I just paid off my 1st PP Working Capital Loan and the next day applied for another loan and my application was denied. I am not sure what happened. My transaction volume is the same, I don't have any disputes, chargebacks etc.. I made the final payment using my PP balance and not a bank account. Should I just wait a few days for the PP loan algorithm to update? December is kind of a slow month, so maybe my transaction volue is off just a touch, but not by much. I look forward to member insights. Thanks
Congratulations for your first post on our community forum!
Sorry to hear that your Working Capital Loan was denied. When your loan is closed, you will receive an email confirmation and then, if eligible, you can apply again. This can take up to 72 hours after your final payment is processed or up to 5 business days if you recently made a manual bank payment. You can learn more about how PayPal working capital works here.