PayPal has loaned $1B to small businesses, half of it since May

PayPal has ramped up its loan business to the tune of $500 million in small business loans in the past five months. Specifically, the “Working Capital” program has awarded loans to some 60,000 unique merchants in amounts up to $85,000. In May, the company said it had loaned a total of $500 million in the 18 months […]...