I have gotten three previous loans from PayPal working capital. All three loans were paid off before hand and successfully. This time when applying which is my fourth loan I have getting code PayPal working Capital Code DLGJ0656. I have called PayPal working capital two times already getting the same representative telling me the same thing. The rep is telling me that the Acura them can pick up anything from a decline in sales to a spike in sales. I have had a spike in sales in December. I asked him if I had a spike in sales then why is it telling me my business is not eligible. That does not make any sense. I do not think that they should be using an algorithm and an eligible ability should be based on whether you've had a loan or previous loans in the past and whether they were paid off in time. The algorithm is not reliable. I have also heard that PayPal working capital bought out another company in order to disperse more funds but nothing has been done. I have looked on reviews for PayPal working capital also and found that there are several several people that are having the same issues. It does not matter how many times I have applied I still get the same code telling me my business is not eligible. This is absurd! The same wrap from PayPal working capital also told me that it can detect whether or not you put your store on vacation. So this little thing can make a difference when applying for a loan. I don't believe there is any other loan company that works this way. PayPal working capital wonders why they have so many bad reviews but they're not understanding than an algorithm should not determine whether or not you get funds or not. They need to look into this. I would like for someone from the Paypal Working Capital Merchant Services to please help me with this issue. The representative keeps telling me to keep reapplying which I do but I keep getting the same code. Like I said I've had three previous loans a total of $13,000 that I have paid off successfully in ahead of time and now this time I do not qualify or I'm not eligible question mark this makes no sense to me and basing it off in algorithm should not be whether I qualify or not. Getting code PayPal working Capital Code DLGJ0656 over, and over.
Exactly. We have done 7 loans already and have been applying every day for the past 2 months straight and absolutely nothing at all. It's ridiculous that they would do this to loyal, longtime members. More people need to speak on this so we can get this resolved. If we keep on contacting them regarding this sooner or later they are going to realize it's an issue and will be tired of people calling constantly all inquiring about the same thing that they will have to do something about it. Don't give up!
Paypal trying to deleverage, regardless if customers are good or not. They trying to reduce their exposure, by having a blanket boycott on sellers good and bad they will push us to find alternative finance and damage their own business,
the way they have treated customers without True explanation makes us cautious using their facility at all, especially Ebay sellers which will now be given Ebay payment options.
Did they give it back? I just paid the last £1500 so I could get another one and keep getting declined. This is my 3rd loan with no issues so a bit confused I'm getting denied. Its been 6 days too so not the 3 day thing
From my experience, I have gotten the same denial code, but I found some threads that seem to explain it. When you finish a loan and even maybe pay off the remaining balance with a last big manual payment you must wait for about 48 hours to apply for a new one or you will get the decline code. If it pays off normally with sales it seems to be okay to apply for a new one right away. But, if you pay it off with a manual payment, wait for about 48 hours and it should work. Twice I have paid it off early and twice it took about 2 days for the new loan to be approved. Once or twice I let the sales pay off the loan and I could get a new one almost right away. This is just my experience. The threads I read says that all the systems have to clear that the loan is paid or it will decline thinking you still have one going. Again, I have had about 8 or 9 loans and this is my experience with it.
I was advised that the decline was due to change in sales pattern. We had fantastic months all the way up until July 2019. Selling went down due to people on vacation etc. Sales picked back up in September and was encouraged to keep trying to reapply every few days. So basically the system doesnt want to see any type of downward patern in sales.
I received the same denial error message and assume it's because my sales volume is down. I've had 10 prior PayPal Working Capital Loans and have never been in default and have always exceeded my minimum. I just made one large payoff amount less than 24 hours ago and applied after receiving the payoff confirmation email. My sales volume is down intentionally. I sell online information and was having a huge problem with customers reselling my information unauthorized and at 25% or less than what I charge them each month. So, I made the decision to double my prices and decrease my customer volume since dealing with the unauthorized sellers is both time-consuming and costly to my business. I only wish I'd known ahead of time that my chances of being approved again would be low, because I wouldn't have sent in a large payoff.
I am so nervous about this as well. I am thinking of paying off the rest of my loan, I got a $8000 at the end of Sept. and I have it paid down to $2000 really needing new inventory for the new year so thinking of paying if off sales have been pretty consistent, had my best month IN Sept then 2nd best in Novber. SO worried this will be a hit for me if I dont get approved. Were you ever approved?
I’m not sure who you’re asking, but I was not approved. It’s really the typical corporate tunnel vision that we frequently see. In my case my sales volume is down, intentionally, however I raised my prices to more than double what they were. My intent was for my products and services to land in the hands of fewer people to reduce the issue with unauthorized distribution of my IP. In your case sales are up, so one would assume that you would not be denied, but who knows. It seems as if PayPal and WebBank are making up terms as they go. It’s all rather odd. Being denied a loan for me also means fewer planned sales and therefore less revenue for PayPal. Having successfully paid off 10 prior working capital loans and having a PayPal merchant account for the past 10 years longer means anything to PayPal. When loyalty is not reciprocated it’s time to establish other business partnerships. PayPal isn’t exactly the cheapest payment processor around and my international fees are far too high.
