PayPal working Capital Code DLGJ0656

[tlwaljerlifepoe]

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.

[Okrib]

I don't think it has anything to do with payment methods. Our website takes a payment split of roughly 30% PayPal and 70% debit and credit cards through Stripe and they have previously offered us money without asking us to change anything.

We have taken 2 facilities totalling just under £100,000. The second one of £47,000 we paid off in a month (no overpayments, just from normal sales). And we were going to take another one but they are now saying we're not eligible.

Established business, put £600,000 through PayPal last year and will do approx 3 times that this year.  I think the C-19 situation has made them turn the taps off for lending.

[switch196a]

Maybe.  But thats not what ANY paypal rep has told me.  I have had excuse after excuse but no real answer that makes any sense.  They have pointed out my web address changing (Been the same for all previous loans, it wasnt a problem then), Pointed out that we accept donations (We are a gaming Community, literally always have, wasnt a problem for the previous loans), and there was one more thing i cant remember.  

Had they said "Sorry about that, we don't want to risk it given Covid-19 and all" I would have said Ok, np.  But instead they cite every other "Issue" with the "Algorithm" but that.  This tells me PayPal is afraid to be honest with its customers.  Thats not good for any corporation.  

About the stripe thing...  We Only offered paypal because its not like we bring in 6 figures or anything.  To remain eligible you have to bring in over X amount with paypal.  I was afraid we wouldnt meet the requirements otherwise.  Now it does not matter as we do not qualify anyways, and its not like covid, or the economical effects, is just going to "Go Away" any time soon.  

[Tami64]

We had 2 loans, paid 1 back early we were expanding the business opening a second location with the new WC loan. We had it all planned. (January) so we paid the remaining balance and waited 5 days and applied. Denied, same error code. So we called they said oh, that's because you paid from your linked bank acct not with cleared funds in PayPal. Dont worry, in 10 days you can try again. 10 days later denied. Long story short, STILL denied in July!!! We paid both loans off early. We lost the chance to expand and open our second location as we didn't have the upfront funds we needed. Contacted pp many times and they said it was inconsistencies on the account. (No changes) so basically they just pick and choose what they want to do when! There is no rhyme or reason to it! Very dissatisfied with this. They say it is a computer generated answer and people don't approve you a computer decides! Not a great way to do business