WORKING CAPITAL REJECTIONS

[NikV]

Why on earth is my working capital application being rejected ?!? I have paid back 10 loans early totalling 500k yet now I'm not able to get one? I have spoken to the team and they see no reason for the rejection? Anyone have any inside tips? This is so frustrating cas we rely on that lump sum for inventory. Please let me know what I am doing wrong.

[dxhs2000]

same thing happens to me after 25 loans and over 2.5m borrowed. i always pay back early, even during covid when they stopped taking auto payments, i paid them back manually and on time. at this point it is most likely not going to come back and instead of announcing it and having us jump ship to other merchants, they are dangling the carrot in our faces so there is not a mass exodus. i would suggest cutting ties with paypal, i do not see it coming back at all. when you call they all give you the same scripted response

[Temp20230911x]

You’re being rejected because PayPal forced us all to go to Zettle but now they’re not counting Zettle sales for the purpose of qualifying for Working Capital. They claim they’ve been working on it, but it’s been months and months and I don’t believe a word from them at this point. The Moderators won’t respond to questions on this topic anymore.

[Spacextesla]

I keep getting denied for 3 weeks now. DLGJ0905 code. I don’t have zettle and was never transferred into it as I only sell online and have only used PayPal. All my sales have been through PayPal and have received 10 loans totaling 180k. Longest I waited before was 10 days to get another loan. Now 3 weeks.

[BettinaK]

I've been waiting for 2 months now and the same thing. I pay off my loans in approximately 3 months and I've paid off $32,000 in loans over 15 months and I've been applying everyday for 2 months now since I paid off my last loan and I get the same exact code. I'm a caterer and I did have a spike in revenue in June and July because of wedding season but it has now simmered down and I'm back to normal revenues again and yet I keep getting this denial code and it's starting to cause a really bad hardship. I used to be able to get a new loan within about a week and I really depend on that lump sum to keep my business running. The representatives on the phone just say to keep applying until I hit that sweet spot whatever it is but I'm very frustrated as well

[BettinaK]

I do not use zettle and still it's happening to me

[davoaxoim]

There was an issue with PPWC not counting zettle transactions. Then they told us that it was fixed but now suddenly I'm being denied because of my industry category. Though it was the same one that has been on the account through all the past loans and since I opened the account years ago.