PayPal capital 2021 success

[odinsbeardcare]

Hi guys I’m looking for people who have managed to get a PayPal capital loan in 2021 we have struggled to get a new loan from PPC despite paying off ours early and having 3 previous loans. I get the pay pal is not available for your business at present like many others do is that a refusal to lend to my industry or my business in general I’m aware there is a difference. I do a fair amount of my sales through PayPal and only had small loans of 5/10K each time my sales currently are lower than 5 months ago we were trading at 16k now closer to the 9k a month. I have had a couple cases opened against me by customers in the last 4 months like 2 cases which I resolved straight away with refunds I have also done some manual refunds in the past week for customers who’s parcels were lost and requested a refund and I managed that through my Shopify dash which came out of my PayPal balance. Hope to hear some people still getting loans as all I see is refusal and I hope I can get another loan tho not optimistic as it’s been a month now since I paid off my previous one

[SRTWY]

Good luck.  These forums are filled to the brim with posts from people with the same story as you and I.  There's been at least 2-3 new complaints on this site alone every single week for the last several months.

There's no magic trick, no secret formula that any of us are privy to that you are not.  PWC is simply barely loaning to anyone, and even the rare person I have found that has been approved, has gotten a very small amount compared to normal.

Neither PWC nor WebBank (the underwriter) have been transparent about it or explained anything at all.  Customer service is useless; they don't know what's going on.  People who claim to have had some amount of success by doing "x" or "y" are full of it; it's been purely coincidence.

Either the program was severely cut back and no one at PWC decided to be transparent about it, or something is seriously broken with the algorithm (again) and for some bizarre reason no one at PWC has noticed or fixed it.  Either way, no one has any actual answers.

[robynnstorey]

None of that matters. The only thing that matters is your business classification.  They are either loaning to your industry or not.  I got a PPWC loan in January, paid off within 4 months.  Cannot get another one despite the fact that our business revenue is up 80% year over year and that I have never missed a payment.  We run 80K per WEEK through our merchant PayPal account.  No one at PPWC can tell you why....or how it works.  It is all about the algorithm and if they identify your industry as one that is struggling, you won't get approved. 

[cheekyb23]

We have had two small size loans during 2021 so far, paid off the second last week, and no luck in getting a third this year. We’ve had 11 successful loans so far and customer service simply said try again after 10 business days if you want another. No idea why, normally we’ve always been approved 1-5 days after completing a loan. It’s all a bit weird, but it’s all very random I believe?!