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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
| james13v | 09-01-2018 08:32 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by altending360
(Post 940939)
Has anyone tried this on a stealth account with real information?
| " stealth account with real information" |
| @NasterXchange | 09-01-2018 08:51 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by james13v
(Post 940938)
It's your money to do with as you wish.
| ok cool.
What are the requirements to get a such loan? Any idea what Paypal requests or checks? |
| BigCJ | 09-01-2018 09:19 AM |
Re: Working Captial Paypal Loan on Stealth
They make sure the info matches and is real. You cannot get one with stealth. They are not going to just throw money at you without verifying who you are. |
| james13v | 09-01-2018 10:45 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by @MasterNaster
(Post 940948)
ok cool.
What are the requirements to get a such loan? Any idea what Paypal requests or checks?
| The mainly check your sales. But no one is going to be able to tell you everything they check. It's all automatic. |
| dan_ebay | 09-01-2018 11:36 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by james13v
(Post 940926)
paypal working capital interest rates? There ARE no interest rates, so you're already wrong in that regard. There is a one time fee. So the only way to calculate any "interest rate" from that, would be at the end of the loan, once you can tally how many months it took you to pay off the loan. The way I've worked the loan, it costs me about 5% interest per year. Oh the humanity :pound:
If you pay the loan off quickly, that means you're sales were up. Would they have been up if you didn't get the quick loan? Sure, it can cost more, but think about what you're getting. A very fast loan, without dealing with all the bank stuff, and it not going on your credit, nor costs you any late fees. You only have to pay off 10% of it every quarter.
So you really want to complain about interest rates, when a normal loan of any kind, would have many more drawbacks? Slow sales for a few months, and you can't pay 3 months of loan payments? Woops, there goes your credit, and there goes any low interest you might have had.
People give paypal capital loans so much ****, but it's not for everyone. People only complain, because they took the loan out for the wrong reasons, and have no idea what they are doing. Then they blame the loan for their own incompetence and ineptitude.
| Certainly wasn't 5% per annum the last time I looked, I think it was more like 20% on average.
I realize they don't publish an interest rate but you can estimate it from your sales.
Pretty sure they have it in their t&cs that they can demand the money back sooner if your sales go to shti also.
I'd just use a credit card if I wanted a 'very fast loan' and pay 0%.
edit: How exactly did you calculate a 5% per annum interest rate? After a quick look that looks to be impossible, certainly not if your sales increase. |
| james13v | 09-01-2018 12:06 PM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by dan_ebay
(Post 941012)
Certainly wasn't 5% per annum the last time I looked, I think it was more like 20% on average.
I realize they don't publish an interest rate but you can estimate it from your sales.
Pretty sure they have it in their t&cs that they can demand the money back sooner if your sales go to shti also.
I'd just use a credit card if I wanted a 'very fast loan' and pay 0%.
edit: How exactly did you calculate a 5% per annum interest rate? After a quick look that looks to be impossible, certainly not if your sales increase.
| Sure as **** not going to tell anyone my secret here lol. But yes, it's 5% for me. Based on how long it takes to pay it off and what the one time fee is and loan amount. There are calculators that will tell you want the annual interest rate is based on those three factors.
And like I said, the TOS says that you need to repay 10% of the loan per quarter.
Again, it's not that they don't publish interest rates. It's that there ARE no interest rates. These are standard loans or credit cards. It's a one time fee, no matter how long it takes to pay it off. A normal loan, the longer you pay it off, the MORE interest you pay. Here, the faster you pay it off, the more interest you pay. If you have so many sales, that you pay it off in a month, than, well, you're paying a lot of interest. If it takes you a couple years, then you're not.
The whole point of the loan, is for capital. Whatever you use the money for, should make you more money. So you should be happy you're paying it off quick, because that means you're sales jumped up
People really need to stop comparing this to a standard interest loan. It's not the same. At all. This is a quick, almost no questions asked loan, that doesn't hurt your credit, and doesn't require you to pay a set amount every month, or be screwed. Only 10% per quarter. So if you borrow $6000 and the fee is $1000, all you need to do is come up with about $230 a month and you will have no issues. |
| dan_ebay | 09-02-2018 01:58 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by james13v
(Post 941014)
Sure as **** not going to tell anyone my secret here lol. But yes, it's 5% for me. Based on how long it takes to pay it off and what the one time fee is and loan amount. There are calculators that will tell you want the annual interest rate is based on those three factors.
