In yet another demonstration of how needy small business operators are for capital, PayPal has announced it will expand its lending services to Australia.
This service has been available in the US for some time.
Basically, the merchant can borrow up to 8% of their annual PayPal revenues and apportion a percentage of their future receipts through PayPal to pay off the debt.
Typically this type of financing is very expensive for merchants (see my post and video about Merchant Cash Advance here) and it shows that there is a market and a need for SMEs to borrow and a willingness to pay above average rates.
If you have capital to invest, you should be looking to Invest Local. Buy my book to learn how.
Here is the link to the full article: