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PayPal personal loan alternatives

3 options to finance online shopping, borrow small amounts or compare lenders fast.

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.

Why doesn't PayPal offer personal loans?

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.

3 alternatives to PayPal personal loans

PayPal might not offer a one-time financing option to shoppers, but there are a few similar providers to consider instead.

Best for online shopping: Affirm

Affirm financing

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.

  • Not available in: Iowa, West Virginia
Loan amountUp to $17,500
APR0% to 36%
Interest Rate TypeFixed
Maximum Loan Term1 year

Best for instant, small-dollar financing: MoneyLion PLUS

MoneyLion Credit Builder Plus personal loans

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.

  • Not available in: Colorado, Connecticut, New York, Vermont, West Virginia
Loan amountUp to $1,000
APR5.99% to 29.99%
Interest Rate TypeFixed
Minimum credit scoreAll credit scores accepted
Minimum Loan Term1 year

Best for finding a good deal: Monevo

Monevo personal loans

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.

  • Available in all states
Loan amount$1,000 to $500,000
APR1.99% to 35.99%
Interest Rate TypeFixed
Minimum credit score300
Turnaround TimeVaries by lender
Maximum Loan Term12 years
Minimum Loan Term0.5 years

Does PayPal offer similar loans?

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?

Compare more personal loans providers

1 – 6 of 6
Name Product Filter Values APR Minimum credit score Loan amount
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
6.5% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
4.98% to 35.99%
Poor to excellent credit
$1,500 to $100,000
Achieve personal loans
7.99% to 29.99%
$1,000 to $50,000
Consolidate debt and more with these low-interest loans. Cosigners welcome.
Upgrade personal loans
7.96% to 35.97%
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LightStream personal loans
5.99% to 23.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.

Compare up to 4 providers

Bottom line

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.

Compare even more lenders with our guide to personal loans.

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