PayPal Working Capital – PayPal to Offer Merchant Cash Advances to UK Businesses
Friday 25 July, 2014
Small businesses are the lifeblood of the British economy. But seven years after the start of the credit crunch, many of them tell us they're still struggling to get funding. According to the British government, around a third of SMEs rely on retained earnings or the owner's own finances rather than bank or equity funding. This means that many find it very difficult to finance their present needs or future growth. And the problem is acute for smaller, online businesses.
PayPal can help. This autumn, we will be launching PayPal Working Capital to help British businesses fund their future growth. For the first time in Britain, PayPal business customers (including eBay sellers) will have access to a merchant cash advance against their future sales, meeting a real business need for small businesses. They may want the money to buy stock for Christmas trading, to pay to translate their website to grow overseas sales or perhaps to get marketing support.
PayPal Working Capital offers major advantages compared with traditional ways of funding a business:
PayPal Working Capital has already been a big hit with business owners in the United States, and we're delighted that our UK customers will be next to benefit from faster, fairer funding. PayPal will start by offering merchant cash advances to selected PayPal UK customers this autumn, with plans to offer the product to a wider range of merchants in 2015.
Sounds interesting? You can find our more and register your interest at https://www.paypal-business.com/UK-WorkingCapital
Press release distributed by Pressat on behalf of Pressat Wire, on Friday 25 July, 2014. For more information visit http://www.pressat.co.uk/
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