Denied and Re-Applying Success...

DeeboFit
Contributor
Contributor

Hi everyone, I’ve been approved for the Working Capital Loan 9 times and have been approved for random amounts ranging from 3k to 8.5k. Recently paid off my latest loan and was denied after re-applying. I usually wait for the friendly email from PayPal that prompts you to re-apply, but I decided to give it a try before being prompted this time. I have never been denied, I’m seeing many people say they wait a few days then re-apply. Is that the solution to the random denies? I want to hear from someone whose had success giving it a few days before re-applying. For me it seems the loan is not reliable enough to count on but very effective for making small purchases or equipment or covering repair costs. I love it. Are Denials random? Are approvals and amounts even more random?

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@DeeboFit 

 

Yes, maybe it was best that you wait for the friendly email to apply since you were successful when doing so and plus PayPal needs time to update your numbers from the last loan usually around the 15th of month. 

 

The whole process is totally automated I've read so its based on your numbers I reckon. 


Kudos & Solved are greatly appreciated. 🙂

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@DeeboFit 

 

Yes, maybe it was best that you wait for the friendly email to apply since you were successful when doing so and plus PayPal needs time to update your numbers from the last loan usually around the 15th of month. 

 

The whole process is totally automated I've read so its based on your numbers I reckon. 


Kudos & Solved are greatly appreciated. 🙂
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DeeboFit
Contributor
Contributor
Thank you! I’ll be more patient.
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kristen516
Contributor
Contributor

Did it end up getting approved for you? I am having the same issue right now after being approved 4 times....

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DeeboFit
Contributor
Contributor

@kristen516 Update: No I have not had any success. Of course, my expectation is a lot less now with the entire pandemic going on but I also put a lot less trust in paypal's system, its too automated and inconsistent with approvals. I've taken the loan out 9 times total and re-applied within days successfully. I now re-apply every two-four weeks for the heck of it but I never expect anything. Each time I am denied, I receive a letter in the mail with a different reason for why i was denied lol "inconsistent sales"(which happens in my industry, inconsistency is regular), "Abnormal sales) or some bull message. The best part about this entire experience is the fact that capital is so important right now and its not available, then the irony of the constant emails you receive from Paypal saying, " we are here to help" or "here for you" each time you go on to check your balance. I hope you have better luck. I did do some self-analysis of my account to try to solve the problem on my own and the only changes now versus all the other times I applied is the pandemic slowing sales and I had a couple of my bigger clients that wanted to pay cash I allowed them to pay cash. this was two very large cash payments and I gave cash to a friend then the paypal to paypal sent me the funds. Perhaps that was too suspicious for paypal lol idk. But hope this helped, let me know if you have success. BEst of Luck with your business. If I get approved I will come back and let you know.

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