PayPal Working Capital
in Merchant Cash Advance from PayPal IncClaimed
|Loan Amount||Up to $125,000|
|APR (Fee or Charge Based Product)||N/A|
PayPal Working Capital Review
PayPal Working Capital is offered by PayPal Inc, founded in 1999 and based in San Jose, CA. PayPal Working Capital is available in 50 states (and Washington, DC).
Does PayPal Working Capital charge prepayment fees?
No, PayPal Working Capital does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the PayPal Working Capital off early.
What types of repayment method does PayPal Working Capital accept?
PayPal Working Capital accepts the following repayment method from the Merchant:
- Split withholding
- ACH withholding
How often does PayPal Working Capital process payments?
PayPal Working Capital processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to PayPal Working Capital as payment for your cash advance until the full amount is paid.
Does PayPal Working Capital charge an origination fee?
No, PayPal Working Capital does not charge an origination fee. A origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the total amount advanced. Whenever possible, go with lenders that don’t charge origination fees.
What is the minimum repayment amount required by PayPal Working Capital?
PayPal Working Capital requires a minimum payment of 5% of the total amount advanced from the merchant when the payment is due.
What is the estimated funding time for a merchant cash advance via PayPal Working Capital?
PayPal Working Capital can approve (or deny) a merchant cash advance application within 1 hour and fund your merchant cash advance within 0 business day of approval.
What are the business financing requirements for PayPal Working Capital?
To apply for PayPal Working Capital, you need to provide the following business documentation:
- Business license
- Business bank account
What do you need to qualify for PayPal Working Capital?Applicants with a credit score of at least 560 and up to 850 may be eligible for PayPal Working Capital. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
PayPal Working Capital does not have or does not disclose a minimum annual income eligibility requirement.
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 Working Capital. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by PayPal Working Capital. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Recent bank statements
- Business formation documents
- Proof of identity
What limitations does PayPal Working Capital set on the purpose of the merchant cash advance?
PayPal Working Capital considers merchant cash advance applications for business purposes, such as:
- Equipment purchase
- Product or service expansion
- Working capital
Other Services by PayPal Inc
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Origination Fee (%)||Starting at 0%|
|No Late Fees|
|Business Financing Requirements||
|Credit Score Range||560 - 850|
|Immigration Status Considered||
|Minimum Months in Business||12|
|Verification Documents Required||
|Intended Use of Funds||
|Approval Speed||1 hour|
|Credit Bureau Reporting||
|Funding Time Range||0 - 7 days|
|Payment Options||Automatic Payments|
|Loan Amount||Up to $125,000|
|Minimum Repayment Requirement||5%|