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Working Capital Code DLGJ0738

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Contributor

Re: Working Capital Code DLGJ0738

I was told by a Working Capital CSR to wait til my good time of the year and apply then. So basically, wait til I don't NEED the loan and get one. They called it "planning ahead." lol I mean, I get it, but loans are meant for when you need them, not for when things are going well.

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Contributor

Re: Working Capital Code DLGJ0738

So now my code suddenly changed from 738 to 656. Any ideas why? Still getting denied. 

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New Community Member

Re: Working Capital Code DLGJ0738

I am frustrated with this code.  I was not using Paypal for all my merchant services.  In December, I moved all my cc business to them.  I went from 21k in sales for 2019 to 15k already in 2020 and another 8k in December 2019.

So basically, I am being punished and denied further funds because I am giving MORE of my business to Paypal.

Yeah...that makes a lot of sense!

 

I have had multiple Working capital loans with Paypal for the past 2 years.  I am so frustrated!
I called the Paypal CSR and she made me even more frustrated calling my business seasonal when I explained I turned over all my merchant services to paypal which is why my sales are now exploding...sigh

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Contributor

Re: Working Capital Code DLGJ0738

I finally got approved, although the loan was smaller than I had hoped to get. It is all very mysterious. Constant rejections and then suddenly it goes through. The only thing to do when getting rejected is to keep applying.