PayPal Working Capital Loan denied - Paid back 9 loans previously with no problems

[GreenGorillaVid]

Just rapidly paid back my PayPal Working Capital Loan and after payment cleared i applied again and was denied. I did 9 loans previously with no issues. I paid this back quickly so I could get a larger loan to survive this blasted COVID19 and was shocked when it said "Our records show your business currently falls into an industry category that doesn't qualify for PayPal Working Capital.

I regret paying back the loan now. 

Is there anything I can do? 

I tried calling but was on hold for 5 hours before finally hanging up.

I am pissssssssssed!!!!!!!!

[SYDSDAD]

I too have been a great customer to the PP working capital program, over 2.4 million in loans to date, still have a substantial balance and wanted to bulk pay it off to generate a new offer but I fear if I do and get denied (e-commerce is still robust) I will be left without liquidity, think the program may be in trouble if mass defaults occur due to the pandemic, a lot of desperation out there, my Kabbage account was closed even with over 5 years of perfect business with them. Think these type of loans are going to be a thing of the past or at a minimum additional qualifiers added to the algorithms before they are offered again.  

[kilad4n]

I am on same boat as you.. just paid out my loan early applied, wanting to apply for another loan. (Original loan 100k) The YTD sale went up 32% (very solid sale during covid) so was expecting a decent offer.. they offered me $27,000. LoL wowers... maybe PayPal capital is in trouble

[GreenGorillaVid · Accepted solution]

PayPal just refunded back all payments I made in the last 7 days!!!! Yay! I am so happy that they helped me out!