Working Capital

PWD62
Contributor
Contributor

Is this system dead or dying. I have had 8 of these more or less in a row paid all of them off fully within 90 days so history is good .But noticed the decline issue last few times, kept at it and a day later it goes through. But now it seems after a  week it just constant declines even after inviting me to apply. Paypal have no answers and say its just an algorithm and keep at it. Seems a  bit of weak answer . 

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2 REPLIES 2

realitydes
Contributor
Contributor

I have read in forums many  people saying they have been decline. I can only speak for myself but I claim my fifth loan last Thursday and was accepted right away ( perhaps they offer me a little less than what I was hopping for, but to be fair I am not  running my business base on loans,  the loan is always welcome but if is decline I will not be struggling either, any company should look at  it that way on the first place). This is my personal opinion as to why I think other people have been decline. Many people that were claiming paypal working capital were based mainly on ebay sales and that is a huge nono for working capital right now, so  all those people clearly are getting decline, and even if they have moved to ecommerce there still not enough new  data for them to be accepted ( Please note my business is never been based on ebay, so all my payments still going directly trough paypal) also  I think during covid days the sales have been very irregular for everyone, this shows spikes on ur  insight sales and this can also cause problems if wanting a new loan. I do recommend before making a   loan claim to go to your paypal business settings and make sure everything is fill correctly, ( type of business, contact numbers location based etx, I did read somewhere this can also affect your loan) also I did wait a good full 7 days before  making the new claim after paying off my last loan, this will give plenty time to the system to fully close ur  paid credit . this is only what I think and I do not have an answer for  each and everyone. hope this helps to others

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SRTWY
Contributor
Contributor

No one knows.  It simply seems that very, VERY few people are getting approved, but literally no one knows why.  It's been going on for close to a year now; there's new posts here on a weekly basis about it.  Paypal and WebBank have been completely silent on the issue; customer service reps have no clue because it's all automatic and algorithm-based and their job isn't really about figuring out why people are getting denied (they're just as out of the loop as any of us, so of course their default answer is to just "keep trying").

 

As far as the other commentator's wall of assumptive and anecdotal blather....none of that matters.  We've all been through the typical, simple stuff...this isn't our first rodeo with PWC's notoriously picky algorithms.  No one I know that has been denied (and that's dozens of people over the last few months) ever did sales through eBay, sales for many of us never fluctuated, all of our business information is correct and up to date...the list goes on.  And yet, many people have gone months, even a year without being approved now.

 

No one actually has any answers, unfortunately.

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