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02-18-2016, 12:19 PM #1
- Join Date
- Feb 2016
- Posts
- 4
Lenders working with PAYPAL BIZ STATEMENTS
Does anyone know any direct lenders that can work with paypal business statements?
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02-18-2016, 12:19 PM #2
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02-18-2016, 02:13 PM #3
- Join Date
- Sep 2015
- Posts
- 36
Does paypal not offer their own MCA product? Could be mistaken
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02-18-2016, 02:27 PM #4
of course they do. it's called Paypal Working Capital. They're a huge MCA player: https://www.paypal.com/us/webapps/workingcapital/
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02-18-2016, 03:07 PM #5
- Join Date
- Aug 2014
- Posts
- 194
I cannot believe how much Paypal promotes "loan" on their MCA product. It's is on every web page.
You would think with no ACH product that it would be a true MCA % of future receivables product and they would want to point out it is not a loan every chance they get?
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02-18-2016, 03:54 PM #6
- Join Date
- Sep 2014
- Posts
- 430
Working with the statements should be easy enough for any lender in term of verifying revenues. The issue most lenders have is that you can't debit a PayPal account or split processing, PayPal is ****ty about freezing funds in accounts, and the funds have to be manually transferred to an actual checking account. The latter is the biggest sticking point for most, I imagine. If all their funds flow through PayPal, it is very easy for them to stop transfers into the account being debited.
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02-18-2016, 04:02 PM #7
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02-18-2016, 04:33 PM #8
i would definitly check out www.lendvo.com they specialize in web based businesses
Anthony Diamond
Underwriter
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02-18-2016, 04:36 PM #9
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02-18-2016, 05:04 PM #10
- Join Date
- Jun 2015
- Posts
- 3,326
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02-18-2016, 05:06 PM #11
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