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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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I paid off my 3rd loan early as I have all my loans. I tried to apply like normal after the last one, which I paid off early, and it gave me the DLGJ0656 error. I have applied the last two days over and over. I think it might be too soon, but really it's probably because my Paypal business account dropped .18 cents into the negative a few days ago. I immediately fixed it. It was just my error. I think this error is due to the negative. Even though it was only negative a very short time and only .18 cents. Does anyone know how long it takes for the DLGJ0656 to drop off? I missed out on a great equipment deal because of this! I know there is no guarantee and that each time we press the button we roll the dice but I had no reason to believe I would be declined!
I have been on the phone weekly with PayPal with the same issue. Talk to 10 different people, get 10 different answers. They are lying, no one is getting working capital. I’ve had 10 loans, zero issues and was told my business was not eligible. This of course after 10 loans and millions in processing fees. They are over leveraged, only lending money to African American owned business (which I completely support), but that leaves long time customers looking elsewhere for working capital.
Yes, but it was only 75K and I was due to be eligible for 300K. It took nearly 4 months and 10 phone calls, but I got it.