Fiverr $5000 Loan

I’ve talked to Fiverr staff and research Fiverr Forum‘s post and reply to write this article. I believe it will help a lot of people.

How to apply?

This feature is the most recent one and so far in the beginning phase. It’s appearing on the earnings page, named Cash advance. At this moment, it has been released to a few users which have been automatically chosen. However, the number of eligible users is limited and the users in question will be chosen based on the criteria set by the relevant department. The seller who takes the loan will need to sign a digital contract with Fiverr.

Step-1: Pop up

On the Fiverr Earnings page, you will find an information popup. If you want to decide later, click Not Now. To return again, go to your Fiverr Earnings page and click Get Cash Advance

Step-2: Amount & Fiverr Cash Advance Terms

You have to select the preferred amount for a cash advance from the drop-down list. Then click on Continue. On the Fiverr Cash Advance Terms page, you have to review the cash advance amounts, Fiverr Cash Advance Terms, and other necessary information. After that, you’ve to select the checkbox to confirm your agreement.

Step-3: Get Cash Now

You have to enter your full name (not Fiverr username) as your signature. Here’s your signature means you will stand by the terms of the agreement of Fiverr Cash Advance. Now click on Get Cash Now.

Step-4: Confirmation

When the cash advance process will be successfully completed, you will receive a confirmation email. This email will confirm and summarize your cash advance and includes a copy of the terms.

Minimum & Maximum Amount

The minimum amount to get is $500, and the maximum is $5000.

How I Can Back The Loan?

The sellers will have to pay Fiverr 40% of all their future earnings until they cover the amount received + Fiverr’s commission on the CA (cash advance). Once you complete paying back the funds you will be able to request another CA. You will always have the access to the status of your CA so you can keep track of your loan.

Example:

Item$US
Order amount1000.00
Standard Fiverr commission-2.0000
Net income800.00
Cash Advance payment
(40% of the pre-tax value on $800.00)
-320
Amount available for withdrawal480

Can I Withdraw IT or I have to Use It to Buy on Fiverr?

Yes, you can withdraw it through any payment method, eg. Payoneer. If you want you can also use it to buy on Fiverr.

If I Take $5000, How Much I have to Back?

If you receive $5,000, you have to return $5,681.So, Fiverr takes the amount of $681 for this service (13.62%). And every time you receive an order, Fiverr will cut the following amount until you repay $5,681.

Reference

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