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Paypal Working Capital
 

Got email from 1 of the acc pp saying your eligible to apply for paypal working capital. Has anyone received same email? Thanks

Re: Paypal Working Capital
 

Is this a real or stealth account?

Re: Paypal Working Capital
 

James, does it matter if its a stealth account? I suppose they wont ask you to provide an additional document as long as it is a fully verified stealth account. Maybe like a sort of click to opt in process. Just my thinking though

Re: Paypal Working Capital
 

stealth.in email its saying "there is no interest" bla bla. but that is not a spoof email.

Re: Paypal Working Capital
 

account was fully verified from last yr

Re: Paypal Working Capital
 

Without reading into it in detail I would assume a credit check will be required since it sounds like a loan to me. You do not want to apply for a loan in stealth details for obvious reasons...

Re: Paypal Working Capital
 

Has anyone received similar email? it says 'Applying for paypal working capital will not affect your business or personal credit score'

Re: Paypal Working Capital
 

I agree with James, even though it may not affect your personal credit score, PP are not going to just loan big sums of cash without doing further security checks on the person applying for it, in the form of a credit check which is the easiest to do as they work directly with Expedia and other agencies (as per PayPal agreement Dec 2014)

Remember,they used these third party agencies to detect Stealth accounts in standard manual review/merchant reviews, so I would really feel by doing this, you will be flagging up your account yourself.

But hey give it a go, and report back so we get some info :)

Re: Paypal Working Capital
 

No.. I doubt if a credit check, hard or soft will be required. Based on what I read last year about PayPal loan. I suppose you would have have a long history of capital flow in your PayPal account from your business and the maximum load they will offer you will only be like 20% of the total average of your capital flow over a specific period. Maybe something like a £500 loan to someone with average capital flow of £5000 (Monthly) in their PayPal account and I dont see much risk since your data is shared btw ebay/payPal anyway.

They are trying to corner businesses like Kabbage which offers loan to ebay sellers. I am not sure those companies do credit checks either.

I might as well be wrong, but this is my observation of the whole thing

Re: Paypal Working Capital
 

It is a very very bad idea to apply for any sort of credit or loan in details other than your own regardless of if there is a credit check or not.

Re: Paypal Working Capital
 

Mine is just over a year old acc and it just moved from bellow std to above avarage.lol

Re: Paypal Working Capital
 

Using a stealth name to operate an account is one thing but borrowing money under a false name would be viewed as some form of fraud / deception.

Re: Paypal Working Capital
 

I think you are wrong buddy.

Not even a bank would lend you money without doing further checks, especially not one you have only banked with for a year. You are forgetting your details are not real as well.

Plus as mentioned, technically it is fraud, and PP will have systems to check and deal with this.

I like your wishful thinking though:thumb:

Re: Paypal Working Capital
 

Hi, he is not wrong at all. I have spoken to paypal on the phone regarding this offer and it is basically a trust loan. No applications or defaults etc are reported to credit agencies and it is basically paypal being a loan shark to cut a story short.

Re: Paypal Working Capital
 

I wouldn't believe all what PAyPal tell you on the phone, this is one thing we have all known for sure for a long long time.

A loan shark does not lend money to a phake person and niether will PayPal.

But hey, give it a go, let us know what happens!:thumb:

Re: Paypal Working Capital
 

You need an SS and it is not a loan but an advance per say. No credit check required.

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proof is in there terms and conditions for the capital loan. I had a lawyer read over them and it is as i put in my previous post. Just a capital loan based on trust

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While I am not advising that a stealth account should do this. I am thinking that it would be possible for a solid stealth account to do.

Your perception is that, you are a stealth account, you are ⊗⊗⊗⊗, your details are not genuine BUT PayPal is not viewing you as such, otherwise you would not have been able to operate a PayPal account under a false name, you would not have been able to withdraw tens of thousands of pounds from PayPal if they have any IOTA of doubt that you are not who you claim you are.

There might be manual random checks at some point in future but still I dont believe it wont be possible for a lot of stealth to use this feature. Its less risk to PayPal anyway.

