PayPal Offering Business Loans

[clarry100]

We have just received an email to one of our email accounts that is registered to one of our PayPal accounts.

The email is offereing instant business loans to help you develop your online business.

There are embedded links but they look a bit dodgey. They have the word "paypal" embedded in there somewhere.

Is this legitimate?

Are PayPal a licensed lending organisation now?

Anyone else getting these?

[stylistswardrobe2015]

I received that message too.. I was just curious 🙂 Oh well.. Good idea though.

[davewil1964]

Even after 5 months...

[aussie.grazing.boards]

<p>It is legal in Australia, I just got a $4500 working capital loan with PayPal&nbsp;</p>

[lyndal1838]

Well, you must be dealing with paypal in the USA using their banking rules.   I hope it doesn't all come back to bite you.

Paypal's APRA licence does not allow them to be anything but a money transfer service.

[donnashuggy]

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@lyndal1838 wrote:

Well, you must be dealing with paypal in the USA using their banking rules.   I hope it doesn't all come back to bite you.

Paypal's APRA licence does not allow them to be anything but a money transfer service.

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https://www.paypal.com/au/webapps/workingcapital/

[spicy-pickles]

I see now eBay are calling up sellers and pushing these Paypal loans too.