Liberty SBF CEO: New PayPal Loan Program Is Unique But No Threat To Traditional Lending… Yet (Loans.org)October 4, 2013
Liberty SBF CEO Alex Cohen was asked by Loans.org to comment on the rise of alternative lending programs and specifically the new PayPal loan program that according to writer Rebekah Coleman “requires a single fixed loan fee but does not charge interest payments.
“Furthermore, borrowers repay their business loans only when they have sales. Repayments are based on a percentage share of PayPal sales and occur automatically,” Coleman explains.
Mr. Cohen said that he’s not surprised by the new program. Lots of new alternative lending and micro lending companies have been cropping up over the last few years.
“There seems to be a rush by venture capital and tech companies to invest in companies that are changing the landscape of payments and lending,” he said in the article.
To read the story titled “Sales Not Deadlines Fuel New PayPal Loan Program” and see Mr. Cohen’s full comments click here.