www.paypal.com/bizloan1 – Open Business account at PayPal- Apply for PayPal Business LoanGuide
PayPal has truly redefined the money transfer and transaction. This digital platform enables money transfer and saving effectively like a child’s play all within the super secured vigilance. PayPal requires you to create an account by giving personal details, identification details, occupation, bank details and many more to create an account and enjoy the digital wallet service. With PayPal app, you can now carry your money in your pocket without hassle of paper cash. From being a digital platform to transfer and receive money, PayPal has come a long way. It now offers it’s debit and credit cards, business account for the commercial owner and even business loans!
If you are the owner of a commercial establishment, you can create a business account with PayPal and apply for PayPal Small Business Loan. Expand your business or start a new venture with PayPal with range of working capital and traditional term loans. And if you are tired of the complicated terms, conditions, hidden eligibility criteria of a bank, PayPal is here to offer you relief with simple eligibility criteria.
Eligibility to apply for PayPal Small Business Loan
The agreement structure is quite competitive. Currently, small business loan ranges from $5000 to $50,000. PayPal Business Loan is making financing simple. Check out the eligibility criteria to apply for Small Business loan:
- Must be 18 years or more.
- Must be a legal resident of the United States of America.
- Must have a PayPal business account.
- Must have actively run a business of at least 9 months.
- Must generate at least $42000 total annual revenue.
- Must not have any ongoing bankruptcy.
- Must have your location or address within 50+ states of the USA.
- Must have at least 550 FICO scores.
Note: Some of the industries and ventures do not qualify for loan applications. Please check through the questionnaires to check the list of non-eligible business during application.
The best thing about PayPal Small Business loan is that it will take just one minute (maximum), to check the eligibility. Also during the questionnaire, PayPal will look through your credit score which will definitely not affect your points.
In case, you do not have a PayPal business account, then you can check your eligibility as a guest user. However, your loan would not be processed as long as you do not have PayPal business account. Fund will be credited into the PayPal linked account, so it is necessary to have a business account first.
Why choose PayPal Small Business
Factors that make PayPal Small Business Loan stand apart from other microloans are:
- No late fees.
- No additional charges.
- Check eligibility in minutes.
- Fund transfer within the next business day after completing the application.
- Zero processing fees.
- Zero early repayment fees.
- The flexibility of choosing the loan amount anywhere between $5000 to $500,000.
- Flexibility to choose the loan repayment terms (13 to 52 weeks), based on your business requirements.
- Automatic weekly payment directly debited from your account.
PayPal is contributing to foster spirit entrepreneurship with such a wonderful scheme. Do not delay and get started with the process of application.
- Open your browser and visit www.paypal.com/bizloan1.
- Click Check Eligibility (below Watch how it works).
- If you have a PayPal Business account, click on Continue with PayPal account. Enter your email address/phone number and password. Go to your account and answer simple online questionnaires related to your business, purpose of the loan, annual turnover, etc. PayPal requires some more information, before subsequently approving your loan application.
- If you do not have a business account, you can at least check the eligibility, come back later and open your business account to reapply. For that, click on Continue as a guest. Type in some basic information like name, phone number, primary loan purpose, annual income, etc to check your eligibility. You can create your business account right away to continue with your application, or you can back anytime to create an account.
In case, you already have a business account and would like to apply via telephone, call the Business Expanding Expert at the number 1-800-941-5614. Instead of doing it online, you need to complete your questionnaire on the telephone. So keep the relevant business information like turnover and income near your hand. You will be informed by the expert after the completion of the same call. And your fund will be credited within next business day. The business Expert team is available from 9:00 a.m. – 8:00 p.m. ET, from Monday to Friday and on Saturday, from 11:00 a.m. – 3:00 p.m.
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Contacting PayPal Customer Service
In case, you are facing any technical or transaction-related issue o want to shoot your query, an elaborate system of assistance desk is there to look through your concern. All you need to do is directly visit www.paypal.com/us/smarthelp/contact-us you can either type your issue to get answers in the FAQ section, you can log in and select department wise for appropriate contact channel region wise.