Paypal Working Capital --- Online Application Not Working

[BBFYM]

Anyone else having a problem with the Paypal Working Capital online application not working.  I have filled out the form completely only to click the "View my offer" button to be told that I need to fill out the form completely.  I am completely dumbfounded by this as I am an IT person by profession and Paypal won't return any of my requests for help with this issue.

[Cyber-dawg]

I dont think I got as far as you did. I was always declined. Did they ever give you the money from them?

[jadestreasures]

Hi! I was curious how long you waited after you paid your first loan off to apply for the second? I'm a little nervous and REALLY Need to be approved. I paid it off yesterday (Monday) around 4pm. And it does show my loan is now paid in full and final payment has been cleared and processed. But some are saying its best to still wait 48 hours? Thank you for any help you could give!

[Cyber-dawg]

Working Capital appears to be working now. I think as long as it shows that your payment has cleared, then you should be good to get another loan. If you are seeing advertisements for Working Capital when you login to your account, that is probably a good sign and you should have no problem. Even if you do not see the add I would still try if it were me.

[jadestreasures]

I waited 48 hours just to be safe. And reapplied today. Was approved with no issues! So I'm happy. It's been a great experience for me so far! I was just a little nervous after reading everyone else's issues! But I'm happy to say it went smoothly for me today! Thanks!

[ReunionManager]

We took out a $20K loan on April 16th paid it back in full completely on June 15 (59 days)  went to apply again and were denied. We did over $850,000 in transactions last yea on PayPl and between now and the end of the year will do about $500k in transactions. 

Not sure what paypal is doing but they need to fix what ever it is that is making these rediculous decision - computer or human.

The program it self is great but too often you can not get consitency with PayPal, they changed the game without telling anyone, It seems as though too many laywers may bei involved and are turning this program into a losing proposition. PayPal keeps telling us they are our partners - not feeling the love here at all....

[Cyber-dawg]

I had the same experience. I had several loans, paid them back early then one day they were down for 8 hours for updates to their computer system and after that no been able to get another loan. Talked with someone high up at Paypal who apparently did not know what she was talking about because she said nothing had changed and that it was something wrong on my part. The letters I get say its based on my sales, yet my sales have increased not decreased. I suggest that you post your comment on their Facebook page because they do respond to that. I have written an old fashion letter, posted comments on paypal facebook pages, sent emails to various people at paypal, made phone calls and apparently paypal is either broke financially or broken intellectually. What they are doing is crazy in my opinion. This is all my opinion, not a statement of fact.

[ReunionManager]

Apparently if you have over $200 in challenges on your account over a 90 day period they will deny the loan regardless of your sales volume or what the challenge percentage is. 

Ours was a total of $600 on $229,000 in sales for a challenge rate of 0.267 %. 5 challenges out of a 1000+ transactions 

Something is incorrect with their algorithm - a less than 1% challenge rate should be considered a fantasticly low rate. 

Their acceptable fraud rate according the their fraud department is 3% so I think the programmers missplaced a decimal point in the algorithm.

[SELLERTIME]

Again I think its one of the best working capital programs on the market..and we were lucky to recieve a decent size loan like two months ago..All i can say is dont rush to pay it back...it doesnt pay..

[jbideas]

I agree, when it works it is fantastic.  Cheaper than the other "working capital" loan providers by a LONG SHOT.  This is our third loan and we are down to less than a thousand.  This one was approved the day after we paid off the old one one the first attempt.

I think people should think about the method of changing the way you write your address as that seems to trigger something that leads to approvals for previously good performing borrowers.

You can read about that earlier in the thread.  It worked for us on the second loan after many denials.  

[ReunionManager]

Write Address ? Not following you on that