PayPal, partners to offer MSMEs, freelancers, and others collateral-free term loans has announced its partnership with PayPal, a global leader in digital payments to provide freelancers, women entrepreneurs, sole proprietors, and MSMEs with collateral-free business loans.

The partnership aligns with PayPal’s mission to provide innovative credit solutions and will enable borrowers to access term loans from Rs 50,000 up to Rs 10,000,000 through a fast, hassle-free process that requires minimum documentation to merchants across 1500+ cities and towns in India. The loan tenure will range from 6-36 months.

Commenting on the partnership and launch of the credit solution, Anupam Pahuja, Vice President – India, South East Asia, Middle East & Africa, PayPal said, “Economic activity across India has been deeply affected by the Coronavirus pandemic, and it is now when our MSME’s and freelancer community require solutions to kickstart business activity. Accessing capital through traditional channels has always been a challenge for most small businesses.”

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