Tag Archives: Adyen

PayPal Working Capital: A Game Changer For My Business

In my last blog I mentioned that PayPal Working Capital was one of the services that I wanted to cover. Having just this past week opened up my fourth loan with them, I figured that now is the time to write this blog. I may not write a ton of blogs on here, but I feel happy to be able to say that each blog I do put up has a lot of thought and time put into it. For me this blog is a long-term project, and over the course of my life I look forward to growing it with quality content, rather than just throwing stuff up.

I first began using PayPal Working Capital when I was sent an invite via email. It advertised a business loan that wouldn’t effect my personal or business credit score, had a flat fee, and the ability to pay a little each time I made a sale via PayPal as opposed to a monthly payment. Almost sounded too good to be true! I had to look into it more.

Upon further investigation I read a lot of great reviews online. I checked out their website, which interested me even more. PayPal Working Capital works by them having the ability to see your sales via PayPal, therefore they are able to customize a personal loan to you based on those sales, then you repay a small percentage (that you have the option to set) with each sale you make on PayPal. I have made PayPal sales over Instagram, Etsy, and elsewhere in the past, but my main source of PayPal sales come from eBay.

With each of the four loans I have taken out with PayPal I have taken a larger amount each time. My most recent loan was for $9,000. The ability to increase my cash flow and be able to purchase inventory I otherwise wouldn’t have been able to has significantly increased my gross revenue. It has also given me the ability to invest into other areas of my business. The process to take out each loan is simple and straightforward. You put in a little information and if you reach the sales threshold they offer you a few options on how much of a loan you wish to receive. You can choose the amount, the percentage of each sale you agree to pay back, and they show you what the flat fee will be. Once you agree on a loan that suits you, in most cases, you have the money deposited in your PayPal account immediately. I have only once had the loan take about 24 hours to be deposited, every other time it was an instant deposit.

You will often hear people say that you shouldn’t use credit or take out a loan. If you are in business, to me, that’s the wrong approach. If you just want to very slowly grow your business (as well as stress out and possibly fail), there’s nothing wrong with that. But if you’re trying to scale your business, “other people’s money” is something you need to be comfortable with.

As I’ve mentioned before I’m also in the beginning stages of buying a house, so taking advantage of a business loan which doesn’t effect my credit score was a HUGE plus for me. This is one fact I can stand behind and guarantee you — opening up a loan with PayPal Working Capital will NOT show up on your credit report, I guarantee you that.

If you are in the same boat as myself, with a majority of your PayPal sales coming from eBay, there is one thing that you should be aware of. That is the fact that eBay recently announced they will be processing their own payments in the future via a startup known as Adyen. Once this begins, for someone like myself, these PayPal Working Capital loans will likely be harder to aquire. However, eBay has also announced that they’ll be teaming up with Square Capital to offer sellers their own version of a working capital loan. Yes, the drama between eBay and PayPal continues!

As time goes on, and more information becomes available, I’ll update this blog post with the latest information, my personal trials, etc… I do know that I’m at least interested in the Square Capital loans as Square is a company which I’ve supported and invested in for some time.

Thanks for reading and if you have any questions or comments please leave them below!

Brent Ott

Where Have I Been?! Updates And Three (3) Apps I’ve Been Using: Circle Invest App, Square Cash App, Robinhood Gold

Sorry for the lack of blog posts. Again!

I’ve spent this entire Spring and beginning of the Summer working, studying, learning, making mistakes, and evolving. Sounds like a lot, I know. I’ve kept investing in various stocks including a few of my favorites that I’ve mentioned on this blog a few times already, such as Facebook and Amazon.

I’ve also continued to save towards a larger cash position, but that is beginning to get even more serious beginning now. I hope to be buying a house and am looking into a few other opportunities within the end of this year and beginning of next. My favorite place to grow my cash right now, as I’ve mentioned, is Marcus by Goldman Sachs. When I originally wrote about them they were offering less, but are now offering 1.8% interest on all savings accounts. On top of that, interest rates are only looking like they will continue to go up right now.

So here’s to some new adventures in life. I’ll be sure to try and keep you updated more! For today I wanted to share a few apps & products that I’ve been using recently, and share my thoughts. So let’s just get into this:

  1. Circle Invest App:  I have really enjoyed using this service. It’s an app in which you can purchase various cryptocurrencies. If you are familiar with crypto, it’s pretty much like Coinbase, but better right now. There are low fees, more of a variety of cryptocurrency, they make it easy to add money and withdrawal, and they have several other interesting features. One of my favorites is the “Buy The Market” feature where with one purchase you buy a fraction of every crypto they currently offer on the app.
  2. Cash App/Square: I really dig Square’s Cash App. Much like Circle, they make it very easy and quick to add money. You can then buy Bitcoin (only Bitcoin at the moment, no other cryptos). You can also use the cash to send to others with the app, or even get the personalized debit card which I did. They have “Boosts” you can load on them where you can get certain discounts when you use the card. A few examples are $1-off each Subway visit, 5%-off each visit at Whole Foods, and 10% off each visit to Chick-fil-A. Not bad at all! It’s overall just a real slick, simple app which I why I like it. You can use the debit card just like any other debit card you’ve used once you load it with money.
  3. Robinhood Gold: I am still a huge supporter of the Robinhood app. Recently I decided to test their Robinhood Gold service. With it you get access to extended trading hours, the option of using margin, and a few other benefits. The cost varies based on how much margin you take on, or as Robinhood calls it, “Gold.” I enjoyed using the platform and testing all of the features. As is always the case with margin, you have to be very careful. It’s easy to make bigger bets than you normally would knowing you have the access to margin. Besides Robinhood Gold, just overall I am very impressed with the Robinhood app. I’ve been trading options (mostly calls) here and there, and am still just learning, but that has become one of my bigger interests in investing. They’re risky, but can lead to big rewards if you’re willing to learn. Biggest thing Robinhood offers… the ZERO commissions for trading stocks, options, AND cryptocurrency. Yes, you can purchase crypto on Robinhood as well and recently they’ve been adding more coins. It’s still only available in certain states, but more and more of those are being added often as well.

I’m going to leave it with those three for now, but I’ve got a lot more that I want to share with you all hopefully soon. Just a few of the things I’ll be blogging about before not too long (hopefully) include the following:

  • Three of my favorite current stocks: Netflix, Nvidia & Tesla, as well as updates on previous mentioned stocks.
  • PayPal Working Capital
  • Adyen
  • GoDaddy Bookkeeping & Quickbooks
  • Vistaprint Promobox
  • Aldi
  • Shift card (Boo!)
  • Amazon Prime
  • the next recession
  • I.R.S. & taxes
  • budgeting
  • WHAT is happening to eBay?

As you see, lots of ideas and plans written down, very little time, but ultimately the passion and determination to eventually get these blogs out! If you have any thoughts, ideas, other suggestions, ANYTHING, just let me know. Have an amazing day!

Brent