PAYPAL WORKING CAPITAL DENIAL FOR SECOND LOAN

[waterworking]

I was invited to use Paypal's new Working Capital Program. I at first was a little unsure but thought I give it a shot and borrowed the minimum which was $1000 just to see if it was what they said it was. I got the loan 5/18/2014. I paid the loan off everyday as stated and then on 5/31/14 I paid the loan off completely. I tried for a second loan and was denied. Has anyone else had this issue and have you gotten a reason why you were good enought to loan the first time but instantly turned down the second. Makes no sense. Please help

[bumperstore]

I to was just denied this weekend.  I am thinking it has to do with all the wonderful changes ebay just made to the seller performance, which is a shame.  With those dsr changes and including cases I went from a TRS to just being right above below normal.  I sell automotive parts and touch up paints.  I have cases opened all the time, mostly by customers that don't read the listing clearly.  They then open a case, we handle it and it is closed.  Again this is a shame if it is now being included, because I am the same company that has paid back every working capital early and with no catch up payments being made.  Hopefully when Monday comes things will be cleared up... and to those working on ebay I am on hold with the resolution center with a 77 minute hold time... do you think people are freaking out over the changes????

[mlieber214]

I have been approved for 5 working capital loans and have paid them all off very quickly.  I just applied for my 6th loan and was denied.  I have no idea why?  I was depending on this income to buy more inventory.  I really wish they would get this program together.

[My-House]

the whole thing is strange

I mean, this is about 2nd an 3rd loans.
why would an entity in te busines of loaning money, deny someonewho had demonstrated the ability to pay???
I was aprroved ofr 9.5K
Pay it all of without issues and now i am denied for like five tries now
the worst isnt the denial, but that there is no reasonable explanation as to what led to the denial

As much as i appreiated EJ coming out to address a few things, the core issue is still left untouch......................whart in the process is cause people who have borrowed and repaid to be denied without explanation???

[oscodapete]

I just received three of the denial letters. They all said my second loan was denied because my "PayPal account was recently linked to another PayPal account". Not by me. PayPal never sent me any messages saying my account was linked to another.

[mn1111]

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@oscodapete wrote:

I just received three of the denial letters. They all said my second loan was denied because my "PayPal account was recently linked to another PayPal account". Not by me. PayPal never sent me any messages saying my account was linked to another.

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This makes sense now, as I spoke to someone on the phone that seemed to understand the process.  He said that they have been testing risk factors and one of the recent ones they have been looking at are individuals that have multiple paypal accounts.  My guess is that they are afraid that incomming payments will be diverted to one of them in order to extend the loan repayment time.  We definitely have more than one account as we keep one for business and then tranfer to the others for personal use.  However, we never once accepted a payment into anyone of those accounts.  He did say that they loosen and tighten the approval criteria depending on where they are with the testing process and that it should loosen up again sometime early to mid Sept and stay that way right through the holidays.  Hopefully they will remove the "multiple" account factor as one of the criteria before then.

I would think allowing them to pull payments from linked accounts would solve the issue as most people who have second accounts in plain view aren't really looking to circumvent the repayment schedule. A few idiots probably tried to play games with them and as a result ruined it for the rest of us. 

We ended up getting a loan from Kabbage which is easier to get approved for, however it is more expensive, but you have 6 months to pay it back.

[oscodapete]

I called PPWC and was told by "Greg" some garbage about my PP account being linked with another PP account. According to him, I was considered a "guest" for using my PP card to purchase a light for my wife's lamp. Say what? I told him I have had a PP card for more than 10 years and am not a "guest". Was told to keep applying as the criteria would keep changing. Sure wish they would get their **** straight.

[tblproducts]

Finally got my letter-

Like the others, it states the reason for the secnd denial was " This Paypal account was recently linked to another patpal account".

The only thing I can think of is that I had recently asked for a new paypal debit card., but the new card has the same account number, so who knows. I certainly don't, but based on the other comments, I not gonna bother with calling the 877 number..

[oscodapete]

What exactly does it mean when they say "This PayPal account was recently linked to another PayPal account"?  I'm beginning to think it's one of their runaround answers.

[My-House]

Got some of these ridiculous letters today

they all said " your account is not in good standing"

when i called i they told me i had a paypal dispute opened against me 2 mnoths ago and as a result this may be the reason..............

I have to laugh,,,

over 100K in sales already this year and a single dispute and now they claim in not in good standing?

this whole program is a complete joke

[eyezayuh]

I have tried to apply for a PayPal credit account and I got denied. When I check why I got denied, it says...

Your information was incomplete or inaccurate or the circumstances may have suggested that the purchase was not made by you.

I don't understand why it is saying this when I haven't even tried making a purchase. Its not making any sense to me. Lol. Has anyone else had this same problem??