Paypal Working Capital

Lucifer · #1 05-02-2015

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

JamesNorth101 · #2 05-02-2015

Is this a real or stealth account?

taerese · #3 05-02-2015

Quote:

Originally Posted by JamesNorth101

Is this a real or stealth account?

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

Lucifer · #4 05-02-2015

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

Lucifer · #5 05-02-2015

Quote:

Originally Posted by taerese

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

account was fully verified from last yr

JamesNorth101 · #6 05-02-2015

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...

Lucifer · #7 05-02-2015

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

wired · #8 05-02-2015

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

taerese · #9 05-02-2015

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

JamesNorth101 · #10 05-02-2015

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.

Lucifer · #11 05-02-2015

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

Ebayorbust · #12 05-02-2015

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.

wired · #13 05-02-2015

Quote:

Originally Posted by taerese

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

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

comp07974 · #14 05-02-2015

Quote:

Originally Posted by wired

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

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.

wired · #15 05-02-2015

Quote:

Originally Posted by comp07974

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.

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!

yankee · #16 05-02-2015

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

comp07974 · #17 05-02-2015

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

taerese · #18 05-02-2015

Quote:

Originally Posted by wired

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

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.

yankee · #19 05-02-2015

Quote:

Originally Posted by comp07974

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

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.

JamesNorth101 · #20 05-02-2015

We do not really have an equivalent in the UK

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

GreenBean · #21 05-02-2015

Quote:

Originally Posted by yankee

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

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

GreenBean · #22 05-02-2015

Quote:

Originally Posted by Lucifer

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

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.