PayPal offers a variety of ways for consumers to borrow money including business loans, PayPal Credit, and even cash advances. While PayPal does not offer personal loans, the following options are ways that PayPal can lend you money:
· PayPal Credit allows you to buy now and pay later with a digital, reusable credit line that can be used anywhere PayPal is accepted. · PayPal Working Capital is a type of business loan that allows applicants to use their PayPal sales to repay the loan and fixed fee. A minimum payment is required just every 90 days, and there are no periodic interest charges, monthly bills, late fees, penalty fees, or pre-payment fees. · PayPal Business Loans are traditional fixed-term installment loans that make borrowing money for your business simple and easy. These loans give qualified applicants fast access to cash, competitive rates, and minimal fees. · PayPal Credit cash advances are available in very limited situations. Once you have a PayPal line of credit, you can take out a cash advance interest-free (if paid in full by the due date). However, you can only use this cash advance feature to send money to friends or family. · Last but not least, PayPal offers the PayPal Cashback MastercardÂ which allows consumers to shop anywhere Mastercard is accepted and earn 2% cash back on every purchase. Like PayPal Credit, account holders are able to access cash from their PayPal Cash Back MastercardÂ by getting cash from any participating ATM.