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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

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

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

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

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

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

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

@crazybooklady    I mean, to be honest if your business is instable or struggling to the point you literally can't pay the bills, I'm not sure PWC (or anyone) would want to loan to you even in normal times, and for good reason.  PWC's algorithms (even in normal times) try to assess stability and income for that very reason...they just happen to [usually] be more lenient on some things than traditional lenders.   And as others have mentioned on posts like this, no one...PWC least of all...necessarily owes us anything, and a business that's literally going to shut down if they can't get a PWC loan may not be a business that was going to survive anyway.  Yes, there are seasonal businesses, but PWC has always been a bit wary of those and inconsistent in their lending to them, and that's not anything new. Believe me, I feel your frustration, but trying to lay your business's shutdown entirely at PWC's feet is a bit much.   The point here is that there seems to have been a major change to, or possibly even a shutdown of, the PWC program itself....yet, there's been zero transparency or answers at all from WebBank or Paypal.  And above and beyond that, they're still telling (encouraging, even) people to keep applying, which is bizarre, largely pointless, and frankly seems a bit dishonest/disingenuous.  It's just a bad look and bad way of doing business, and it further alienates an already fairly disgruntled customer base.  That definitely is something to be irritated about, especially for those of us who have been loyal and profitable customers for PWC for years. ... View more

Nope.  And from what I've seen, it's the same story across the board.  Longtime customers, perfect loan/repayment histories, consistent and steadily increasing sales, all boxes checked...everyone is now getting hit with a few random denials and, most prevalently, "industry not eligible" denials.  Customer service gives the same old song and dance because they truly have no idea.  PWC and WebBank still haven't said anything; we're all pretty much in the dark.   It seems that they've simply all but stopped the program, but yet they're still encouraging people to apply.  Makes no sense, but I've given up on it.   PWC has a history of this kind of thing, but this is by far the worst I've ever seen it.  At this point I'm pretty sure PWC isn't going to exist soon.   Until then, all we can do is utilize the Feedback surveys and give customer service a call once in a while; if there's [yet another] problem/bug with their algorithm by chance maybe they'll eventually notice.  But if it's intentional, there's nothing to be done...and to be entirely honest, I can't say that I didn't see it coming.   The lack of transparency is absolutely mindboggling though. ... View more

Unfortunately, very few....if any....people are getting approved for PWC loans right now.  Some are getting random errors like yours, most are getting 602 or related errors and being told their industry doesn't qualify.  Even folks with stellar loan, sales, and repayment histories can't get anything.   Neither PWC nor WebBank has been transparent about it at all, and no one (including customer service) really knows what's going on.  But it's alienated the majority of their customer base, and I have to wonder if it's going to be the end of the program (whether intentional or not). ... View more

You're not alone; this is just the way it is right now.  PWC is hardly loaning to anyone...regardless of sales or loan history...and neither they nor WebBank is giving any answers or explanations (which is par for the course for them over the years anyway, unfortunately).   It sucks (believe me, we're in the same boat), but it is what it is. ... View more

@sharpiemarker    Just as a note for people here though, PWC is barely giving any loans at all out right now. ... View more

@lauradark  Yup, same here.  Rock solid sales and loan repayment histories, continually increasing business even with COVID, zero changes to business information, etc.  Now daily denials due to DLGJ602 "Industry Doesn't Qualify".    There's not much that can be done, unfortunately.  These forums are filled with posts and comments like this; we all know at this point not to depend on PWC (as stuff like this has been happening for years) but it definitely doesn't make it any less frustrating for sure.   I'm starting to think, though, that due to everything going on over the last year they just straight up turned off the faucet for most of us.  It seems less random (as it has been in the past) and more consistently "we're not loaning to anyone right now"; the "industry doesn't qualify" codes are a lot more consistent and commonplace.  Which would be whatever...that's totally their right...but it would be nice if they were transparent about it and actually let us know what was going on, instead of telling us to keep wasting our time and effort reapplying on the daily.   It also seems strange to me, seeing as how at least in my region things have been open with virtually no restrictions for months, and COVID cases have remained extremely low and stable.  Business for everyone in my area has been up for quite some time now. ... View more

