US company Capital Access Network (CAN), is offering its clients the choice to have capital funds deposited into a PayPal as well as a traditional bank account.

CAN, a provider of alternative financial products to small businesses, is offering the new service to give its clients faster access to working capital.

Capital Access Network CEO Daniel DeMeo said: "Our priority is to help small businesses quickly get the working capital they need to grow,"

"Online merchants and other businesses that rely heavily on PayPal don’t want the extra hassles of transferring money between accounts. By offering a direct link to PayPal, we remove one more hurdle that previously stood between business owners and their access to capital."

Small businesses that use CAN’s online application to apply for loans can now choose the PayPal option at no extra cost.

In the last three years, CAN has given small businesses more than $400m in business loans through its NewLogic Business Loans subsidiary and its online lending platform.

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