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3dg New Community Member
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Re: PayPal Working Capital Reference Error Code 646?

Have had working capital for over 4 years. Today was the first time was declined with the 646 error. The loan in the fall was small, but sales were worse. They are better now, so who knows why this error? The paypal working capital loans were larger and better in the beginning. Less restictions. Today, they are not much different than a bank or other lender. Dissapointing. We do every business transaction with PP, including merchant. I know I can get it cheaper elsewhere. They've made thousands and thousands on us over the years, so to have paid this loan early, in full, and then declined for the next is **bleep**.

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kingdaddy2004 Contributor
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Re: PayPal Working Capital Reference Error Code 646?

Having problems myself. Got and paid off my first loan tried for a second and was turned down and keep getting turned down not sure why. I keep getting reference code 255 not sure what that means . Does anyone know what 255 is?

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Clueless007 Member
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Re: PayPal Working Capital Reference Error Code 646?

It looks like the same issue is happening to many of us. Holiday sales were slow for some of us that do not sell new items. Are they not taking that into consideration?

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palmabros New Community Member
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Re: PayPal Working Capital Reference Error Code 646?

I spoke to Paypal customer service after I received the same error. It turns out it was based on a fluctuation in sales. I know my Ebay sales slow way down in early december until I start selling again in January. It was suggested that I re-apply in a little while after getting in some daily payments through paypal to even out that fluctuation. The rep also told me that there is no negative affect on applications and to feel free to apply each day as it may change based on consistancy factors. Hope this info helps.

 

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Clueless007 Member
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Re: PayPal Working Capital Reference Error Code 646?

[ Edited ]

My sales range from ?? to ????. Daily. I have gotten told several different excuses but the bottom line is our business more than qualifies above and beyond expectations. But yet still having issues. This **bleep** should have been taken care of asap by all the reps. But now were talking two or three weeks. Let's see if they come trhough by Monday. That makes 3 weeks. Let's see what service they provide. 

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Clueless007 Member
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Re: PayPal Working Capital Reference Error Code 646?

Oh trust me that should have changed. My numbers in two weeks meet their 3 month requirement. 

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Kernow68 New Community Member
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Re: PayPal Working Capital Reference Error Code 646?

I have had the same problem. Took out a $23000 loan around Oct16. Paid it off early in January 17.

 

Reapplied for a loan and was offered $21,000. Did not take it up immediately as I had to discuss in with my wife. Went back two days later and was only offered $4000 or $4500 (can't remember exactly). Rang Paypal and they basically said "try again in a few days and you'll get a bigger offer". Tried again and was offered $7500. 

 

I thought "that's an improvement" and tried again the next day and got the error code 646. Rang Paypal again and was told that code meant I had been denied.  The excuse I got was "that is how our system works and we can't manually change it".

 

So having used Paypal for over 10 years and taken out 6 working capital loans for over $78,000 since they were first offered, this is how Paypal treats me. It is very disappointing.

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heirjordan New Community Member
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Re: PayPal Working Capital Reference Error Code 646?

Having the same issue. You would think paying off your first loan would gain you some favor with the "system", but it does not seem to work that way. During November and December I had great PayPal sales, but January slows down. Three weeks into January and my application is being denied....

 

I understand it's an automated system but PayPal really needs to refine it. 

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flashkaz Contributor
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Re: PayPal Working Capital Reference Error Code 646?

I think this is likely a catch-all code that has a different reason for everyone. I have had 4-5 loans through PayPal that worked out splendidly, but I was just turned down with this code. My sales are up 85% over last year, so it's not that. I think I have sold some risky items that I didn't know were risky and I was given a warning about it. Now I can't get PayPal Working Capital =(

 

I guess I will have to use Amazon Lending which costs more and has a more aggressive repayment schedule. Or credit cards which I hate to do because it knocks my credit when I use them too much. Or Kabbage. Kabbage is ok, but be sure to borrow enough money the first time or you end up with multiple payments due - they do NOT logically lump them together like a credit card. I think I will call PayPal on Monday and see if they will change their mind. They really are the best option all the way around if most of your payments come through them. Repayment is painless~!  

 

 

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