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PayPal might make shopping online easier — and even has a few online financing options for regular customers. But it doesn't offer personal loans. Luckily, there are a few alternatives for when you want to borrow for a one-time purchase.
PayPal has never offered personal loans, though the online payment system does offer other types of financing to individuals and businesses. These include a line of credit and cash rewards cards for regular shoppers. And small business owners can take out working capital financing and small business loans.
PayPal might not offer a one-time financing option to shoppers, but there are a few similar providers to consider instead.
Affirm is an online lender with a twist: It only offers financing directly through partner stores. You can apply for a loan while you’re checking out online and pay it back over 3, 6 or 12 months. You don’t need to have good credit to qualify, and the application just takes a few minutes — similar to many PayPal products.
| Loan Amount | Up to $17,500 |
|---|---|
| APR | Up to 30% |
| Interest Rate Type | Fixed |
| Maximum Loan Term | 1 year |
| APR | Up to 30% |
|---|---|
| Loan Amount | Up to $17,500 |
3.9 / 5
★★★★★
When you need to borrow a small amount of cash but want to take control of your finances, MoneyLion PLUS might be what you’re looking for. You need to become a MoneyLion PLUS member to get a loan from this online platform, but once you’re in you can access cash in seconds. You’ll also receive a free investment account, checking account and credit monitoring.
Membership costs $29 a month. But you can earn that back by opening your app every day — MoneyLion will deposit $1 into your investment account each day you log in.
| Loan Amount | Up to $1,000 |
|---|---|
| APR | 5.99% to 29.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | All credit scores accepted |
| Minimum Loan Term | 1 year |
| APR | 5.99% to 29.99% |
|---|---|
| Min. Credit Score | All credit scores accepted |
| Loan Amount | Up to $1,000 |
4.4 / 5
★★★★★
This online connection service could be a good choice if you want to compare multiple options fast — especially if you’re looking for a larger loan amount or don’t have the strongest credit. This award-winning platform is highly automated, which has its benefits and drawbacks. While it’s fast, there’s no customer service line to reach if you have any questions.
| Loan Amount | $500 – $100,000 |
|---|---|
| APR | 3.49% to 35.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | None |
| Turnaround Time | Varies by lender |
| Maximum Loan Term | 12 years |
| Minimum Loan Term | 0.25 years |
| APR | 3.49% to 35.99% |
|---|---|
| Min. Credit Score | None |
| Loan Amount | $500 – $100,000 |
While it doesn’t offer loans for regular shoppers, it does have several other financing products you might want to consider:
How do PayPal’s personal and business services work?
PayPal might not offer personal loans. But between its other products and alternative online lenders, you have a slew of financing options to help meet your needs.
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