And like I said, the TOS says that you need to repay 10% of the loan per quarter.
Again, it's not that they don't publish interest rates. It's that there ARE no interest rates. These are standard loans or credit cards. It's a one time fee, no matter how long it takes to pay it off. A normal loan, the longer you pay it off, the MORE interest you pay. Here, the faster you pay it off, the more interest you pay. If you have so many sales, that you pay it off in a month, than, well, you're paying a lot of interest. If it takes you a couple years, then you're not.
The whole point of the loan, is for capital. Whatever you use the money for, should make you more money. So you should be happy you're paying it off quick, because that means you're sales jumped up
People really need to stop comparing this to a standard interest loan. It's not the same. At all. This is a quick, almost no questions asked loan, that doesn't hurt your credit, and doesn't require you to pay a set amount every month, or be screwed. Only 10% per quarter. So if you borrow $6000 and the fee is $1000, all you need to do is come up with about $230 a month and you will have no issues.
| Well it's not 5% for everyone else.
It's a one time fee but you can still estimate an interest rate, once the loan is complete you can easily calculate exactly what the interest rate was, so in real terms there is an interest rate.
As I said, if I wanted a short term loan for more stock I'd just use a credit card and pay 0% interest. |
| james13v | 09-02-2018 01:42 PM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by dan_ebay
(Post 941124)
Well it's not 5% for everyone else.
It's a one time fee but you can still estimate an interest rate, once the loan is complete you can easily calculate exactly what the interest rate was, so in real terms there is an interest rate.
As I said, if I wanted a short term loan for more stock I'd just use a credit card and pay 0% interest.
| Again, you have access to a credit card with 0% interest that has a high enough limit for inventory. Not everyone does.
So to quote you " well, it's not 0% for everyone else".
So much **** is given to paypal capital loans, but it serves it's purpose and it serves it well.
Have fun tho, paying that credit card, if something happens to you or your account for a couple months. They want their money every month, and you better pay up. If you manage to not miss any minimum payments, have fun when your loan payment balloons once the actual interest starts to kick in.
If something like that DOES NOT hurt you, then you clearly weren't in need of borrowing capital in the first place. |
| Lucynda | 09-05-2018 12:06 PM |
Re: Working Captial Paypal Loan on Stealth
I think mine was a 1 time fee and then 20% of each sale i make. I've paid off over a thousand of it already. It would be nice to get this on my other stealth account also. I don't have a DUNS with my LLC's but I think getting one is free. It might be worth a try. |
| FireInTheHole | 08-08-2019 07:36 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by Groov1r
(Post 1024968)
Bro better no need to take money from ppal because you will have problems with them in feature better lend money from somebody or you can do like I did. I took a loan from CheckSmart online, it is a company that gives you loan online and you can return it with lower percents than it is in banks. You will be surprised how advantageous is that and you don't have to return that much. I think you understood what I wanted to say.
| Best interest rates in banks dude |
| james13v | 08-08-2019 08:59 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by FireInTheHole
(Post 1024969)
Best interest rates in banks dude
| yeah because banks are all about loaning out low interest rate business loans. Totally not hard. At all. yep. |
| james13v | 08-08-2019 08:59 AM |
Re: Working Captial Paypal Loan on Stealth
Quote:
Originally Posted by Groov1r
(Post 1024968)
Bro better no need to take money from ppal because you will have problems with them in feature better lend money from somebody or you can do like I did. I took a loan from CheckSmart online, it is a company that gives you loan online and you can return it with lower percents than it is in banks. You will be surprised how advantageous is that and you don't have to return that much. I think you understood what I wanted to say.
| I understood what you said, yet it didn't actually make sense |
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