Paypal Holdings, Inc. is Now Participating in the Paycheck Protection Program


(San Jose, CA) The U.S. Small Business Administration (S.B.A.), provides access to business loans.  These business loans are made through banks, credit unions and other types of lending partners.  Through a partnership with the U.S. S.B.A., participating lenders, are given a government backed guarantee.  As a U.S. Government Agency; it is built around supporting entrepreneurs, and, small businesses.  The previously said, is done through the goal; maintaining and strengthening the nation’s economy.  The nation’s economy is enabled through the establishment, and, the viability of small businesses.  In turn; the former and the latter, assist in the economic recovery of the community.  In other words, the U.S. Small Business Administration (S.B.A.); participates in capital, contracts and counseling.  At the same time, Paypal Holdings, Inc. appears to always be, in the front of digital payments.  This has been true, for more than 20 years.  Recently, Paypal Holdings, Inc. announced that, it has been approved by the U.S. Small Business Administration.  Specifically; the aforementioned business revealed that, it is now providing small business loans, through, the U.S. S.B.A.’s Paycheck Protection Program.  Additionally, the lender for Paypal’s Paycheck Protection Program business loans is, Web Bank. 
            Paypal’s Paycheck Protection Program participation, thanks to Web Bank, makes Paypal Holdings, Inc. the first non-bank institution to be approved by the U.S. Small Business Administration.  However and returning to; Paypal Holdings, Inc., the aforementioned business was founded in December of the year, 1998.  Fascinatingly, the modern Paypal is the result of a merger.  The two business entities that merged into one were; Confinity, and, X.com.  It is said that, X.com acquired Confinity.  The former, was founded in November of the year 1999.  The name Paypal began to be used, early in the year, 2002.  Subsequently and before the end of 2002, eBay, Inc. purchased Paypal.  Additionally, it remains a completely owned subsidiary, until 2015.  During this year, eBay, Inc. officially spun off Paypal Holdings, Inc. as its own business entity.  Currently, it is well known for its global online payments system that, supports online money transfers.  Additionally, Paypal.com functions as an electronic alternative to traditional paper methods; checks or money orders.  Technically speaking, Paypal.com enables more than 300 million consumer and merchant accounts.  These accounts are in more than 200 global markets. 
            Returning to, Paypal’s business loans, the aforementioned have received another type of recent attention.  For example, recently Paypal Holdings, Inc. started assisting business clients that, have been impacted by the 2019-20 Coronavirus Pandemic.  The assistance included deferring payments on existing business loans, and, waiving certain fees.  Since the year 2013, Paypal Holdings, Inc. has been involved with small business loans.  In fact; this business started by providing young entrepreneurs access to small business loans, and, cash advances.  Additionally, woman owned businesses and minority owned businesses, received the signature Paypal innovative approach to their business loan needs.  Currently; Paypal Holdings, Inc. reports that it has provided access to more than 900,000 business loans, and, cash advances.  The previously said; results in more than 305,000 small businesses being provided access to, more than $15 billion USD in funds.
            To end, Paypal Holdings, Inc. (NASDAQ:  PYPL) did release a press statement.  Dan Schulman is the President and the Chief Executive Officer of Paypal Holdings, Inc.  Through a press statement, Mr. Schulman said the following.  “Small businesses have been hit especially hard by the coronavirus crisis.  There is an urgent need to help every qualified business access the funding needed to ensure that as many workers as possible keep their benefits and paychecks.  This is a race to save jobs in the present and for the future.”  Dan Schulman also said.  “We are eager to deploy our capital and expertise to do our part in helping small businesses survive this challenging period.  We are thankful to Congressional leaders for ensuring the CARES Act allowed companies like PayPal to help distribute funds quickly to those businesses that are most impacted.”  As previously stated, Paypal Holdings, Inc. recently announced that, it has been approved by the U.S. Small Business Administration.  Specifically; the aforementioned business revealed that, it is now providing small business loans, through, the U.S. S.B.A.’s Paycheck Protection Program.  Additionally, the lender for Paypal’s Paycheck Protection Program business loans is, Web Bank.  Lastly, Paypal Holdings, Inc. is now the first non-bank institution, to be approved by the U.S. Small Business Administration. 

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Written from Press Release
Registered Writer with
PR Newswire Association, LLC
R-Berumen28
04/17/2020


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