You might be asking and wondering what are requirements for you to get a Paypal loan, don’t worry into this article we are going to show you the requirements to get a Paypal loan instantly.
so before we drive into that basically we’re going to outline what a PayPal account is and how to get one, but you can always skip to what you are looking for.
What is Paypal
Basically PayPal is an online payment system which makes sending and receiving of money fully secured and safe. With paypal you can link up a bank card and make purchasing from other stores and vendors possible using your PayPal account.
How to create or Setup a Paypal Account
Creating a PayPal account is very much simple all you just need to do to follow the steps below and read carefully.
There are two types of PayPal account that you can create,
- Personal PayPal Account
- Business PayPal Account
To create a personal or business PayPal account is quite simple, all you need to do is to follow the steps below and when it’s time to choose which account type then you can either go for Personal or Business account.
- firstly, you want to head up to locate PayPal website then you click on sign up bottom at the top right corner of the site.
- Then you can select the account type you want to create – either personal or business account, then you click on Next
- Then you would be prompted to input your phone number and then verify it by the code that would be sent.
- Then you will have to Add your full name, email address and password – then click Next
- Then Add your address and other info required of you.
- Then verify your email address through the link that would be sent to your email address.
PayPal Business loan Requirements
To be able to request a loan from Paypal, you must have a fixed-term loan based on a full picture of your business that
you automatically repay with a predictable weekly payment. This is required to ensure that you are able to pay back this loan.
NB; This loan solely implies to business accounts alone.
How to Apply for PayPal Business Loan
Applying for a PayPal loan as a business account isn’t way difficult as you might think all you just need to do is just to follow the steps below and read it carefully so you don’t miss out on anything.
- Check Eligibility in 1 minute by filling out this form here
- Choose the loan terms and amount that goes well with your business.
- After a successful application, if it gets approved then you will get the funds into your account in minutes.
Frequently Asked Questions;
- How does Paypal Business Loan Work?
You must complete a 5-10 minute online questionnaire to determine your business’s eligibility. Once the questionnaire is complete, estimated loan terms will be customized by adjusting the loan amount and duration to compare the costs of financing as required for your business.
Once you select your desired terms and completed the application, if approved, you will be prompted to electronically sign a contract that will be emailed to you and includes bank instructions so that payments can be debited weekly from your business checking account.
- If Approved how can I get the funds?
Once you get approved for the loan the money will be sent straight away into your account by lender.
Completing the questionnaire form will give you a brighter insight of all you should do and expect.