Quick and affordable business financing, a fixed-rate term loan based on a thorough analysis of your company. If your company is qualified to apply and is granted a loan, monies can be disbursed as soon as the following business day.
Select the term and payment that are ideal for your company, and then have the loan repaid automatically with regular weekly payments. Depending on your eligibility and loan amount, loan terms might range from 13 to 52 weeks.
How PayPal Business Loan worksWhat you need to know before you apply.
How to apply for a PayPal Business LoanStep 1You’ll be asked to confirm business and contact information. Seeing if your business is eligible will not affect your credit score.
Step 2The lender may ask you to upload additional information to complete your application. Most PayPal Business Loan applications do not require any financial documentation.
Step 3If approved, agree to the loan terms and the lender transfers funds to your PayPal Business account as fast as the next business day.
How does PayPal Business Loan work?You must complete a 5-10 minute online questionnaire to determine your business’s eligibility. Your application may take longer to complete if your identity cannot be automatically verified.
Once the questionnaire is complete, estimated loan terms can be customized by adjusting the loan amount and duration to compare the costs of financing.
Once you select your desired terms and complete your application, if approved, you will be prompted to electronically sign a contract including bank instructions so that payments can be debited weekly from your business checking account.
Most PayPal Business Loan applications do not require any financial documentation. Some applications may require additional documents.
If approved, funds are transferred as fast as the next business day (provided the application is approved by 5:00 p.m. Eastern Time on bank business days).
Completing the questionnaire will assess your business’s eligibility, allow you to review estimated offers if eligible, and will not impact your credit score. Should you decide to complete the loan application process, credit checks and other public records checks will be performed, which may impact your credit score.
Loan durations range from 17 to 52 weeks, depending on your eligibility and loan amount.
How do I repay a PayPal Business Loan?
PayPal Business Loan has weekly payments that are withdrawn from your business's bank account automatically. You provide account information and select your preferred payment day when you sign the loan contract. Automatic repayment will occur weekly and you will not be able to adjust how often you pay. You will be able to choose the day of the week payment is made.
Source: Paypal
