Has anyone been able to get a working capital loan this month?

[robynnstorey]

Has anyone been able to get a working capital loan this month?  I've had 10 loans, run millions of dollars in transactions through our merchant account and have never had a single issue.  Now, I am being denied because 'my business is not supported.'  They've taken hundreds of thousands in fees but all of a sudden my business isn't good enough for them.  When I called, I cannot get a straight answer.  Has anyone had any success in getting a loan and if so, what category did you use as your business? 

[grrranotherid]

Yes I just got one yesterday. Not the highest amount I could have been offered but much more than the offer they gave me in March. Hope it works out for you. Paypal Working Capital has helped me grow my business greatly and with little stress. Am an ebay seller but also have a 15 year old website that I use paypal to process all sales. 

[robynnstorey]

That is great to hear!  How many attempts did you make and how long after your last loan settled were you able to get one? 

[grrranotherid]

Waited a week to reapply and used the link that was on my working capital page that led me to the application. It worked the first time and was immediate offer. I have always waited 5 or more days after I get my "Good News" email. The one I did in March was a 7 day wait / pending before approval. Hopefully this news helps knowing they are approving some loans. 

[gringo333]

That's encouraging to hear. Appreciate the posting. I'm having trouble finding an apply button like it used to be always apply again real quickly. How did you do that? Thanks

[DLGJ0656]

Go to the faqs on the PayPal working capital page and then click where it says how do I apply again. There you will find the link.

[ccga2020]

I paid off my last WC loan last week in hopes of another becoming available. During a 10 week shut down period with my Brick and Mortar shop I went online using shopify with paypal as a way to checkout. I had record months March, April and May, but my actual PP payments were down because people would checkout using the Shopify Pay. So When I reapplied yesterday I was denied. I called and was told I just needed more transactions and to keep applying even daily if need be. She said the more sales I run through it will even out the numbers again. You sound like you do a very high volume compared to me but if the months of the "covid crisis" dipped that could be the issue. What she said made sense and I only waited on the phone to speak for like 2 minutes. I would def keep applying though!