PayPal Working Capital – A Borrowing Option For Some Businesses
There are a number of sources of finance for businesses ranging from the traditional high street banks to peer-to-peer lending platforms. However, one that you may not have come across is PayPal Working Capital.
This source of business finance may be suitable for merchants that have a good long-standing record of sales through PayPal. Some of the criteria are that you must have held for a minimum period of 3 months a Premier or Business account with PayPal and be registered here in the UK. You must have at least processed annual sales of £9,000 if you have a Business account and £12,000 of annual sales if you have a Premier account.
The amount that you can borrow is based upon your account operation and the amount of sales via PayPal. The monies can be used by your business for any purpose such as to meet a working capital requirement.
The borrowing is repaid by deducting an agreed percentage of your sales but it is also possible to make additional repayments.
It is good to hear that the funds are paid into your PayPal account within minutes of the lending facility being made available to you.
Obviously, it is important that, if you are considering a PayPal Working Capital facility, you also compare it with other lending products that are available to your business from the likes of banks, building societies, specialist lenders and peer-to-peer lenders to ensure that you have every opportunity of obtaining the most competitive business lending package available.
Here at Commercial Mortgage Link, we can introduce you to a specialist commercial mortgage broker who has many years experience in assisting businesses obtain the most suitable lending scheme to meet the needs of the business. So, why not get in touch with us in this respect without any obligation to start the ball rolling. We look forward to hearing from you.