Paypal Working Capital Loan Fees
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Hello,
Over the last year, I have had two Paypal Working Capital loans, and I am trying to figure out the portion of the loan fees that have been repaid during the fiscal year 2017 for tax expense purposes. I have been looking through the site but I see no way to tease out the portion of the repayments that are actually the loan fees. Two of my loans spanned fiscal years, so I cannot just put the total amount of the fee in as an expense. I need to figure out how to prorate the amounts. Does anyone have an answer to this problem?
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I had the same issue and was told by a rep earlier this year that all of your initial payments go to paying back the "fee" of the working capital loan. My CPA took all of the initial payments on the loan as interest payments until the bal was paid for the fee. If there was a partial payment taken on the final fee payment, she took the portion that was the fee bal and then put the rest into the loan amt.
I was told that we pay the fee up front before anything is applied to the balance.
HOPE THIS HELPS!
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