Get approved in minutes and have instant access to your funds through Paypal Business Loans. Here, you won’t even have the hassle of remembering monthly bills.
Contents of the Article:
- What is Paypal?
- How do Paypal Business Loans work?
What is Paypal?
Determined to empower individuals and businesses to join and thrive in the economy, Paypal offers various products and industry solutions just for you. The brand is an innovative and technologically relevant platform you can use to access, manage, and move money anywhere and anytime. Furthermore, Paypal is all about providing premium financial services to its millions of account holders.
How do Paypal Business Loans work?
Before you apply for a Paypal Business Loan, the following qualifications must apply to you:
You must be at least nine months in business.
Your business must have an average of $42,000 or above in annual revenue.
You must have a Paypal Business Account.
Once you have qualified with the above, you can now proceed with the process of obtaining the loan:
Determine business eligibility
Paypal will require you to complete a brief online questionnaire to determine whether your business is eligible for a loan. This step will typically only take you less than 10 minutes.
Customize your loan
Once you have accomplished the questionnaire, you can customize the estimated loan terms by establishing the amount and duration of your loan.
Wait for approval
Submit the terms you have determined and wait for further approval.
Sign a contract
Upon approval, Paypal will require you to sign a contract through email. The agreement includes several bank instructions regarding regular payments that will be debited from your Paypal business account weekly.
Paypal can transfer the funds as fast as the next day after approval.