never use youlend to borrow money for you amazon business.
Never use YouLend—this company will stress you out. They never clearly explain the terms and conditions of the money you are borrowing from them. They start calling you the very next month to begin repayment. I have never had this issue with Amazon. Also, the interest rate is extremely high. For a £30,000 loan, I had to pay £7,000 in interest in one year.
Even if your business is a limited company, you still have to give a personal guarantee as a director.
If your sales go down even a little, YouLend’s customer service will call you three times a day, every day, to make sure you keep up with the instalments. They send threatening emails, and no matter what you do, you have to pay—there is no leniency like there is with Amazon loans.
Please never make the mistake of using this company, or you will regret it.
never use youlend to borrow money for you amazon business.
Never use YouLend—this company will stress you out. They never clearly explain the terms and conditions of the money you are borrowing from them. They start calling you the very next month to begin repayment. I have never had this issue with Amazon. Also, the interest rate is extremely high. For a £30,000 loan, I had to pay £7,000 in interest in one year.
Even if your business is a limited company, you still have to give a personal guarantee as a director.
If your sales go down even a little, YouLend’s customer service will call you three times a day, every day, to make sure you keep up with the instalments. They send threatening emails, and no matter what you do, you have to pay—there is no leniency like there is with Amazon loans.
Please never make the mistake of using this company, or you will regret it.
12 replies
Seller_pYsaXHjXOfdem
Absolutely, do not use YouLend. We used to get non-stop offers on our e*ay account. Absolutely extortionate interest rates for just 6 months borrowing. AND on e*ay you had to let them get paid your TOTAL sales directly from e*ay, YouLend would then deduct their repayment and send you the remainder. NO WAY!
Speak to your bank, or just take out a credit card and buy your stock on that.
Seller_hxqQBzV7Gdd5b
Youlend are an awful company, dont know why amazon partnered with them.
Seller_540qgZMXuuXdD
I receive lots of offers from YouLend. Thanks for your heads-up.
I was just curious, and I read it as you pay an upfront fee, and then they take a set percentage of each disbursement. It seem s like that’s not the case?
Seller_gm4dtnwkbHJUi
D O N' T EVER E V E R USE them....DON'T
Seller_DfMOm9tgJKAex
From my opinion I disagree, ive used them twice without issue
are there cheaper options - yes, but the costs are made very clear up front
in both cases I had the money in 24hours, payments went smooth and had no issues
Seller_0AG9i8qKfX9Eu
i did wonder a while back and i was constantly getting offers on our dashboard i decided just to look at it to see what it was about, one day i enquired but then decided i wasnt interested for the time being. They kept calling my constantly to try get me to get a loan, it was like sales calls and it was at that point when i realised there was something not good and i just stopped answering any communications till they went away.
so reading this doesn't surprise me but good to get the heads up.
i have thought often after that experience "why the hell are amazon partnering with them" they appeared too rouge
Seller_iUcF35YSDwxDs
I used them for my other business a few years back.
Daily harassment to take out further loans, and 2 missed payments on my personal credit file, despite never missing a payment.
You are better off never touching them.
Seller_1CE26kYHhB0tr
To start with, I thought YouLend seemed like a straightforward way to get a loan to help with cash flow. However, I now massively regret using this company.Even though my sales have remained consistent—and are at or above the level they were when I took out the loan—I’m being harassed and told that I’m behind on payments. For context, I took out a £14,000 loan towards the end of September last year, and I’ve already repaid approximately £7,000. That’s half the loan in less than five months.You’d think that would be an acceptable rate of repayment, but apparently not. YouLend has now sent me two emails demanding more money. Just yesterday, they asked for an additional £3,700!I’ve never defaulted on a loan payment in my life, and yet these clowns make me feel like I’m underpaying or defaulting. I will never use them again, and I strongly suggest others avoid them too.One final comment: it’s obvious most of the Trustpilot reviews are fake. The majority are vague, generic praises, while the detailed and well-written reviews all seem to be one-star. That speaks volumes.AVOID.
Seller_Fg2fqaWOnEtha
I have done it and I hope never to be in the position to have to do it again. They gave me a fix amount to pay weekly but then they started to take random amounts even 3 times more than what was agreed. The fact that my eBay account is doing better is a safety net which I hope will prevent another cash flow crisis.
