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Does PayPal let you borrow money with a personal loan?

Paypal doesn’t offer personal loans, but plenty of lenders out there do, even if you have less-than-perfect credit.

PayPal might make shopping online easier — and it even has a few online financing options for regular customers. But you can’t borrow money from PayPal as it doesn’t offer personal loans. Luckily, there are a few alternatives for when you want to borrow for a one-time purchase. Here are a few personal loans to consider if you’re trying to borrow funds quickly.

6 Paypal personal loan alternatives

  • For comparing multiple lenders: MoneyLion
  • For students or borrowers with limited credit history: Upstart
  • For flexible payments: Upgrade
  • For comparing larger loan amounts: Monevo
  • For competitive rates: BestEgg
  • For online shopping: Affirm

Alternative for comparing multiple lenders

MoneyLion personal loans

4.2 / 5 ★★★★★

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MoneyLion is a free service that connects you with top lenders to find a personal loan tailored to your needs, whether for home improvement, debt consolidation or unexpected expenses. Loans range from $500 to $100,000, depending on your credit score, income and other factors. It also claims to help borrowers with less-than-stellar credit gain access to a loan.

To get started, you complete a quick and simple online application that won't impact your credit score. You'll receive multiple options based on your eligibility and requirements. These options allow you to directly compare rates, terms and monthly payments.

However, company reviews are mixed. While Trustpilot and Better Business Bureau (BBB) reviews rate the company highly, there's also a BBB alert due to an ongoing pattern of complaints.

  • Not available in: Colorado, Connecticut, New York, Vermont, West Virginia
Pros
  • Compare lenders without affecting your credit score
  • Simple and quick application
  • Low minimum loan amount available
Cons
  • Shares your information with third parties
  • Has mixed reviews online
Loan amount$500 to $100,000
APRVaries by lender
Interest Rate TypeFixed
Min. credit scoreVaries by lender
Turnaround TimeVaries by lender
Maximum Loan Term2 years
Minimum Loan Term10 years

Alternative for students or borrowers with limited credit history

Upstart personal loans

4.2 / 5 ★★★★★

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Upstart is a great alternative to PayPal for students or borrowers with limited or poor credit history. It accepts applicants with credit scores as low as 300 and goes beyond traditional credit checks by considering eligibility factors such as employment history and education. Upstart offers loans ranging from $1,000 to $50,000, and while rates can start as low as 7.4% APR, borrowers with lower credit may face an origination fee of up to 12%. Its AI-driven approach and unique underwriting process allow for faster approval, with most loans disbursed within one business day.

  • Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia
Pros
  • Considers education and employment history in underwriting process
  • Preapproval available online
  • Loans up to $50,000
  • Rates starting at 7.4%
Cons
  • Origination fee up to 12%
  • Only two loan term options
Loan amount$1,000 to $50,000
APR7.40% to 35.99%
Interest Rate TypeFixed
Min. credit score300
Turnaround TimeAs soon as the same day
Maximum Loan Term5 years
Minimum Loan Term3 years

Alternative for flexible payments

Upgrade personal loans

4 / 5 ★★★★★

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Upgrade is a strong alternative to PayPal if you need a personal loan with flexible payment options. If you're experiencing financial hardship, it lets you adjust your payment date or make partial payments of 30% to 50%. Additionally, you'll get a 10-day grace period before being charged a late fee. Beyond offering flexibility, Upgrade has an easy application, fast funding and works with borrowers with lower credit scores.

  • Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

Pros
  • Access to free credit monitoring
  • Hardship programs
  • Joint applications accepted
  • Rate discounts available
Cons
  • Origination fee of 1.85% to 9.99%
  • Need monthly cash flow of $1,000+
  • Has a steep maximum rate of 35.99%
Loan amount$1,000 to $50,000
APR9.99% to 35.99%
Interest Rate TypeFixed
Min. credit score580
Turnaround Time1 to 4 business days
Maximum Loan Term7 years
Minimum Loan Term2 years

Alternative for comparing larger personal loans

Monevo personal loans

4.4 / 5 ★★★★★

This online connection service could be a good choice 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
Pros
  • Fair and bad credit OK
  • Free with a soft credit check
  • Can opt out of lender communications
Cons
  • Not a direct lender
  • Not as many lending partners as some competitors
  • Hard to reach support by phone
Loan amount$500 to $500,000
APR5.40% to 35.99%
Interest Rate TypeFixed
Min. credit score300
Turnaround TimeVaries by lender
Maximum Loan Term12 years
Minimum Loan Term0.5 years

