Chat with our moderator team every Wednesday between 1-2pm PT (4-5pm ET). Learn more in Community Events
I am absolutely shocked, we have applied for and received 6 loans through working capital over the past 3 years and this past December 2017 we applied and were approved for up to $93,000. Thankfully we didn't need that much and only took $10,500.00, we only take what we need. On that loan as well as ALL of the others we paid it off early, in less than 2-months.
Today I went and applied and was denied and that's not what shocks me its the reason we were told that we were denied. Okay are you ready for this, drum roll please............ Working Capital is not currently working with our industry!! Seriously I was told that at random Working Captial decides not to work with certain industries and at this time they are not working with anyone that services or repairs medical equipment. I hope its not your industry they decide not to work with next. Wow it must be nice to be so big that you just decide you know lets work with only lawyers this week and with those in electronics next week, etc. We processed over 1/2 million dollars with paypal last year and even started running our credit card processing through them and this is the thanks we get. The personal service we get is for some kid named Joey to tell me that he understands my frustration but its not a decision that can be overridden. WEll guess what Joey, I've decided that we will no longer process our credit cards through paypal and we will divert as many sales as possible that go through eBay to credit cards or even checks. This is outrageous. Tell me sorry sir you haven't been doing as much business or we're not handing out any new loans right now but "we're not doing business with your industry today". Oh BTW Joey assured me that he was sure I would get approved soon if I just keep resubmitting my application every 48-hours because the industries they do business with change daily.
I would love to hear from some paid voice at PayPal to explain this one where everyone understands. In the meantime I'm gonna make sure as many other people know as possible through social media, that's my rights. Let me guess you're not accepting complaints from people with this particular problem today so we can't post your complaint.