Do you know that so many online payment services are currently providing their eligible members with loan services? PayPal is among the listed services that offer businesses with loans or capital needed for their business. PayPal Loan Instant allows you to loan money that you can use to boost your business.
PayPal Loan Instant
There are two types of loan offered by PayPal which includes the PayPal working capital and the PayPal business loan. Please note that PayPal does not offer a personal loan for individuals only for businesses. PayPal loans come as PayPal’s working capital and also as PayPal’s small business loan. How to apply for PayPal small business loan requires some details.
Is my Business Qualify for PayPal Loan
There are certain criteria you need to have before you can apply for business loans which are;
- You need a business account or need to have a business account before you can apply for a loan. Moreover, your business account used to fund your loan.
- You need to have an account of more than 9 months in business.
- Your business account must generate total revenue of $42,000 or more.
- You need over 550 different industries served before you can be accountable for the loan.
How to Apply for PayPal Business Loans Online
To apply for Paypal Business loans online you need to do is visit the application portal on your web browser and fill out the requirement need to get a loan from PayPal. Simply, click on the link about to check your business eligibility.
- Next, you can request for the amount of loan you want o collect using the estimated eligibility range.
- Upload the required documents you need to provide on the page.
- Finally, you can get your loan deposited to your account of approval.
The Requirement for PayPal Working Capital
- You need to provide a PayPal Premier or Business account that’s up to 3 months or more.
- Your transactions on PayPal should be more than or at least $20,000 based on your annual sales.
- If you already borrow loans, you need to pay off your Working Capital loan.
To apply for Working Capital Loan
- Visit the link www.paypal.com/workingcapital/ on your web browser.
- Then, click the Apply Now icon.
- Sign in to your PayPal Business account.
- Fill out the requirement you need to provide to complete the requirements for a working capital loan.
Hope this information was useful, do not forget to use the comment box below to ask your questions.