Let's see how much space PayPal can grap back on what should have been its natural teritory to expand as a front runner in innovation in payments, and on the back of that lending
Getting cash into the hands of small businesses is turning into a big business for mobile payments companies like Square and PayPal. Just yesterday, PayPal announced in a blog post that it's loaned $500 million to small businesses in the last 18 months, at a rate of $2 million per day, through its PayPal Working Capital program. The loans top out at 15% of their PayPal transactional volume, with a cap of $85,000. Business owners can apply online and have the funds deposited in your account within "minutes," PayPal promises. PayPal Working Capital so successful, PayPal says, that 90% of borrowers come back for another loan. PayPal gave the real-world example in its blog entry of a business using five Working Capital loans to boost holiday inventory over the last several holiday seasons.
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