PAYPAL LENDS £1BN TO UK SMALL BUSINESSES THROUGH ITS CASH ADVANCE SCHEME
March 8th, 2019.



PayPal has provided more than £1 billion in financing to UK small businesses through its Working Capital lending programme.


SME lending was up 60 per cent year-on-year. Back in May last year, PayPal announced that it had crossed the £625 million threshold. And that was up from £400 million in July 2017.

One in five out of the 116,000 cash advances made to date have been used to help companies grow.

PayPal-registered businesses can borrow up to £150,000 as a cash advance from the internet payments giant. Small businesses can borrow up to 30 per cent of their annual PayPal sales.

More than 37,000 businesses have borrowed money from the PayPal Working Capital scheme, which debuted five years ago. PayPal says its growth in small business lending comes at a time when traditional bank lending to small businesses is flat.

For the full story at growthbusiness.co.uk CLICK HERE.
https://www.growthbusiness.co.uk/paypal-lends-1bn-uk-businesses-cash-advance-2556038/