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paypal working capital not working code 711

Member

paypal working capital not working code 711

very upset about how this working capital is working , this is my 5th loan which we have paid in full and never missed a payment

my yearly sales are well over 200,000 thousand and all my business is going through pay pal

which I go in to apply again as it states apply again I get a decline , are you kidding me I just paid you back a 47000 dollar loan

and I get a decline and you tell me it is yor system not yet picking up the loan is paid

I get a 711 code

now I have been with you since 2003 and never  any issues with my account always in great standing and I cannot get any help at all on this

what is the problem ?

and why am I being declined with this code that says my account is linked with an account that did not fill the expections what other account , I have

called in and I only have this account .

now the worst thing is I am purchasing a store front and if I cannot access another working capital loan I will change my payments to go to my bank and get a loan via them as again great standing with credit score of 800 so I know I will not have any problems

 

10 REPLIES
New Community Member

Re: paypal working capital not working code 711

Same here.....My sales have exceeded 350K already this year and I borrowed 60K, repaid the entire loan in 4 months reapplied and was approved for 17,500.  I don't understand.  When you call paypal, the reps act like robots and recite the same lines everytime you ask a question.  It would be nice if they understood what is was like on the other side of the fence.  No offense but none of the PayPal Working Capital reps are business owners that run extremely profitable businesses so they just don't understand how frustrating this can be.  

 

Contributor

Re: paypal working capital not working code 711

I had the same issue yesterday, same error code and same problem , did you resolve it .....

New Community Member

Re: paypal working capital not working code 711

Did you ever get approved?
Contributor

Re: paypal working capital not working code 711

yes ,

I think the system take a while to refresh ,I waited a week before reapplying .
Also make sure you don't have any open case with customers .

New Community Member

Re: paypal working capital not working code 711

Okay! I paid the loan off last night and it said I could reapply this morning, but customer rep said it hasn’t cleared all the way thru. I checked I have no open cases anywhere! Thanks for the feedback. They said to try again Sunday.
Contributor

Re: paypal working capital not working code 711

I would wait at least 3-4 working days but I don't think the fact that you try regularly makes any difference >
When this happened to me I tried every days and  it only worked after 4 days If I remember correctly
You realise you can't depend on it , I hope it works for you 
Good luck 

New Community Member

Re: paypal working capital not working code 711

Thanks! Right? I’ve been using it since 2014 and this is the first hiccup. Will know for future reference. 😩
Member

Re: paypal working capital not working code 711

See this is old but I just had the same problem tried about 2 hours after the email saying completed so guess I tried way to early with the older system it was never the case as you didn't have the option to pull a new one until it was 100% cleared maybe PayPal needs to work to fix that , guess I will be trying again Monday

Member

Re: paypal working capital not working code 711

did you ever get approved?