Background. Have had my acct appx 10 years. Have averaged 25-35k per month in sales for the past 7 years. I have had 1 chargeback in that time and it wad fraud against me. On Sunday I applied for my 5th working capital loan ($8500 was the amount). Monday my account was locked out by paypal. My acct balance as of the loan was just over $19k. Tuesday paypal takes $10,000.00 from my account for a 180 day hold "rolling reserve". So I'm paying 30% per transaction for their loan, 3% transaction fee and now 18% rolling reserve (51% of each transaction) 30% of which is to pay back a loan i never even received! How is this legal? Any help is appreciated. I feel taken and exploited by a company I have always done right by.
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