"Managed Payments" have officially screwed sellers from obtaining Paypal Working Capital loans !

[metallicaguitarist]

As many large or long time sellers already know, now that paypal is no longer processing all of our payments, we can no longer get the type of working capital loans that were the most convenient, where they would take a set percentage of each sale at the time of payment, Period, No daily,weekly or monthly sums coming out of the account weather you sold anything or not, it was solely as the items sold, so when you had a good week, so did they, and vice-versa.  I did over 100k of these loans, and also up to about 77k in Paypal "loanbuilder" loans as well, however the loanbuilder loans are a pain in the a** because they take out a set amount on schedule and if you don't have it at the moment, it will OD your account...  When this got brought up with ebay in the past, they just went "Oh but we do loans now too, you can apply", NO !, Ebay doesn't do them, Lending tree and other lenders do them for them, and its no different than if you went to those lenders yourself and applied, and they scrutinize EVERYTHING !,  One of the best things with the paypal working capital loans was that they didnt care if you had debt, how much you had in the bank, what your income was etc, they solely looked at your paypal history and ebay sales and if you had enough money coming in to make the payments, you got the loan, EASY !, However these other lenders that ebay recommends now are like trying to get a loan from a bank, if you owe anyone money, have your taxes on extension and cant show your last report etc, they just shut you out and tell you to come back later !.... Like many other sellers have already said in the past, Ebay's new motto should be "If it ain't broke, we'll break it !", Because the old system was much better as far as things like this are concerned !, And until and unless ebay begins doing these exact same loans THEMSELVES, not through 3rd parties, and does them exactly the same way where it only takes out a percentage of sales as they occur, many sellers will continue to long for the old days when we could get 30k in a pinch with no hassles or hoops to jump through,  and we'll continue to hit ebay with complaints about it til this part of the old system is restored !

[12345jamesstamps]

It's a line of credit for eBay purchases. Like a credit card but no card to show for it. And it is Pay Pal. And one is able to increase their line of credit by a click on a button.

[12345jamesstamps]

Nor talking about Pay Pal credit card which I have....but I also have Pay Pal credit...hooked up...no card and no credit card number only good on eBay purchases. Guess I am one of the lucky ones to have both.

[mam98031]

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@12345jamesstamps wrote:

It's a line of credit for eBay purchases. Like a credit card but no card to show for it. And it is Pay Pal. And one is able to increase their line of credit by a click on a button.

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A Credit Card and a Line of Credit are two completely different things.

Not to be confused when you have money in your PP account and you use that to purchase or pay for something.  

Sometimes a LOC might be able to be increase with the click of a button, but most require an approval process.

[mam98031]

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@12345jamesstamps wrote:

Nor talking about Pay Pal credit card which I have....but I also have Pay Pal credit...hooked up...no card and no credit card number only good on eBay purchases. Guess I am one of the lucky ones to have both.

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You are talking about the Bill Me Later program within PayPal??  That isn't a credit card or LOC.  It is a short term loan backed by a Bank because PP is not a bank.

[metallicaguitarist]

CAN'T !, As mentioned in the post, if your last years taxes are still running on an extension they immediately just say "Sorry can't do it, come back when that's finished", Well guess what, it won't be finished til the end of the year and I needed the load ASAP not in January.

[metallicaguitarist]

Plus you didn't have to have every single one of your "things in order" for bankers etc, these banks and lenders everyone keep mentioning aren't as easy as people make them sound !, they have a dozen excuses, either you dont gross enough, you dont have a high enough balance in your bank acct currently, your taxes for last year arent finished yet, you have too high of a debt to income ratio and more, they look for every thing they can nit-pick and use it !

[inhawaii]

So I guess I'm not being screwed if I have no intentions of taking out a paypal working capitol loan.

[johnson_junk_company]

The risk would be no different today than any other time. Scammers have always been around. The bottom line is the eBay-PayPal split only benefited those two companies shareholders and executives. It did nothing for the people who use their services. 

[mam98031]

It also did not change the services that PayPal offered or Ebay at the time.  Since that time Ebay has taken their Managed Payments site wide in 2020 [5 years after the split] so sellers can no longer use PP as their payment processor on Ebay, they must use MP.  

Buyers however are still free to use PP if they want.

[metallicaguitarist]

And because sellers cant use them as their payment processor, sellers cant get those loans from THEM because THEY aren't processing all their payments for them, hence what I said and the way THOSE loans worked.  Ebay's seller capital loans SUCK, They're 3rd party loans through lending tree or lending point, and they are no different than applying for a loan on your own without ebay existing in the equation, and they nit-pick everything they can and find reasons to not give them to you !, Paypal on the other hand didnt give a crap what your tax situation was, how many other open loans you have at the moment, etc, you could be selling crack on ebay and grossing 10k a day and they would have still said "No problem, you're approved for X-Amount, how much of that would you like right now ?", and it was SIMPLE, ebay only COMPLICATED everything, unnecessarily and there was no NEED for it, the only person benefiting from it is ebay because they get more $$ by not having paypal to process the payments for them...

[mam98031]

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@metallicaguitarist wrote:

And because sellers cant use them as their payment processor, sellers cant get those loans from THEM because THEY aren't processing all their payments for them, hence what I said and the way THOSE loans worked.  Ebay's seller capital loans SUCK, They're 3rd party loans through lending tree or lending point, and they are no different than applying for a loan on your own without ebay existing in the equation, and they nit-pick everything they can and find reasons to not give them to you !, Paypal on the other hand didnt give a crap what your tax situation was, how many other open loans you have at the moment, etc, you could be selling crack on ebay and grossing 10k a day and they would have still said "No problem, you're approved for X-Amount, how much of that would you like right now ?", and it was SIMPLE, ebay only COMPLICATED everything, unnecessarily and there was no NEED for it, the only person benefiting from it is ebay because they get more $$ by not having paypal to process the payments for them...

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OK, Paypal isn't the only game in town.  Ebay offers a similar program.  PP has third party loans too as they are NOT a bank.

[superdon-74]

agreed!!!!

[deltilogical]

It used to be trust but verify.

Now its a trustless environment. 

[toomuchstuffagain35]

It's not even CLOSE to being the same, let alone similar.