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JMRCOSTUMEDES · ‎Jan-10-2018

i run a small theatrical costume business. I own the original Broadway costumes from A CHORUS LINE. I rent a complete package to professional and community theatres, colleges and universities, etc. The costume package rents anywhere between 2500- 7500 depending on length of run. A rental agreement is processed and I require 50% upon signing agreement, 50% prior to shipping. I also will break the rental down into 3-4 payments, as many theatres at times are financially strapped. All transactions are done thru PayPal . I've successfully paid off 2 PayPal working capital loans, yet keep being denied for a 3rd. Reasons: insufficient sales activity, sales fluctuations, etc. The best one I just received was insufficient proportion of historical sales to unique buyers. when I called customer service, i was told I have too many returning customers. I've received error code 656, 623 and various others. in the last 12 months, I processed $19000 thru PayPal. I've even been told my amount of individual sale is too high. I'm so confused! !! answers?

elemental · ‎Jul-01-2019

I have had 2 loans.

The second loan was denied at first. I don't recall the codes, but I did talk to customer service, and they told me that PayPal updates your account for these loans the next month by around the 15th of the month.

This is what happened to me.

I applied for the loan again in December, after paying off the prior loan in October. I was getting invitations from PayPal working capital to re-apply. The loan was denied. Called PayPal working capital, and the rep explained that I could reapply in January after my account was updated. He said it should be updated by the 15th of January. So I waited, and reapplied on the 5th of January. PayPal had updated the numbers on my account at that point and I was able to get the loan.

So basically, it looks to me that waiting until the next month to reapply can be the thing people need to do.

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JMRCOSTUMEDES · ‎Jan-10-2018

also in November 2017 for no apparent reason , PayPal placed a hold on 2 large transactions. No warning, explanation, just a 21 day hold

Whac-A-Mole · ‎Jan-10-2018

some lines of business are high risk,Paypal does not feel comfortable extending credit.

JMRCOSTUMEDES · ‎Jan-10-2018

I've had 2 previous PayPal working capital loans, both of which were paid off promptly. i keep being told to reapply. None of this makes sense as their answers get stranger and stranger

Whac-A-Mole · ‎Jan-10-2018

Paypal is not an ideal payment processor for some businesses.

you should ask for a company check instead

JMRCOSTUMEDES · ‎Jan-10-2018

thank you for your replies.

Miss17chick · ‎Apr-04-2018

Has anyone found what code 656 is? I’ve had 6 loans. Last loan dropped significantly from 11K to 3K. What a slap in the face. That was after a week of denials. Here we are again. Paid it off in 76 days and getting denied. Frustrating as all heck. Cannot run a business like this.

Miss17chick · ‎Apr-10-2018

I called today and was told it was a generic code. Go figure. She couldn’t tell me why it was declining me. Said everything was stellar for me. Frustrating. Have you been approved yet?

traxbang · ‎Apr-20-2018

Did You Get Approved Yet? Im Getting The Same Code

Kb-2613 · ‎May-04-2018

I’m getting the code DLGJ0643 ! It’s veey frustrating! I been getting denied since March 5 an customer service really gets paid to only answer the phone because they are clueless.

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PAYPAL WORKING CAPITAL DENIED OVER AND OVER

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