Wednesday, July 25, 2018

Paypal is a Serious Small Business Lender

Excerpt from an article by Bob Coleman
To read more, visit ColemanReport

"Paypal, Amazon and Alibaba pose more of a threat to traditional lenders than the Fintech industry.

As Fintech ebbs and flows, these high tech giants are starting to put up some serious small business lending numbers. Amazon just passed $3 billion.

Last year Paypal also topped $3 billion in small business lending in the United States.

In the US, PayPal offers two financing programs, including one that is similar to the UK program, which takes a percentage of merchants’ PayPal revenue and is underwritten primarily on PayPal sales without a credit check. The other program available in the US is closer to a conventional business loan, taking into account a variety of credit factors and repaid with weekly payments from a business bank account."

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