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PayPal working capital DENIED !!

Contributor

Re: PayPal working capital DENIED !!

Me too! I have had 3 all of which were paid off early. Go apply for my 4th loan and got denied! Highly upset. 1st loan 3500.00 Paid off early. 2nd loan 7500.00 Paid off early. 3rd loan 2500.00 Paid off early. My 3rd loan was lower than my 1st and 3rd loan which did not make any sense. All loans paid off. Like you I did not have a error code. I did at one point had a net negative in my balance. I rectified that. This only happened one time because of circumstances Beyond My Control at the time. Regardless, I've always had money in my account and sales which have always been good. So that is the only thing that I can think of would be the negative that I did have at one point. But like I said I rectified it. I am just going to keep reapplying. But what gets me is that my third loan was lower than my first and second one which made no sense to me at all. If anything it should have been higher than my second one. I have never had a problem paying back my loan at all in fact I've always paid it back early. I really think PayPal should look more at the loans being paid on time and early than anything else. But that's just my personal opinion.
Member

Re: PayPal working capital DENIED !!

It is completely ridiculous. Sure, it’s their money, but we pay a fee to use their service and for borrowing their money. The fact that a computer makes the decision is what’s scary, so really no rhyme or reason to it. I paid off both my loans early , had no chargebacks, but may have had a negative balance, but why should this matter? It’s not a bank account, it’s a service.. when I relayed my last loan EARLY, my record was clear and sales were good, paying them back early was a BUG mistake, and is bad of the company to encourage it. These machine algorithms are a JOKE, as why should you be penalised for a dispute that may have been a postal problem, or something else out of your hands, because of this crap, I will be happy to move to the next company that provides a gateway and a FAIR loan service.. I think it must be a big shock for everyone who repays their loan early, way earlier than projected, to then be rejected. That’s **bleep**. Not Fair, and PayPal should be ashamed of themselves for such a shonky inconsistent service.

Member

Re: PayPal working capital DENIED !!

Both loans EARLY, months earlier than projected. Yes, it’s their money, but they take it out of your sales and you feel it. Basically, it is just NOT A FAIR SYSTEM. Rewards for early payment is fair. Judging on conditions, not on a bleep from one disgruntled customer or for making a huge purchase and draining your account. It literally SUCKS. 

Contributor

Re: PayPal working capital DENIED !!

I completely agree. I’m thinking of going back to square full time. I heard good things about PayPal, but now I’m completely frustrated. The algorithms should care about one thing and one thing only. Do we pay the money back? The answer is yes with me. I’ve had two loans and paid them back way ahead of time. I just got turned down for my 3rd loan. They said it was because I had fluctuation in sales, but the fluctuation was in the upswing. I was processing more through PayPal. You’d think if PayPal actually took the time to read these reviews and we’re all clients, they’d see that they have frustrated, loyal people trying to do the right thing
Contributor

Re: PayPal working capital DENIED !!

Mine was just denied due to funds on hold. Was yours ever approved again ? I need this loan!
Contributor

Re: PayPal working capital DENIED !!

No I was told my business isn’t eligible for it. I didn’t make enough money this time
Member

Re: PayPal working capital DENIED !!

My 3rd one was denied due to a "funds on hold" reason, but it was only this one time funds were on hold and PayPal put it on hold due to the amount being "very high" they said. So I myself had no control over PayPal system for making that decision due to their customer support saying "it's for my protection" but in the end it hurts me more than protecting me (cant access those funds due to a hold and get rejected on another loan I paid off early due to them holding funds). Something has changed in their system and I feel like its hurting their customers more than helping.