PayPal (EBAY) Gets Into the Lending Game (AMZN)
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eBay's (Nasdaq: EBAY) PayPal makes the paying process easier for merchants. Now, it wants to lend money for those merchants to do more business.
According to the WSJ, PayPal will lend up to 8 percent of a merchant's annual sales that are conducted using PayPal services. The loans will be to help merchants balance inventory or for expansion of their business.
Similar programs are offered by Amazon.com (Nasdaq: AMZN) and Kabbage.
According to PayPal Lending VP Darrell Esch, about 90,000 U.S. merchants would qualify for the loans.
PayPal will make money on the loan through a series of calculations based on how fast the merchant expects to repay the debt. The website for PayPal's loan program can be found here.
Shares of eBay are up about 1 percent Tuesday.
According to the WSJ, PayPal will lend up to 8 percent of a merchant's annual sales that are conducted using PayPal services. The loans will be to help merchants balance inventory or for expansion of their business.
Similar programs are offered by Amazon.com (Nasdaq: AMZN) and Kabbage.
According to PayPal Lending VP Darrell Esch, about 90,000 U.S. merchants would qualify for the loans.
PayPal will make money on the loan through a series of calculations based on how fast the merchant expects to repay the debt. The website for PayPal's loan program can be found here.
Shares of eBay are up about 1 percent Tuesday.
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