I think it is lottery based now, absolutely no reason you get chosen. On the plus side, better to not become dependent on these loans to grow your business. I love the extra boost to build inventory, but the chunk it takes of incoming sales can be tough too. It breaks down to over 10% plus interest, not bad, but not great. Don't take it personally when you get declined, it's not your fault. Ive used this service for a few years, always was able to renew the same week. When the pandemic hit, that all ended. In my opinion, they shifted gears to lend PPP money. No one will answer why you are denied, they don't know either. It doesn't count against your credit to apply, so do so every day. Good luck, and hang in there everyone!
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