Paypal Working Capital Refused

[suziecinnamon]

I have had 8 working capital loans over the years and found them very useful - usually for updating my website. I paid of my most recent loan a week ago but sadly Paypal doesn't appear to want to let me have another one as my application is declined.

Could there be any specific reasons for this that I can address?

[thepolkadotpig]

same!  so frustrating.  I've had 7 for a total of around $100,000. i like the flexibility of the payments coming off my intake each day.  They forced us to swap to zettle but no longer consider zettle swipes for the loans.  I don't understand that because they can debit what we take in zettle but not include it as income....make it make sense!

[Carmiapple]

I agree this is so frustrating!! I call pp working capital every day and ask for updates and I get the same response they are "working on it" well its been well over a year and still no resolution. Some sort of answers or timeline would be very helpful in the matter! But nope nothing! grrrrr!!😠

[PayPal_Bindu]

Hello @suziecinnamon and @thepolkadotpig 

Welcome to the PayPal Community Help and thanks for posting here!

I understand your concern about your loan application getting declined. To be eligible to apply for PayPal Working Capital, you must:

Have a PayPal Premier or Business account for 90 days or more

Process at least $20,000 in annual PayPal sales if you have a Premier account or at least $15,000 in annual PayPal sales if you have a Business PayPal account.

Pay off any existing PayPal Working Capital loan

Your application may also be declined for other reasons related to your PayPal account or identity verification as it normally would when applying for PayPal Working Capital.

@thepolkadotpig  While your repayment percentage will be applied to the sales you process through PayPal Zettle and used to repay your PayPal Working Capital loan, these sales will not be considered when determining PayPal Working Capital loan eligibility at this time.

More information about PayPal Working Capital can be found here.

Best wishes,

Bindu

[Carmiapple]

When will the paypal zettle transactions show up on the paypal side so that we can get another working capital loan? 

[hugh1971]

paypal working capital has died for all us business's that did really trust the change to Zettle was the right thing to do and nothing would hinder the absolute support that we have got and appreciated from paypal which has no just stopped as regards this issue being resolved !!

dont get me wrong paypal has been the back bone of my small business and 110% at resolving any issues but this treatment of fibs and please retry later and give it five days is a joke. 

[Temp20230911x]

Are you moderators even reading these complaints? Your responses are irrelevant. 

[strongus]

It's totally random and frankly makes no sense. I have had 5 or 6 loans over the years since they were introduced and from best I can tell, for businesses that have busy seasons followed by slower times in the year, get the biggest loan you can get right at the end of your busiest time of year and then stretch out paying it back until the busy season comes again. Just from observation, when you have a high volume of sales, they will always grant you the loan, but when things have been slow for a month or so, they deny you. It has nothing to do with your history of successfully paying back previous loans. 

[davoaxoim]

They have known about this issue for going on 18 months. Now it states in the PPWC FAQ that even PayPal Here transactions will no longer count. So, to get a PPWC loan now you have to have $20,000 in direct online sales through the vertical terminal because I don't think there is any other method working. I have well over $20000 in appointment deposits online but since it is processed through a third party it doesn't count. Plus there is something in the algorithm that will deny you if a majority of the transactions are not through PP directly. 

[pubbets]

I'm fairly new to Paypal working capital but paid off the first 2 loans quite fast. (AUD$2,500 each time)

The most recent one was paid last Friday and I got an email today saying that it was all done and that I could apply again. This is great news because I'd love to manufacture some new products for the Q4 rush this year.

Unfortunately when i went to apply it was rejected. Tried two times but got the same result. This is super disappointing because I was kind of counting on another loan (which is foolish, I know).

Sales have been ok - not terrible or amazing. I did mess up 3 payments due to my bank demanding an 2FA code to do some transfers. I'm guessing these failed payments may be the reason?