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.
Keep applying but honestly don’t wait on it. They changed a lot of stuff with working capitol. I’ve been with PayPal for 8+years and I make 6 figures. When I got the denial letter of explanation from web bank it said I haven’t been in business long enough. Even though I’ve had 8 previous loans.
That is actually good news that you received that message. That usually means that if you just keep things up for 5 days straight you will get approved.
They told me if most of your sales are through ebay, you wont get another loan as ebay implemented their own payment system, they can no longer take automatic payments from your paypal sales against the loan as they can no longer see them. If most of your business sales aren't through ebay you should get approved. Hope that helps?
That is BS . We are a offline essential business (waste management) , and we are denied for no reason for 5 straight months . Did 100k in sales trough Paypal this year . Denied with the same stupid code over and over . Paypal sucks and we decided to change to Stripe starting next month because Paypal gives 0 **bleep** to help you out !!
