PayPal working capital decline DLGJ0656

[chiwinghung]

I've had been use PayPal for 5 years, in total took 7 PayPal working capital all paid off early and in good standing with my account, sales consistently everyday top rated and power seller on eBay, but this time decline with unknown reason, it's really desperate and disappointed during this period. 

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[darthshader]

I think it is lottery based now, absolutely no reason you get chosen. On the plus side, better to not become dependent on these loans to grow your business. I love the extra boost to build inventory, but the chunk it takes of incoming sales can be tough too. It breaks down to over 10% plus interest, not bad, but not great.

Don't take it personally when you get declined, it's not your fault.

Ive used this service for a few years, always was able to renew the same week. When the pandemic hit, that all ended. In my opinion, they shifted gears to lend PPP money. No one will answer why you are denied, they don't know either.

It doesn't count against your credit to apply, so do so every day. Good luck, and hang in there everyone!

[verminuet]

An update to my previous post- 

to recap: I finished paying off my loan early September of 2021, and was desperately trying to get another before the busy season started up (winter- I work in SEO) but couldn't get another loan.  I tried daily for almost two months before eventually giving up and deciding I was out of luck.  On December 26th 2021, I got an email telling me to apply for a loan, and this time when I applied I was accepted immediately. 

I took out the loan, and just finished paying it off this September- applied again and got that error code.

I think it's a lottery and invitation based.  This year my business has made 33% higher sales than it did last year, so there's no reason for my application to get declined- it was steady and over the entire year.  I truly think this is invitation based only, and no matter how many times you apply outside of that invitation, it won't matter.

[Munlimited]

Thanks for this info, I’ll stop applying. It’s crazy how I know people not even making 1k a month and getting a loan and I come with my business booming and can’t get an offer. Such a waste of time.

[verminuet]

as I'm typing this I just got approved again

it's been a week since my last loan ended

[Cascades2020]

Yes 👍 I’m almost paid off on this loan. I kept getting denied so I called them. Super Nice customer service and told me to apply after being paid for invoices rather than applying on days with No invoices because they go by your Sales.