PayPal Working Capital Reviews - What Is It?
WARNING: DO NOT BUY PayPal Working Capital Until You Read This Review!
Is it a Scam? Does It Really Work?
PayPal Working Capital (PPWC) is a company that provides short-term loans to small businesses that get their payments through PayPal. The company works by taking a percentage of your future PayPal sales, so that your loans are effectively paid back. We have encountered customer reviews from different websites around the web and found out that PayPal Working Capital has both positive and negative ratings. While most people consider PayPal to be an online payments system, we will be focus on PayPal Working Capital in this article. We are going to discuss PayPal payments, the fees associated with a loan, positive and negative features of the company, as well as take a look at the real users' testimonials available online.
Customer Reviews - Does PayPal Working Capital Really Work?
Many customers have given PPWC positive feedback due to the fact that they were pleasantly surprised with the relatively lenient loan requirements and fast loan processing. According to the real loan applicants, PPWC used the applicant's PayPal sales history to prove their good financial status. They had no credit checks. People who gave PayPal Working Capital critical feedback said that when applying for a loan, they faced vague conditions. Some reviews mentioned that their annual percentage rate is higher when compared to other loan providers. The most helpful positive user reviews reported that the PPWC's customer service representatives were very professional to clarify conditions and terms, as well as to answer all questions.
One client called PayPal working capital "a ray of light in a black hole of small business funding". The man says that he applied for his first loan several years ago. He was approved in a few minutes for $8k and was charged a loan fee of $442. The man chose the 10% repay option and managed to pay the loan off in 122 days. According to his words, he made a few manual payments which totaled 13% of his overall loan balance. The man applied for a second loan from the company a few days after the first one cleared. The payments processed through the system within several days to close the loan. The man's second loan was $18k with a 30% repay. He was charged the fees of $967. He paid the loan off in 100 days and at present he is waiting for it to clear. He is going to reapply. The man paid 17% of the balance off with manual payments. Within the last 12 months his PayPal sales have been $239k. the man says that they approved him for more money on his second loan, despite the fact that his sales slowed a bit. The man now wants a larger loan at a decent rate. He used the previous two loans well, but he needs more money due to high natural inventory costs. He wishes to get a 40-60k loan to improve sales significantly. I will keep the community informed.
Another client reports that PayPal Working Capital has been very important to them. The money helped them with inventory. The interest rates are justifiable. The customer says that he doesn't know of any other product that would works as easily and quickly as this company. They deserve the interest for sure. The company is filling in a large gap left by the poor banking system that has made a lot of businesses to fail. The client reports that due to this company his businesses have improved. It does make up the difference. Moreover, the man claims that PayPal made him stay involved. It is responsible for two Americans having great jobs. The customer is happy with his experience and wished the same success to everyone. It is high time to take a look at the real customers' testimonials left online.
"We don't understand why there are so many negative customer reviews about PayPal Working Capital. We have just completed our third loan and are very pleased with the repayment and ease of funding in general. It is not obligatory to pay the balance back within 90 days. There is the only minimum requirement that you need to pay at least 10% of your initial loan amount every 90 days, for the first 540 days. This information can be found in their FAQ online, in their fine print and on your dashboard as a reminder. We do recommend this loan company."
"I saw on my PayPal account that I am eligible for PayPal Working Capital. It can be beneficial for increasing inventory quicker and expanding my product range. I am going to pay the loan quickly and apply for another one and so on. I am interested in some questions. Once paying off the first loan, does the company increase the amount of money you can get? At present, I am offered a maximum, but it comes with a 11% interest fee, where as if I opt for a middle range, I will only have to pay 5% set fee which is very good. In this case, I will be able to pay the whole loan back within a few weeks. My last question. Does the company increase the set fee % on the loans in future?"
"I'm on my 5th loan with PayPal Working Capital and I am quite satisfied with the service. My last loan was for $9000 and my fee was $786, which is reasonable, to my mind, especially taking into account other important benefits like fast funding and no credit check. The loan is paid off depending on sales, so you won't pay as much if your business does not go as well at the moment. This is a good deal. I have never been denied a loan. I heard that some businesses or people were denied based on returns and charge backs. Paypal takes into account different factors to determine risks. I hope this review will help you in making your decision to use Paypal Working Capital or not."
My Final Summary
Summing up everything we have learnt about Paypal Working Capital, it appears to be a great option for people who need money. Filling out the application is a fast and easy process. You can get your money in your account within ten minutes already. Most people who have taken a loan from this company are quite pleased with it. You may be required to pay 10% plus the fee. Usually, the payments are very reasonable. Some clients report that they barely even notice their payments. With many credit issues you may face, there is no way for you to get a loan at such a low cost. Paypal knows credit history of each of their clients and they have certain requirements. The company does not give money to everyone. They give money to small business and won't take money if you don't enough of it. They are taking a percentage of the profit you make, so you can painlessly make your payments. Many clients feel grateful that their money helped them to do some better business and marketing by increasing their sales and income. Taking into account all pros and cons I do recommend Paypal Working Capital.
PayPal Working Capital Pricing and Rates
The company charges a fixed fee based on the repayment percentage you choose, the amount of your loan, and your business' PayPal sales history. Small businesses can qualify for loans equal to 4-5% of their annual sales. The company provides these loans via WebBank they partner with. It has a cap borrowing amount of $85,000. Application takes about five minutes. Funding Time is about one minute after you have been approved. APR at PayPal Working Capital is from 15% to 30% (depending on loan amount). There are no Credit Checks. Deduction from PayPal Sales is from 10% to 30% of daily PayPal sales. You will have to pay back 10% of the loan back every 90 days. It is up to you to decide how much PPWC can deduct from your daily sales. You don't have to pay them when your company has zero sales. Applying for a loan, you will be able to choose a repayment percentage of 10-30% of your daily PayPal sales. If you need money to grow your company or you are starting a new business, you are recommended to go for a 10% repayment rate. If you have a stable company and you want to benefit from the lower one-time fixed fee, you should choose the 30% repayment percentage.