PayPal is now offering Paycheck Protection Program loans to more than 10 million small businesses

PayPal is now offering Paycheck Protection Program loans to more than 10 million small businesses

PayPal is now offering Paycheck Protection Program loans to more than 10 million small businesses

PayPal is SBA approved and making PPP loans. Good option to add to list of lenders to try for small businesses.

From The Ledger – Fortune on 2020 04 10

PayPal would not confirm the total amount of money it has already agreed to lend to applicants, but said there is no cap on how much money it is willing to loan. Since 2013, the company has made more than 15billioninloansthroughitsPayPalWorkingCapitalprogram,makingPayPaloneofthetopfivesmallbusinesslendersintheU.S.Eachloanaverages15 billion in loans through its PayPal Working Capital program, making PayPal one of the top five small business lenders in the U.S. Each loan averages25,000 in size, far smaller than the loans offered by major banks, which tend to be upwards of $100,000.

Read more at The Ledger – Fortune