Paypal lends small businesses £1 billion

Paypal small business service lends £1bn Paypal says it has provided £1bn to UK small businesses through Paypal Working Capital, a lending service which allows small businesses to apply for cash advances against future sales. The firm said the total amount advanced through the scheme increased 60% over the course of 2018, climbing to £1bn from £625m. It added that since its launch in 2014, 37,000 small businesses in the UK have used the Paypal Working Capital service.