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I haven't seen anyone talking about this so I figured I'd give share my experience with you.
Paypal has now lent over $1 billion dollars to small businesses that have had an account for over 12 months and that have processed at least $20,000 per year through their account. About a year ago I received an email from Paypal inviting me to try the service. I did my due diligence, looked up reviews and finally went through the 2-3 steps to apply for working capital. I was surprised to see that I was offered $20,000 at the most and around $5,000 at the least, they have one set fee (no interest rates) which varies based on the amount you take and your payback percentage. For instance, I was offered up to $20,000 and could choose between 10%, 15% or a 30% repayment schedule. The day after you process a payment through your account Paypal will automatically take the percentage you choose from your account and apply it to your "loan", there are typically no minimum payments and no payback schedule..you only make payments when you have sales. It's also important to note that Paypal offers 15% of your annual sales processed through them up to $85,000.
Paypal does not check your credit score nor do they report to a credit bureau. This is solely based on your sales volume and repaid through your sales.
At the time I wasn't in need of money but figured I would accept an offer of $10,000 from them at a 20% repayment fee, my flat rate fee was around $350. Within seconds of clicking "accept" after I read the fine print (I honestly couldn't find any negatives since they know your sales and hedge their risk) the money was in my account...literally within 5 seconds. I used the money to pay renewals in advance, purchased more domains and the entire loan was repaid within a few months. I've since taken 2 other "loans" for 15k and 20k and each have had small flat fees, the fees actually seem to go down over time.
Although I didn't need the money at the time it does come in handy for large domain purchases that I can pay off over time with a small flat rate and also to pay down renewals, etc. Hope this comes in handy for you.
Paypal has now lent over $1 billion dollars to small businesses that have had an account for over 12 months and that have processed at least $20,000 per year through their account. About a year ago I received an email from Paypal inviting me to try the service. I did my due diligence, looked up reviews and finally went through the 2-3 steps to apply for working capital. I was surprised to see that I was offered $20,000 at the most and around $5,000 at the least, they have one set fee (no interest rates) which varies based on the amount you take and your payback percentage. For instance, I was offered up to $20,000 and could choose between 10%, 15% or a 30% repayment schedule. The day after you process a payment through your account Paypal will automatically take the percentage you choose from your account and apply it to your "loan", there are typically no minimum payments and no payback schedule..you only make payments when you have sales. It's also important to note that Paypal offers 15% of your annual sales processed through them up to $85,000.
Paypal does not check your credit score nor do they report to a credit bureau. This is solely based on your sales volume and repaid through your sales.
At the time I wasn't in need of money but figured I would accept an offer of $10,000 from them at a 20% repayment fee, my flat rate fee was around $350. Within seconds of clicking "accept" after I read the fine print (I honestly couldn't find any negatives since they know your sales and hedge their risk) the money was in my account...literally within 5 seconds. I used the money to pay renewals in advance, purchased more domains and the entire loan was repaid within a few months. I've since taken 2 other "loans" for 15k and 20k and each have had small flat fees, the fees actually seem to go down over time.
Although I didn't need the money at the time it does come in handy for large domain purchases that I can pay off over time with a small flat rate and also to pay down renewals, etc. Hope this comes in handy for you.
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