PayPal working capital loan error code 704

[Lotsogritts]

I got my first loan in February for $3000. I paid it off early on Tuesday, $639 (19% of balance), payment has posted and cleared. When I did the math of the prior 12 months I only came up with $14,540 under the $15,000 min required. I played around with the calc and figured out PayPal had me at $17,428 in sales. Went to apply for a 2nd loan thinking hey I'm all good. Uummmm nope. According to my math my sales went up to $29,427. So, I played with the calc and figured I was good for 6,600 easy. Error code 704: Currently, your PayPal account activity is insufficient. The level of account activity is determined by PayPal account verification status, how long the account has been open, account usage, seasonal trends, and/or bank account verification status. No idea what that even means it's all over the map. I probably do about 25% of my business with card. Last 4 months 54 transactions average 14 a month. Prior 4 months (before I got PPWC) 43 transactions average 11 a month. I have had the account for over 13 years. I do housecleaning not really any seasonal trends. Bank account has not changed. So, help me someone please. I did get the email stating that my PPWCL was paid in full.

[3v]

It is paypal/ebay, nothing good ever lasts. Customer service will say its some magical computer that does all decision making and it wont tell them whats up. Then they will tell you to keep applying. How long? days, weeks, months, years, who knows. Time to look elsewhere for funding. 

[ripj]

absolute rubbish.. i have had multiple loans. all within time.. a couple of hiccups with returns and catchups.. but literally i went from 1000 to 2500.. and the 2500 in less than 9 months.. huge fee.. fair.. it's a big amount for my sales level.. denied.. I was literally taken back. There absoutely has to be a new bank or algorithm involved.. and i'm thinking iits a bank.

[CMHernandez]

Me too!! My sales in June were $7,000 because I took a mini summer vacation. I got a PayPal loan in July for $10k my sales for July were then $24k and $17k in August. They claim the computer doesn't like the influx in numbers. Well I was working hard trying to pay back the loan I had gotten. I paid back a $10k loan in 59 days. Reapplied for another and got denied. I called customer service and all they say is keep applying. I've been using PayPal working capital for over 2 years now and I have never got denied until now.

[dalmielove]

I don't understand why there are so many denials going around (from what I have read) when people pay off loans quickly or in lump sums at the end?