Fiverr Giving me $1000

HoNeYBiRD said:
Which part exactly?

Fiverr judges seller performance by selling history. To unlock this perk, sellers need to keep earning a certain amount on average to qualify for the increasing amounts of cash advance up to $5k. If a seller earns $1k/month on average for a while, the maximum amount of cash advance will be $2k. If Fiverr finds a seller to be worthy, they give him/her the opportunity of cash advance. It's not automatically available. If the seller accepts it and spends the money to better or expand his/her service, that can yield in more orders, which means more money for both the seller and Fiverr. If the loan doesn't translate to more sales than usual, Fiverr still makes money on the interest.
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You are a good Dude and offer good quality content all the time.
 
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Only IF you have a solid plan, otherwise there is no point.


Fiverr is giving away some free/cash for reviews/fake... Cool, cool...
[I'm trying to look like, you know, I'm smart, sharing "smart" ideas]

:anyway:
 
I think 136$ is too much for any freelancer. So if you really need this money to grow your sales and recover it, you can accept, If not then let it go.
 
Dont take it, you will not earn anything all of your earning will go to fiverr leavng you behind with 40%/ I took a loan of 5000$ from fiverr and I know how i repayed it.
 
I will never take this unless of course you are in dire need of the money. Sounds like a debt trap to me.
 
HoNeYBiRD said:
Which part exactly?

Fiverr judges seller performance by selling history. To unlock this perk, sellers need to keep earning a certain amount on average to qualify for the increasing amounts of cash advance up to $5k. If a seller earns $1k/month on average for a while, the maximum amount of cash advance will be $2k. If Fiverr finds a seller to be worthy, they give him/her the opportunity of cash advance. It's not automatically available. If the seller accepts it and spends the money to better or expand his/her service, that can yield in more orders, which means more money for both the seller and Fiverr. If the loan doesn't translate to more sales than usual, Fiverr still makes money on the interest.
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If you plan on quitting Fiverr could you take this loan right before you quit and simply never pay it back?
 
That's suck. Fiverr will deduct 40% from every sale.

First of all you will pay 20% fiverr tax and then 40% more.

It's mean if you got $100 order, after deduction U'll get $48 only.
 
That's nearly a 14% interest rate which is fairly high.
The no-brainer would be to say no unless your other loan that you mentioned has an interest rate that is higher than 14%.

You would then obviously take the Fiverr loan pay your other loan off.
 
Weby said:
If I get this offer I take it without any hesitation
pls note "for every sale they take 40% to repay the loan", which means they definitely will push your service to cover their investment, no one wants to risk their investment so it's a win-win situation; you get sales, they get a commission
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exactly, this in fact will push him more in the market, they will put him more in infront of people, i think its a win win situation, and you still would get money - 60% , its not that they take every profit you make until the loan is payed, better to won a law on fiverr than on bank.
 
fheaky said:
If you plan on quitting Fiverr could you take this loan right before you quit and simply never pay it back?
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Fiverr doesn't give the cash advance to just anyone. If you make a consistent amount from month to month, would you quit this consistent money maker just because you get two months worth of earnings in advance? It can happen, but it's not likely.

I can also imagine, that you can't owe them indefinitely and this would work similarly to a PayPal negative balance. If the cash advance is not paid back in full until a deadline, Fiverr would try to collect it probably through the linked payout methods (PayPal, Payoneer). If they can't, it would be passed to debt collection. A debt collector would try to collect on the behalf of Fiverr. They could also buy the debt, so you would owe the collector directly and not Fiverr anymore.

If 9 out of 10 person pays the advance back in full, Fiverr already turned a profit just on the 13,6% interest. This doesn't include the presumably increasing sales performance due to the advance being spent to boost the performance.
 
If you need money emergency you can take it. Otherwise, you should leave it (You'll lose 136).
 
india said:
Today I got a notification that they are giving me $1000 advance. Its kind of loan.

But they will take $136 extra for the finacing. Do you think its good offer?
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How much have you earned from Fiverr as of yet?
 
Recognize that the moment you accept it you actually pay 136$.
This is not really a good deal.
 
yio said:
How much have you earned from Fiverr as of yet?
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1650637969993.png

This is 12 years earning approx. but I was not using Fiverr for 4-5 years as I was busy in other full time work. I restarted using Fiverr since pandemic begun. When I had no money to buy grocery in pandemic Fiverr saved me.
 
india said:
View attachment 208449

This is 12 years earning approx. but I was not using Fiverr for 4-5 years as I was busy in other full time work. I restarted using Fiverr since pandemic begun. When I had no money to buy grocery in pandemic Fiverr saved me.
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I see. That's fantastic!

Seems like people need to earn quite a bit before Fiverr offers them a loan, lol.
 
HoNeYBiRD said:
Fiverr doesn't give the cash advance to just anyone. If you make a consistent amount from month to month, would you quit this consistent money maker just because you get two months worth of earnings in advance? It can happen, but it's not likely.

I can also imagine, that you can't owe them indefinitely and this would work similarly to a PayPal negative balance. If the cash advance is not paid back in full until a deadline, Fiverr would try to collect it probably through the linked payout methods (PayPal, Payoneer). If they can't, it would be passed to debt collection. A debt collector would try to collect on the behalf of Fiverr. They could also buy the debt, so you would owe the collector directly and not Fiverr anymore.

If 9 out of 10 person pays the advance back in full, Fiverr already turned a profit just on the 13,6% interest. This doesn't include the presumably increasing sales performance due to the advance being spent to boost the performance.
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Interesting debt talk, hmmmm.
 
Well in your case i will took the money as its not lile a house loan or bank and i can boost my business with that money etc .And taking me 136 dolars its not so much
 
Like all the people are saying if you can make this worth it then you should take it otherwise its better to leave it.
india said:
View attachment 208449

This is 12 years earning approx. but I was not using Fiverr for 4-5 years as I was busy in other full time work. I restarted using Fiverr since pandemic begun. When I had no money to buy grocery in pandemic Fiverr saved me.
Click to expand...
And it seems like you are already earning a good amount from Fiverr so why would you want to take it?
 
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