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since ‎Mar-01-2021
Country: United States
Type: Business
davoaxoim
davoaxoim Contributor
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Latest Contributions by davoaxoim
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  • Latest Contributions by davoaxoim
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Re: Working capital

by davoaxoim Contributor in Products & Services
‎Aug-28-2023 06:04 PM
‎Aug-28-2023 06:04 PM
The only expert comments I've seen in the last year or so were suggesting that you switch to the virtual terminal and manually enter each transaction or go back to PayPal here then wait 6 months and reapply. Both are really bad solutions. PayPal here is dead and PPVT is 3.09% + $0.49 for every single transaction.  ... View more

Re: Why are PayPal Working Capital Loans no longer...

by davoaxoim Contributor in Products & Services
‎Aug-28-2023 05:58 PM
1 Kudo
‎Aug-28-2023 05:58 PM
1 Kudo
Straight from the FAQ Is PayPal Working Capital available to businesses located in all states and US territories? No. PayPal Working Capital is currently unavailable to businesses located in Nevada, North Dakota, and South Dakota. Please continue to check back to see if PayPal Working Capital becomes available in your state.   ... View more

Re: Working Capital State Restrictions?

by davoaxoim Contributor in Products & Services
‎Aug-28-2023 05:53 PM
‎Aug-28-2023 05:53 PM
Did you change over to Zettle? If so then you and everyone that has are no longer able to get PPWC loans. The reason is that the algorithm that approves PPWC loans doesn't see Zettle transactions as PayPal Transactions. Thus it doesn't count them towards eligibility.   They have known about this issue for almost 2 years now and have not corrected the issue or given a target date of when it will be fixed. ... View more

Re: Woring capital issue with zettle

by davoaxoim Contributor in Products & Services
‎Aug-28-2023 05:47 PM
1 Kudo
‎Aug-28-2023 05:47 PM
1 Kudo
The worst thing is that they knew about this issue long before they began to offer Zettle to their customers. In fact, they have known about this issue for close to 2 years now and have yet to fix it or even commit to a date when it will be fixed.   If you haven't noticed none of their tech support people bothered to reply to this thread and a majority of the ones on here. When they did, they suggested switching back to PayPal Here or using the virtual terminal and manually entering every credit card transaction. Then reapplying in 6 months.   I'm guessing that either PPWC is not a big profit maker for PP or they are phasing it out altogether. The sad thing is that there was already a Zettle Capital Loan program built into their system when PP bought them. Of course, PP killed it and hasn't replaced it at all. I really wonder if anyone is getting new loans and if there are many outstanding loans left? ... View more

Re: Working capital

by davoaxoim Contributor in Products & Services
‎Aug-14-2023 05:44 PM
1 Kudo
‎Aug-14-2023 05:44 PM
1 Kudo
This is the way it has been for the last year and a half. They know there was an issue, but they still pushed through Zettle without a solution, told clients that it wouldn't be an issue with future loans, and still didn't fix it. I'm not sure if they are just planing on phasing out PPWC or going to introduce something new. I just wish someone with PayPal would clarify that it will be resolved and when it will be resolved. This is frustrating having placed expansion plans on hold because I had been told there will be a solution soon. I guess that it isn't exciting enough to affect their stock price, so they are not in a big hurry to fix it.    The thing that bugs me the most is that I should qualify based on online sales but since a majority of my sales are in person, the algorithm keeps denying me. At first, they said it was because the system see the Zettle transactions as inconsistencies but now I've been with Zettle for over a year. Still denial over and over.   I find it interesting that none of the experts seem to reply to any of these threads that involve this issue.   ... View more

Re: Paypal Working Capital Refused

by davoaxoim Contributor in Products & Services
‎Jul-29-2023 04:30 PM
1 Kudo
‎Jul-29-2023 04:30 PM
1 Kudo
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.  ... View more

Re: Paypal working capital

by davoaxoim Contributor in Products & Services
‎Jul-03-2023 05:39 PM
‎Jul-03-2023 05:39 PM
The last I heard was June or July but as of today it still isn't resolved. The merger has nothing to do with it. The algorithm was not built to recognize the zettle payments as Paypal transactions. Thus the algorithm thinks it is a third-party processing service. Paypal has been aware of the issue for over a year and the only solution they gave was to switch back to Paypal here or use the virtual terminal to re-qualify in 6 months. Both are not solutions and they should have been clear that the zettle payments wouldn't be counting. if fact, before switching to zeetle I asked a rep if it would affect my capital loan or future loans and they flat-out told me that it wouldn't affect it at all.  Then I paid off the loan in October and have gotten denied ever since. There are some threads that date back to January 2022 stating this issue. Yet it seems like every time I called support, they acted like they weren't aware of the problem and have no real time line when it will be resolved or if I will   have to wait another 6 months. ... View more

Re: Does PayPal here have a headquarters office ad...

by davoaxoim Contributor in Products & Services
‎Jul-03-2023 05:30 PM
‎Jul-03-2023 05:30 PM
They have offices in Omaha, NE [removed],La Vista,NE,[removed] It is listed as Payment Processing and insurance. So, I'm guessing that they would cover Zettle. ... View more

Re: Paypal Working Capital & Zettle

by davoaxoim Contributor in Products & Services
‎Jul-03-2023 05:21 PM
1 Kudo
‎Jul-03-2023 05:21 PM
1 Kudo
Well, it is July 3rd, and still not a thing has changed for an issue they have known about for over a year. ... View more

Re: Is Zettle take over working capital

by davoaxoim Contributor in Products & Services
‎Jul-03-2023 05:17 PM
‎Jul-03-2023 05:17 PM
Well, currently paypal working capital does not recognize zettle payments. So, if you do apply for a new loan, you will be denied. It's been that way for over a year now with no fix in sight. ... View more
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