Paypal Working Capital Business Loan Review 2022 – Forbes Advisor

Business loan applications are approved or denied based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from the applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as business income. Meeting the requirements below does not guarantee approval, but they can help you decide if a personal loan is right for you.

Personal credit score

While most business loans check your personal credit score, PayPal Working Capital does not perform a credit check. There is no minimum personal credit score required to qualify.

Time spent in business

While many lenders require your business to have at least six months of business history to qualify for a business loan, PayPal only requires that you have a PayPal Business or Premier account that’s been open for at least 90 days. This can make qualifying for a PayPal working capital loan easier than other business loans.

Annual sales

To be eligible for PayPal working capital, you must have at least $15,000 in annual PayPal sales with a standard PayPal Business account or $20,000 in annual PayPal sales with a PayPal Premier account.

Other requirements

If you currently have a PayPal working capital loan, you must finish paying it off before you can apply for another loan.