cancel
Showing results for 
Search instead for 
Did you mean: 

Working Capital loans temporarily suspended for small businesses

Chaosfairy
Contributor

Working Capital loans temporarily suspended for small businesses

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. 

4 REPLIES 4
YCID
Contributor

Re: Working Capital loans temporarily suspended for small businesses

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. 

Hazzard15
New Community Member

Re: Working Capital loans temporarily suspended for small businesses

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

Chaosfairy
Contributor

Re: Working Capital loans temporarily suspended for small businesses

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.
kldarin
Contributor

Re: Working Capital loans temporarily suspended for small businesses

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.