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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
Min. credit score
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
Min. 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$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

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 Min. credit score Loan amount
LightStream personal loans
Finder Score: 4.8 / 5: ★★★★★
LightStream personal loans
7.49% to 25.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
PenFed Credit Union personal loans
Finder Score: 3.6 / 5: ★★★★★
PenFed Credit Union personal loans
7.99% to 18%
$600 to $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Finder Score: 4 / 5: ★★★★★
8.49% to 35.99%
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Credible personal loans
Finder Score: 4.3 / 5: ★★★★★
Credible personal loans
4.60% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
Freedom Debt Relief
Not rated yet
Freedom Debt Relief
Starting at $4,000
Freedom Debt Relief works to help people with unmanageable, unsecured debt get back on their feet.

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.

Frequently asked questions

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