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since ‎Jul-02-2020
Country: United Kingdom
Type: Business
EllieBoop
EllieBoop Contributor
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Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-05-2020 11:12 PM
3 Kudos
‎Aug-05-2020 11:12 PM
3 Kudos
I've not had any decline letters. I'm not actually being declined it's just saying unavailable for my business. Anyway. New theory... How many of you took advantage of the 30 day payment holiday during covid? I did. Didn't really need to but I did. Wonder if that 30 days of no repayments is **bleep** up the algorithm? If so that's an unfair flaw. Perhaps my fault for taking the payment holiday - but hey. It was offered, no strings so I figured why not and my contractor had been affected by covid which meant a delay in one of my product launches so I was affected. Hmm. So who else had a 30 day payment holiday? ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-05-2020 08:10 AM
1 Kudo
‎Aug-05-2020 08:10 AM
1 Kudo
Yeah I'm not going to be able to apply for any credit based loans - I'm applying for a mortgage soon and don't really want the marks on my file.    I guess that's the upside of PayPal Working Capital. No credit check and no complicated repayments etc. Just easy. Downside being it's now a lottery as to whether you can get one! Hey ho. It is what it is. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-05-2020 07:42 AM
1 Kudo
‎Aug-05-2020 07:42 AM
1 Kudo
Welp. I'm still getting a big fat nope. Error 656. It's been 4 days since I last applied and I am still getting declined so there goes that theory. I will try daily now as that doesn't have any impact on my chances according to the rep I spoke to. Oh well. Keep trying I guess. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-04-2020 11:42 AM
2 Kudos
‎Aug-04-2020 11:42 AM
2 Kudos
Sucks if you use eBay then I guess. Things is I don't. I haven't ever used eBay for my business. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-04-2020 10:22 AM
2 Kudos
‎Aug-04-2020 10:22 AM
2 Kudos
6 weeks. Ouch.    I haven't applied since the 1st, I'm waiting until the 5th - giving the 4 days theory a go. I have actually never had the 710 code (it may have shown once) my code is always 656.   I am fairly certain the codes are unrelated as I've seen so many different people state different codes - completely different situations and the same code, the same situation and different codes etc.   I'm not sure the staff know what the codes are either. I understand why they can't reveal this - it's part of their algorithm and to release that information would open the doors to people manipulating it.    However, if they are winding down the program and not offering the loans anymore you would think they would tell people.   My personal opinion is that they've deliberately slowed down the system while they have less staff due to covid and they're lending less money (again, due to covid) and so you just have to hope luck is on your side when you apply. My loan is still showing as "open" but paid. I am almost certain I won't get one until this updates (at least on their system) - whether it will show as closed on mine is another matter because I've seen people get approved when theirs was still showing as open.   Who knows. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-03-2020 12:55 PM
1 Kudo
‎Aug-03-2020 12:55 PM
1 Kudo
Sounds like that could be the reason. People's loans are staying "open" for months after they've been paid off. If what you say is true with them seeing a major delay before sales show up that would be having a big impact on loan applications.    I'm on day 2 of not applying. Hoping to apply on the 5th. Loan is still looking open even though it's been paid off for over a month now. Hopefully we'll all get good news soon. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-01-2020 09:50 AM
1 Kudo
‎Aug-01-2020 09:50 AM
1 Kudo
My business doesn't use eBay at all. Strictly website sales through PayPal. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-01-2020 09:47 AM
1 Kudo
‎Aug-01-2020 09:47 AM
1 Kudo
That's interesting. That's 2 people now who have left it for 4 days and ended up getting one. I'll leave it then and apply in 4 days - that would be the 5th of August and see what happens. I hope to god I get more than 70% less than previous loan!! My first was only £1000. Hoping for more than that this time - with sales up 350+% you'd hope for more. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Aug-01-2020 07:45 AM
1 Kudo
‎Aug-01-2020 07:45 AM
1 Kudo
Well I'm still getting a no. Old loan still hasn't "closed" which I'm assuming is the issue. So frustrating as I need new equipment and it's been more than a month since my last one was paid off now. I wouldn't mind but the first one I had was based on sales that were like 350% less than my sales for the last 5 months. How on earth was my business last year less of a risk than now?! Makes no sense to me. I'll keep trying but I'm doubtful anything will change until the previous loan closes. ... View more

Re: Working capital erorr DLGJ0710

by EllieBoop Contributor in Merchant Products and Services Archives
‎Jul-30-2020 11:24 PM
1 Kudo
‎Jul-30-2020 11:24 PM
1 Kudo
Welp. Big fat nope again this morning. My recent history on my loan is now clear as it's been over a month since I paid off my first one. The loan says it's paid off but still appears "open" if you know what I mean? No apply now button so I've been going through the faq bit. I called PayPal 2 weeks a go to ask if there was a problem and got told the usual spiel of my account is great, sales are up etc. They did say that spikes in sales over the pandemic can cause concern because of the whole lockdown and more people shopping online etc. But my business was growing 350%+ on last year before the pandemic and he did say that so no idea. I'll try again later I guess. Disappointed. ... View more
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