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.

[SELLERTIME]

Let me tell you this..I thought it was a great program..got 9k for the business ..paid it off in record time.. faster then their estimation.. and guess what ? reapplied for the second loan  and got denied!! the customer service rep said I should have no problems at all with my cash flow and then I reapply for the second time and get denied..I am shocked.. and little peeved..One thing Ill tell you ..don't rush and pay early because that is what we did ..and then we got denied for the second loan.!! I dont even really have a seasonal business but everyones business is better during the holidays..A few cases from some crazy buyers and scam artists but that is about it, they all were settled.. I dont know what formula they use now to figure out who to lend to.I will call customer service tommorrow, but I dont think its going to help..very dissapointed..Has anyone recently been approved a loan?? has anyone ever get a second loan???  I guess back to Kabbage we go 😞

[SELLERTIME]

Yep just a update... Paypal customer service was very nice,,,but no help on why we got rejected... Projected 200K in sales , been a paypal customer for years and paid the first loan off in great time... Great product..but too bad they let you do it once only or they changed their formula on how to get a loan....

[dseffects]

Seems like working capital is a bit erratic.  I applied for my two initial loans (1st one for $5000 and 2nd one for $19,500), one right after the other, without a glitch, but when I applied for a third time, I got reject right away.  I reapplied two or three times a day for about two weeks and finally got the third loan (for $20k).  There was no rhyme or reason as to why I got accepted after applying about the 30th time or so, but I did.  I don't think the program is up to par in terms of being reliable and consistent, but if you keep reapplying, it will eventually approve the loan - at least it did for me.  Maybe, you just have to give it couple of weeks before you apply for another one?  Not sure.  All I know is that this working capital program is great when it works, but can be very random about its approval process.  Hopefully, they will get the kinks worked out and eventually be more consistent.  If anyone is wondering, my gross annual sales for '13 was $260k.

[SELLERTIME]

Thanks for the reply dseffects....we will continue on trying to apply fo the loan, with your advice..its a good rate and it worked out great.. so hopefully we will be approved again... 

[sdsstylus]

which country paypal account can apply for this ? and I have a new paypal account , can i apply with just new paypal account ?

from which link i can apply for it ?

please kindly elaborate the details.

[Infidel]

We got an invitation letter last october, filled it out and had the funds within minutes. It really helped boost our volume which nearly doubled in the 6 months it took to pay off the loan. After the final payment we were asked to fill out a survey about our experience in which we rated the program very highly. Then we were extended an offer to reapply for another loan....this is when the *removed* hit the fan....after applying the system says it cannot recognize us as a paypal customer nor can it verify our identity. We have reapplied 20-30 times since then at the direction of paypal employees to no avail. We simply cannot move forward. So now we are very dissaapointed and frustrated with a system that has been flawless up to this point.

[ColtRecords]

Yes you can add us to the list of highly ticked off people 🙂 We have been trying for almost two weeks now. In our case it keeps saying uable to verify our information. Well we have double & triple checked and everything is correct. When you email support at PayPal they tell you to call Working Capital but I have done that already 3 times as well. Finally the non service rep says that we will have to wait 30 days and we should receive a letter and we can then signup. Soooo very aggravating indeed.  John

[cellphonegirl]

I make about $120K per year in transactions, and got denied for the second loan because of a 60 dispute that somebody opened on ebay (by mistake, may I add!).

[buzbybixby]

We had the same problem. When we called PayPal they said the address verification was based on google maps. We pointed out our business address registered with the state for our company but they said google maps was the only way they could verify. Bad for us as google maps has our adress off by 40 miles actually showing us in another city! PayPal rep said use the other address (the wrong address) and reapply. When we asked if the rep could handle it on the phone they said it could only be done online. wow*

Waiting to re-apply as apparantly we tried to submit the correct address  too many times and the online application system is punishing us by saying we need to wait for a week before we can re-apply. 

Bottom line - you may want to call in to PayPal and check what address they have for you in google maps.

go figure...

[taigerl]

I had a similar experience. I applied last May after my slow season was over, and received a $3500 loan instantly. I put it into inventory and it doubled my sales this year. I payed the loan off in 3 months and went to apply again 6 months and 65k later while still in the thick of my busy season and I qualified for only a $1500 loan, which granted is better than nothing, but a lot less than the 7k I was expecting. I called Working Capitol and spoke with them. It's funny how the non service reps who have only been working there for a few months defend the company like it was their own, giving no logical answers to normal basic questions, but managers are a way easier to talk to. So I spoke with a few different managers that were way more sensible than the non service reps. They explained its a new system that has a lot of kinks to work out and my lack of qualifying for the loan amount I expected is probably not due to anything on my side. Though he could not change anything in the computers algorithm to benefit me (lame system to have defective computer software decide who gets a loan) he did assure me that in time the process should improve. Hopefully other banks will catch on to this very helpful and business boosting service and we won't just be stuck with web bank and it's defective computing process. I also called paypal and experienced even more confusing customer service. The non service rep assured me that no matter how many customers call in to complain about this service they will never do anything to change it or help us. Not sure why a very reasonable inquiry inspires such maniacal proclamations and counter productive die hard dedication for only $12 an hour. But then when I talked to a manager they assured me that it's got to be a glitch that will eventually work itself out. So I think it's possible this is true and will improve in time? But Complaints are important if anything is to change!