Working Capital Not Available - Error DLGJ0260

[HashtagMan]

Paid off my 4th loan early and after a week or two get this error saying it's not currently available to me. Spoke to the WC team who said they can see no problmes and approved for £8.5k and keep applying as they can't see any problem but no change whatsoever. Anyone got any ideas?

[BizIT]

Same problem here for us across multiple paypal accounts (seperate businesses) and having spoken with paypal on multiple occasions we have got no real response from them, infact seemingly nothing more than excuses and mis-leading promises of resolution.  Infact in the last conversation with them I came away from the phone thinking we had done something wrong in requesting a further loan.

Seemingly Paypal have no interest in providing those of us with previously paid loans with further working capital and us often long standing customers of paypal are simply not worthy.

Fundamentally its my eBay and paypal sales which will suffer from this, but paypal are so large now they simply show zero respect for its customers.

[Jinsted]

Same issues - in a nut shell regardless of how well you are doing you have now fallen out of their algorithm and will carry getting that message until you fall back into it

I escalated to Paypal and had someone ring me back - they cannot find any issues as you have simply fallen out of the algorithm 

We are 115% better in sales this year than last but cannot get a new one even though we paid all 3 of ours off well before expectations

Note to paypal - why not devise a calculator that will predict if you will be eligible? i would not have paid mine off early if i knew i wasnt

[Inquesite]

Me too... The customer services agent I spoke with said they're getting loads of calls about this. Is everyone retrying? Are there any success stories yet from people who were getting this 'not eligible' DLGJ0260 code but have now got the working capital loan? I have had 6 loans previously, paid all off early, and never had any problems before. Like others had I known I wouldn't have cleared the last £2k early.

[Jinsted]

I have now been approved - but i did notice that the fee has gone up by about 50% - is this just me or increased across the board?

I have not changed anything on my profile - 

[tallybella]

Hi Jinstead, 

Congrats! not good news about the fees though! How many times did you previously apply and do you recommend we speak to PayPal about it? I spoke to someone about a month ago and they said to retry in a few weeks but it's still coming up with DLGJ0260 error code 😞 

Do you have any suggestions with what we can try? 

Many thanks

[12alp]

Has anyone had any luck getting further loans or is it just me ?

[Dino68]

I really dont understand some of the questions here. PPWC is a way to build business and no matter if you have had 1 or 10 PPWC loans there is not entitlment to the next.  When people say they paid of a loan early in the hope of getting a new one, the thinking is all wrong. The loan has to be repaid back anyway. And should be only be done at a rate (above the agreed %) that the buisness can afford. And not in the hope that a person will get offered a new loan.

I have seen this working in the past in the financial industry. People paying of loans early, hoping expecting they get automaticially accepted for another. It does not work that way. Continual loans can have a negative impact of future ability to borrow. No matter with PPWC or standard issued loans.

I would never fall into the trap of feeling entitled or gambling an early payback in the hope I get accepted again.

We are into our 3rd PPWC loan which has been a great help. And I dont see me as needing to take a 4th. So im paying this 3rd one back at a % above the agreed rate that I am happy with. It has helped greatly to improve business and im happy a day comes when we dont need further funding.

PPWC like any lender have there own critera (much less stringent in my view that traditional lenders ) but with that will come a certain amount of rejected applications.

[bc5]

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@HashtagMan wrote:

Paid off my 4th loan early and after a week or two get this error saying it's not currently available to me. Spoke to the WC team who said they can see no problmes and approved for £8.5k and keep applying as they can't see any problem but no change whatsoever. Anyone got any ideas?

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We have had a PPWC loan and paid it off a couple of years ago now and we have had availability ever since right up to 2 weeks ago when we needed it. So PayPal slogan "there when you need it" is a bit of a joke as far as we are concerned. The good news is there are loads of UK based working captial lenders and we got one in two days from funding circle and much cheaper than the paypal loan with a longer repayment period. We have also previously had an offer from funding exchange but we didn't use it in the end however they are just as competitve. My advice is shop around when paypal isn't lending .