PayPal Working Capital named Fintech Innovation of the Year
On Wednesday evening in a packed room at the Hilton Park Lane, digital pioneers and influencers from both the public, private and non-profit sectors gathered to find out who would triumph at the
2016 Digital Leaders 100 Awards.
Against some tough competition, PayPal Working Capital was awarded Fintech Innovation of the Year!
As tens of thousands of businesses have discovered, PayPal Working Capital is a fast and flexible cash advance that offers major advantages over traditional loans:
Funding in minutes
PayPal’s strong relationship with its business customers means we can approve an advance based on their PayPal sales history. There’s no need to spend hours gathering information about their business, as the customer completes a quick online application. And we can make a decision and provide the funds in minutes.
Pay when you get paid
Unlike traditional business loans, PayPal Working Capital allows a business to repay the advance with a share of their PayPal sales. If they have a day without any PayPal sales that’s fine – they don’t repay anything that day.
No credit check
PayPal Working Capital is a cash advance against future sales – it’s not a loan – so no credit checks are needed and the advance does not impact on the customer’s business or personal credit record. There is a single, fixed fee that is displayed to the customer before they sign up. There are no interest charges or late payment fees.
Our Fintech Innovation of the Year has already been a big hit with business owners in the UK, US and Australia, where we’ve provided over $1 billion to our customers.
Eve Young