Paypal is holding my E.I.D.L just because, Permanently limited, 180 funds hold

HailzBellz
Contributor
Contributor

Im no longer allowed to use Paypal because my Paypal account isn't consistent with Paypal's users agreement??? Huh!?!?! I literally opened this paypal account because I was instructed to by SBA so I could have my E.I.D.L and advance deposited to the paypal account since i did not have a business account. I do just that, I get my E.I.D.L loan money first. I then find out that I can actually transfer my E.I.D.L to my personal First Financial account. I do just that. Everything goes smoothly. Then about 12 hours later I receive the E.I.D.L Grant money. So like before, I click on transfer to my bank account- except this time Paypal decided to freeze the transfer to review it. Fast forward 5 hours and Paypal is telling me that I can no longer use paypal and any money still in my account will be held for 180 days! I am livid, confused and now also terrified. This cant be legal. How do I get access to my funds that were loaned and granted to me so that my business has its best chance of getting through this current Pandemic? Paypal decides to just take my funds and sit on it, for 180 days, when my business is going to have to close since Paypal has done this. I am hoping, wishing and praying for a miracle. Or some helpful guidance on what I should or could do to get my money asap? Thanks!

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2 REPLIES 2

spookyheartsG
New Community Member
so you did use your PayPal account for your grants and loans ? and it went through ? I think because maybe it's a high amount of money coming in and out could be why or if unhave any other problems .... I'm online looking to see if our paypal accounts can be used there's a routing and account number for the regular PayPal and I have the card. the business sccoun has no routing or accout is what I read and I was told.. give them a call and let them know they know what sba is and it's not fraud. unless there other reasons . they r holding it account cause it's could be a lot of money coming out and in
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HailzBellz
Contributor
Contributor
I was allowed to have it deposited. I got approval before I did. What flagged it was their system and it was because I had just transferred 42k into my bank and a few hours later went to transfer the advance money that I got after the loan. Tsk sba **bleep** backwards. Lol but yeah you will be fine as long as u dont go and try to take the money out an just spend using ur card.
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