eBay and Zip have partnered to offer 40,000 Small and medium-sized businesses in Australia access to working capital through the eBay marketplace.
Zip business has been launched to give merchants the ability to purchase inventory and cover various costs for things like marketing. This offering will be huge for businesses that want to get ahold of online selling and survive during Coronavirus. The ability for small businesses to access cash to aid their growth is incredibly important for the economy and this will be the first in a series of integrated products and solutions planned to roll out as Zip Business is launched, furthering their solutions to support SMBs.
“Zip is extremely excited to formally launch its Zip Business platform to create a suite of products for the small business community, a segment that has been underserved by the traditional lenders in recent years. This comes at a time when Austalia’s small businesses are confronting the extreme challange of COVD-19, which has created enormous pressure on cashflow and ongoing business envestment. A thriving small business community is critical to the health of the Austalian economy and we are deeply committed to supporting the growth of these important businesses.”
– Peter Gray, Co-founder and chief operating officer, Zip