Working Capital declined was a surprise - is it due to the eBay change of Managed Payments ?
Metroshot
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Posted on
Aug-03-2020
06:56 AM
Does anyone know if eBay forcing merchants into Managed Payment might be the reason for PP to stop giving out Working Capital loans ?
So I get lots of offers for Working Capital with phone calls, emails and letters in the mail for applying for another Working Capital loan.
I really didn't need it during those times but now, I have a need for a lot inventory purchase and did not want to use my PP funds although I can if I have to.
I applied from the WC webpage and got declined.
Very strange since the past 4 WC loans, I have paid them all off early.
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loopycatuk
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Oct-09-2020
09:53 AM
Metroshot
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Oct-13-2020
02:00 PM
So working capital was no help even after calling them. Ended up getting a short term loan thru eBay Lending Capital for 10% loan interest. Problem with lending capital is that they want a copy of your tax returns, 1099k, and profit loss statement.
loopycatuk
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Oct-13-2020
02:23 PM
Thanks for your reply. I’m in the UK so I don’t think eBay do loans yet? Did you ever try again for the working capital one? I’m on week 2, had 6 different opinions from PayPal as to why, but they do say it’s not to do with eBay until I’m enrolled. I’m not sure what the issue is, but I relied on PayPal 😕
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