The PayPal Business Loan launches in Canada for small business owners

For the first time in Canada, PayPal announces the PayPal Business Loan, enabling small business owners to easily access loans between $5,000 and $100,000 at competitive prices. In time for Small Business Week, and ahead of the busy holiday shopping period, select PayPal merchants across Canadai are being invited to apply for a PayPal Business Loan. To apply, business owners just need to fill out a simple online form. Applicants will know if they are approved in minutes, and if approved, funds will be transferred to the applicant's business bank account within one to two business days,ii allowing merchants to quickly use funds to buy inventory, invest in equipment, expand products or locations, manage cash flow, or anything else their business needs."Applying for a traditional loan takes time and isn't always favourable to small business owners," said President of PayPal Canada, Paul Parisi. "We're launching the PayPal Business Loan to offer our merchants easy access to financing, something they desperately need. We look forward to helping more small business owners achieve their dreams to grow locally and globally."