PayPal Surpasses $30 Billion in Small Business Lending Globally

PayPal has announced surpassing $30 billion in global small business loan originations since 2013, aiding over 420,000 businesses with more than 1.4 million loans and cash advances. This effort aims to fill the access-to-capital gap faced by small businesses, which are vital to the economy, accounting for 43% of the U.S. GDP. PayPal offers various financing solutions, including PayPal Business Loans and PayPal Working Capital in multiple countries, featuring a streamlined, quick approval process without extensive credit checks. These solutions allow businesses to manage inventory, payroll, and expansion needs effectively. Positive feedback includes improvements in sales and high customer retention, with Net Promoter Scores of 76 for PayPal Working Capital and 85 for PayPal Business Loans. This initiative particularly supports entrepreneurs from underrepresented groups, helping fuel business growth from small to multi-million dollar enterprises.