Working Capital Loan

[BayouBling]

I am going to pay off a large sum so that I can get a 2nd loan. Now my questions is this if for some reason I don't get approved for another loan have you heard of Paypay refunded that lump sum and reinstating your loan? I am very nervous.

[canwehaveitnow]

I'm not sure they would refund it - I had 3 working capital loans and at the end paid a lump off to get it finished. First 2 times no issue, this 3rd loan I have been turned down and it has been a good 6 months since and still being turned down. My advise is only pay the lump sum off if you can truly live without it and it wouldn't be more use being kept - good luck

[Tipton444]

I'm in a similar situation, except I paid the loan off on the 6th, a total of $750, and it's been over 5 days and I haven't been able to apply again.  I'm reading all these stories about people who pay their loans off in a lump sum then they get declined for their next loan as if it's a bad thing to pay it off early.  I don't know if that is still going on, as many of the stories I was reading were from 2017.  I also didn't know that if you pay off your loan with the bank account attached to your paypal account that it can take up to 10 days for it to go through and then you can try and reapply!  Even though it cleared the "Pending" section in my bank account, and everything says completed...  I'm still waiting, wondering if I will have problems applying again, and i'm nervous like you.  If I get denied I will absolutely be calling them to refund my last payoff payment, as I've heard of others doing that.  

[LINDSEYANN06]

I'm dealing with the same thing. I paid off mine on the 5th and waiting penitently for an email saying mine is paid off and I can reapply!! I mean they took it out of my bank account not sure why its not "cleared" yet.

[Retrogeeks2]

Any luck on yours yet?

[canwehaveitnow]

Nope still being told I don't qualify despite selling more than ever through PayPal. Keep on trying I guess

[LINDSEYANN06]

Nope. Day 11. It says paid. But its still adding days like I havent finished paying. Payment has cleared my bank. But no email saying I'm paid or I can apply again. Absolutely ridiculous.

[Retrogeeks2]

They told me on the phone with the new ach feature it's possible it can take 10 business days to clear, so for you it's 11 days but only 8 business days because of the weekend it's rediculous, if they would have told us this would happen I wouldn't have paid lump sum by bank

[LINDSEYANN06]

Yea. I figured it was business days. But in the email they send you when you schedule an ACH it says "about" 10 days in the fine print at the bottom. 🤦🏻‍♀️🤦🏻‍♀️ Doesnt say business days and it says about. Lol about could mean anything with paypal. And yes I should have been smarter than paypal and not used the ACH feature. Cause I knew this would happen.

[Retrogeeks2]

Ahh good catch didn't even notice it lol it would have been nice to have been told that BEFORE submitting the payment, yeah it just says days there which could be the case because I've had a reset and approval on a Sunday before, it does say about, yours should clear in the next day or two just check emails at 3am I'm just praying for no "random decline for no reason" bs once cleared