Paypal Working Capital Denied for #602?!

[User602]

"Our records show your business falls into an industry category that doesn't qualify for PayPal Working Capital"

Has anyone had this problem? I have paid off 2 successful WC loans and was excited to apply for a new one for my business. I was shocked I was denied (paid off the second, of the same amount, in half the time!) and every time I apply I get this message. I called and was told that I should try in another week, that perhaps my information needed updating in what category I do business in? But the last 2 loans were no problem at all?

Has anyone experienced this or know how to repair this issue?

[hydn]

same here. 3 succesful loans. Not sure was reference code 602 is when I can't reference it anywhere.

[User602]

I called. I am on a Premeire account, not a business. Maybe that is part of the problem with new updates. But when I called they said try again in a week because possibly my business was categorized wrong on their side. I can't find any info on  602 anywhere either. You and me is it.

[hydn]

How long after paying off loan was your attempt? Are you traveling outside US while applying?

[User602]

It was the next day, soon as it cleared. Just as the last one was. And it was in the US. I have tried several times and just get the 602 message.

[hydn]

Same here. Tried the next day. But they did say allow 3 business days. Not sure of that's it. The last time I was denied it was because I has a couple hundred owned in the "paypal credit" program. I paid that off before the 6 month window and tried again and it worked. Strange.

[User602]

Let me know here if you get it to work/approve you. I am still getting the 602 message every day.

[hydn]

I will update. Do you have an outstanding paypal credit balance? Last time that's what blocked me.

[User602]

Nope. I also haven't have any disputes, returns, anything like that in years. I'm perplexxed.

[hydn]

"Nope" as in no paypal credit balance? They make more money from paypal credit than working capital esp if unpaid. So I think the system blocks loans with working capital if paypal credit has a balance because one could pay the other thus reducing potential 20% interest profits.