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LoanBuilder, A PayPal Service Review: Should You Apply?

A provider of short-term loans to small businesses, LoanBuilder stands out thanks to a quick and easy application process and no extra fees.

    Chris Motola
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.

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    Daniel Naseath

    Organization Name: DANCAN Pest Control

    I don’t have time to write a book to go over all the details but long story short I got bounced around from rep to rep being told opposite things. The end result was that they kept charging me for a month for a loan that they received the funds for to pay it off. I refinanced my loan with them through another vender and I was stuck paying both venders while the two venders kept pointing fingers at the other one saying it was the other ones fault. It burnt a lot of my cash flow and cause some real strain on the company. It made it hard to make payroll and I had employees leave during it cause they were scared I wouldn’t be able to pay them.

    • Organization Name: DANCAN Pest Control
    Gary May

    Well I am glad that I took the time to read the comments. I will move on……..

      Greg Clark

      Organization Name: Clark Cars Of Arizona

      I should of read the reviews before wasting almost a week dealing with this outfit. I have borrowed hundreds of thousands of dollars thru the Pay Pal Working Capital program thru the years for my Ebay business. No issues. Simple . Easy. Pay it back. Do it again. Thought this would be the same. It is not. They want everything under the sun .They say just a few more documents needed .Send them. Then they want something else. After they asked me for the kitchen sink, I said enough is enough. It is just not worth the hassle to be given the complete run around on something as simple as a loan .Complete, total waste of time. Live and learn And never deal with LoanBuilder.

      • Organization Name: Clark Cars Of Arizona

      Organization Name: kaumlaidee inc

      DO NOT WASTE YOUR TIME with these people. I repeat DO NOT apply for loan with loanbuilder. They are a complete waste of time. i didn’t believe the reviews i have read and push forward only to see whats written about them is true, that they will gather all your personal/business info, hassle you to get them documents for months, and when they get it all, they will say your credit is the reason for the denial, eventhough, they knew going in what my score was. Still they had me submit more docs and even relentlessly pursued us with countless phone calls to submit this or that. they call loanbuilders, supposedly suppose to help people with less than perfect credit obtain credit, and they denied me, the people they advertised to help, what a complete phony! if you are reading this, do not take this comment lightly, i speak from experience, Dont apply with them. They will let you down and waste your time. Stay away!!!

      • Organization Name: kaumlaidee inc
      Du Alent

      DO NOT APPLY FOR PPPL with them – paypal should be ashamed the loanbuilder loan wastes your time and is obviously NOT interested in providing PPPL to small businesses.They have you provide them private personal business and tax records only to tell you that you only qualify for loans that are x% or that your credit score is not good enough.PPPL rules do NOT allow determination of loan based on credit.PPPL is a 1% loan that may be forgiven not 3-5% loan.We’ve seen several clients WASTE their time with this PAYPAL advertised PPPL lender WHEN they are obviously NOT interested in following the rules and providing PPPL based loans.At the worse possible time – PAYPAL and loanbuidler FAIL the small business community that they should be supporting. In my opinion it couldn’t be worse. I will NOT be using PAYPAL in future if I can at all avoid it and we should ALL seek accountability for their failure during this crisis.THANK GOOD I know other financial institutions that will complete this type of loan as required by PPPL.I will also have to monitor the Merchant Maverick (small business made easy) BECAUSE what I’ve seen is NOT making small businesses easy at all!Du [email protected]


        This comment refers to an earlier version of this review and may be outdated.

        Jessica Dinsmore

        Hi Du,

        No specific credit threshold has been stipulated, however, there’s nothing in the rules that forbids lenders from checking credit and it makes sense that they would. Payment history and derogatory remarks, delinquencies, judgments, etc., will be considered. So it’s possible that if a client of yours had an unsatisfactory payment history, the lender may not be willing to offer a PPP loan, and thus offered an alternative at a higher interest rate. Approval is not guaranteed, unfortunately. We do work tirelessly to provide accurate and unbiased information to the small business community at no charge, in an effort to provide information to business owners so they can make smarter business decisions. I’m sorry you had a negative experience with Paypal – you aren’t alone! There are many options out there, and what works wonders for some, will fail miserably for others, unfortunately. If your clients are still looking for funding, we have a great resource on PPP /EIDL alternatives that may be helpful.

        We’re on your side and wish you the best!

          This comment refers to an earlier version of this review and may be outdated.


