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  PayPal Business Loan

PayPal Business Loan

in Business Loans from PayPal Inc

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PayPal Business Loan

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in Business Loans from PayPal Inc

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Highlights
Loan Amount $5,000 - $500,000
APR  (Fixed APR) N/A
Loan Term (Months) 3 - 13 months

PayPal Business Loan Review

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

PayPal Business Loan FAQ

What are PayPal Business Loan’s rates?

PayPal Business Loan offers a fixed APR business financing product but they do not disclose their rates.

Does PayPal Business Loan charge an origination fee?

No, PayPal Business Loan does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a business 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 PayPal Business Loan set on the purpose of the business loan?

PayPal Business Loan considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Hiring
  • Inventory
  • Marketing
  • Payroll
  • Technology Investment

What types of small business loans does PayPal Business Loan offer?

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

  • Unsecured Term Business Loans
  • Secured Term Business Loans

Does PayPal Business Loan charge a late fee?

No, PayPal Business Loan will not charge you a late fee. However, it does charge a $20 fee if a payment is returned due to non-sufficient funds.

Does PayPal Business Loan charge prepayment fees?

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

How much can you borrow from PayPal Business Loan?

Business loan amounts start at $5,000 and go up to $500,000.

What is the maximum business loan term you can get with PayPal Business Loan?

PayPal Business Loan offers small business loans with terms ranging from 3 to 13 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 PayPal Business Loan?

PayPal Business Loan requires companies to be in business for at least 9 months. Businesses must have a minimum annual revenue of $42,000 to be considered.

Applicants with a credit score of at least 550 and up to 850 may be eligible for PayPal Business Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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 PayPal Business Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by PayPal Business Loan. Permanent resident / green card holders are also eligible to apply.

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

  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does PayPal Business Loan report your account activity to credit bureaus?

Yes, PayPal Business Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  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

Application Fee $0
Late Fee Amount $0
No Origination Fee
No Prepayment Fee
Returned Payment Fee $20
Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 550 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 9
Minimum Revenue $42,000
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Employer Identification Number
Business Loan Type
  • Unsecured Term Loan
  • Secured Term Loan
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
  • Marketing
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Weekly
Payment Options Automatic Payments
Loan Amount $5,000 - $500,000
Loan Term 3 - 13 months

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