Working Capital Loans Suspended?!

[Kaybee4577]

Hi guys. Does anyone know how we contact actual PayPal staff now. Aware they will be lower staffed but it’s starting to feel like there just is not working service whatsoever. Like many many others, I have had eight previous PayPal working capital loans. I’m now being denied for another, right when my business desperately needs it. There are no blips in my sales or account that would explain it, and I already know this is usually an algorithm issue. I’ve waited a week now. Still denied. Still the same error codes that everyone else is getting right now. Staff have apparently been telling people to just keep trying. I think this is incredibly dishonest of PayPal, if actually, they just are not approving loans during this period. If PayPal are not offering the service right now, why are they leaving it available to apply online? Why are staff seemingly clueless and just reciting rubbish off a script saying to keep trying. It’s unfair on those staff and in customers if PayPal are not being transparent. We deliberately do not take the offer of shopify payments because we have always had PayPal WC and would rather have PayPal as the only payment option. Given how much money PayPal get from successful businesses, it seems incredibly stupid to tighten up the drawbridge and not help them survive through this time. Online sales are booming, and many businesses will either go elsewhere if they can’t get approved (maybe this is why they are not being honest and leaving people hanging) or something businesses might just fold when they would have survived. PayPal doesn’t gain from that either.

[Kaybee4577]

Yessssss to literally everything you’ve said. How is it acceptable that a business as huge as PayPal, is not expected to make one cohesive statement to explain that they CLEARLY have made some kind of huge adjustment to the algorithm that is preventing most people accessing a service that PayPal are actively advertising to them. I fully understand that they do not have to lend, and that it’s my own fault for paying off the last big chunk early and leaving myself in trouble. But I DID contact them and ask, are there any changes. I was told no. I was told there is no reason to be concerned about accessing WC afterward. It infuriates me that they are getting away with being so utterly non transparent and their staff are all being told different things. Is it that they don’t want to lend but they don’t want you to go elsewhere so are just leaving us all hanging while they just continually decline everyone but say ‘oh but keep trying. It will happen. Maybe tomorrow. Maybe next year. Who knows. Try more. But not too much. But try enough....

[robynnstorey]

I was told to keep trying to apply..using different categories until I got a positive response.  That seems like ridiculous advice.  I am so disgusted with PayPal and how they are treating me.  They are not the only merchant provider out there.  We have run millions through this service and now are getting the runaround.  It is disappointing.  

[Kaybee4577]

@robynnstorey. Oh great so their own staff are telling you to just attempt multiple fraudulent applications and then check the box that says all information is truth ahahahaha. This is such BS at this point. Have you been denied still?

[robynnstorey]

I have tried several times, all denied.  They said to wait a month and try again. It sucks. 

[robynnstorey]

After 3 months of trying, I finally got approved.  Very random indeed.  

[gringo333]

Yeah! This is truly a travesty! They told me I was denied my 15th loan because of algorithm determined everything with no human override ability whatsoever! total unbelievable f****ng bs!!

[gringo333]

Yeah! WTF is going on here! Too many of us are in the same boat and there's no answers other than algorithm and we can't do anything about it! Please keep posting update! Thanks

[L-2]

11 loans, 11 all paid off way early and "lump sum" at the end, and now denied for a new one. Same answer as everybody else, "keep applying".  Well, with the switchover in "late July" (they say) of eBay to Managed Payments, I suspect Paypal can no longer rely on eBay sales which Paypal captured 100% of eBay buys/sells and now they're going to have to split between a slew of different payment methods - none of which can be "captured" (except Paypal).  PayPal is probably bottom of the heap, and especially since they are no longer "connected" to eBay, Paypal most assuredly doesn't want the liability of nobody paying on eBay with Paypal (that can be captured by Paypal) but paying with different payment methods like Visa, MC, AMEX, Apple Pay, etc. that CANNOT be captured by Paypal.  Just my two cents, but the Paypal agent I talked to kept asking how much of my revenue was derived from eBay and how much via Website sales. I thought that was odd, until I realized eBay recently split off the whole company of Paypal, and that eBay was now moving on with their own merchant services (Managed Payments).

I would think this may be the blow that kills Paypal.  It may really hurt eBay too from what I hear in the rumor mill.  I know I've been looking at alternatives.  I very well may be eBay will be doing Capital Loans in the future.  "Follow The Money".

Lump