"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 !

[ebooksdiva]

PayPal will not be coming back as eBay’s payment processor.

You can complain all you want. It’s not going to happen. 

[ms.rodriguez*]

Get a loan from a credit union or bank.

[monica-sells]

I completely agree. ..

It was simple, efficient, and really helped get inventory (when an unexpected bargain or opportunity came up) at a moments notice.....

No "hard hits" on my credit report, no back and forth with a worthless suit and tie, like you said, no hassle......

[tobaccocardyahoo]

There are a whole lot of loan programs from non-bank lenders which are changing dramatically in this time of rising interest rates.

Many of the programs which made it easy for online sellers to qualify no longer make it easy.

The PayPal program is gone unless PayPal finds a way for you to pay them which you can manage.

I suggest you shop other non-bank lending programs before you are feeling pinched. You really do not want to have to avail yourself of Vinny's financial services.

We have had a unprecedented period of low interest rates, allowing a whole slew of internet companies to borrow at low cost and take risks which banks and credit unions would never take.

As you probably know, the best deals on loans are to people who do not need the money. Finding a way to stockpile some cash might be appropriate.

[slippinjimmy]

There are thousands of options to borrow money to finance your business, if PayPal no longer works for you then try elsewhere.

FYI - PayPal Working Capital is backed by Webbank which is owned by Steel Partners Holdings L.P., no different really than eBay's program backed by LendingPoint.

[maxine*j]

The eBay - PayPal split is old news, over and done with, by mutual agreement.  If you have a complaint about the consequence of that regarding the PayPal loan deal, take the complaint to PayPal.  As long as you have a PayPal account, you're a PayPal customer and you should take the matter up with them, because eBay is out of the picture.  (In fact, I'm not sure eBay ever was a part, in any way, of the PayPal loan deal.)

-

[12345jamesstamps]

Pay Pal does have an invisible credit card where you can buy items on eBay...only eBay if that helps. It is in the thousands as far as credit but maybe not 77k to start. I have it and use it.

I also have Instant Payments with eBay if I have available funds that come in I can usually withdraw those available funds the next night around 9PM. I do not have to wait days to get the funds. It works great for getting funds on Saturday-Sunday and holidays.

[the-hook-and-the-loop]

You must think we still live in a world with trust. Every business and every person for that matter has put up security around themselves for dealings with anyone. No one can be trusted and every one is a scammer. That is the thinking now. Every one is being recorded(physically, visually, and forensically). Every one owns a business which they make policies which is basically letting everyone make their own laws within their business. Look how difficult it has become to list on eBay without brushing up against some infringement. Do you realize how many hundreds of millions of dollars PayPal would lose if they handed out those easy loans in today's "climate"?

[slippinjimmy]

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@the-hook-and-the-loop wrote:

You must think we still live in a world with trust. Every business and every person for that matter has put up security around themselves for dealings with anyone. No one can be trusted and every one is a scammer. That is the thinking now. Every one is being recorded(physically, visually, and forensically). Every one owns a business which they make policies which is basically letting everyone make their own laws within their business. Look how difficult it has become to list on eBay without brushing up against some infringement. Do you realize how many hundreds of millions of dollars PayPal would lose if they handed out those easy loans in today's "climate"?

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PayPal Working Capital is still a thing, the issue the OP has is that it's based on the activity in your PayPal account which under Managed Payments is ZERO if you are only selling on eBay.

eBay does offer a similar type of lending program

https://pages.ebay.com/sellercapital/

The terms are probably different, that is to be expected, every lender has different terms and conditions and there are hundreds if not thousands to choose from.

[american-photography]

Easy loans to people who couldn't afford them also got the country into a serious financial disaster and put us into recession . . . 

Anyone remember the 2007-08 financial crisis, brought on by too many easy loans and subprime loans???

It's not your money either, so it's a good thing they do check your background and whether you can pay it back or not.

[ga_open_box_llc]

I feel your pain. We had recently considered doing the same type of loan, which was suppose to be only based on over all P&L. I did everything,  turned in what they want, they seen my transaction history. Well, we were denied a micro loan of $5000 to $10000 because 2 out of 4 months didn't have 10k in monthly deposits. Doesn't make sense. Only reason we were wanting the loan was to built business credit. So, I figure, oh well, I'll just move it along and get it done somewhere else. 

[mam98031]

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@12345jamesstamps wrote:

Pay Pal does have an invisible credit card where you can buy items on eBay...only eBay if that helps. It is in the thousands as far as credit but maybe not 77k to start. I have it and use it.

I also have Instant Payments with eBay if I have available funds that come in I can usually withdraw those available funds the next night around 9PM. I do not have to wait days to get the funds. It works great for getting funds on Saturday-Sunday and holidays.

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"Pay Pal does have an invisible credit card..."  What?  What is an "invisible credit card"?  

Are you talking about a line of credit?

PP is not a bank, so any lending money or Credit cards are backed by someone else, an actual bank.

[toomuchstuffagain35]

Possibly talking about PayPal Credit, which just FTR can be used elsewhere as well as ebay.

[ten_o_nine]

I know, I miss that, was so convenient and instant access to cash with reasonable terms. I think eBay will start one soon, they have noses for money.