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refused paypal working capital code DLGJO225 what does this mean

CRAZYFISH01
Contributor

refused paypal working capital code DLGJO225 what does this mean

I have had 9 successful working capital - last year, I had a payment holiday due to lockdown because my business is events & all cancelled. then found other ways to trade & kept paying back & now events started again & have paid back & all on time & the correct amount each month. I am devastated that I have now been turned down - as not eligible - this working capital helps to pay for forthcoming events. Does anyone know what that particular code means ? thank you

4 REPLIES 4
SRTWY
Contributor

Re: refused paypal working capital code DLGJO225 what does this mean

Unfortunately, unless it gave you clarification at denial, no one really knows....customer service included (honestly half the time they just give you guesses).  You might get further clarification via mail in a few days, but even that's hit or miss.

 

This is pretty much the story with PWC lately...either random denials or "industry not eligible" denials.  I've come across dozens and dozens of longtime customers with solid sales and repayment histories being denied for no apparent reason over the last few months, and no one knows why.

 

Personally, we've been denied for a month straight in spite of consistent, steadily increasing sales, meeting all the requirements, having a solid repayment history, and having 4 previous loans over the last 4 years or so that all remained in good standing their entire term.  Customer service is useless, and all they can tell people in the end is to "keep trying daily" as usual.

 

The utter lack of communication and transparency from PWC and WebBank would be hilarious...if it wasn't so sad and frustrating.  They've gone to such great lengths to alienate their entire customer base that one almost wonders if they have no real intention of keeping the program going much longer.

robynnstorey
Contributor

Re: refused paypal working capital code DLGJO225 what does this mean

It is a joke.  I have tried to call and talk to someone at PWC but it is all the same BS I've heard for the past 18 months.  Its the algorithm.  Nothing we can do.  No we don't know what industries they lend to.  No I don't know the amounts.  No, I can't help you.  No, there is no one here that can help you. 

RMS4937
CRAZYFISH01
Contributor

Re: refused paypal working capital code DLGJO225 what does this mean

Just want to post an update on this. I fully paid off the working capital over the bank holiday weekend - this was the first refusal code - after about 3 days the code then changed to DLG JO261    - I had read in previous questions/answers that this could be good news - as it may mean PP looking at lending again. This morning - I was directed to apply again & successful in that I was approved - but it was a third of the amount I had before.  Obviously happy because something is better than nothing & will try to pay this back asap - to then hopefully apply again for the higher amount. I do feel I was penalised because I asked for payment holiday in the first lockdown - plus it may be worth looking at the new EBay seller rules, as I have read posts where there is affecting eligibility. I hardly sell on there - but they have changed the payment system . Also I made sure I deleted any unpaid customer invoices on my account . Good luck everyone, its such a worry - but it does seem this change in code, could be good news for many if you see it happening. 

SRTWY
Contributor

Re: refused paypal working capital code DLGJO225 what does this mean

I'm glad you were able to get something!

 

Codes have changed a few times for us (usually bouncing back and forth between the 602 and 911 codes), but still no dice after nearly a month and a half...so yea.  There's really no reason for it; we've had no significant deviations from normal in sales trends regarding spikes or dips, business overall has been normal for several months, we don't sell on eBay, we've never had any holds or disputes, and the nature of our business means we don't ever have any open/unpaid invoices or anything. Etc.  It's bizarre and frustrating.

 

PWC's big selling point has always been that it's easier to secure a loan from them than it is to get a traditional loan from a bank or whatnot, due to relaxed criteria.  I'm really not so sure that's the case anymore....it's almost harder and it's definitely far more random.  Not to mention the lack of transparency is insane.