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since ‎May-04-2021
SRTWY

SRTWY

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Latest Contributions by SRTWY
  • Topics SRTWY has Participated In
  • Latest Contributions by SRTWY

Re: Working Capital Denied - Industry

by SRTWY Contributor in Products & Services
‎Sep-28-2021 06:59 AM
‎Sep-28-2021 06:59 AM
It's a continuous problem for everyone right now.  Do a quick Google search or look through these forums (although, weirdly, posts in general from the last few months...including the stickied posts...aren't showing up today; looks like the forums are having issues); hardly anyone is getting approved and no one knows why.  Even the very few who get approved are getting amounts that are peanuts compared to previous loans.   It's been this way for almost a year.  PWC/WebBank haven't said anything, customer service has no idea, and the very small amount of approvals don't seem to have any commonality other than again, being awfully small compared to their previous loans.   I don't think the program is long for this world, and I've spoken to a few business owners for whom this (the lack of communication and disingenuous advertising) was the last straw and are moving all of their business away from Paypal because of it. ... View more

Re: Why can't I apply for working capital again?

by SRTWY Contributor in Products & Services
‎Sep-17-2021 07:53 AM
‎Sep-17-2021 07:53 AM
Unfortunately after almost 6 months of this on our end, we just don't care anymore and it's not worth wasting our time on.    It's an obnoxious way to treat/communicate with customers, particularly longtime loyal customers who continue to meet all of the advertised criteria and have never had an issue.  Especially when it continues to be actively advertised and even pushed on us as still being a viable option.   The only reason I continue to pop on here and pay attention to the situation is to be informative to the literal throngs of other customers being stonewalled and misled by this ridiculous way of doing business.   I'll be very shortly moving all our business in general back to Square, who has far more accessible and consistent customer service, lower operational fees, fewer additional charges, and a much more dependable merchant cash advance program than PWC is. ... View more

Re: Why can't I apply for working capital again?

by SRTWY Contributor in Products & Services
‎Sep-14-2021 11:08 AM
‎Sep-14-2021 11:08 AM
The thing is that PWC has always been completely algorithm-based; frontline customer service has never been able to actually give people concrete, accurate answers on their chances of approval or exact reasons for denial because they have no idea.  Sometimes they can give general pointers or very obvious things on your account that might be tripping the algorithm, but customer service isn't privy to what all goes into the algorithm.   It's also realtime-based; that's why they just tell people to "keep reapplying"...because under normal circumstances it literally can change on a daily basis or with your very next sale.   The problem with all of this is that when there's an actual, larger issue going on, there's literally no way to report it to anyone that can look into it.  There have been times in the past where something got broken or whatnot on the backend and it's resulted in similar situations; it ends up taking months for them to realize it and figure it out because you literally can't talk to anybody...besides the people who don't actually know anything and can only tell you "keep trying, everything's working as intended".   So either that's what's happening (again, it's not the first time), or PWC/WebBank have all but cut the program and they haven't communicated it to anyone.   Regardless, the whole thing is a joke at this point. ... View more

Re: Why can't I apply for working capital again?

by SRTWY Contributor in Products & Services
‎Sep-14-2021 10:17 AM
1 Kudo
‎Sep-14-2021 10:17 AM
1 Kudo
Nobody knows.  PWC is in shambles right now; hardly anyone is getting approved and even customer service can't tell you why.  It's been like this for almost a year and only seems to be getting worse.   Do a cursory search of these forums or even a Google search; I've seen hundreds of complaints over the last year about this and there's literally no answer.  People with longstanding, solid PWC histories, no changes in business info, nothing in recent history that would trip the [already notoriously finicky] approval algorithm, etc. are all getting denied for months on end.  The few people who are getting approved, are getting very small amounts in comparison to previous loans.   People are literally starting to move all of their business away from Paypal over it and yet, astonishingly, both Paypal and WebBank (the underwriter) have been completely silent on the issue.  There's either a problem that hasn't been recognized, discovered, or resolved with the algorithm itself, or PWC has made a conscious decision to severely restrict lending and they've refused to communicate that to anyone. ... View more

Re: capital loan

by SRTWY Contributor in Products & Services
‎Sep-10-2021 08:42 PM
‎Sep-10-2021 08:42 PM
Nope.  Longstanding, well-known issue that's discussed quite often here.  PWC seems to have all but halted lending and literally no one knows why, not even customer service.   Maybe 1 out of 50 people seems to get approved, and even that person is getting offers for maybe 20% of their previous loans. ... View more

