Thank you all first and foremost for reading my message.
I have had 2 working capital loans paid off. This last one I paid off on Friday of last week. I paid it off early and was anticipating I would be able to get another one in 3 days to buy my summer inventory. I have called Paypal 2x and they stated to keep reapplying. They said it was due to fluctuating sales being up and then slower and then up again. I always thought they focused on 30% of the annual sales so I do not understand why this is holding me up supposedly. I think it is really unfair for us businesses who pay these loans off quickly and with no trouble to be punished when we reapply and denied. This is really going to hurt my store. I would appreciate any help or feedback anyone could share. Thank you.
Did you manage to resolve the problem as having the same issue? Customer service told me there should be no reason for being denied but they aren't able to do anything about it. Strange after offering a really helpful service for small business owners within a few months it is no longer available to them!
I have been denied aswell I have just paid my 3rd one off been denied every time over the last 3 weeks I’m going to give up my sales through Paypal are over 30000 a year I use them for everything I’m going to look for other funding options
September 1 I paid off my loan early. It was paid in full. I have had 3 loans and paid them all on time and off early. I have tried all month to get another loan and talked to customer service and no luck. I am so frustrated with this program. So much for being rewarded for being a trusty paypal working capital borrower. Still this morning, denied. Says Code: due to fluctuation of sales
Were you ever able to get one? I am on my first and want a 2nd one...my sales were the highest ever in Sept. then dropped a bit in OCt but back up in Nov.
We applied and were accepted end of July, Paid back mid October, tired for a second loan and have been denied every since!
Every time I call to ask why, I'm told the account is fantastic and there is no clear reason that they can see, no charge backs disputes etc that they can see.. they agree we fit the criteria so have no idesa why it is not working.. only advise offered was to just keep re-applying!
Hi - I know this was some time ago, but right now, we are having the same issue as you did - sales are just as consistent as they have always been. Had 10 previous working capital loans that were all paid off but this time, our new application is being declined, saying we are not eligible. Nothing has changed. The paypal rep on the phone says all looks okay and to keep trying. So I would like to know if you eventually did get reapproved for another cash advance and if so, how long did it take? Thank you.
