Donnerstag, 24. April 2014

Paypal Working Capital ~ 5 Stars

We just paid off our first loan thru Paypal working capital
We borrowed $1000 and had to pay back $1055
It took 4 months to do so, they took 10% of our sales

We just signed up for another loan for $2500 and have to pay back $2698
This time we're paying 15% of our sales

I give working capital 5 stars for ease of use and interest charged.

Extremely happy we were able to do this

I highly recommend this loan if you can get it

It comes out of daily sales, period.

So if you needed the consignment funds, consider opening a second PP account and use that email address in those listings so the payments go to the second account.  Although, PP may not go for it since it's all one business.

I had to do something similar, I also invoice my accounting clients via PP so they can pay by credit card.  Since I'm forming an LLC for that entitiy, it seemed a good time to convert my second PP account to the other biz, so the working capital payment wouldn't come out of those payments.  I also wanted the 1099k for that biz to be issued under the EIN anyway.

I second the ease and convenience of PP Working Capital.  Kabbage didn't like me, but PP did.  Works for me!

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