LoanBuilder Review - Business Loans

Application & Approval Process
Rates & Fees
Payment Terms
Loan Type Options
Customer Support & Benefits

About LoanBuilder

LoanBuilder, which was acquired by PayPal in 2017, offers highly customizable short-term business loans to companies that have been operating for at least 9 months. What really sets LoanBuilder apart from the competition is its flexible repayment options and the speed of the entire process. Businesses can have the loan funds dispensed into their accounts as soon as the next business day. The LoanBuilder platform is also referred to as PayPal Business Loans.





  • Single fixed fee pricing
  • No origination fees
  • Available to all 50 states and DC
  • Over 500 different businesses served


  • Fee of $20 when a payment is returned due to insufficient funds
  • 12-month max term limit

Key Highlights

  • Loan Configurator tool is helpful and innovative, allowing you to estimate your borrowing costs and takes credit history into account.
  • You have the option of checking your eligibility in minutes either online or over the phone. It will not affect your credit score.
  • Tailored terms where you can choose the loan amount and term that best your business’ needs.
  • Discloses its fees upfront, does not charge origination fees, closing costs or processing fees. 
  • Customer support is available 6 days per week via phone and email, and there’s a detailed FAQ section on the site.

Application & Approval Process

While LoanBuilder attempts to offer loans to as many businesses as possible, there are some minimum requirements that companies must meet. Here are some of the minimum criteria:

  • Business must be located in the USA (All 50 states + DC)
  • At least 9 months operating as a business
  • $42,000+ in annual revenue
  • No active bankruptcies
  • The business owner must have a FICO score of at least 620

The following list displays industries that LoanBuilder does not supply loans to:

  • Agents and managers for artists, athletes, entertainers, and other public figures
  • Any businesses in public administration
  • Attorneys
  • Business and professional associations
  • Civic and social organizations
  • Collection agencies
  • Credit bureaus
  • Elementary and secondary schools, and junior colleges
  • Environmental, conservation, and wildlife organizations
  • Financial services
  • Gambling and related businesses
  • Grantmaking foundations
  • Gun stores
  • Holding companies and management companies (without subsidiaries included)
  • Human rights organizations
  • Independent artists, writers, and performers
  • Labor and political organizations
  • Manufactured (Mobile) Home Dealers
  • New and used automobile, ATV, RV, personal watercraft, boat, and motorcycle dealers
  • Non-profit organizations
  • Religious organizations
  • Voluntary health organizations

If you qualify for the above criteria and are not seeking a loan in one of the excluded industries, you can head directly to the LoanBuilder website to begin your application.

When you reach the homepage, click “Check Eligibility” to initiate the application process. If you have an existing PayPal account, then you can log in to your account at this stage. This will pre-populate your application with your personal details. If you don’t have a Paypal account, then proceed with the application as usual.

Next, you will be given a questionnaire that will ask you for information about the business as well as your basic details, such as:

  • Business name
  • Primary loan purpose
  • Personal and Business address
  • Business entity type
  • Total annual revenue
  • Number of employees
  • Business industry
  • Social security number
  • The percentage of the business which you own

After you have entered all of these details, you must submit your application for review. This stage of the application will not require a credit check.

Next, they will evaluate the financial situation of the business, its overall health, and the personal credit history of the applicant. 

If you have been approved to continue with the application, you will then be greeted with your loan configurator. Here, you will have the ability to select your desired loan amount and loan term using a sliding scale. You can see your estimated interest charge, total repayment amount, and weekly repayment costs depending on the options that you choose on the slider.

When you have settled on your terms, you must click through to the following screen and complete a full application. This involves disclosing proof of ID, bank statements, and other various documents to support your application.

If you are approved for the loan, you must sign electronic documents.

Funds will typically be deposited into the designated bank account the next working day, as long as your loan is approved before 5 PM (EDT), Monday to Friday.

Rates & Fees

The fees for the loan are determined by the length of the loan term, the amount borrowed, as well as the overall financial health of the company and applicant. The rates range from 6.49% to 19.31%.

It’s important to note that LoanBuilder charges just one single borrowing fee. There aren’t any other hidden costs, no application fee, and no origination fee, which is relatively rare in the business loans industry. The single fixed fee is paid over the life of the loan. If the loan is paid early, then the full loan fee must still be paid.

Other than this, the only other charge is a returned item fee of $20, which occurs when a payment is returned due to insufficient funds.

In general, the whole process is extremely transparent. All costs are very clearly displayed throughout the loan request.

Payment Terms

The repayment of the loan is conducted weekly. Applicants can choose from a loan term between 13 and 52 weeks and must pay the loan back each week on a day of their choice.

Although you cannot change the repayment schedule, the day on which you pay the loan back each week is flexible. This is a great feature for businesses that have an irregular cash flow.

Loan Options

LoanBuilder only offers short term business loans with a weekly repayment schedule. They don’t have multiple loan types available, however, the loans are highly customizable with the configurator tool. 

As previously mentioned, it takes your estimated annual revenue, credit history and available credit to create a sliding scale that has been adjusted to the specifications you provided. This then allows you to modify the scale to best suit your business’s needs, altering the amount you want to borrow and the total term that you want to borrow for, if you wish. It is beneficial for fitting your loan to your budget and projected cash flow in the upcoming months.

Customer Support & Benefits

LoanBuilder has a fantastic customer support team available to receive your calls and emails from 6 days a week. The opening times are from 9 AM to 8 PM (ET), Monday to Friday and 11 AM to 3 PM (ET) on Saturday. 

In addition, there is an extensive FAQ section on the website offering answers on a variety of topics, such as business eligibility, loan early repayment, and required documentation.

As LoanBuilder is a part of PayPal, users can access the PayPal community forums for help and advice surrounding the company’s products.

Contact Details

Address: 3505 Silverside Rd. Wilmington, DE 19810

Phone: 1-800-347-5626

Email: [email protected] 

Online forum: PayPal-Community

Social media: Facebook

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