DECLINED FOR SECOND WORKING CAPITAL LOAN?
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I pulled out a working capital loan for $3500 (first loan) paid it off about 1 week ago now.. still waiting to see if I can pull another loan.. which it just declines me.. which I paid back pretty quick with 30% interest.. is this an error or ??? Does anyone have solutions to this?
Thank you.
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PayPal Business Loan
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Working Capital
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If you do a cursory search of these forums and others, you'll see that pretty much everyone is getting declined for PWC loans. Even longtime customers with perfect sales and repayment histories on multiple loans.
No one knows what's going on, not even customer service, and neither PWC nor WebBank (who underwrites the loans) have said anything or addressed the issue.
Best you can do is swamp their "Feedback Survey" (on the left hand side of your PWC dashboard) daily and hope the issue eventually gets fixed or they at least publicly address the issue and decide to be transparent about it.
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me too - had 9 successful working capital loans - also noticed a code underneath the refusal - am now on 5th day after paying back the 9th loan & noticed the code has changed to DLGJO261 - have you been given any code number? no one seems to know what these codes mean.
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Yea, we recently got that too. They keep bombarding everyone with new invitations to apply, but are still categorically denying everyone for no reason at all....even longtime customers who fit the application criteria perfectly. And the denials keep coming for months. It makes zero sense.
I'm starting to think something with the algorithm is seriously broken (wouldn't be the first time) and for some absolutely insane reason this time they haven't noticed.
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