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Has anyone been approved for PayPal Working Capital???
After many years and millions of dollars in processed transactions, we've successfully had and repaid 10 working capital loans. Now, when we need it the most, we are being declined. I have borrowed and repaid over a million dollars, run several million in transactions annually and have never, ever had any type of account issue.
When I called the Working Capital line, I was told there is no problem with my account, but the decline says that my industry is not eligible. Not sure when this happened, I am certainly eligible to pay over 100K in transaction fees with PayPal each year.
So, I call back a few days later and was advised to try using different categories for my 'industry' on my application. This seems like terrible, dishonest advice, but I do it, all to the same result. Denied.
Has anyone been approved and if so, what category do you fall into?