working capital code DLGJ0906

[strictlystatic]

since the longest time I had been getting another code from the ppwc, I made another post on here regarding the other code and believe it was down to a ebay link to my PayPal ( as in selling on eBay sales channel also) and or they're not lending due to covid 19 which I do respect.

however after being told my account is in great standing and paying back 35k in half the time as the previous im now getting a new code when applying for further capital for xmas sales.

DLGJ0906 

wondered if anyone else is getting this code also? what could it mean ? 

I thought I would make a thread as after searching there is nothing on the community forum.

[DJamesau]

I can see many many people asking what the code DLGJ0906 means..... no one seems to have the answer.

Been with PayPal for my biz for almost a decade and work with PayPal every day, they provide a great service and they are great to work with.

Working Capital is a fantastic service when it works but I agree with everyone, their algorithm needs work. it seems that previous performance with loans has no bearing or influence/help in getting additional loans. For the last 7-8 years I have seen $100k+ Revenue and even when covid hit hard, my revenue remained steady. The first loan I was offered $25k but seeing I was new to WC and I value and respect my relationship with PayPal I was cautious and only took 11k. when I saw the 90 day minimum payment and that I was paying it back at 5x the minimum payment, I realized I should have taken the full 25k.

Since then, I have had 3 loans a total of $29k and my last $7k loan in Feb 2021 was almost paid in full within the first 90 days. 

Since paying the loan in full, June 2021, I have been applying every day for a month and still, no new loan, just the code. DLGJ0906 Does anyone out there know what that code or what any of the codes mean?  Been with PayPal almost 10 years,8 years of 100k+ revenue, 3 successful loans total $29k all paid back super fast. Strong sales despite covid and yet.. I am still denied with code.DLGJ0906

Is there any use calling WC, can they help you get the loan??

Despite being able to handle 10 times more clients, in the last 8 years I have had a strong 100k+ yearly revenue but I haven't been able to grow much beyond that, I have a number of opportunities right now that could see me double or triple my sales, I just need the WC loan to take advantage of these opportunities.  any advice on how often to apply, daily? if calling WC could help? I love, respect and value my PayPal relationship, Working Capital is such a great service, if only they could start re-issuing loans straight away to existing long-term clients. that already has a great loan record..

Wish You All Good Luck Applying - Crossing my fingers that I get approved soon

[Kato719]

Here I’m going to solve this for everyone. Calling will do you no good. This code is basically a covid code. They stopped lending for a long time. I applied everyday for months,like almost a year and got the same code. Finally one day I got approved again. This after 5 loans. Well they’ll start you over to your first loan amount again no matter what your annual is. Our loans were up to 60k at a time before and after they started lending again we started back at 20k even with sales increased. I applied 2 times a day and just one afternoon bam it went through. So one day it will almost took me a year exactly. Now I’m 2 months into the new loan. Hope this helps.

[MasterpieceAV]

Yeah I've been applying daily since may of 2020 had 10 previous loans all paid off in 5 months or less. Doubled my annual processing through PayPal this last year... About a week ago I logged intoy acct and I had a.pop up saying I had been pre-approved for a loan again so I was super stoked like finally then I click the popup go through the application and it still denies me I even have the screenshots in my acct where it shows I was.preapproved before.applying then when I applied it declined me still. So I called support sent them the screenshots and they were like oh yeah sorry we accidentally sent that out to a.bunch of.peoples accts you actually still aren't eligible sorry for.the inconvenience. I give the **bleep** up I was okay with it till I got a.preapproval showing in my acct then they still wouldn't do it so mad...

[UtahDiy]

Quite frankly I'm over it. My sales have remained the same even with covid and this year in tracking to do higher and still given as far as I'm concerned the finger by paypal. I'm looking into a different merchant processor. I feel like if you're not running an Etsy eBay or something shop where you're selling merchandise through their portal that they want nothing to do with you. I use PayPal invoicing for all my clients I'm doing extremely well and I can't get a $500 loan. I'm busy right now but within the next few weeks I'm leaving paypal. They suck

[DJamesau]

Here we go again,

I was finally approved for a $6k loan in August, instead of paying back the minimum 10% in 90 days, I paid back 100% in like 97 days. 

And now it's been a month of applying every day and nothing but that code DLGJ0906

With 100k revenue every year for the last 8+ years, 5 loans all paid back super fast, if the algorithm would look at previous loan history, with 100% of each loan being paid back in just over 90 days they would clearly see that a larger loan is warranted. However, my first loan offer was $25k my last 3 loans were $8k, $7k, $6k. my revenue has only increased, my disputes only decreased and clearly, my loan offers should be increasing.  and now the waiting game again. everyone is very frustrated because they don't take into account previous loan history which should work in your favor. 

and when the criteria they are told is what the algorithm is based on, processing volume, disputes etc.. and when they are in better positions than they were previously when a loan was approved and then they get denied it doesn't make sense.  The only thing that would sort of make sense is the code DLGJ0906 means approved but waiting... and PayPal WC only issues a certain amount of loans at a time which they randomly approve people with this code. I love and respect my relationship with PayPal, I work with PayPal every day. PWC i a great service but they really need to sort this out.. because if you read this thread, its just full of frustration. It could be a much better service if they took into account previous loan history.. there is so much I could be doing if this loan was approved but like everyone else, I am waiting again..and crossing my fingers I get approved soon..

[WildCardBPO]

@DJamesau you said it all perfectly... I did go a bit farther, and I did call and even had a call back from their supervisor in this department. First off they can not contact the engineers for information about the "algorithm". They don't know how or why you get declined and the answer of keep trying just sounds too sad but true... I asked who I can contact in corporate to get this fixed and still have not had a call back nor a person/VP to contact. I think I will just had this over to social media and see if the bad PR about this "service" lights a fire under their collective rears.

I love using PP and I have referred many of my clients and friends to use it... but looking for something better after almost 8 years of loyal service let me know if anyone has options... 

[lena1981]

I honestly think that they are no longer giving loans. I've had 5 loans with them. The past two I got back to back I applied right after my payment cleared and was approved.

The denial letters I'm getting the reasoning doesn't pertain to me. 

And usually, when they offer loans the apply button shows up on your account overview page and it isn't there anymore.

They should just be straightforward and say we are not issuing loans at this time.

I hope they go back to issuing loans soon.

[darthshader]

Keep applying, including at different times. Calling them doesn't help. After 4 months of rejection, I was approved for $18,500, which is the most I have borrowed to date. My sales have gone up, and I hope to only take out one more after this one is paid.

[Jiminanbox]

It's not the fact that I'm being rejected.. it's that they do not tell you why, nothing is clear, everything seems to be pretty much by chance that the algorithm pops for you.. The amount of people that get the run around even with steady sales, steady spending.. Predictable income.. And still getting rejected. I wonder if they have X amount a period the dedicate to this and they are just maxed out.. But again we wouldn't know because computer says no.. With this poxy code and nothing else.. People talking about declined letters, I've never had one and CS are absolutely pointless with this. Its bad for business, the fact you have to jump through unclear hoops for a service that may but probably will not work most of the time is rediculous. As a business owner you can't even think about using this product as a meaningful path to expansion of your business.

[SRTWY]

@Jiminanbox 

Yea, honestly at this point I've just given up, and it's more annoying than anything having them keep advertising the service to me and asking me to reapply.

Whatever; they can run their business how they want.  If they don't want to make money off of me then it's their loss I suppose.  It's just mind boggling how they're going about it.