It hit a milestone, announcing it has provided more than $10 billion in loans to more than 225,000 small businesses around the globe. These days there is a bevy of fintechs going after the small business lending marketplace. “Since the great recession, the traditional lenders have really slowed down and pulled back from small business lending. Small business lending never recovered like commercial lends,” said PayPal’s Esch. Its maximum loan amount is higher than the average lent to small businesses by the U.S. Small Business Administration.

Source: Forbes May 29, 2019 11:26 UTC