We got turned down for the Working Capital Loan. Got the reason for declined letter in the mail. Then less than a week later, we got an invitiation to apply for the Working Capital Loan. Last time we applied for Marketing. We actually are working on growing the business. Both marketing and merchandising equipment will help us do that. We could go with Marketing, Equipment or Growing our Business and they would all be accurate. I'm just wondering what any of you who got approved for the loan checked as your reason for needing it? Do they even look at what you are using it for and does that play into the equation for approval? Thanks!
Im a little dumb founded, applied for loan (after I got an invite) on feb 5th, got approved immediately for 11k, paid it ALL back on march 19th, basically 5 weeks and went to apply again and got declined, anyone else heard of this happening?
I have been trying since Christmas to get a second loan with the only result being denial. Two different customer reps said they are revamping the program to get more loans through but you know how that goes
What ever you do, do not rely on getting approved. Surely after succefully paid off loans within 4 to 5 months I would qualify for #3, NOPE try applying again and declined! and have no idea why. The reference number was 702 the first time. When I called they said it was do to my sales beging down for September. I thought they averaged the whole year? I guess not. Tried again a week later now getting Reference code 624 I haven't called yet to see what that one means. They did say that I get to many friends and family transfers. I told them that is my other paypal account and me sending money over to pay of the loan faster so I can ge another. There is absolutely NOTHING they can do, it is all allgorithum. The computer is in charge of approvals even if you are a great paying, long time customer.
