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. 

<removed>

[Ghostmech2002]

Nope. Sucks.

[robynnstorey]

I have spent the last 3 days on the phone with PWC.  They have my business classified as stenography services.  I own a high volume executive resume firm.  We work with Fortune 50 leaders and have 85K a week in revenue running through PayPal.  As we are expanding and growing, I wanted to take advantage of PWC but get the 'your industry is not eligible' decline code.  I called, said you have me 'mis-classified' and they said 'typing services' are classified as stenography. I laughed.  We are NOT a typing service, but they would not change the classification to what we really are, which is professional services or consulting.  So, I asked, if this classification was what was keeping me from getting the line, and was told yes.  But they will not change it.  Millions in transactions since working with PayPal for 20 years, millions in fees paid to them.  But I am apparently not a good candidate.  So there you have it.  

[WorldAccess]

I did reach a live person many times and they tell me that due to covid, some industries do not accept applications.  I tried them all and they all say the same.  This maybe a service that Paypal does not offer anymore but do not want to let clients know in fear of clients looking at different merchant solutions that charge less 

[Bamabots]

PPWC declined my request because of a recent HOLD.  The hold was because I took out a sizeable advance to buy another company which dramatically increased my sales. 

If I didn't dramatically increase my sales it would have taken more than 2 years to pay it back.

I paid off $84,000 in 248 days.

Today they won't lend me a ham sandwich but soonthey are going to spam me to death offering over $150k.

Go figure.

[StablerLawnCare]

I have had 4 loans all paid off in full. Due to Covid 19 my business took a hit. So my sales declined on paypal only. However I still paid off my loan early. With it being winter for a lawn guy I needed this to stay afloat. Nope says working capital. I'm not eligible anymore because my customer's chose venmo, cash app and other methods. I think this is unfair. I can prove plenty of income on my linked business bank account.

[Temp20230526CQ]

Same! I sent several feedback messages its total bs. Self employed people did not receive government help until we got to go back to work then it kicked in. I'm disappointed and thinking of switching to square. They do the same thing there

[Ghostmech2002]

Declined as well, after paying off 2 loans early! Gee, thanks PayPoor!!

[Ghostmech2002]

Same here. Still denied 23 days after paying loan off early. Thanks, PayPoor.

[Amanda001]

No its because Paypal themselves are in trouble!!

[Biggajuice]

Hey Guys

I think that most people are experiencing similar results after applying. Let's face it, if you were Paypal, what would you do? 

I don't agree with them leaving everyone in the dark though, however, I can see why they are not lending at the moment. The biggest divide in history is about to happen between Paypal and eBay. On top of this, then we have COVID!   Businesses are going bust everywhere! 

It's damage limitation!!  Paypal is sitting on the fence and planning their next move possibly re-writing the algorithms for lending based on the new eBay payment structure knowing that it is possible that cash advances may take longer to be paid off.

Let's keep doing what we do guys, sell sell sell. stay safe.

All the best