Very low amount on Working Capital Loan - ideas why?

MinnesotaMAN
Contributor
Contributor

I just paid off my 5th working capital loan and submitted the application for my 6th. The loan offer this time was 1/4th of the typical amount. I'm usually at around $93k and this time I'm at 23k. I use these loans to buy inventory and $23k just isn't going to cut it. My sales have not decreased. I've always paid my loans off early. I took a two week vacation in July so for those two weeks my payments were substantially decreased but quickly got back to normal. I will call them but I'm sure their answer will be something along the lines of '100's of variables determine your loan amount' so I'm just wondering if anyone else has noticed this decreasing trend. I'm going to have to find another funding source which sucks because I really loved the Working Capital program.

 

Thanks,

Michael

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3 REPLIES 3

drshousecalls
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Contributor

Did you ever find out why?  This is my 14th loan.  I normally get 97k and this time was offered 47k.  Not enough to ramp up for Summer.  I called Working Capital and they told me to let this offer expire and reapply.  Extremely nervous about this.

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Redwoodrogers
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Same Thing happen. Just Payed off our 5th Loan. New Offer is Horrible.75% lower. I do Know That last year we were Declined and told to keep Appling. PayPal Lady I spoke to told us That if we have a sale drop in our Sales graph compared to the same quarter last year it will change the outcome off or declined. That was during Covid shutdown. After we spoke to Papal the very next day we received a offer. We bought a new home and took a bit of a break for a month. Still lots of sale but not like normal. So I'm pretty sure our offer low due to That bip in our sales Graph but dam 75% lower that's harsh. I mean we still cleared 15k in sales that month .I suppose just wait a month and Apply again. Good Luck Guys. These Working Capitals have been god sent and have help our company grow. PayPal Capital and PayPal been the heart of our business i sure hope everyone able to get the capital they need.

 

Good Luck Everyone.

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SRTWY
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Contributor

@Redwoodrogers 

 

Why would you resurrect a 3-year-old thread when new PWC threads with the same complaints pop up every single week?

 

Regardless, anyone even getting a PWC loan at all right now is extremely lucky, but for far different reasons than 2-3 years ago (when OP and followup commentator both posted).

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