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working capital code DLGJ0906

MasterpieceAV
Contributor

Re: working capital code DLGJ0906

I'm going on 10months applying everyday, so don't feel bad. Just **bleep** me.off cause now I'm back in my slow months so sales will decrease again even though I did 10k plus every month since August and they still wouldn't approve me so now my sales dipped again so no way I'll get approved still s&-t is such garbage.
Kato719
Contributor

Re: working capital code DLGJ0906

So just an update 10 months go by,denied everyday, and we make 22k a month here. So somethings up. Even when you call they can’t figure out why.
darthshader
Contributor

Re: working capital code DLGJ0906

6 loans paid off early. Sales were up last year, and continue to go up. Process over 120,000 yearly, and am at 5 weeks declining with this code. Have even brought my credit score up in the time since starting, not understanding at all why I am now getting rejected.

In my opinion, I think they are just cutting back on funding for PPWC. They are granting PPP loans, which gets them a nice little chunk from the SBA.

Just a guess/opinion. Hang in there, everyone! Hope we can all get past this!

Tags (1)
Okrib
Contributor

Re: working capital code DLGJ0906

You might want to try again. We're UK based and got this error codes (and others) from May onwards last year.

 

2020 we took in £2.25m through PayPal and this year it's on track to be approx £6.5m but they would not offer us anything in the second half of last year. I think they just turned it off. They only offered us £30,000 in Jan, then £60,000 in Feb and now £110,000 so the taps are starting to be turned back on I think.

HRHughes69
Contributor

Re: working capital code DLGJ0906

I have had three loans , and paid each one back EARLY !!! Then I was denied . What is the matter with these folks ?
Does anyone ever read this **bleep** !
They have a problem and if the do not address it , the good and loyal customers will go somewhere else .
UtahDiy
Contributor

Re: working capital code DLGJ0906

I am beyond frustrated with this code. I've had six loans with them paid every one of them back in half the time including one that I got the beginning of March and they have never loaned me again. I have no idea why I am four times what they require they say for income but it's like if you're not running it through an ebay account or Amazon account they are not looking at your revenue and they're treating you like crap
darthshader
Contributor

Re: working capital code DLGJ0906

After being turned down for the last 4 months, I was finally approved. If you haven't applied lately, try now! Good luck, hang in there.
SRTWY
Contributor

Re: working capital code DLGJ0906

Yea, I'm starting to see a few people get approved for what are usually laughably small amounts, but I guess it's something.

 

Personally, we're still being denied daily....going on two months now.  Absolutely zero reason for it; no changes to our business or information, no changes to our sales patterns (slow and steady increase over the last year but nothing beyond that), no unusual spikes or dips, no holds/chargebacks/disputes whatsoever. We're an extremely dependable and stable business; we had one down month in March of 2020 (well over a year ago) during a fairly short-lived COVID shutdown here, and then last November was a little down as well...but that's it.

 

Incredibly frustrating.  Not that they owe it to us by any means, but the lack of transparency is what's really annoying (and frankly a terrible way of doing business).