Working Capital
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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!!!
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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.
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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.
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