Funding Xchange team up to launch cash advance product for SMEs.

eCommerce-based SMEs on eBay can apply for finance from £1,000 to £50,000 as of today.

SME lending marketplace Funding Xchange have teamed up to launch the UK’s first fully automated cash advance product for online SMEs, powered by open banking.

SMEs trading via platforms like eBay or Shopify can now access loans of between £1,000-£50,000 through Funding Xchange’s marketplace, with repayments automated based on their monthly revenues.

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