Re: Low Working Capital Offer - how long to regene...

by SRTWY Contributor in Products & Services
‎Sep-05-2021 07:00 AM
‎Sep-05-2021 07:00 AM
So, a few things...   Most people are having major problems even getting a PWC loan right now in the first place...and even when they do, like you, it's a fairly low amount.   I have come across a couple of people who chose not to accept, and then when they went to apply later were once again denied.  It's a gamble; the algorithm is finicky (always has been) and it very much seems that something is broken with the program right now on top of that.   I don't recall how long you have to accept the offer, but I don't recall it being very long (a few days maybe?)  Offers don't "regenerate", you just decline it or let it expire and then you have to apply again just like you did previously...and then you're once again at the mercy of the application process. ... View more

Re: Has anyone used Zettle to receive TIPS?

by SRTWY Contributor in Merchant Products and Services Archives
‎Sep-03-2021 05:53 AM
‎Sep-03-2021 05:53 AM
That was the most amazing non-answer I've ever seen, lol.  Not that I expect much these days from PP representatives.   I scoured both links and found zero mention of any "tip" function whatsoever.  While that may not be an issue for OP (I'm sure you can just manually enter whatever amount as a regular charge if all you're taking is a tip), it actually doesn't answer the question for those of us who provide goods and/or service but also rely on tips...a specific function that hasn't always been well-designed in Paypal Here.   I'm also curious about the phrasing of "replacing" Paypal Here.  We still use Paypal Here and it functions (mostly) just fine for now...is there a particular deadline we have to fork over money for a new card reader and switch over by?  If so, that would have been nice to know via an email blast or something, rather than happening to find out by chance on the PP merchant forums.... ... View more

Re: WORKING CAPITAL DENIED CODE DLGJ0602

by SRTWY Contributor in Merchant Products and Services Archives
‎Sep-02-2021 06:58 AM
‎Sep-02-2021 06:58 AM
@anonymouse78  Yea, a few people (us included) have had that issue too....new buttons, splash screens, or emails telling us we're pre-approved for another loan and still persistent denials.   Makes me think there's actually something wrong with the application system or algorithm (it wouldn't be the first time over the years there's been issues there) and for some stupid reason they've not noticed or bothered to fix it.  It's astounding.   Personally, I wouldn't care so much except they constantly advertise it to me.  Like seriously, stop wasting my time.  Your program is broken; come back to me when it's actually fixed. ... View more

Re: Working Capital

by SRTWY Contributor in Merchant Products and Services Archives
‎Aug-18-2021 07:11 PM
1 Kudo
‎Aug-18-2021 07:11 PM
1 Kudo
No one knows.  It simply seems that very, VERY few people are getting approved, but literally no one knows why.  It's been going on for close to a year now; there's new posts here on a weekly basis about it.  Paypal and WebBank have been completely silent on the issue; customer service reps have no clue because it's all automatic and algorithm-based and their job isn't really about figuring out why people are getting denied (they're just as out of the loop as any of us, so of course their default answer is to just "keep trying").   As far as the other commentator's wall of assumptive and anecdotal blather....none of that matters.  We've all been through the typical, simple stuff...this isn't our first rodeo with PWC's notoriously picky algorithms.  No one I know that has been denied (and that's dozens of people over the last few months) ever did sales through eBay, sales for many of us never fluctuated, all of our business information is correct and up to date...the list goes on.  And yet, many people have gone months, even a year without being approved now.   No one actually has any answers, unfortunately. ... View more

Re: WORKING CAPITAL DENIED CODE DLGJ0602

by SRTWY Contributor in Merchant Products and Services Archives
‎Aug-12-2021 07:37 AM
‎Aug-12-2021 07:37 AM
I don't know why you guys insists on refreshing old threads from one, two, even three years ago constantly for this.  Lol.  There's a new thread nearly every week right now.   PWC is having major problems; virtually no one is getting approved regardless of their situation.  No one has any answers, PWC and WebBank have not said anything, CS has no clue what's going on, and there's no magic tricks to get approved that anyone is aware of.   The program is virtually dead and literally no one knows why.  It's been this way for quite some time now. ... View more