Alternative for competitive rates

Best Egg personal loans

3.8 / 5 ★★★★★

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Best Egg is a strong alternative to PayPal for personal loans if you have fair to excellent credit and are seeking competitive rates. Borrowers with credit scores of 700 or higher will get the best rates, though there is a 9.99% origination fee. Best Egg offers unsecured and secured loans up to $50,000 and offers 20% discounts for those who take out a secured loan. Not only does Best Egg stand out for its fast funding, but it's also known for its customer service and has won awards, such as “Best Lending Solution” in the 2023 Benzinga Global Fintech Awards.

  • Not available in: Iowa, Vermont, West Virginia
*Trustpilot TrustScore as of December 2022. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender. The Best Egg Credit Card is issued exclusively by First Bank & Trust, Member FDIC, Brookings SD pursuant to a license by Visa International. Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. “Best Egg” is a trademark of Best Egg Technologies, LLC. Offers may be sent pursuant to a joint marketing agreement between Cross River Bank, Blue Ridge Bank, N.A. and/or First Bank & Trust and Marlette Marketing, LLC, a subsidiary of Best Egg, Inc.

The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; Ohio, $5,001; and Georgia, $3,001.

For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL–Operations Manager, Email: crt-resolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-282-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/
Pros
  • High maximum loan amount, up to $50,000
  • No prepayment penalties
  • Rate discounts for secured loans
Cons
  • Charges origination fees
  • Not available in all states
Loan amount$2,000 to $50,000
APR7.99% to 35.99%
Interest Rate TypeFixed
Min. credit score640
Turnaround TimeAs soon as the next business day
Maximum Loan Term5 years
Minimum Loan Term3 years

Alternative for online shopping

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 checking out online and pay it back over 3, 6 or 12 months. You don't need good credit to qualify, and the application just takes a few minutes — similar to many PayPal products.

  • Not available in: Iowa, West Virginia
Pros
  • Charges no fees or penalties
  • Offers flexible, 0% APR for short-term loans
  • No minimum credit score requirement
  • Offers prequalification
Cons
  • Doesn't build your credit score
  • Reports late payments to Experian
  • Charges up to a 36% APR based on creditworthiness
Loan amountUp to $17,500
APR0% to 36%
Interest Rate TypeFixed
Min. credit score
Maximum Loan Term1 year

Why doesn’t PayPal offer personal loans?

PayPal has never offered personal loans, though the online payment system offers 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.

What other loans does PayPal offer?

While it doesn’t offer loans for regular shoppers, it has several other financing products you might want to consider:

Compare more personal loans

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

Name Product USFPL Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg logo
7.99% to 35.99%
640
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Upstart personal loans
Finder Score: 4.2 / 5: ★★★★★
Bankrate logo
7.40% to 35.99%
300
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
Finder Score: 4.4 / 5: ★★★★★
Bankrate logo
8.99% to 29.99% fixed APR
680
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no required fees.
Upgrade
Finder Score: 4 / 5: ★★★★★
Bankrate logo
9.99% to 35.99%
580
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
LendingPoint personal loans
Finder Score: 3.3 / 5: ★★★★★
Bankrate logo
7.99% to 35.99%
Not stated
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
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Bottom line

PayPal doesn’t offer personal loans. But between its other products and alternative online lenders, you have a slew of financing options to help meet your needs. If you are looking for a lender that does offer personal loans, there are plenty of options. Compare even more lenders with our guide to personal loans.

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To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.
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Written by

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Sarah Barness is the Head of Content at O.school and freelance writer at Finder, keeping up with the latest products in the industry to present readers with unbiased reviews and guides. She has over eight years of digital media industry experience in fast-paced newsrooms in New York City and Los Angeles. Before Finder, Sarah was ranked as a top-viewed HuffPost editor and writer. She was also a lifestyle senior editor for A Plus, a digital media publication founded by Ashton Kutcher. Sarah holds an MFA in creative nonfiction from The New School, as well as a certificate in editing from Poynter ACES. See full bio

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