Paypal customers that have a business and are in need of additional financing can apply for a PayPal business loan online at www.paypal.com/bizloan1. Loans are offered to qualified customers in the range from $5,000 to $500,000.
How To Apply For Paypal Business Loan
There are 2 ways customers can apply for the Paypal Business Loan which are online and by telephone. The telephone option is to call customer service and speak with a Business Funding Expert via the following info:
- Call – 1-855-975-6836
- Monday -Friday 9am to 8pm Eastern standard time
- Saturday 11am to 3pm Eastern standard time
To apply for a business loan online users will need to visit the online website and complete the application:
***If you have a Paypal account click dark blue “Continue with Paypal account” button otherwise click “Continue as guest” button
***If you click “Continue as guest” button you will be redirected to www.loanbuilder.com to begin 5 step application process involving completing your:
- Contact info
- Personal info
- Business location
- Business details
- Verify identity
After you’ve finished the application process at www.paypal.com/bizloan1 which can take from 5 to 10 minutes your estimated loan terms will be revealed. You will have the opportunity to agree to the terms and if they meet your approval then your credit information will be checked. Your credit score will not be checked until everything meets your approval.
After you give the approval then your credit history is checked which could impact your credit score. The last step will be electronically signing a contract that will be emailed to you with instructions on how your repayments will be structured.
Paypal Business Loan Highlights
- Loans from $5,000 to $500,000 with terms from 13 to 52 weeks
- Customized options to meet your business needs
- Single fixed fee pricing with predictable payments
- No upfront fees of any kind and no early repayment or late fees
- If approved funds are deposited into your paypal account as fast as the next business day
- Loan repaid weekly that are withdrawn from your business’s bank account automatically
- The lender for the PayPal Business Loan is WebBank, Member FDIC