Too soon? Paypal Working Capital denial

[sadl]

I've just finished paying off my second loan. Sales are up over the last few months. 

The loan was paid off manually yesterday. Today the payment "completed" and i was able to apply for another loan. I did that and got the 650 error code.

This usually means the loan has been denied due to sales fluctations i believe. Is it possible that this error could be generated from appplying too quickly? Should i wait longer? 

[rt2013]

There are a lot of us getting denied for 650 right now, if you search the forums for "650" you can find the other threads. I was denied for 650. After reading all the comments about 650 denials, I had a buddy of mine apply (also a pro-seller) and he also got 650. CS will tell you that it is due to fluctuating sales, but, my theory is that they aren't lending money right now and 650 is a blanket denial reason. I was on my 7th loan. Hang in there buddy.

[pantaed]

Yeah, going on a week after fully paying the loan and getting 650 every day.  I actually spoke to WeB Bank to see if they were getting out of the lending through Paypal business or if there were any other new restrictions and they said they have no control over Paypal's lending criteria, that they are actively lending through other entities and they recommended I try two other vendors, Lending Club and Avant, but those are basically for personal loans.

I'm guessing Paypal is either tweaking their lending criteria algorithm  or due to the overwhelming popularity of PPWC, they may be trying to get better terms from Web Bank or another bank, given that PPWC fees/rates are pretty much the lowest anywhere.  Too many people getting rejected with seemingly nonsensical reasons after getting approved for multiple loans previously.  I'm trying to hold out before going to a Kabbage or something, but I paid off the large balance hoping to get another and buy inventory, had I known I would not have paid off the balance.

[sadl]

Really dissapointed in Paypal to play these kinds of games. Their error codes should be more honest. 

"No funds to loan at the moment" or something else.

I phoned up support to see why i was being rejected, considering my sales are up, they are consistent, and i had paid off my previous loan in full. 

Was told that the criteria for getting a loan changes day by day and that it could be due to "fluctuations" in sales - which of course there are none. After I pointed out there were no fluctuations, i was told that perhaps my customers aren't diverse enough. "But that was good enough for your two previous loan" I responded. To which the person told me that their critera constantly changes, and that maybe it will change again soon to be more favourible to me.

In other words : They don't have a clue. 

[mogrill12]

I'm getting nervous!! I owe about 130.00 on a 3,000.00 loan. Should be paid off within a week. I was really hoping to get my 2nd working capital loan for some new ventures and inventory. Is there anybody out there actually getting the loans right now?

[sadl]

The error code has now changed to: Code 703

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.

I give up!

[Lotsogritts]

I got 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. Reads the same as yours lol