PayPal’s small business finance scheme offers fast, flexible and affordable finance to small business owners.
These figures highlighted a 56% increase in the small business cash advances that PayPal supplied in the last 12 months.
In addition, PayPal Working Capital has seen 70% of cash advances issued outside of traditional banking hours.
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PayPal said that it already knew the applicant’s business and sales history, so as soon as the application was completed online, small business owners could receive a cash advance of up to £100,000 in just minutes.
The cash advance comes with no interest and just one fixed fee that borrowers are made aware of upfront.
Repayments are applied automatically as a fixed percentage of a business’ PayPal takings.
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