Family-owned DADDYRICHRECORDS has become an institution for music lovers in Sydney. Founded by Carl Florance, DADDYRICHRECORDS was born from Carl’s passion for collecting vinyl records, as an outlet to share his love for music with his community. Today, the brand stocks over 10,000 new and used vinyls, attracting customers from around the world.
While DADDYRICHRECORDS is a thriving small business today, its early days were not without struggle. Carl, who faced challenges with substance use and mental health issues in his younger days, had a poor credit score that hindered his ability to take loans from traditional banks. As a result, he struggled with getting capital to grow and invest in DADDYRICHRECORDS, resulting in a shaky start for the business.
This plight is not unique to Carl – the *PayPal eCommerce Index 2025 highlights how money worries and rising costs are the number one challenge impacting Australian SMBs day-to-day.1 44% of SMBs say that operating costs have risen and that the state of the economy is their single greatest business concern.1 It’s hit such a difficult position that 30% of SMBs are now concerned with simply staying afloat and making a decent living, up 11% year-on-year.
Securing loans for steady cashflow, operating costs and investing in business growth has also become more complicated. Recent rate hikes, stringent lending criteria and climbing interest rates by Australia’s lending organisations have resulted in increased difficulty for SMBs to access suitable financing. And yet, overall lending has increased by 12% in the last year,2 reflecting an increasing pressure for SMBs to sustain operations and invest in growth despite more challenging borrowing conditions.
Given the circumstances, SMBs today may be seeking more streamlined, flexible alternatives to traditional loan options. PayPal Working Capital was established to fill in this gap, and it’s the solution Carl turned to in order to strengthen and grow DADDYRICHRECORDS.
PayPal Working Capital is a cash advance based on your PayPal sales, account history and other criteria. Unlike traditional loans, most business owners don’t need external documentation to prove their eligibility.
The cash advance is also easier to keep track of. There are no surprise fees – just one fixed fee. Repayments are also flexible and deducted as a percentage of daily sales, allowing SMBs to better manage their cashflow and ease the stresses of lump sum payments.
PayPal Working Capital offers SMBs a straightforward financing solution tailored to their unique needs. With its quick approvals and flexible structure, it empowers businesses like DADDYRICHRECORDS to seize growth opportunities and achieve milestones. And that’s important, given that SMBs lose out on an average of $22,000 in potential revenue due to insufficient working capital.
“The approval from PayPal Working Capital was monumental in changing how our business ran,” shared Carl. “When I was approved, the funds were instantaneously available, which opened up the doors for us to purchase our first vehicle. We were able to do so much more to build the business, expanding DADDYRICHRECORDS from just online to include a brick-and-mortar store.”
To apply, businesses must be based in Australia and have had a PayPal business account for at least 90 days, processing a minimum of $15,000 in eligible PayPal sales annually.
The application is just three easy steps:
As rising costs and financial pressures continue to weigh on Australian SMBs, alternative funding options like PayPal Working Capital may offer a lifeline. For businesses looking to navigate economic challenges and invest in their future, it’s a solution that can make all the difference – just as it did for DADDYRICHRECORDS.
Find out more about how businesses are faring, as well as the latest consumer preferences and expectations in the PayPal eCommerce Index 2025.
In partnership with three expert business owners, the PayPal Bootcamp includes practical checklists and a short video loaded with tips to help take your business to the next level.
We'll use cookies to improve and customise your experience if you continue to browse. Is it OK if we also use cookies to show you personalised ads? Learn more and manage your cookies