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LoanBuilder

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in Business Loans from PayPal Inc

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Highlights
Highlights
Loan Amount $5,000 - $50,000
APR  (Fixed APR) 6.49% - 99%
Loan Term 3 - 12 months

LoanBuilder Review

Where does LoanBuilder do business?

LoanBuilder is a business financing offering by PayPal Inc, based in San Jose, CA. Founded in 1999, PayPal Inc offers access to business loans in 50 states (and Washington, DC).

What are LoanBuilder’s rates?

LoanBuilder offers a fixed APR business financing product that ranges from 6.49% APR up to 99% APR.

Does LoanBuilder charge an origination fee?

No, LoanBuilder does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does LoanBuilder set on the purpose of the loan?

LoanBuilder considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of business loans does LoanBuilder offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. LoanBuilder provides access to the following business loan types:

  • Secured Term Loans

Does LoanBuilder charge prepayment fees?

No, LoanBuilder does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from LoanBuilder?

Loan amounts start at $5,000 and go up to $50,000.

What is the maximum loan term you can get with LoanBuilder?

LoanBuilder offers business loans with terms ranging from 3 to 12 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for LoanBuilder?

LoanBuilder requires companies to be in business for at least 9 months. Businesses must have a minimum annual revenue of $3,500 to be considered.

Applicants with a credit score of at least 550 and up to 850 are eligible for LoanBuilder.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LoanBuilder. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of identity

What is the estimated funding time for a business loan via LoanBuilder?

LoanBuilder can provide a credit approval decision in less than an hour and fund the loan within 1 business day.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Returned Payment Fee Starting at $20
Credit Score Range 550 - 850
Immigration Status Considered
  • U.S. Citizen
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business 9
Minimum Revenue $3,500
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $5K - $50K
Loan Term 3 - 12 months
APR (Fixed APR) 6.49% - 99%

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Maximum Loan Amount $125K Maximum Loan Amount
APR 36% - 120%
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Loan Term (Months) N/A Loan Term (Months)