PayPal and Square Becoming Leaders in Small Business Lending
PayPal and Square are quietly becoming two of the largest small business lenders in the country. They are often dealing with very small businesses that banks are not able to serve. But these fintech powerhouses have a unique advantage: they see transaction level data that banks cannot see. Loan sizes are also starting to tick up, particularly in PayPal’s case, where they are seeing demand for loans of up to $500,000. Source.