cancel
Showing results for 
Search instead for 
Did you mean: 

Working Capital eligible industries has changed?

awalsh09
New Community Member

Working Capital eligible industries has changed?

Hey folks.

I teach and consult online and I've received 2 working capital loans in the past and paid them both off quickly and successfully.

I just applied for a new one and was told that my industries are not eligible. This happened in each of the categories my business falls into - art, consulting, education, online services, and design.

 

this happening to anyone else? I called customer service and they could give me nothing. Told me the system updates the industries they work with regularly and I should keep checking back. Not something I can exactly base a financial plan on...

 

So irritated. You'd think being a great customer with an active Paypal account, good income, and a great track records with loans would count for something. I don't understand this.

 

Any insights?

2 REPLIES 2
Tulucitor
Contributor

Re: Working Capital eligible industries has changed?

Welcome to the club . We are getting denied For 4 months now (essential offline business) . There are 0 benefits now to be a paypal costumer , 0 . We did 100k in sales in 8 months , and we are still getting denied for no reason . Paypal is a joke now , and i was thinking this morning , what are my benefits of paying thousand in fees every month ? 0 benefits . Square is offering wc , stripe as well . We are just stupid and keep giving chances to scammers from Paypal . We are the stupid ones . I am beyond frustrated , and my business suffered a lot for not getting a WC . 4 damn months of applying almost daily , with the same denial code over and over again . No one gives a **bleep**, costumer support is clueless and blames it on the algorithm . I will wait exactly one more month , if this doesn’t get fixed , im out !

mickroid
Contributor

Re: Working Capital eligible industries has changed?

Its not paypal working capital its Ebay. I believe since Ebay split with working capital all people are being denied because they are not part of ebay anymore? I wish I knew of some other e commerce company similar to paypal, ebay managed payments is bogus, no more loans less go thru Lending tree then you have to have good credit just like a regular bank loan.