How Southern Elegance Candle Company is Defying Expectations

PP LongStoneFarm

We're helping small businesses navigate the lasting impacts of the COVID-19 pandemic.

The COVID-19 pandemic has been a singularly devastating event for small and medium-sized businesses. In partnering with the U.S. Small Business Administration in the form of the Paycheck Protection Program (PPP), we were able to provide funding access to small businesses that have traditionally been underserved and are helping them leverage digital tools to navigate the pandemic, and in many instances, even grow.

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We provide businesses around the world with access to capital and critical funds.

For more than 20 years, PayPal has been helping small business owners achieve their dreams. Through our business financing solutions, including PayPal Working Capital, we give businesses access to the capital they need in a way that's faster and easier than traditional loans. As of 2021, we have provided business owners with access to more than $24.2 billion in capital facilitated through 1.2 million loans to small- and medium-sized businesses (SMBs) worldwide, supporting those who have been underserved by traditional financial services. This includes facilitating more than $3 billion in PPP loans to SMBs across the U.S., with 75% of the loan portfolio consisting of loans under $25,000 and an average loan size of $26,000.

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We provide small business owners with efficient tools to manage and grow their businesses.

We’re continuing to harness our technologies like PayPal Checkout, PayPal QR Code, Venmo Business Profiles, and PayPal Zettle to make the management and movement of money more accessible, secure and affordable while driving sales for small businesses. In 2021, we introduced PayPal Zettle – a digital point-of-sale software enabling small businesses to sell across channels – in the U.S., and launched the Zettle Terminal – a digital point-of-sale device for mobile checkout in the U.K., Sweden, U.S., and Germany.

Additionally, small businesses around the world are participating in cross-border trade on the PayPal platform and we continue to leverage our tools and partnerships to allow small businesses to reach new customers abroad.

We invest in the next generation of entrepreneurs.

We collaborate with organizations who are supporting diverse entrepreneurs. Through our partnership with the Cherie Blair Foundation, our employees mentor female entrepreneurs of all backgrounds and, in 2020, we partnered with Grameen on their microfinance program for Black women entrepreneurs. We continue to partner with Kiva to lend money to low-income entrepreneurs and students around the world and provide no-fee processing for all loans. In 2021, we partnered with Singapore Centre for Social Enterprises (raiSE) to waive processing fees for participating social entrepreneurs, spotlight SMBs to Singaporean consumers via the PayPal platform and host an online digital skills workshop.

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