Online merchants can find it on the PayPal Commerce Platform
According to Ecommerce News, PayPal has launched the PayPal Funding Pro solution for SMEs in France and the Netherlands. This way, SMEs will get a quick and easy access to growth capital.
New customers can apply for a loan of up to 130.000 euros while existing customers can get up to 160.000 euros in credit.
The loan that a business owner receives depends on their PayPal volume of sales. Indeed, after applying for a loan, PayPal is able to perform a quick credit check and makes a decision within minutes. It then provides the financing.
The payment solution company says that its solution promotes responsible lending, because repayments are tailored to the sales volume of the business. The SME automatically pays a repayment percentage of 10% to 30% per sale, without a fixed term.
To apply for the funding solution, the SME needs to have an annual PayPal turnover of at least 12.000 euros. Additionally, their PayPal business account needs to be at least 3 months old.
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