Unfortunately, no.  The reason we use PWC is that for one technicality or another we haven't been able to meet all of the requirements for other merchant cash advance lenders. As time goes on, though, it looks like PWC is no longer an option for us either. ... View more

Unfortunately, this whole thing is normal for PWC.  Lol.  Random and unsubstantiated denials and errors, often lasting days, weeks, or even months for some customers...is part of the PWC experience for almost all of us sooner or later.  I can't tell you how many times I've come across folks who have said "we've had X number of loans through PWC with no issue" but are now experiencing the same garbage problems with it that everyone else has had at some point.  It's been this way for years....since PWC's inception.   The entire system is 100% automated, finicky, and incredibly prone to bugs and errors.  No one (customer service included) knows exactly how it works or why, and the denial reasons and errors are often just random or generic stuff that it spits out when it has an issue.   It's frustrating, I know...but literally all you can do is continue double-checking all your information and all the criteria, and continue applying each day.   Unfortunately, it doesn't seem to be a big enough issue profit-wise for PP or WebBank to actually overhaul the system.   If it makes you feel better, we're going through the same thing.  Four previous loans, stellar history, no red flags, steady increase in sales, you name it...now getting random denials and errors (that change daily and are often outright false) for no particular reason.  It is what it is. ... View more

No one really knows all the criteria that the algorithm considers (it's all 100% automated and even customer service doesn't know exactly what all goes into it) and no one will be able to give you the definitive answer.   However, I can tell you that your total sales volume is not the only thing that is considered when calculating your potential loan amounts.  We do know that it also considers trends/spikes/dips, and it places particular emphasis on the most recent 90 days of your sales history.  There are most certainly other factors as well, though.   At the end of the day, however, it is often seemingly random and again, no one really knows.  I've had steady increases in sales before and basically checked all the known boxes if you will, and had the next loan be significantly lower.  Then, with little to no change in situation, I've had the next loan after that be almost doubled in amount.  I also know that PWC will supposedly loan up to 35% of your previous year's sales volume, but even after multiple loans and a perfect history, we've never been loaned anywhere remotely close to that limit.   It truly does feel entirely random at times.  I know that's not entirely helpful to you, but that's the reality of it. ... View more

I've read a couple of comments/posts of approval, and PWC claims it's still issuing loans...but yea, it seems the ever-typical error/random denial problem that has always plagued PWC has been a lot more prevalent over the last year or so.    No one has any answers.  The system is 100% automated, to the point where even customer service doesn't really know exactly what all goes into the algorithm or why/how some things trip it up.  Some folks have even contacted the underwriter (WebBank) and still not gotten any straight answers.   Same story, year after year...it's just particularly bad in some stretches, and this is one of those stretches.  Pandemic-related?  Maybe, but it's not unique to the pandemic; just worsened by it most likely.   I do feel your frustration, as we've been perfect customers over the last few years and are now dealing with the same thing.  But no one (including customer service) can really do anything about it or provide answers that aren't a) already outlined in the application requirements or ToS, or b) based in pure speculation. ... View more

No one ever knows, really.  The entire system is 100% automated (to the point that even PWC customer service can't give any answers other than "keep trying") and highly prone to bugs, errors, and random denials....for even the best PWC customers, large and small.  It's always been an issue, dating back to PWC's inception, but has of course been particularly prevalent the last year or so.   We're in a similar situation, though the amounts are smaller.  We've had 4 straight loans (with zero application issues or denials) totaling $13,000, blown the minimum repayment out of the water each period, paid off each loan early, and our sales have steadily continued to increase.  We have also never had a chargeback or hold in the years we've done business through PP, none of our information has changed, and we don't do business through eBay.  Now, we're encountering random error and denial after random error and denial.   Literally all you can do is double check all your info and keep trying every day.  Having said that, don't try more than twice in one day, as it'll lock you out for a week.   ... View more