Payment loan

Seller asks PayPal to cancel bots refusing their loan

Dear Ina,

I applied for a 4th PayPal Working Capital loan and was very surprised to be turned down after successfully repaying 3 previous loans and having a clean record with PayPal for over 16 years, as many supervisors acknowledged PayPal.

I spent a day and a half on the phone with all kinds of PayPal employees to resolve my denial issue and that’s what I found out.

PayPal Zettle approached me over the phone at the beginning of July this year to use PayPal Zettle as a POS payment processor because they said they are phasing out PayPal Here, which I have been using for 7 years.

I agreed to try it but had not yet installed or used this Zettle product.

A Zettle employee said Zettle imposed a limit on all new Zettle accounts at the end of July. He told me that the limitation was meant as a harmless safeguard to prevent people from closing their PayPal accounts until all of Zettle’s money could be transferred and that couldn’t be a problem for me. obtain a PayPal Working Capital loan.

He put me on hold and came back and told me his supervisor said it was a known issue that Zettle’s limitation was causing a problem in working capital loan applications. The limitation was interpreted as a serious account limitation in the algorithm that determines eligibility for a working capital loan, and this issue caused loan applications to be denied.

Four different PayPal employees told me, after combing through my account for clues about my denial, that Zettle’s limitation was the only thing preventing me from getting a working capital loan. .

I waited two days hoping this issue was resolved and contacted PayPal Working Capital again. Their rep told me that they had no knowledge of this problem as a problem. This means that the folks at Zettle never communicated this problem to Working Capital.

I eventually asked a Paypal Business account supervisor to remove the Zettle limitation from my account and tried to apply for a working capital loan again, but was refused.

A working capital supervisor told me that it would probably take at least 30 days for the working capital algorithm to remove Zettle’s limitation. I asked myself, 30 days from what date?

So after successfully repaying 3 PayPal Working Capital loans, I fell victim to PayPal for agreeing to try a new PayPal product that I haven’t even touched yet. The Working Capital Loans Supervisor told me that nothing can be done to override the algorithm.

I am informing you about this problem, because I cannot be the only one who has had this problem. On this date, I am still refused.

Working Capital said to keep applying until the algorithm stops rejecting my application. As the Business Accounts Supervisor said, “You’re just trying to give us more business. Yes, that was the plan.

Hopefully this explanation may help other people who are having difficulty applying for a PayPal working capital loan.


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