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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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Hi Guys
we have had 3 previous loans total 36k but now like you guys I am getting the code.
I wonder if the fact that we added an additional payment method on our website for the people who do not like to use paypal for what ever reason. This has resulted in higher sales but I don't think PayPal like it.
I might be wrong but it sounds plausible don't you think.
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I had 2 previous loans, both paid early. I think that might be the issue... I really do. Im not sure they LIKE making more money, faster lol. We meet the sales requirements... No returns or negative account balances. Not in over a year has anyone asked for a refund. Only ever had to do 2 in 5 years. Every time I call I get some other "Thing" that needs corrected on our website or in our account and told it may take up to 30 days for success. What really sucks is that nowhere on their site does it explain this process or tell us what can and cannot be expected. Definitely NOT reliable, and makes me feel that using paypal might have been a mistake. Previous comment was right. GREAT when you dont need it. But when you could really use it... Totally fails with no understandable reason as to why. Just glad they are NOT my only option. I guess someone else gets to make money!!
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Yep.... Here it is in the terms
What behaviours are not permitted for customers of PayPal Working Capital?
Deliberately direct payment volume away from PayPal as a payment method for your business’s sales.
So looks like you can only have PayPal on your site
Shame
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In all honesty its as simple as this. Paypal is a payment processor. If it doesnt stand out, you CAN choose another one 🙂 We Now accept stripe as paypal no longer has advantages if "They no longer offer services to certain industry categories". Fair is fair. They dont support my industry. We no longer use them exclusively. Customer choice 🙂 Sorry PayPal. And as time goes on i'll add other processors. Theres no point in cutting them out 🙂 paypal is still a trusted service for many. But Since offering stripe... I have made more money. That tells me paypal is as much a hindrance to my business as it is an asset. Im kind of glad paypal turned us down for a loan. If they had given it to us, I would not have known better as I probably would have stuck it out exclusively to keep qualifying for more loans. With that no longer being a requirement...
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