Articles by deBanked Staff
PayPal Exceeds $30B in Business Loans and Merchant Cash Advances
March 26, 2025
PayPal has officially crossed $30B in merchant cash advance and business loan originations, the company announced.
“Access to capital is consistently one of the top challenges small businesses face as they look to maintain and scale their businesses,” shared Michelle Gill, EVP and GM of SMB and Financial Services at PayPal in an official release. “Traditional business loans are not only difficult to secure for small businesses, but the application process can be challenging and prohibitively time consuming. PayPal’s financing solutions have a streamlined online application process with no lengthy paperwork or extensive credit checks, and approved PayPal loans are funded within minutes. We launched PayPal Working Capital and PayPal Business Loan to serve this important need, and to provide a quick and responsible way to inject much needed capital to help fuel small business growth.”
PayPal had pulled back significantly on originations for a while as can be seen here but ramped back up last fall. For example, PayPal said that global originations had surpassed $25.6B at the end of Q2 2022 across a total of 1.3 million transactions. That means it has added roughly $5B in originations across 100,000 transactions in the span of almost 3 years since they now report 1.4 million total.
“Small businesses have seen tremendous value in PayPal Working Capital and PayPal Business Loan, as both offerings continue to receive remarkable feedback from customers,” the company said. “Additionally, both offerings have achieved Net Promoter Scores of 76 and 85 respectively and our customers renew loans or access our offerings on a repeat basis more than 90% of the time. Businesses also experience an increase in their total PayPal payment volume by 36% after adopting PayPal Working Capital and 16% after taking a PayPal Business Loan.”
Broker Fair Preshow Party Info – NYC
March 25, 2025Broker Fair 2025’s preshow party is at JIMMY, located on the rooftop of ModernHaus in SoHo. Sponsored by Lendini, it’s being held on the evening of May 18th. To attend, make sure you add the preshow ticket during online checkout for Broker Fair. Broker Fair’s special pricing room block is also at ModernHaus and you should use this link to book your hotel stay.
Broker Fair is on May 19th in NYC at Tribeca 360 in Tribeca, walking distance from ModernHaus.
Book Your Room for Broker Fair 2025 – NYC – May 19
March 21, 2025Book your room at ModernHaus located in the SoHo neighborhood of Manhattan using our special link. The pre-show party will be on the hotel’s rooftop bar JIMMY. The conference itself is just blocks away at Tribeca 360. To register for the pre-show and/or the conference, click here.
For any questions, email events@debanked.com or call 917-722-0808.
$312M of COVID-era SBA Loans Went to Children-Owned Businesses?
March 10, 2025According to the Department of Government Efficiency, the SBA funded 5,593 loans for $312M to businesses during 2020-2021 where the only listed owner was 11 years-old or younger.
“While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name,” the Department states.
As previously reported, $333M was also funded to business owners older than 115 years-old. That extreme shenanigans took place during the covid era, particularly with respect to PPP and EIDL, is not new information. What DOGE is revealing, however, is that some fraud should have been detected at the time.
COVID-EIDL chargeoffs had already exceeded $70B by end of FY 2024.
Top Online Small Business Lenders of 2024
March 7, 2025Below is a list of the top online small business lenders in 2024 for those that disclose their data:
| Company | 2024 Origination Volume |
| Square Loans | $5.7B |
| Enova | $3.98B |
| Bankers Healthcare Group | $3.7B |
| Shopify Capital | $3B |
| PayPal | $3B |
| QuickBooks Capital | $1.8B |
| North Mill Equipment Finance | $654M |
Bankers Healthcare Group Originates $1.16B in Q4 2024
March 7, 2025Bankers Healthcare Group, which is 49% owned by Pinnacle Financial Partners, originated $1.16B in loans in Q4 2024. That’s a combination of both commercial and consumer loans.
“There remains great demand for BHG paper both in the community bank network and Wall Street,” said Pinnacle CFO Harold Carpenter during the earnings call. “As to production, we need to emphasize BHG has not expanded its credit box at all. It began restricting its credit appetite in late ’22 and early ’23 and has not adjusted its credit box for consumer or commercial credit since that time.”
OppFi: Bitty to Disrupt the SMB Financing Space
March 5, 2025
OppFi continues to like what they see with its investment in Bitty. During the Q4 earnings call this morning, CEO Todd Schwartz gave the latest update on that relationship.
“As you may recall, Bitty was our first outside investment in the small business financing space,” Schwartz said. “Similar to our consumer business, we continue to see a large supply demand imbalance in the working capital space for small business. Bitty has experienced significant growth and we believe it will continue to provide profitability and cash flow to OppFi in 2025. We are excited to continue working with Bitty as they seek to disrupt the space with best-in-class products, modeling, and servicing.”
OppFi says that with the amount of cash it has on hand, it may decide to make an investment in another company similar to Bitty but that it was currently looking at a menu of options, including the possibility of share buybacks.
Bitty recently updated its logo and website.
Thousands of PPP & EIDL Loans Went to Business Owners Older Than 115 Years Old
March 5, 2025
According to the Department of Government Efficiency (DOGE), 3,095 SBA loans issued during the 2020-2021 covid era went to businesses where the owner was recorded as being older than 115 years old. The oldest person living in the US currently is only 114. Overall, this amounted to $333M deployed. No additional details were shared on the loans. The DOGE website mostly just embeds tweets made on X.
That shenanigans occurred during the PPP & EIDL covid era is nothing new. As of FY 2024, for example, the SBA had already written off $70B in covid EIDL loans alone. What’s new with the above information is perhaps how cross-checking may have easily prevented some of the obvious fraud.
