebay  PLEASE , we need an answer to our questions once and for all !!!! and please STOP pushing for LendingPoint loans, they DON'T work. We can't get a substantial loan amount ( many of your sellers aren't even approved) the interest rate is insanely high and lets not even talk about the payout time ( years to pay them back) Many of US (sellers) have gotten the LendingPoint loans because we have no other option (not because is functional or beneficial to our business) Many of us are still functioning and open but are struggling tremendously.  All of our stores are in constant need of inventory. Inventory we can't get if we don't get access to fast and efficient cash flow. If you guys don't take this seriously , both us and eBay will suffer the consequences ( we are loosing money daily) and eventually we will hit a point of no return. I was astonished the other day when I saw a big eBay store that was in business for over 15 years close down. Not to mention all the little stores that are being highly impacted by eBay horrible decision to associate with LendingPoint. 

@valueaddedresource  I am not sure if you are aware of the nonsense that just happened today during the monthly chat. Not a chat ( because a chat requires exchange of information and they were not giving us anything) but rather another fail attempt to communicate and get answers from eBay. If you can help us with anything , we will all greatly appreciate it. If you have any updates or can maybe reach someone higher up in the eBay community or cooperate it will be extremely helpful for us!! 

Lastly, I really hope someone with a little decency read this post from eBay upper management. Shame on you eBay for treating you seller with such little care or respect!!!