PayPal working capital not eligible

Tammym1972
Contributor
Contributor
I've been trying to open another PayPal working capital loan and I keep getting a message that I'm not eligible. My last loan was just payed off a couple days ago. I waited the 5 business days like it says to and I'm still not eligible. Is this happening to anyone else?
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12 REPLIES 12

darthshader
Contributor
Contributor

Honestly, I think the PPP loans given out directly affected this program. My opinion, but it certainly is suspect. Paypal makes a considerable amount to process payments and transfer funds, I hope they consider bringing it back to further assist small business with non traditional loans.

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dglennjr
Contributor
Contributor

I had the same issue until a customer filed a claim against me and PayPal took the money out ($697) of my PayPal account which made it go negative. I applied for another working capital loan and wallah! It was approved. My guess is because it covered the overdrawn balance... Who knows... I just paid that one off and was denied again. Fun times. 

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WildCardBPO
Contributor
Contributor

I'm Having the same problem and have contacted support. It's just a luck of the draw... I think their approval algorithm needs adjusting my last loan was for 9k and paid off in 32 days... the one before that 8k paid of in 40 days. I have had 7 loans now and the only thing I know is that working capitol can not be relied on as a service but it does work great IF you get one... just keep trying everyday... unfortunately paypal doesn't seem to want to make money with this as a true service... or maybe too many people are defaulting on this type of loan. 

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