Working Capital loans temporarily suspended for small businesses

Chaosfairy
Contributor
Contributor

I am trying to find a way to request that PayPal temporarily suspend the repayment portion of working capital loans as well as extend the deadlines for due dates given the current world situation. I am a small business owner who will have zero income for the next two months as my business has been required to be interrupted during the shut downs. Any small sales I DO get I will need every penny of to survive the next two months. I do not wish to default on my loan but I KNOW I will NOT be able to make the minimum payments much less pay it off early right now. I do not wish to be penalized for issues outside of my or anyone's control. PLEASE ADDRESS THIS ISSUE. Thank you. 

Login to Me Too
4 REPLIES 4

YCID
Contributor
Contributor

I too am curious about this. I have had 3 past PP loans and they have worked out great but I got a larger one (for me) in January to pre pay for inventory and all sales stopped as of March 9th. I have had ZERO website sales (my revenue stream)  or paycheck and do not expect any, anytime soon. I am in want business not a need so I don't think I will see sales again for months.  Please someone at PayPal answer this question for us. 

Login to Me Too

Hazzard15
New Community Member

I’m wondering if they went ahead and suspended payments? I haven’t had anything besides normal fees come out of transactions today 

Login to Me Too

Chaosfairy
Contributor
Contributor
Yes they did suspend repayment temporarily as of the email we should have all recieved this past Thursday. I am very grateful to them for hearing me.
Login to Me Too

kldarin
Contributor
Contributor

I cannot find the email however, my Ebay sales have picked up a little bit in the last 48 hours.  Had zero last week, first time in 10 years.

Login to Me Too

Haven't Found your Answer?

It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.