Can you borrow money from a PayPal business account?

Yes, you can borrow money through your PayPal business account, but only if your business meets other eligibility criteria. For example, you must be in business for at least nine months and have a minimum annual revenue of $33,300. PayPal also checks your personal credit, though you can view loan offers with just a soft pull that won't ding your credit score.

What credit score do you need for a PayPal business loan?

PayPal doesn't disclose a specific credit score requirement for business loans. Some PayPal business loan and LoanBuilder reviews state that a minimum score of 580 to 620 or higher is needed, but that is unverified.

What are the disadvantages of a PayPal loan?

The primary disadvantage is the potential for a high APR. PayPal charges a flat fee for its business and LoanBuilder loans. That, paired with a short repayment window, could make borrowing expensive. PayPal also requires a personal guarantee, which means if your business can't repay, you are personally on the hook for the loan.

How hard is it to get a PayPal loan?

It's not difficult to get a PayPal business or a LoanBuilder loan. Qualifications are fairly easy to meet, and the application only takes a few minutes. You can check if you qualify by applying through the PayPal business loans or LoanBuilder sites.