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Business

PayPal’s Small Business Lending ‘Accelerating’ On The Way To $1 Billion

PayPal CEO Dan Schulman inaugurates the company’s trading as an independent company on Nasdaq. PayPal’s small-business lending, started as an add-on for its merchants, has been growing rapidly.

ayPal-CEO-Dan-Schulmanpaypal-commerce-rewired

PayPal got into small-business lending almost two years ago as an add-on for its merchants, and in May the company said its total loans had surpassed $500 million, and that it was lending out $2 million a day in the U.S. alone. But with alternative financing expanding rapidly, and PayPal having an advantage with its captive audience of retailers, I wondered just how fast PayPal’s small-business lending was growing now.

Read the full story at FORBES,  by Amy Feldman

More news from PayPal

PayPal makes money transfers more personal Fortune

Dan Schulman, PayPal

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