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Same here...11 loans at $597K, applied 3/24, expecting an answer by 3/31. Have called twice to ask about this and got a different answer both times, guess all we can do is wait.
First call (right after I applied): "This is new, no need to worry, you will get a response in 48 hours" Second call (2 days later): "No need to worry, we just want to make sure you get the best offer possible. You will get a response in 7 days". My business is not impacted at all by Covid-19, in fact sales are up (I'm in a niche market of collectables that are also frequently bought as investments) so I'm figuring this should be OK. but it was definitely surprising not to see an offer right away.
The application went through and they offered a whopping $3000...
What a joke. It's obvious they don't even want to look at an individual business and their sales, as they will see my sales are stable, I only run auctions and everything will continue as normal.
After 11 loans Paypal and annual revenue of nearly a million dollars exclusively through Paypal they just lost a very good customer, I will be moving to eBay managed payments as a result of this and ditch Paypal altogether.
So it took about 4 days for you to get a reply? Just trying to assess a general wait time. This is our first time applying being newly eligible this month and of course everything changes. Just signed the lease on our building last month and was in need of the funds for equipment and inventory. We're still hopeful for approval though.