Re: working capital code DLGJ0906

by SRTWY Contributor in Products & Services
‎Aug-10-2021 09:30 AM
2 Kudos
‎Aug-10-2021 09:30 AM
2 Kudos
@Jiminanbox    Yea, honestly at this point I've just given up, and it's more annoying than anything having them keep advertising the service to me and asking me to reapply.   Whatever; they can run their business how they want.  If they don't want to make money off of me then it's their loss I suppose.  It's just mind boggling how they're going about it. ... View more

Re: PayPal capital 2021 success

by SRTWY Contributor in Merchant Products and Services Archives
‎Aug-02-2021 10:28 AM
‎Aug-02-2021 10:28 AM
Good luck.  These forums are filled to the brim with posts from people with the same story as you and I.  There's been at least 2-3 new complaints on this site alone every single week for the last several months.   There's no magic trick, no secret formula that any of us are privy to that you are not.  PWC is simply barely loaning to anyone, and even the rare person I have found that has been approved, has gotten a very small amount compared to normal.   Neither PWC nor WebBank (the underwriter) have been transparent about it or explained anything at all.  Customer service is useless; they don't know what's going on.  People who claim to have had some amount of success by doing "x" or "y" are full of it; it's been purely coincidence.   Either the program was severely cut back and no one at PWC decided to be transparent about it, or something is seriously broken with the algorithm (again) and for some bizarre reason no one at PWC has noticed or fixed it.  Either way, no one has any actual answers. ... View more

Re: Capital loans

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-29-2021 07:14 AM
‎Jul-29-2021 07:14 AM
Nope. Almost 4 months now since last loan payoff and no approval here.   Seems to be the story for nearly everyone around here; dozens upon dozens of complaints on these forums alone just over the last few months...with lots of people contemplating similar moves.   Not that they owe us loans by any means, but the complete lack of transparency or explanation by PWC or WebBank as to what's going on or what has changed has turned the entire PWC program into a joke.  Not to mention they continue to advertise the program and encourage businesses to keep applying even though the vast majority are getting denied for reasons completely unknown to anyone, which is frankly bizarre.   I can't wait for them to shut down Working Capital based on "low revenue" or whatever because they were too brain dead to realize their system was rejecting 90+% of their applicants...applicants who meet all of their stated (and hidden) criteria.   Sorry; I'm just kinda over it at this point.  I know a lot of folks are. ... View more

Re: Working Capital Loan July 2021

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-20-2021 09:00 PM
‎Jul-20-2021 09:00 PM
Unfortunately, the vast majority of us have not had major, fundamental changes to our business types or incomes....and I, for one, refuse to lie about any of it (and in some cases it's pointless, because the system checks that info anyway).   It's great that that seems to make a difference in niche cases like yours (though perhaps it was just coincidence), but it doesn't really solve the core problems with PWC right now. ... View more

Re: What’s working capital like at the moment?

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-20-2021 08:53 PM
‎Jul-20-2021 08:53 PM
Still getting endless denials (usually "industry not eligible" denials) for absolutely no reason on my end, and there's usually 2-3 posts here per week with the exact same complaints.   It's the same if not worse.  Whole program is a joke at this point. ... View more

Re: Very low amount on Working Capital Loan - idea...

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-10-2021 01:06 PM
‎Jul-10-2021 01:06 PM
@Redwoodrogers    Why would you resurrect a 3-year-old thread when new PWC threads with the same complaints pop up every single week?   Regardless, anyone even getting a PWC loan at all right now is extremely lucky, but for far different reasons than 2-3 years ago (when OP and followup commentator both posted). ... View more

Re: 4th PayPal Working Capital Loan Declined DLGJ0...

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-06-2021 08:38 AM
‎Jul-06-2021 08:38 AM
If you take a look through these forums, you'll see that PWC has some major problems right now.  There's at least 2-3 posts per week of longtime customers getting denied for random reasons, reasons that don't make any sense, or no reason at all.  The algorithm also often spits out default "fallback" reasons that may or may not be the exact reason for denial.   Either they severely tightened up the restrictions on their lending and can't be bothered to tell anybody, or something is very broken with their algorithm (which has happened before) and they haven't fixed it (or for some insane reason haven't noticed).   Either way, barely anyone is getting approved right now, there has been zero transparency from PWC or WebBank, and at this rate even if they loosen up lending I'm pretty sure they've alienated their entire customer base.   But yea, at the end of the day none of us has any answers.  I wish we did.   ... View more

Re: DECLINED FOR SECOND WORKING CAPITAL LOAN?

by SRTWY Contributor in Merchant Products and Services Archives
‎Jul-02-2021 09:43 AM
‎Jul-02-2021 09:43 AM
Yea, we recently got that too.  They keep bombarding everyone with new invitations to apply, but are still categorically denying everyone for no reason at all....even longtime customers who fit the application criteria perfectly.  And the denials keep coming for months.  It makes zero sense.   I'm starting to think something with the algorithm is seriously broken (wouldn't be the first time) and for some absolutely insane reason this time they haven't noticed. ... View more

Re: No option to apply for another PayPal working ...

