PayPal Has Lent $10 Billion to Small Businesses
Apparently, PayPal has lent $10 billion to a number of small businesses in a variety of countries around the world over around the last five years. This includes this type of business here in the UK.
In that timescale, PayPal has financially supported over 225,000 small businesses by providing over 650,000 loans in certain countries around the world. Advances range from $1,000 to $500,000. They have provided funding for a variety of purposes with funds being made available on approved applications speedily.
Back in March of this year, PayPal announced that it had provided cash advances to over 37,000 small businesses here in the UK totaling £1 billion over a period of 5 years. Applications are made online with a speedy response being given and funds quickly being made available.
We are sure you will agree that the more options that small businesses have to be able to source suitable funding the better. Here in the UK, there are so many providers of finance to the small business sector. Long gone are the days when it was, in the main, just the major high street banks that provided loans and other types of finance to small businesses. Nowadays there are a variety of specialist lenders to support small businesses here in the UK.
So, how do you go about sourcing suitable finance if you are the owner of a small business? Well, a lot of people merely get in touch with the bank where the business current account is maintained and speak with a business manager. However how do you know if you are getting a competitive deal? You could spend quite a lot of time in contacting other banks and lenders including going on the Internet but would your time not be better spent in the day to day running of your business?
So, why not get in touch with us here at Commercial Mortgage Link and we will put you in contact with a broker who has many years experience in sourcing suitable finance from an extensive panel of lenders. He or she will be able to discuss your requirements and assist in packaging and submitting a finance application. We look forward to hearing from you.