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MIROW - 19/06/2017 - 07:56:45

When is a loan not a loan?

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MIROW - 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.



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