Paypal working Capital loan amount decrease

[Bmcdonald]

Hey I'm wondering if anyone has applied for a third or fourth PayPal loan got approved and the amount was significantly lower than your previous loans. I am on my third loan and I paid off the other two and the proper amount of time and even early with my last one the first one was $3,000 and my second one was $6,500 now my third one is $1,000 this is so strange.... any ideas why?? All customer service said is they can't do anything about it and there is over 100 variables that come into play when the amount is determined and basically your history or previous amounts have no bearing which is silly because my sales have increased and no other major influences that I can see that could have affected this...... any insight will help

[Bmcdonald]

WOW!! what in the world!!! mine $6,000 which is still odd because its still not an increase lol!! my highest loan was $6500 and since sales have increased. but maybe not to their liking or pace?!?! i also noticed this time i chose expansion for the reason for the loan and last time i chose inventory. probably doesn't matter but i am trying to make sense out it! this is crazy

[GotitinPDX]

Out of curiousiry what was the fee on your $1000 and now the $6000? My fee on the first $1000 was only $24 and this time was $22. Versus about $780 on the previous $5000. So technically a dramatically lower interest rate. I chose inventory both times, maybe I will try expansion next time.

[Bmcdonald]

The fee is $490 with them taking 30% of sales for this $6000 (wouldn't allow me to choose any lower payback percentage unless i lowered the borrowed amount). my last $1000 was $27 for 10% of sales. Yes when i think about it i never chose inventory before that so its the only noticeable variation. still odd though but we're learning !!! keep me posted on if you choose expansion next time or did you already accept the $1000? i remember they told me i can let the offer expire and try again so let it expire and try again with expansion!!

[GotitinPDX]

I chose the $1000 as I wasn’t into too much of a need for more. Next month I will try expansion though and let you know!

[GotitinPDX]

I just finished the 2nd $1000 that I got in October and reapplied with your advice (expansion rather than inventory). I got approved for $5500 with a fee of $433 and a 30% payback rate. Thank you for the advice on using expansion!

[Bmcdonald]

YAY!!! i wonder what i need to select to get 25% of sales (since they say its up to 25% of sales in the last 12 months) lol because "expansion" is good but its not the max loan!! lololol but we will just be thankful for this progress for now!

[GotitinPDX]

Actually it is now up to 30% but like you they have never offered me that much! I should have this one paid off in late January so it will be interesting to see. Out of curiosity what type of business do you have? Ours is an eBay store. In 2018 we plan to expand.

[Bmcdonald]

Wow!!! 30% yes i will even decline one offer to try all the reasons lol. send me your ebay store link!! see what Iam about on my site <removed>

[GotitinPDX]

We sell preowned clothing, sneakers, etc. you can check it out at <removed>.