eBay joins Stantander in business loans venture
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Online retail giant eBay and Asto, the Santander-backed fintech that aims to help small businesses run and grow through a range of financial and non-financial services, have partnered up to offer cash flow loans to eBay.co.uk’s growing network of small businesses.
The partnership aims to help eBay’s small business customers ease cash flow pressures and grow their businesses.
From later this year, Asto will offer loans to the more than 200,000 SMEs using eBay in the UK.
To help make lending decisions, the Santander-owned app will access eBay data on SMEs sales and cash flow.
The bank said its Asto finance app will provide eBay customers a way to get accessible finance in a matter of clicks, to help them stay on top of their money and keep their cash flow positive.
Paolo Levoni, eBay chief operating officer, said: “eBay is passionate about helping small businesses succeed. We help power over 200,000 British SMEs, helping them grow through access to 180 million consumers in 190 markets across the globe.
“Our partnership with Asto is designed to help our business sellers efficiently access cash loans to help them expand and manage cashflow – our latest step in helping small businesses in the UK to thrive.”
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