Is eBay the lender?
No. eBay partners with Funding Circle to provide eBay sellers with term loan financing. Funding Circle will originate and service your loan.
Will this impact my credit score?
Funding Circle will only conduct soft personal credit inquiries to underwrite or to service your loan, and will only do so after you’ve agreed to these inquiries during the application process. The soft pulls of your personal credit will not impact your credit score or show up
on reports obtained by other lenders.
What do I need to apply?
The simple application takes a few minutes to complete. You'll be asked to verify your identity, provide certain personal and/or business information, and confirm the bank account where you prefer to receive your loan proceeds, if approved.
Do I need to provide financial statements in my application?
You may be asked to provide bank statements or tax returns for income verification purposes. If you have more than one bank account to manage your business and personal income, you’re welcome to provide multiple bank statements as requested. As part of your loan application process,
you’ll need to provide a single bank account for the disbursal of the loan proceeds.
Are there origination fees?
Funding Circle charges a 5.99% origination fee.
When will I receive my loan proceeds?
eBay Seller Capital’s lending partner, Funding Circle, usually provides lending decisions within 24 hours and may provide same-day decisions. Depending on your bank, your deposit could be available as soon as two business days after loan approval.
How will I receive my loan proceeds?
Loan proceeds will be directly deposited into your verified bank account.
How do I repay?
Customers repay the loan directly to Funding Circle as per the terms of the loan agreement. For any questions regarding repayments please contact Funding Circle directly at loanquestions@fundingcircle.com or (866) 679-7966.
Are there any early payback fees?
No. You can pay off your balance in a few days or at the end of your term, without penalty.
How are my payments calculated?
Your monthly payment will depend on your loan amount, repayment term and interest rate. You can use Funding Circle’s small business loan calculator to estimate your monthly payment.
Does anything change with my current loan from eBay Seller Capital powered by LendingPoint?
If you have a current loan with our former eBay Seller Capital partner, LendingPoint, nothing will change for you. LendingPoint will continue to manage your loan until the end of its term and you can stay in control by accessing the
LendingPoint customer portal.