PayPal working Capital Code DLGJ0656

tlwaljerlifepoe
Contributor
Contributor

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.

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72 REPLIES 72

jusbeazy
Member
Member

I just paid off my loan ahead of time and with a $200 final payment. I received the email that it was all paid off and even called a rep ahead of time to ask when to apply. They said if I received the message then I should be able to apply right away.  So I applied. Denied. I called back. They told me I made too much money in December. They also said the algo specifically looks at the past 4 months, not 12 as it states in their terms. So, December, is one of the busiest months out of the year, punished me for getting another loan. I applied again today and received the DLG0656 code. Not sure what it means. I'll try again tomorrow morning. It's super frustrating that when your business is starting to scale, they deny you. I do not sell physical products, I am in video production and I do all my billing via Paypal. Not sure what is going on with everything. I shall try again tomorrow. 

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qxpixels
Contributor
Contributor
I’m in the same situation right now, we made 6 figure sales in 2019 and planned to upgrade all our equipment in 2020 and they only offered 9k and I rep-applied then got denied. I’m so frustrated cause everything was going great with all our planning and now we’re held back from making our biggest move. I joined in the working capital because it promised that we can plan better ahead but now I’m getting destroyed by what’s supposed to be helping me get ahead. This is the perfect example of how Ai will turn against human kind. PayPal needs to change this. I have so many stocks from PayPal and to see how they’re moving, not cute at all.
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Michellevo
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Contributor
@jusbeazy Did you ever get approved?
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qxpixels
Contributor
Contributor
I haven’t re applied yet. I’ll try again next week. I’ll keep you updated.
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RonnieG
Contributor
Contributor
Did you re apply? I’m getting the same error code also after paying a loan off early.
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Michellevo
Contributor
Contributor
@jusbeazy were you ever approved? I just paid my loan off and am waiting for the final pay off email. I do similar work as you. I'm in audio production and voiceover. I've had 3 or 4 successful loans. Anxiously awaiting that pay off email
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RonnieG
Contributor
Contributor
Hope you didn’t do a manual pay off that’s an automatic denial. I hope you get re approved.
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Michellevo
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Contributor
@RonnieG I did do a manual pay off. 😞 But I've done manual pay offs in the past and always get approved. As long as it isn't at least 80% of your loan was paid through sales, it should be ok. At least I hope. Yikes. I had a total amount of 8900, I paid the last % 1000 or so manually
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RonnieG
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Contributor
Did you get approved for a new one?
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Michellevo
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Contributor
I'm not sure if you were asking me but in case you were yes I did get approved for a new one.
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