I am small business owner, actually a freelance writer in upstate NY. I was fortunate to take out a working capital loan roughly 18 months ago for $4500. I have not been as fast some of the business owners posts I have read today but I am determined to pay off my loan in the next week in a lump sum. There is $300 left. So I am wondering what are my chances of being approved for a new loan after I wait three day grace period. I know it has been slow to pay back but I have always stayed ahead of the required 10 percent payment every 90 days. On two occasions, I did get a notice of catch up payments those were addressed immediately and none have happened in 90 days. I did have a very slow summer where payments were made every three days or so. Will that influx affect my chances of being approved? I have never had a charge back or dispute with any of my clients. Just basically working and invoicing, getting paid etc. My sales for services rendered are better than when I applied in March 2015. I bring in about $34,000 for the year. I know the new loan will be small compared to most small businesses and the posts of sales I have read today but this first loan has helped me purchase office equipment etc. I guess my main question is: will I be approved after I make that lump sum payment and wait the three days? What do they really look at? Just the annual sales and ability to pay? I feel I have played by all their rules for the life of the loan. Just asking advice before I move forward. Thank you, Kimberlee
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