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PayPal personal loan alternatives

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

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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.

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

  • How much you can borrow: $17,500
  • APRs: Up to 30%
  • Terms: 3, 6 or 12 months
  • Eligibility requirements: Must be a US citizen or permanent resident, be age of majority in your state, and have cell phone service and agree to text alerts from affirm.

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.

Best for instant, small-dollar financing: MoneyLion PLUS

  • How much you can borrow: From
  • APRs: From 5.99%
  • Terms: From 12 months
  • Eligibility requirements: Must be a MoneyLion Plus member, have a job that pays with direct deposit, a checking account with a positive balance, a verifiable identity, proof of ability to repay and live in an eligible state.

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.

Best for finding a good deal: Monevo

  • How much you can borrow: $500 to $100,000
  • APRs: 3.49% to 35.99%
  • Terms: 3 months to 7 years
  • Eligibility requirements: Credit score of 450+, legal US resident and ages 18+.

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.

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

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
SoFi personal loans
5.99% to 18.83%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Upstart personal loans
8.69% to 35.99%
580 or 600 depending on state of residence
$50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
LendingTree personal loans
Starting from 3.99%
Good to excellent credit
$50,000
Receive up to five loan offers in just minutes through LendingTree's simple online form.
NetCredit personal loans
34% to 155%
No minimum
$10,500
Check eligibility in minutes and get a personalized quote without affecting your credit score.
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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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