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-29-2021 08:14 AM
‎Jun-29-2021 08:14 AM
It shows back up after a few days; this last time it took about a week for us actually.  Until then, you can actually backdoor it and find the direct application link in the PWC FAQ page.   Having said that...good luck getting another one.  Almost no one seems to be able to get a PWC loan right now, even longtime customers with perfect loan histories.  They're categorically denying almost everyone.  Just a heads up. ... View more

Re: Issues With PayPal Working Capital Loans

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-19-2021 11:11 PM
‎Jun-19-2021 11:11 PM
Yea, there's been like ten of these posts/threads here in the last 2-3 weeks alone.   Tl;dr: A few people have finally gotten approved very recently for small amounts after months of trying, but most are still getting denied for no apparent reason.  Literally no one has any actual/specific answers or clarification on any potential criteria changes. ... View more

Re: Capital loan

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-18-2021 07:15 AM
‎Jun-18-2021 07:15 AM
I'm happy for you!  Glad you got the funding you needed.   Unfortunately we're still getting denied as of today. ... View more

Re: Working Capital not working?

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-17-2021 08:50 PM
2 Kudos
‎Jun-17-2021 08:50 PM
2 Kudos
Do a quick search of these forums.  Almost no one is getting loans for some reason....many of us also getting the 602 industry denial...and no one knows why.  Paypal and WebBank have been silent on it, and PWC customer service just spews the typical "keep applying daily, things can change" nonsense because they don't have a clue either.  Some of us have been going through this for months.   PWC certainly doesn't owe us loans, but this way of doing business and the lack of communication is some of the most asinine stuff I've ever seen from a financial institution...or any business, really.   I wouldn't mind if, for whatever reason, they were shutting down the program or tightening up on it or whatever.  That's their prerogative.  But if that's the case, TELL US.  Don't keep telling us all to "keep applying" and continue putting the invitations on our dashboard and telling us that everything's fine and normal.    ... View more

Re: Capital loan

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-14-2021 06:33 AM
‎Jun-14-2021 06:33 AM
Nobody knows.  Very few people seem to be getting them; your story is the same as many, many others over the last year or so.   Customer service has no idea, Paypal and WebBank have not said anything or commented on it...we're literally all just as much in the dark as you are.    There's no "trick" to it or anything else.  Believe me, we've all been trying to figure it out for a long time.  All we've been able to do is guess and speculate, but no one really has any actual answers. ... View more

Re: working capital code DLGJ0906

by SRTWY Contributor in Products & Services
‎Jun-12-2021 07:19 AM
2 Kudos
‎Jun-12-2021 07:19 AM
2 Kudos
Yea, I'm starting to see a few people get approved for what are usually laughably small amounts, but I guess it's something.   Personally, we're still being denied daily....going on two months now.  Absolutely zero reason for it; no changes to our business or information, no changes to our sales patterns (slow and steady increase over the last year but nothing beyond that), no unusual spikes or dips, no holds/chargebacks/disputes whatsoever. We're an extremely dependable and stable business; we had one down month in March of 2020 (well over a year ago) during a fairly short-lived COVID shutdown here, and then last November was a little down as well...but that's it.   Incredibly frustrating.  Not that they owe it to us by any means, but the lack of transparency is what's really annoying (and frankly a terrible way of doing business). ... View more

Re: refused paypal working capital code DLGJO225 w...

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-07-2021 06:27 AM
‎Jun-07-2021 06:27 AM
I'm glad you were able to get something!   Codes have changed a few times for us (usually bouncing back and forth between the 602 and 911 codes), but still no dice after nearly a month and a half...so yea.  There's really no reason for it; we've had no significant deviations from normal in sales trends regarding spikes or dips, business overall has been normal for several months, we don't sell on eBay, we've never had any holds or disputes, and the nature of our business means we don't ever have any open/unpaid invoices or anything. Etc.  It's bizarre and frustrating.   PWC's big selling point has always been that it's easier to secure a loan from them than it is to get a traditional loan from a bank or whatnot, due to relaxed criteria.  I'm really not so sure that's the case anymore....it's almost harder and it's definitely far more random.  Not to mention the lack of transparency is insane. ... View more

Re: DECLINED FOR SECOND WORKING CAPITAL LOAN?

