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Report: #1480389

Complaint Review: PayPal Business Loans - San Jose CA

  • Submitted:
  • Updated:
  • Reported By: Charles — Dayton Ohio United States
  • PayPal Business Loans 2211 N. 1st St. San Jose, CA United States

PayPal Business Loans Highly Suspect "Covert" discrimination and or Intentional information to Deny approval San Jose CA

*Consumer Comment: Nice backtrack....

*Author of original report: Unsolicited Ignorance @ Robert

*Consumer Comment: Your opinion

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 Introduction: I applied for a Solicited "Business loan" from Paypal and was denied for the following TWO reasons:  "Poor personal credit payment history" (Paypal said from "transunion";  I subscribe to Personal/Business Credit monitoring & DO NOT have Poor payment history on my Personal or Business Credit. It's the LITERAL OPPOSITE!!!)  I can produce Documentation to support my good Personal/Business Credit payment histories. 

So I will provide a brief summary of my experience with them and you can go to supermoney. com & other sites and read Plenty of reviews on Paypal Business and MANY recent reviews that will PROVE to be invaluable to you if you're thinking of applying with Paypal Business loans. 

They prequalified me for 25k. They asked for 4 months bank statements. I gave them 12 months. They required a minimum of 42k a year in revenue. I did 100k in the PREVIOUS 6 months alone!!  I have no Business Debt, Deposit on average, either weekly, two weeks and NEVER go ANY MONTHS without depositing a MINIMUM of 10k, I average 16k a month. I have a average personal credit score of nearly 700!  

I can produce my credit report as evidence (my report is CLEAN= No past dues, All paid as agreed, multiple different credit lines, accounts,etc. , ONLY using 23% of Credit available. No collections, No deragotories). On my Experian Business Credit Report, I have a "1" for "liability" factor which means I am "LOW RISK".  Now, these are the FACTS, so you be the judge. Their reasons for denial is literally a "farce"!

 The second reason for denial= "erratic revenues/sales" is BEYOND comprehension! I thought EVERY business in existence have Differing revenue/sales EVERY month?  Again, I have Sales/Revenues deposited either weekly, bi-weekly and AT MINIMUM 10k EVERY SINGLE MONTH since I Founded my business!!!  It's ALL DOCUMENTED FOLKS; I can't make this stuff up!!   Please google Paypal Business loan reviews and you will have PLENTY of reviews that will support what I mentioned here and MANY ARE WAY WORSE than my experience!!  They NEED to be investigated ASAP!!!!!!

This report was posted on Ripoff Report on 06/14/2019 09:15 AM and is a permanent record located here: https://www.ripoffreport.com/report/paypal-business-loans/san-jose-ca-highly-suspect-1480389. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#3 Consumer Comment

Nice backtrack....

AUTHOR: Robert - (United States)

POSTED: Sunday, June 16, 2019

First off, obviously you didn't follow my suggestion of looking into "other" reviews on "PayPal Business Loans". You will find my experience is not "isolated" .
- Those reviews were there BEFORE you applied and didn't seem to be an issue until you were denied, so they have nothing to do with YOUR situation.

So, How can ANY company have a DIFFERENT opinion about ALL of a person's debt being "PAID AS AGREED". That's NOT an opinion, THAT'S FACTS!!
- You seem to have a bit of a problem separating fact from opinion..so let me help you out..
"Paid as Agreed" - Fact
"A good payment history" - Opinion

Thirdly= You stated, "You have not shown any sort of discrimination". I NEVER stated that I WAS discriminated against. I stated "Possible" or "Suspect", those terms denotes me feeling as their "definitions" explain, DOUBTFUL and or QUESTIONABLE. I NEVER took a DEFINITIVE stance on discrimination.
- You put that in the TITLE of your report, not burred deep down in your report. This was one for one reason...to try and sensationalize your report

I said all that to say this, I actually DO NOT NEED THE LOAN!!!
- So you just go around and applying for random credit lines just for the heck of it? I get credit offers on a daily basis, but don't just go applying for them because a bank sends me something.

In conclusion, As you stated, "my opinion" and THIS IS THE ONLY THING YOU WERE RIGHT ABOUT! So let me ask you this...............WHO asked for YOUR Opinion?
- This is a PUBLIC web site and as such the PUBLIC can post as well, Contrary to what you may have wanted or thought...not all opinions may agree with you. So if you really must know it was YOU who asked for my opinion when you posted your report.

The one thing out of this is that by me posting it was shown how you liked to sensationalize your narrative by trying to play the discrimination card. Then when called on it you backtracked basically admitting there really was none...which of course destroyed what ever credibility you may have had(which was spotty to begin with) So how can we believe anything else you stated, which of course everyone else who comes here can now form their OPINION based on this as well.

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#2 Author of original report

Unsolicited Ignorance @ Robert

AUTHOR: Charles - (United States)

POSTED: Saturday, June 15, 2019

Robert,

First off, obviously you didn't follow my suggestion of looking into "other" reviews on "PayPal Business Loans". You will find my experience is not "isolated" .

