Working Capital

[Clueless007]

Anyone else having issues with Working Capital? I had 5 successful loans, all paid in 60 or so days and now its giving me an error message 646. Called to inquire, but no help there. Something about it because a decline in sales?? Yaahhh, it's called the HOLIDAYS! I am so bothered. As a lender, you should also consider the payment history!!! 

[jdearns1]

Mine went through today I think we just have to wait the 4 days

[SofisCloset]

I had the same issue applying for the 2nd loan, i waited the 3 days as advised, then i tried and was declined every single day there after. I waited 30 days and tried again and i was accepted straight away, with my 3rd loan i did the same thing and was accepted again. I think the 3 day thing is a myth (or a typo?) 30 days is the magic number, in my case anyway.

[TheLCKR]

I paid off a $20k loan (my third working capital loan) in 78 days, was declined when I applied the next day and I have been declined ever since February 11th. Customer service will not give a specific date, but just state that some issues may take up 12 months before being removed off of your account. I had an ebay transaction in which the customer received the shoes, left positive feedback, and then tried to place a chargeback. The case was ruled in my favor but I have still been denied the ability to receive another working capital loan. The error code is 640. Has anyone had this error code before or has had any luck or could provide a more accurate timeframe as to when I may possibly be able to apply for another working capital loan? Any help is appreciated. 

[SofisCloset]

I literally just kept trying every day. Until one day it worked, ive read so many posts like this and it's just trial and error, we dont know and paypal dont know either! Some folks have been accepted for another loan after weeks, some months. From my personal expirience it was 30 working days from paying off the previous loan + the 3 days you need to wait for it to confirm you payed it off, that i was then accepted for another. Before that i was also given the error code. Sorry i dont have any more answers, just keep trying.

[Dino68]

I am paying my 3rd Paypal capital loan back it was over 10k but I wont be needing to take another 🙂 I think people should not rely on this as source of lending. Just because a person might have 2 or 3 loans all paid on time without issue does not give entitlement to another loan. Like any lender traditional or not they will have there own critera which will never be made public. Part of it (I was told by a rep) is they offer this to build business - which means more sales through paypal and more revenue for paypal long term. If the system does not see business increase - even if they are no problems with the account it can decline. The whole point of paypal capital is to build your business not shore it up.

Its helped me greatly get ahead and unless something insane happens over the next 6 months we wont be needing another. I should have our current loan paid off by October.