7 mins

5 Reasons eBay Loans are Best at Bitbond

Chris Grundy
Jul 27, 2018

Why Bitbond is Perfect for eBay Loans

The online powerhouse that is eBay is seen by many as the perfect outlet to sell high quality stock. The worlds' leading online marketplace brings together reputable sellers and vast numbers of customers from around the world, to enable businesses to flourish and consumers to be satisfied. For most sellers however, tapping into this huge consumer base can be difficult as capital is hard to come by and high quality inventory subsequently remains out of reach. eBay loans with Bitbond can change that.

A number of online businesses have recognised the potential that eBay has, and have either used eBay as their main outlet, or set up a store that runs alongside their existing e-commerce store. As such, this has inspired many budding entrepreneurs to set up their online store and take advantage of the online sales boom that eBay is able to provide.

However, those new to the world of e-commerce could find themselves being cast aside for more popular stores which have revolving inventory.  Of course, there are other avenues a new start-up can take in order to furnish its store with products, such as dropshipping, but for those who wish to hold their own stock, then they may need to look at securing some eBay loans.

How to Secure an eBay Loan for Your Store

When people think of loans, they think of banks. And of course, banks are more than willing to listen to a business proposal, but if the person you speak to doesn’t understand the online e-commerce world, you could be left with a few blank expressions, as well as no loan.

This isn’t to say that all banks no nothing whatsoever, in fact, many are tech-savvy, but it can be helpful to acquire a loan from a company that truly understands what it takes to run an e-commerce business. Bitbond is one such company.

The Benefits of Securing a Bitbond Loan

1.) Quick and Simple Signup for Your eBay Loan

Good reviews on eBay will grant you lower interest rates for your eBay loans when using Bitbond. This is because Bitbond allows borrowers to connect their eBay accounts, in order to analyse the customer feedback, which is weighted heavily when deciding on creditworthiness. Therefore, good reviews on your eBay store will give you access to lower interest rates.

Signing up for an eBay loan only takes 10 minutes of your time. This represents a significant improvement over the weeks or months banks, government or p2p lending sites take to clear you for a loan. With Bitbond you can apply for eBay loans in a matter of minutes without sacrificing time and effort. Be sure to have a valid ID, proof of income and a utility bill ready in order to complete your borrower application as quickly as possible.

2) No Bank Account is Required

The first thing that should be noted is that Bitbond is not a bank, it is a peer-to-peer lending service, and as such your eBay loan will be funded by investors around the globe. The way in which Bitbond assesses its applications is very different to that of a bank, and doesn’t require the user to have a bank account. Those looking to secure a loan simply detail their request on the Bitbond website. Prospective investors then look at your proposal and if interested, will lend you Bitcoins in order to move your business forward with your eBay loans.

Once a request is funded, the money is transferred to the borrower straight away. As you can see, the method used differs greatly to the algorithms and credit scores that banks and high-street lenders use.

Those who lend small businesses and startups Bitcoins can benefit from earnings on their savings, whereas those receiving the funds can benefit from a low interest rate when compared to alternative high-street lenders.

3) Global Access to Bitcoin Loans

Granted, it can be a little premature to boast about global access when only 35 percent of the world is online, but you have to admit, that’s still a fair amount of people. What it also means is that those looking to borrow funds for eBay loans aren’t shackled down with bank opening hours and endless meetings.

Having access to the Internet means that you can request a loan, regardless of your location. It also means that you are not limited to a specific country, as those who lend Bitcoins are located globally. Its factors such as these that are making Bitcoin loans a force to be reckoned with.

4) Cheaper Fees

The world of loans is something of a fickle one. If you have had loans in the past and they have been paid with no problems, you will probably get a loan with a low interest rate. If you have a couple of late payments, then you could see your business paying back a loan at a higher interest rate.

Of course, this is only an estimate, as no one really knows what a high-street lender will charge until they have evaluated your loan. Now, it goes without saying that no-one should be looking to take out a loan if they don’t have the means to pay it back, but evidently life can throw up some obstacles, that can be a little difficult to avoid.

One the most attractive aspects of Bitbond is its low fees. There are still varying rates depending on how much is being borrowed and how long the loan will run for, but when compared to other lenders, the fees and interest associated with the loan are low.

With interest rates starting at 7.7% p.a. eBay loans with Bitbond are significantly cheaper than with other providers.

5) Get Extra Resources

Bitbond specialises in providing eBay loans to Online sellers. Our Resources page is updated daily with free templates, eBay fee updates and seller tips for you to use. In your mission to maximise sales and make your eBay store a success, Bitbond can help you to gain valuable inside tips and tricks which will allow your business to flourish. Furthermore, our customer support is always willing to help and guide you through the process. Alternatively, feel free to send me an email to [email protected] for any questions, recommendations or problems you might have.

Conclusion

Bitbond is a platform that is fast becoming future-proof when it comes to providing small businesses with loans to help move their business forward. It also understands what the running of an online business entails, and as such, is in a better position to answer any questions you may have in relation to any Bitbond loan your company decides to take out. For more tips on what to sell on eBay or how to sell your stock profitably, check out our resources page.

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Bitbond is the first global platform for small business loans. Founded in 2013, we have funded over 3,000 loans to entrepreneurs all over the world.
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