The process is easy:
- Select your loan amount.
- Choose the percentage of your PayPal sales that will go toward repaying your loan and fee.
- If approved, receive the funds in your PayPal account within minutes.
- Repay automatically with a percentage of each sale until your balance is paid in full.
Does PayPal let you borrow money?
PayPal’s latest service, Pay After Delivery, gives people up to 14 days to pay for the stuff they buy. This means you can get a two-week loan from PayPal to make a variety of purchases, at no extra charge from the online payment company (though the fine print notes that third parties might charge you).
How do you qualify for a PayPal loan?
Loans from $1,000 to $300,000*
**To apply for PayPal Working Capital, your business must have a PayPal Business or Premier account for at least 90 days and process a minimum of $15,000 (or for Premier accounts $20,000) within those 90 days or within any time period less than or equal to 12 months.
How long does it take to get a PayPal loan?
Approved loans are funded within minutes, with repayments beginning 72 hours after the loan is received. PayPal requires you to repay at least 5% or 10% of your total loan amount every 90 days to keep your loan in good standing.
Does PayPal do cash advances?
PayPal offers a digital credit line that includes a cash advance option, PayPal Credit, formerly known as “Bill Me Later.” This service allows users to send money to friends and family, buy things online, and stretch payments over time.