Can someone explain advance pay to me?

[roxanam84]

What’s the maximum amount?

[wordsfire]

Okay…

They once again left me out of their try this new feature thingy. ⚓

[ggarg96]

And from each order 40% will be deducted - 20% is their usual fees and 20% is used to repay the loan.

One correction.

They mention “the pre-tax amount”, so 40% will be taken from cleared funds after deducting 20%.

Yes you are correct.

Also I don’t think its worth going for this. If the interest rate was on monthly basis, it would have been somewhat beneficial. But interest rate p.a. increases the higher your earning is.

[shamimhoque]

This is what I have understood so far-
You take 5,000 now, you will have to pay back 5,681 total. After taking your loan, suppose you complete your first project valued $125 and Fiverr deduct 20% fee as usual, then the earning is $100. Fiverr will now deduct 40%, so $40 from your earning and you have $60 now. If there is any Tax in your country, that will be effective on that $60. If not, then you are getting $60 in your balance and you have paid $40 for your loan, now you have $5,641 loan. It continue like this and when your full loan is paid, you are debt free.

[bashir_expert1]

it seems another new revolution for fiverr. great idea indeed

[clippin_expert]

So what is the advantage of this new feature? :thinking:

[shajahanali]

Who will get this opportunity?

[antorroy]

Yes exactly, and the sellers pay 13.63% fees. I received this message now… looks like that every sell instead of charge 20% will be charged 40% to give back the loan.

How can I get this loan?

[grownew]

Where i find this option?
Can you please tell me what requirements need to get this loan?

On 2/18/2021 at 3:31 AM, cynicalking said:

No, this is a new feature appearing on the earnings page, named Cash advance.

How i get this feature? And where i see this feature?

On 2/18/2021 at 3:33 AM, shamimhoque said:

This is what I have understood so far-

You take 5,000 now, you will have to pay back 5,681 total. After taking your loan, suppose you complete your first project valued $125 and Fiverr deduct 20% fee as usual, then the earning is $100. Fiverr will now deduct 40%, so $40 from your earning and you have $60 now. If there is any Tax in your country, that will be effective on that $60. If not, then you are getting $60 in your balance and you have paid $40 for your loan, now you have $5,641 loan. It continue like this and when your full loan is paid, you are debt free.

What is the requirements for get this feature?

On 2/18/2021 at 4:00 AM, mateusbl said:

Yes exactly, and the sellers pay 13.63% fees. I received this message now… looks like that every sell instead of charge 20% will be charged 40% to give back the loan.

Can you please tell me what requirements need to get this loan?

[mint_creations]

Can you please tell me what requirements need to get this loan?

Fiverr has already pre-selected those who qualify. If you do not see the green cash advance button in your earnings page, then you can’t access it.

[khanshohag603]

what is the requirement for eligibility?

[iramwpexpert]

Can someone explain me is it helpful or not?

[grownew]

Fiverr has already pre-selected those who qualify. If you do not see the green cash advance button in your earnings page, then you can’t access it.

Can you send me screenshot please

[iramwpexpert]

Good to hear! who will get this opportunity?

[pochacheleash]

only for Top Rated seller.
haha.

[genuineguidance]

On 2/18/2021 at 6:31 AM, imagination7413 said:

That’s debt. And credit. If Fiverr wants to turn into a ‘payday lender’ (loan shark), I’ll be leaving immediately.

You took the words right out of my mouth. I read this and immediately thought “Payday Lender” - even though their % is not anywhere near a payday lender’s rates (usually 300%!), no need to give Fiverr 40% of my income.

They are just coming out with all sorts of money making ventures ( for them, of course ). LOL

GG

[krheate]

This is a new feature that Fiverr has added. You basically loan money from them, and then you have to pay it back (and a little extra) from your earnings!

In my opinion, it’s not a good feature because debt is never something good to have.

You can find more info and other’s thoughts about the feature here: Can someone explain advance pay to me?

[asifhassanantue]

Is this feature available for only Top Rated Seller? What is the requirement for eligibility?

[geekjay]

Fiverr now offers loan to sellers. While some people think it’s bad, some other persons think it’s a good idea. Well, it all depends on your needs.

I think if you need an urgent cash it’s not a bad idea getting it from your employer. 😀

[sunnyadi]

Good to hear! who will get this opportunity?

Fiverr select seller’s based on order/revenue history.

[mirsubfazlani]

Is this feature available for only Top Rated Seller? What is the requirement for eligibility?

I think it’s for level 2 and TRS. Just a hunch.

[chrisdata]

This feature make me feel uncomfortable.

[birendranath]

Have you taken loan? Can we withdraw?

[fahadmustafa840]

It’s not like they’re taking 40% on top of what they’re “loaning” - it’s being used to pay back the advance.

thanks for explaining, that’s what I was confused about 🙂

If i withdraw 5000/ and i'll pay . 5681/ right …this will be 13.6% , and what about the 40% ?they will deduct from your daily earnings …

40%+13.6% deduction ?? It’s make me confused

[only1amjad]

I’m TRS. I don’t have that. Still waiting for it.