PayPal Working Capital Reference Error Code 646?

[notdotcalm]

Can anyone tell me what Error Code 646 means?

Trying to apply for second working capital loan and it keeps denying my application.  I'm not being refused the loan, it is rejecting my application for an error that I can't figure out.  All of my info appears to be correct.

I have tried 7 times so far over the past 3 days.  I have removed the po box line from my address, double checked phone numbers, etc.

If I just knew what the 646 was I might be able to target the problem and fix it.

Thanks in advance for any help.

[flashkaz]

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~!  

[sadl]

I'm having the exact same problem... Just paid my first loan off early. Sales are up. Excellent history with Paypal - no disputes. 

However, I notice that there is some odd $10 "hold" in my paypal account. I'm not sure what the hold is for. It doesn't say. Would this affect the application? 

[flashkaz]

I'll bet it is. You should call them tomorrow to see what it is. Follow the money 😉

[3dg]

I waited a day and tried again. It worked.

[sadl]

So this $10 hold on the account is a technical glitch on Paypal's end. I phoned the and they've raised a support ticket to try and fix it. Apparently its affecting quite a lot of customers. It can take anywhere from 2 hours to 3 weeks to fix. 

Once it is fixed I then have to wait 72 hours for the systems to catch up and then try for the loan again.

O_O

[scotyen]

I am having the same problem. I noticed that $7 was being withheld a few days ago. I didn't think much of it because it is such a small sum. Now that I've been denied for my third Working Capital loan due to "a hold" (reference code 641) I am trying to figure out what is going on.

There is no apparent reason for the hold. No transactions are on hold. In fact I haven't had a transaction for $7.00 in the last 60 days. No email from PayPal about why the funds are withheld. So I am left in the lurch. I will have to contact customer service when they open.

If I knew this would happen I would not have paid off my loan early. There is no benefit to an early payoff. I was planning to get another loan to buy more inventory. Now I'm out the thousands I used to pay off the loan until I can figure out what is going on.

Please let us know how and when your problem is fixed sadl.

Thanks.

[scotyen]

I talked to customer service. I was told that this is a known issue for people using Working Capital. My account was refered to technicians so hopefully it will be fixed.

[sadl]

Any luck yet? I still see a $10 hold and thus still keep getting rejected from working capital.

[scotyen]

No luck. PayPal customer service told me to call Working Capital as they know of the problem and could issue a loan anyway over the phone. Working Capital tells me they indeed know of the problem but can't do anything about it as it's on the PayPal side. So, after many phone calls and emails I am back where I started.

I'm told the tech team is "hard at work" but as it has been many days I'm not so sure. My regular banks have always been able to handle problems within minutes, not days. And they have been able to do sensible work arounds when called on the phone over technical issues.

I sincerely hope this can be fixed soon as I spent a lot of money paying off my Working Capital loan early for no benefit other than being able to reapply.

[sadl]

I'm in the same boat. Going between Paypal and Working Captial people, they say the same thing. "Engineers are working on it."

I keep getting told that some people see the problem resolved in hours, whilst others weeks. It seems that some engineers are faster than others.