Hi,
I just checked my settings and it pulls in my business name. From within PayPal, click the Profile link and then on the left select "My Business Info" and make sure your business name is listed in the Business Information section towards the bottom.
You may also want to check the Invoice Templates section under "My Selling Tools." You can create a new invoice template with a logo which replaces your company name.
I'm glad you asked this because it got me looking at my settings and I realized that my name was set to show on credit card statements instead of my business name, oops.
HTH,
Joe D.