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PayPal Has Entered the Small Business Lending Market

September 26, 2013

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A new player has entered the small business lending market, and bank and credit unions should take note.  As reported by Sean Sposito in the American Banker article, PayPal Offers Small Business Loans, the digital arm of Amazon is targeting its merchants to offer small business loans.

The American Banker article reported, “It’s a scary prospect for banks that have traditionally looked at PayPal as a frenemy… (PayPal is) using its own data about these companies to determine their creditworthiness (information typically unavailable to bank and credit unions).”

Click on the below link to learn more about the PayPal small business lending strategy, which is currently in its pilot stage.

American Banker Article: PayPal Offers Small Business Loans

Sept 24, 2013

By Sean Sposito

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