PayPal Goes Beyond Transactions. Innovative Small Business Loans for Growing Businesses

Paypal is the dominate online payment solution for small business owners. They’ve recently branched out and now also offer loans to their small business customers. Here’s a high level view of how it works:

  • It’s a business loan that enables PayPal merchants to repay the loan with a share of their PayPal sales, so there are no minimum monthly payments. If you have no sales on a particular day, you owe no payments for that day.
  • Select PayPal merchants can apply online, review and agree to the terms of the business loan and if approved, get funding into their PayPal account in minutes.
  • Pricing is simple and clear. The loan is available for a single, fixed fee that is displayed to a business before signing up. There are no periodic interest charges, late fees, pre-payment fees, or any other fees, so a merchant knows what they’ll pay, down to the penny.
  • Under the PayPal Working Capital program, the lender uses PayPal sales history to extend credit, so no credit check is required and the loan does not affect a business’s credit score.

Get the full details here.

As a small business owner there are several options you have for obtaining financing: credit cards, bank loans, crowd funding, friends and family and probably a few other options. Strategically and purposefully consider how you access capital for your growing business.

The following two tabs change content below.
Ramon Ray, Editor & Technology Evangelist, Smallbiztechnology.com . Editor and Founder, Smart Hustle Magazine Full bio at http://www.ramonray.com . Check him out on Google Plus, Twitter or Facebook

Leave a Reply

Your email address will not be published. Required fields are marked *