Regarding my payment history is "my opinion" and Paypal and or other companies have their opinion regarding a good payment history is "fundamentally" flawed at best. You either misread or did not comprehend my post. ALL of my debt ARE "PAID AS AGREED".  That is the FACTS! That LITERALLY means "my payment history" is GOOD. So, How can ANY company have a DIFFERENT opinion about ALL of a person's debt being "PAID AS AGREED".  That's NOT an opinion, THAT'S FACTS!!

So, now let me help you understand=  If YOU paid ALL OF YOUR DEBTS "AS AGREED" and ALL OF YOUR CREDIT REPORTS SHOW YOU AS HAVING A "GOOD PAYMENT HISTORY" and a Company Deny YOU credit in part, because they said you have a "POOR payment history";  You don't see that as being "INCORRECT" AND "FALSE"?  HOW is that "AN OPINION"?  All Debts paid ON TIME and AS AGREED is considered a "GOOD PAYMENT HISTORY" ANYWHERE IN THE WORLD AND TO EVERY COMPANY. You stated "general" principles and FAILED MISERABLY  with comprehending my post and "concern".

Secondly, I AGREE WITH YOU 100% that even a 700 credit score is not that great and is even "average" (btw, one of my scores is OVER 700). HOWEVER, "NEWSFLASH", PayPal Business Loans DOES NOT consider your credit score!  They look at revenue (it's "suppose" to be an extremely simple, quick, STRAIGHT FORWARD process PER Paypal Business, btw). Now, again, you either missed my point or didn't comprehend......I ONLY mentioned my credit score to "prove" that i HAVE A "GOOD PAYMENT HISTORY",  I'm not sure if you're aware that, it would be hard to have 700+ score with a "POOR PAYMENT HISTORY" (remember? they said I had a "poor payment history"). 

Thirdly=  You stated, "You have not shown any sort of discrimination".  I NEVER stated that I WAS discriminated against. I stated "Possible" or "Suspect", those terms denotes me feeling as their "definitions" explain, DOUBTFUL and or QUESTIONABLE. I NEVER took a DEFINITIVE stance on discrimination. 

Lastly, Your tone with your conclusion "suggests" you have taken a "personal" offense with "MY factual experience" with Paypapl Business and your tone "suggests" you hold some type of "bias" for reasons unknown. At any rate, you wanted to know why I don't get money "elsewhere" and why am I "so focused" on Paypal. (You MUST be limited in your comprehension and understanding of the "basics" of life and business) I HAVE gotten business loans elsewhere; Creditors ARE KNOCKING MY DOOR DOWN!!!  I AM NOT SOOOO FOCUSED on PayPal=  Its SIMPLE and YOU'RE making more of it than what it is.........  I simply RESPONDED TO THEIR REQUEST (hint: Paypal Business CAME KNOCKING on MY DOOR/ let me guess=  You missed that too in my post, lol) . I was simply writing about my experience to provide information to  other Businesses  who were thinking of doing business with "Paypal Business Loans".  And the bottom line is this: Paypal Business took an ADVERSE action AGAINST me  based on FALSE INFORMATION!!!  Furthermore, (again, to help you comprehend life and situations= Our reviews, complaints, posts, etc are NOT all EXHAUSTIVE and CANNOT include EVERY little DETAIL and MITIGATING circumstances, nor do they include EXTENSIVE  information regarding Our ENTIRE financial situations).

I said all that to say this, I actually DO NOT NEED THE LOAN!!!   (again, listen closely, im helping you again).  This is ONE way that SOME of us SUCCESSFULL SMALL BUSINESS owners use to BUILD a Relationship with MULTIPLE creditors AND Build good BUSINESS CREDIT.  (I'll stop here, I'm sure you're already overwhelmed, I'll that sink in)

In conclusion,  As you stated, "my opinion" and THIS IS THE ONLY THING YOU WERE RIGHT ABOUT!  So let me ask you this...............WHO asked for YOUR Opinion?

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#1 Consumer Comment

Your opinion

AUTHOR: Robert - (United States)

POSTED: Saturday, June 15, 2019

It is your opinion that you have a good payment history. It may be the opinion of 20 other banks that you have a good payment history.  But it is NOT 20 other banks or your money that you are looking to borrow money from right now. You are looking to borrow Paypal's money.  As such they apparently have different requirements where you may not be qualified.

I have a average personal credit score of nearly 700!
- "nearly 700"? That's actually not that great. In fact if it is a true FICO score it is really only aveage.

They NEED to be investigated ASAP!!!!!!
- Why? You have not shown any sort of discrimination. It's their money. It's their standards.

By the way if you have such a stellar credit history why are you focusing so much on Paypal? Why are you not  obtaining funding elsewhere? After all based on your narrative you should be having creditors knocking down your door just begging you to take their money.

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