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.

[scotyen]

Thanks for the update.

At least you've heard something. I haven't heard anything. If I want to hear something I have to call in and then they just repeat the same thing. "We know it's a problem." No solution in sight. Sad.

[B-Juice]

Paypal must have, no they DO have the insight to know which merchants are , or are not eligible for a loan. Why target a merchant with a banner ad if that merchant is not eligible?

After seeing the banner on my account page for a few days, I'd presumed a small loan was near enough a done deal.

Not so.

Error code 643 for me.

I'm just printing off some "Working- Capital-Refusal-Code" Bingo cards. if anyone wants to join in the fun please message me.

Eyes Down!

[sadl]

It has been well over a week now. Any time I call paypal they tell me that its essentially out of their hands, and they're just 'waiting' for an engineer to look at it.

Where do the engineers sit? Can someone go and walk over to them and say "Hey, listen, we have a bunch of people who are being refused loans that they should be approved for because of a huge glitch on our side. Can you fix it for them?"

Why is it nobody knows what's going on? Surely this isn't a difficult fix for the technical team to make?

[B-Juice]

you know, i think theres some sort of system overhaul, or new processors/software or something along the lines of going on

at the moment.

Ive had a paypal account for years, merchant account for last 3 years, healthy turnover, got refused the working capital this morning. 

But also 2 weeks ago, out the blue, access to my account was limited, and I mean , fully cut off. Couldnt even log into resolution centre, kept going in circles for about 5 days trying to jump through hoops to no avail.]

Eventually a young lady in Ireland i finally got to speak to sorted it out in minutes, very helpful, but didnt really have a reason why it had happened.

On another note, how do I upload an avatar?

[sadl]

It's really frustrating. Nobody at paypal seems to know what is going on. Other than the elusive "engineers are looking at it". Do they not hold meetings or communicate via email to get updates so they can relay something back to customers and give them an estimated timeframe?

If this was a bank, you can be sure it would be urgently resolved.

[sadl]

It's fixed! Finally! The holds are no longer on my account.

Although I'm still getting the error code. Paypal say it takes up to 3 days for the system to 'catch up'.

[scotyen]

Same here. The hold has been removed from account but still being denied loans for the last two days. I get error code 641.  Hopefully this will work tomorrow.

[sadl]

I've just been accepted for a second loan, but the offer is tiny. Much smaller than the first loan, even though the sales are up.

Does anyone know if, when accepted, the maximum loan amount will always be 18% of sales over the last 12 months? If so, should i wait to phone them on Monday to see why this is woefully short of that percentage?

[sadl]

Now my loan offer has been lowered by $2000 in the space of just a few hours. Wtf?

[BossLady2017]

Did it work?