          Terrible Company. my business suffered from covid-19 and i applied with paypal loanbuilder . they approved me and i signed the documents after a week the emailed me saying they don’t cover this industry. unbelievable wasted my time. beware of this company. they just want your information and then decline you. my score is 735 so its not that. go with your local bank and don’t use them.


            This comment refers to an earlier version of this review and may be outdated.

            Kristine C

            Organization Name: Exodus Design

            I do business with PayPal all the time. They have been my “goto” for years. However, I applied for the PPP loan through their recommendation and partnering with web bank/loanbuilder. I filled out all the info, uploaded all my documents. Waited. Was denied based on my credit score of 661. They also noted I “Did not supply information requested”. I was NOT notified or contacted to supply them with additional info.My credit records has my STUDENT LOAN which paid off in full, but had 3 late payments back in 2014 and a LEGALLY PAID IN FULL account, which I paid off in 2019, $5000 on $5500. That is why I was denied. THIS PPP supposed to be guaranteed by the government. WHY so harshly denied???? I am VERY upset at this.

            • Organization Name: Exodus Design

            This comment refers to an earlier version of this review and may be outdated.

            TERRI ONEAL

            Organization Name: River Arc Ltd Co

            I applied for the PPP through Loan Builder. I received an email from Loan Builder on Documents they needed. Drivers License, certificate of Business Certificate and payroll calculator and verification documents and copy of bank statement. I uploaded all the documents.A couple days later I go to check on status and Loan builder says I have no open loan applications.Since I have sent several emails asking about what has happened with no reply.Unbelievable and so disappointing. Small businesses are starving, unable to pay their bills and this is the treatment we get. I have wasted 2 weeks depending on LoanBuilder. Go somewhere else if you are in need of funding. I give them an F

            • Organization Name: River Arc Ltd Co

            This comment refers to an earlier version of this review and may be outdated.

            Todd Ingram

            Organization Name: 3solutions llc

            Nothing but a loan process, using the wording of sba ppp application, BS..

            • Organization Name: 3solutions llc

            This comment refers to an earlier version of this review and may be outdated.


            I suggest NOT wasting your time utilizing Loan Builder for Covid-19 PPP Paycheck Protection Program.On the same day, I applied through 2 sources (Square Capital and PayPal Loan Builder) for the Pandemic Federal Assistance Program, PPP for paycheck protection.I have been approved through Square, forwarded to the SBA which is now in the process of finalizing my request.At the same time, PayPal Loan Builder for PPP Program, sent me an e-mail that they were “unable to verify my identity” yet, further in the e-mail, provided me with my personal credit score in the e-mail as well as notified me which site they utilized to pull my business credit. A direct contradiction, because if you weren’t able to verify my identity, then what type of reckless and fraudulent process did you take to move forward with pulling credit? If you can’t verify me, then why did you pull both personal and business? And by the way, this is supposed to be a business driven program, and has nothing to do with credit personally. And, businesses that follow the rules will actually have this translated into a grant.I suspect that PayPal is adding criteria on top of the government’s qualifications, and like banks did with round 1 funding a couple weeks ago, they are personally picking who they want to distribute funds to. I’ve already notified the Consumer Finance Protection Bureau (CFPB), the Better Business Bureau (BBB), Governor Ducey, and Greg Stanton with the House of Representatives. I was also one of the leads in our small business group that managed to get a story published on CNN about the handpicking of clients by banks. I’ll be contacting the story editor again and asking him to do an update, with my new information about this.In the end, I’m glad I made the move from PayPal merchant processing to Square last year. And very glad I’m not partnering with Loa nBuilder, and would absolutely not recommend Loan Builder for the PPP program.


              This comment refers to an earlier version of this review and may be outdated.


              I need to reset my password on loanbuilder. It gives me the option for New password, then confirm new password, then a box that say “ANSWER” What goes in that box?

                This comment refers to an earlier version of this review and may be outdated.

                Jessica Dinsmore

                Hi Ruth,

                Unfortunately, we don’t have the answer either. You’ll probably want to reach out to LoanBuilder directly to get some assistance with your password reset. Sorry we can’t help!

                  This comment refers to an earlier version of this review and may be outdated.

                  John deppen

                  Organization Name: City Buzz, inc

                  I began w a wonderful experience w my first loan. Very quick and efficient.The additional funds request is/was a complete nightmare It was like they never dealt w my business before. Asking for extreme amount of information- even w my perfect payment historyAfter 3 weeks I gave up and cancelled the application. I’ll never due this route again

                  • Organization Name: City Buzz, inc

                  This comment refers to an earlier version of this review and may be outdated.

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                Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

                Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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