Working Capital Code DLGJ0738
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Anyone know what this code means when applying for a subsequent working capital loan. I manually paid my 2nd loan off and am hoping it was not a mistake. It was a calculated business decision and I would have never done so if I had any idea there would be an issue with another loan. I applied and was declined. I have paid off 2 loans with no issues.
- Labels:
-
Payments Pro
-
Working Capital
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Same.
I paid off my second Working Capital Loan on December 17 after just 78 days. (And my first loan was paid off in under 30 days.) Then I applied for my third on December 23 and got denied. I've been denied every day since. It's really, really frustrating.
I called the number that's provided on the denial page and talked to a representative. He basically just told me that my "account is in good standing" and that since "there's no credit check involved, I can just keep applying." Well, yeah, okay, but that doesn't help me now or give me any information with which I can plan ahead, does it? I had been counting on having a small WC loan on hand for after Christmas, but now that's been taken off the table for no clear reason.
When you've got multiple WC loans that were paid off early on your account history, there really shouldn't be any question about approval as long as you're still getting reasonably-consistent sales. The purpose of WC is to give you as-needed access to small, low-interest loans that are paid back quickly and conveniently for whenever you might be in a pinch. Thus, it kind of defeats the purpose when you're in a pinch, go to get another WC loan, and get denied for no real reason.
On a side note, the representative I spoke to asked me if I wanted the number for PayPal's actual business loan. The cynic in me wonders whether the Working Capital Loan might just be a tool to get people hooked on the convenience of Working Capital only to then take it away and leave users with no other choice but to take out an actual business loan with higher interest.
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
@DaneAlex Yea I got the same offer to get a PayPal Business loan and I was like "nooooooooope" Nice try though.
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I talked to them on the phone, which really isn't very useful. But they did tell me that 656 and 738 are similar codes having to do with fluctuating or inconsistent sales.
I think I am getting mine because my sales occur at irregular intervals even though by the end of the month the total income is the same. Thing is they have approved me for previous loan. The guy told me after I get more sales to reapply.
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
i must say i was helped a lot by these paypal working capital loans. But for some reason the first 4 loans i was approved right away the 5th one took me a month to get approved tried everyday and then i got only a quarter of the amount i got the other times less even than the 1st loan. Now i'm trying a 6th one, and i'm denied every time. It dosn't make sense i'm thinking maybe paypal dosn't have enough money in this program so they have a stricter algorithm of what to approve, thats the only reason i can think of.
Haven't Found your Answer?
It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.
- Working Capital in Merchant Products and Services Archives
- Xero Reconciliation for PayPal Multiple Currency receipts in Reporting Archives
- What’s working capital like at the moment? in Merchant Products and Services Archives
- Working Capital Loan July 2021 in Merchant Products and Services Archives
- 4th PayPal Working Capital Loan Declined DLGJ0625 in Merchant Products and Services Archives