I’ve had up to 15,500 in working capital loans & even paid 1 of way ahead oh schedule during covid shelter in place for covid . Paid off loan still shows on my account but does show paid in 11 months only because I opted for the suspension of payments for 2 months during lock down and the uncertainty of what was going to happen. ( even exceeded the minimum payment due for the quarter by twice as much ) After paying it off , it look several days to receive the paid off email . 2 weeks before I paid off my loan for some odd reason my regular sales were placed on hold , I had 2 on 1 day for 200.00 , I called and was told that there was a glitch and I was not the only merchant this was happening to , they manually released my funds and stated that they would add my name to some ticket to submit so that my sales wouldn’t be held again . The very next day The first sale came in and while I was on the phone with them again 2 more came in totaling an additonal $400 in sales . I explained what happened yesterday the rep had no idea what I was talking about , finally talked to a supervisor & again my holds were manually released & I was told it was a mistake . So when I reapplied for my new working capital I was denied because of HOLDS that had been issued on my account . I called working Capital explained what was up , they couldn’t find any holds . I said exactly because it was a mistake on PayPal’s end and it was manually released . She informed me to wait until 30 days after they were manually released because they can not over ride the working capital loan on how ever it’s done. So I did. Now I get denied with the same code you all have . I don’t have any disputes , my processing volume never decreased , my sales have not changed even when you look at year to date even being shut down for shelter in place , they actually exceeded from previous year , I’ve been in business since 2007 and have had my account with PayPal for over 5 years and my account is used as the only means of payment from my company . So nothing has changed. Was told again by working capital to wait til 1st to reapply because the system in which decisions is based off looks at the current quarterly info & from what she has seen this denial is the one people get before they are approved. I applied again and was denied with sales up. I was also told that they are revamping how they will be doing these loans now because of covid . So basically Paypal isn’t going to be giving anyone any more working capital loans from what I can see and no I am not an eBay seller/merchant.
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