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Working Captial Paypal Loan on Stealth
 

I've seen other threads posted about payp credit, but I was wondering if anyone has tried the paypal working capital loan? Please look into it before commenting- it states no credit check and you pay back the loan as you make sales. Now I know people have said taking a loan in a false name is fraud, but my paypal is a business paypal connected to my LLC. The LLC isn't ⊗⊗⊗⊗ so couldn't I use this new loan theyre offering? Any insight would be appreciated.

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Re: Working Captial Paypal Loan on Stealth
 

If you are getting the loan via your LLC I don't see why it couldn't work.

Re: Working Captial Paypal Loan on Stealth
 

That's what I was thinking, don't really need to but I've been curious about it as I know some people who aren't stealth and have recommended it.

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Re: Working Captial Paypal Loan on Stealth
 

I can't imagine this would work out well.

Would YOU loan money over the internet to somebody you don't know without checking them out at all? Does your LLC have a DUNS number?

Most small corporate lenders want an individual guarantor, meaning a 'natural' person so the creditor doesn't have to 'piece the corporate veil', because people hide behind a corp so they don't have to repay debts.

I think even the most superficial digging will turn up irregularities, and most stealth accounts are irregular by virtue of their existence.

I do know people on here have tried to get a PP debit card and have instantly been shut down, and you can't even spend anything that isn't in the PP account with a debit card.

But I am curious, if you do it please report back either way.

Re: Working Captial Paypal Loan on Stealth
 

I agree, after reading through the terms and conditions I've decided not to attempt. I dont need the loan anyway though I AM curious how it would turn out... I just don't want to kill off a stealth account for the sake of curiosity

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Re: Working Captial Paypal Loan on Stealth
 

you can go ahead and not have any worry about being denied effecting your paypal. What are you going to put under YOUR personal information and SS number requirement after the business information page?

That is your hangup. It is the same hangup as the paypal debit card in a corporation.

Re: Working Captial Paypal Loan on Stealth
 

I don't think the denial would hurt, it's what they dig up that causes the denial that would cause the problem.

Re: Working Captial Paypal Loan on Stealth
 

I just paid mine off today. My ebay stealth is in someones name, my paypal is in my brothers name ( i pay him monthly for use lol )
they only asked me to enter my name, social, birthday, and address.
i was approved for 1500 and they take funds out daily of your sales.
they took 25% of mine.
I paid mine off today, i got an email saying i can reapply in as soon as 3 days.

Re: Working Captial Paypal Loan on Stealth
 

Update, I paid mine off yesterday. This morning I got an email saying I could reapply. i Did it doubled. My first loan was 1500 , took less than 2 months to pay back. ( i didnt realize I could make addl payments ).
Now, I will say they take 25% of ALL payments. I send bags of clothes into thread up, I had a friend pay me back - ANY payment they keep 25% of.
I applied this morning, I was approved for 3000. I had 2 options for repayment either repay 25% or repay 30% of each sale. if you pick the 30% of each sale your " one time loan document fee" was cheaper.
It seems like if I picked 30% the one time fee was 287.00 and the 25% one time fee was 330.00
Also, remember your loan is based on previous sales. So your loan maybe more than mine.
Also, paypal loans do not discriminate, meaning since I offer free shipping , they dont just take 30% loan off the item they take it off the whole sale price including shipping lol.

Re: Working Captial Paypal Loan on Stealth
 

wait wait. You're paying someone to use their paypal? Why would you do that? That makes no sense at all.

Re: Working Captial Paypal Loan on Stealth
 

Let's be honest, people do a lot of sh*t on this forum that makes no sense.....

Re: Working Captial Paypal Loan on Stealth
 

Seems weird why it not work ever you use LLC. Does your LLC have a DUNS ?.and its your personal account or business account ?

Re: Working Captial Paypal Loan on Stealth
 

just curious how it made sense to HIM tho lol. I'd really like to know the reasoning :D

Re: Working Captial Paypal Loan on Stealth
 

Somebody let you tie an unsecured loan to their SSN?

That's Cray-cray!!!

Re: Working Captial Paypal Loan on Stealth
 

I still want to know tho....

Re: Working Captial Paypal Loan on Stealth
 

I tried it with my LLC and they wanted a social.

Re: Working Captial Paypal Loan on Stealth
 

I do have one through my account with real information on it. I took out 6k to give me a cushion through my slow season. I've had the loan for 40 days and already paid back 1000 dollars through my sales. If I don't manage to save up a cushion next busy season I may do it again.

Re: Working Captial Paypal Loan on Stealth
 

You'll be in all sorts of **** if you put any ⊗⊗⊗⊗ details and can't repay it. The interest rates are too high anyway.

Re: Working Captial Paypal Loan on Stealth
 

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.

Re: Working Captial Paypal Loan on Stealth
 

My question might be maybe off-topic but it's regarding paypal capital loans.
Once you got this capital, are they any limitations on how you can spend this money? can you use it to pay an invoice you have received? can you send it as manual payment for a service to an other paypal user? Or you can only use it to "shop" online, like buying stuff on ebay?
Thanks for your answers guys.

Re: Working Captial Paypal Loan on Stealth
 

It's your money to do with as you wish.

Re: Working Captial Paypal Loan on Stealth
 

Has anyone tried this on a stealth account with real information?