Re: Paypal Working Capital
 

Exactly but it is an advance based of future receivables, at least in the USA.
There is a HUGE difference as for liability but for all general purposes in this thread it is a loan.

to answer the question about stealth, 100% REAL and VERIFIED personal details are required in the USA including Social Security number and I can only assume the equivalent is required in the UK.

Re: Paypal Working Capital
 

We do not really have an equivalent in the UK

We have an NI number, but that is very rarely requested.

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It's a UK question though..... check the flag

:boink:

Re: Paypal Working Capital
 

Back in 2013, Forbes magazine wrote an article on this....

Would You Borrow From PayPal? PayPal's New Small Business Loans *Updated* - Forbes


Other issue is if this in anyway has anything to do with KABBAGE.... that can be fatal for accounts.

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That kabbage.com has huge usury fees

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I know what you are saying, but I really do not believe they will start loaning out money without doing further checks. It would be complete stupidity for one, and they have invested huge amounts into fraud detection that there is no way this idea has slipped past the boardroom meeting about security regarding loaning out their money.

Withdrawing money from sales is one thing...but withdrawing advance money, nah not a chance.

But as I said, hopefully someone will give it a go and report back. I might run off to Tibet one day and stopped selling on ebay, ill remember to do a PayPAl capital loan before I go just to make sure I have £20k in my account that ill never have to pay back :)

Re: Paypal Working Capital
 

I've just got this on my legit account, they don't credit check you. As others have said though I wouldn't get it in a ⊗⊗⊗⊗ name unless you're 100% sure you can pay it back. Imagine it would be fairly serious fraud.

The fees are high also, they base on your average sales volume over the last year too so if you're sales are growing fast or you've sold for less than a year it will work out ridiculously expensive.

Re: Paypal Working Capital
 

You work at Paypal? Wish you had said, some insider information would be ace! :)

Re: Paypal Working Capital
 

Not had time to read through all comments but just to let everyone know there are no credit checks involved. The loan they offer you goes off your paypal sales history in the past 12 months. Then the loan is paid off each order you make rather than a set monthly amount, you have the option before the loan to choose 10%, 15%, 20%, 30%. So for example I choose 15% so each sale i make 15% of the total of that sale is paid back to the loan. If one day you have no sales, there is nothing to pay. If you have lots of sales then you pay 15% on each sale made from that day. It's took from your paypal balance ant the end of each next working day. I borrowed £6000 on my 1st one and it was only £400 interest. But the profit i made from the extra £6000 of stock and more sales helped me out and paid it off faster and end of it im better off as stock levels are a lot higher. Last week I got another one they offered my £17,500 this time, after this one is paid off I should have enough stock to grow my business without the getting another. great idea by paypal to be honest but will work for some and not for others, you have to make sure you have a good profit margin mine is 25% so I could afford to pay 15% to the loan and manage on a 10% profit margin until it was paid off

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Lets hope the product doesn't go stone cold over night, otherwise there's a lot to pay back.

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Lol, maybe they wont actually limit you if you have a loan out, not in their interests to take away your ebay business when they realise you don't exist and you owe them £6000 :)

Dazzler - you have been operating these loans on a stealth account?

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Interesting potential if yes

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Good job i don't just sell the one product then. Otherwise yes very risky and don't think i would of even been offered an loan in the first place.

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yes my account is stealth. nearly 2 years old.

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That's really good I'd definitely take a loan for £6000 and only £400 interest, and I like how they take a percentage of sales each day, to me this is a no brainier considering there's no credit check and the interest is great

Do they deposit the loan into your available PayPal funds?

Also is there something buried in the fine print saying If your eBay account gets suspended or restricted than you need to pay the remainder of the loan balance off immediately or something??

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Today's Update: I have applied for that loan and its approved. Amount is not that great but its perfectly alright for me.

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This subject I think brings wandering eyes. I personally am saying avoid at all costs unless the account is in your name.

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And you are spot on.

Borrowing money under a false name is fraud / deception and there are no "grey areas".

Re: Paypal Working Capital
 

This is a VERY bad idea