PPP rejection because of a credit report

[busterm8]

I just received a rejection letter from PayPal because of a credit report.The loan is a forgiveable grant !, has anyone else recceived one of the letters?this is so wrong . 

[billinggc]

I received the denial based on insufficient information and 1 day later received a letter I was approved by SBA, two days later (yesterday) I was funded. It makes no sense.

[Waveland]

Same here. Supplied all information. Received rejection because of “Insufficient information” and credit report. Credit score is 823 and never requested any other information as their steps said might be the next step. Something is very fishy with PayPal and there is no way to get an explanation. I have emailed them twice (says will be answered within 24 hrs). Obviously more bull from them. Have used PayPal so much. May never use again. Fed up with them. And yes, woman owned. Does anyone know if you can reapply to someplace else. Banks aren’t taking anymore applications.

[Lbell13]

Our union has suggested applying with Lendio. They’re more of a middle man and will assist you at no charge in helping to find a lender. They are amazing!! Blue Vine is who I’ve applied with. I also applied through Fundera. There’s a lot more opening up now. Both of these have great resources to assist. PayPal can suck it. I’ll never use them again! They’re the reason I have any credit problems because they’ve allowed my account to be compromised and in turn I’m suffering from identity theft!!

[Waveland]

Thanks Lbell13. Will try these tomorrow. Really upset with PayPal. Good credit score and never even asked for more information. It’s like they just pick a random # to reject and never look at the applications.

[billinggc]

I was sent PPP loan documents and signed the documents  - then received a letter I was denied based on my credit report.  PPP loans are not credit sensitive and the credit report is used to verify identity.  Paypal is useless and I went with kabbage.com instead

[Lbell13]

I’m a small business woman owned LLC and had the same problem. I’m also a member of the freelancer union and you better believe I’m raising hell!

[Waveland]

Absolutely pitiful. Heard of others who had good response with Kabbage. Do raise hell!

[cthog]

Same nonsense "unable to verify identity", but then spits out all of my credit report details.  Also have an 832 credit score.  I took the advice of an earlier poster and went to Lendio.com.  Their application seemed a little more complete anyway.

[Lbell13]

Lendio is a small nonprofit out of San Fran and truly incredible customer service. I hope it works out for you!

[Lbell13]

I’ve passed on all the details reported here along with others and my own experience to the union and SBA. I’ve made it my mission to have them held responsible in any manner of this behavior. They are allowed to do a credit check but not hold it against you for the PPP and certainly not at the scores said here. Insane! I hope this shuts them down once and for all!