LoanBuilder business loans
LoanBuilder is a much more hands-on experience than PayPal Working Capital. Each borrower gets a dedicated representative that helps them navigate repayment and acts as a point of contact. It also allows borrowers to adjust their loan term to increase or decrease weekly repayments.
Like PayPal Working Capital, LoanBuilder charges a flat fee instead of interest, depending on factors like your personal credit and how much you borrow. This means that you can’t save on your loan by paying it off early. And since it’s a short-term loan, you only have 3.25 to 12 months to pay it back. And while your business might not have funds deducted from each sale, it will be on the hook for weekly repayments, regardless of revenue.
To qualify, you’ll need to have a personal credit score of at least 600, have been in business for at least one year and make at least $100,000 annually. LoanBuilder isn’t just for businesses with a PayPal account.
Loan amount | $5,000 – $100,000 |
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APR | Not stated |
Min. Credit Score | 580 |