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-03-2021 06:53 AM
1 Kudo
‎Jun-03-2021 06:53 AM
1 Kudo
If you do a cursory search of these forums and others, you'll see that pretty much everyone is getting declined for PWC loans.  Even longtime customers with perfect sales and repayment histories on multiple loans.   No one knows what's going on, not even customer service, and neither PWC nor WebBank (who underwrites the loans) have said anything or addressed the issue.   Best you can do is swamp their "Feedback Survey" (on the left hand side of your PWC dashboard) daily and hope the issue eventually gets fixed or they at least publicly address the issue and decide to be transparent about it. ... View more

Re: DLGJ0602 - PayPal Working Capital Decline

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-03-2021 06:46 AM
2 Kudos
‎Jun-03-2021 06:46 AM
2 Kudos
Yup.   This is why I've been saying I don't think they're lending to anybody (if they are, it's maybe 10% of their usual base) and tbh I'm pretty sure PWC may not be a thing at all soon.   Literally all I've heard from dozens and dozens of people on here, Reddit, Facebook, etc. over the last two months is that PWC is refusing to loan to pretty much all of their previous customers, with the 602 "industry ineligible" being the most common denial reason.   Either they've shut it down and still haven't had the common sense or balls to be transparent about it, or something is very broken with their algorithm (again; it wouldn't be the first time it's happened over the years) and for some reason no one at PWC or WebBank has had the brain cells or wherewithal to notice.   They certainly don't owe us loans, and if a business isn't going to survive without a PWC loan then tbh it wasn't going to survive anyway.  But it's certainly an absolutely laughable way of doing business...and even if they start loaning to people, or fix the problem with the algorithm, or whatever else is going on, they're quickly losing their entire previous customer base.   Believe me, we're all just as frustrated with it.  PWC is great when it works, but the program, system, and customer service is amazingly inept when it doesn't and it's probably the least dependable system in the industry. ... View more

Re: refused paypal working capital code DLGJO225 w...

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-02-2021 07:05 AM
1 Kudo
‎Jun-02-2021 07:05 AM
1 Kudo
Unfortunately, unless it gave you clarification at denial, no one really knows....customer service included (honestly half the time they just give you guesses).  You might get further clarification via mail in a few days, but even that's hit or miss.   This is pretty much the story with PWC lately...either random denials or "industry not eligible" denials.  I've come across dozens and dozens of longtime customers with solid sales and repayment histories being denied for no apparent reason over the last few months, and no one knows why.   Personally, we've been denied for a month straight in spite of consistent, steadily increasing sales, meeting all the requirements, having a solid repayment history, and having 4 previous loans over the last 4 years or so that all remained in good standing their entire term.  Customer service is useless, and all they can tell people in the end is to "keep trying daily" as usual.   The utter lack of communication and transparency from PWC and WebBank would be hilarious...if it wasn't so sad and frustrating.  They've gone to such great lengths to alienate their entire customer base that one almost wonders if they have no real intention of keeping the program going much longer. ... View more

Re: Working Capital Loan Amounts

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-01-2021 07:28 AM
‎Jun-01-2021 07:28 AM
Good luck!  ( I mean that sincerely.)   I've seen a couple of people get approved in the last couple of months [for surprisingly small amounts], but even that's been dwarfed by the sheer number of people getting random denials or being told that now, suddenly, their industries (a wide variety of them) "don't currently qualify for Paypal Working Capital".   Do you mind me asking what industry you're in? ... View more

Re: Working Capital Loan Amounts

by SRTWY Contributor in Merchant Products and Services Archives
‎Jun-01-2021 05:59 AM
‎Jun-01-2021 05:59 AM
Remember that the cap is lower for your first two loans, then it gets raised substantially.  It's always been that way.  Max cap after that has always been somewhere between $125k and $200k, though I've never personally witnessed a PWC loan of greater than 100k even in normal times.   However, also keep in mind the max loan seems to be literally zero for most people right now, regardless of their sales or industry...as PWC is barely lending to anyone for whatever reason. ... View more
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