questionMIROW - 19/06/2017 - 07:56:45
When is a loan not a loan?
Please log in to answer the question.
CommentMIROW - 19/06/2017 - 07:57:19
When it's a PayPal loan
PayPal has advanced £400m to more than 22,000 small businesses in the UK.
"Technically it's not a loan, it's an advance on future sales," says Mark Brant, managing director of PayPal UK.
They charge a fee upfront, which is usually 5% to 10% of the amount advanced he says.
"It's very competitive," he says.