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PayPal buys Swift Financial

PayPal corporate HQ, Swift Financial joins PayPal
PayPal corporate HQ
The goal of this new corporate acquisition is to help increase small business owners access to capital and better provide credit to merchants who are not using PayPal's services yet.
Codrut Nistor,
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Starting in 2013, PayPal's Working Capital unit made over US$3 billion of loans to 115,000 small businesses. These loans had values up to US$125,000 each and soon, thanks to the acquisition of Swift Financial, this limit will go up to US$500,000.

A statement by PayPal reveals that "Swift’s technology will allow us to assess supplemental information to more fully understand the strength of a business and provide access to complementary financing products to meet the needs of small and mid-sized businesses."

As it usually happens with such deals, the financial terms have not been disclosed. What we know is that the acquisition is subject to certain closing conditions and, if everything goes well, it should close later this year.

Swift Financial was established back in 2006 and is headquartered in Wilmington, Delaware. The company has provided funding to thousands of emerging companies in the US and has been recognized for excellence by J.D. Power.

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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5427 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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Codrut Nistor, 2017-08-10 (Update: 2017-08-10)