PAYPAL WORKING CAPITAL DENIED OVER AND OVER

[JMRCOSTUMEDES]

i run a small theatrical costume business. I own the original Broadway costumes from A CHORUS LINE. I rent a complete package to professional and community theatres, colleges and universities, etc. The costume package rents anywhere between 2500- 7500 depending on length of run. A rental agreement is processed and I require 50% upon signing agreement, 50% prior to shipping. I also will break the rental down into 3-4 payments, as many theatres at times are financially strapped. All transactions are done thru PayPal . I've successfully paid off 2 PayPal working capital loans, yet keep being denied for a 3rd. Reasons: insufficient sales activity, sales fluctuations, etc. The best one I just received was insufficient proportion of historical sales to unique buyers. when I called customer service, i was told I have too many returning customers. I've received error code 656, 623 and various others. in the last 12 months, I processed $19000 thru PayPal. I've even been told my amount of individual sale is too high. I'm so confused! !! answers?

[afhaynes]

Have you been approved yet? I just paid off my 2nd working capital loan, but when I tried to apply for a 3rd, it was denied. My error code was also 656, but I have no idea what it means.

[ReedFam2000]

I paid off my second loan which was more early and thought I could apply 3 days later for a third loan but now for the past 5 days I keep getting code 656. I was told keep reapplying and I have been and no luck so discouraging when you have stellar sales and paid off the loans quickly etc and get denied repeatedly any advice anyone get approved? Is anyone getting approved these days?

[eccp]

I have been told the same I keep reapplying but no luck I’m not going to try anymore I have over 35000 a year in sales that come in through Paypal I book couriers and use them for everything I have 100 percent feedback and always paid refunds back quickly what’s annoying is they won’t tell us why we can’t get another loan it’s a big let down i will also be looking at other payment sources in the future they are a total let down to my business

[elemental · Accepted solution]

I have had 2 loans. 

The second loan was denied at first. I don't recall the codes, but I did talk to customer service, and they told me that PayPal updates your account for these loans the next month by around the 15th of the month. 

This is what happened to me. 

I applied for the loan again in December, after paying off the prior loan in October. I was getting invitations from PayPal working capital to re-apply. The loan was denied. Called PayPal working capital, and the rep explained that I could reapply in January after my account was updated. He said it should be updated by the 15th of January. So I waited, and reapplied on the 5th of January. PayPal had updated the numbers on my account at that point and I was able to get the loan. 

So basically, it looks to me that waiting until the next month to reapply can be the thing people need to do.