I understand that North Dakota has now become one of three states where Working Capital loans are not available. Does anyone know what prompted this change? I’ve gotten over 800k in WC loans over the years and this change is devastating to my company. I’m looking for more of an answer than “working capital is not currently available in your state.”
... View more
Were you ever able to find out why the change took place? I’ve gotten 16 loans so far with working capital and it was devastating to find out that North Dakota is now one of three states excluded.
... View more
I understand that the 1099 PayPal generates includes sales of goods and services. If I receive a loan, say through Kabbage, and Kabbage sent $10k to my PayPal account would that show up on my 1099?
... View more
In reviewing my yearly financial summary reports I'm noticing a large amount deducted on the final line. It only says "other". $9700 last year, $11,000 the year before and $2,200 this year so far. Not round numbers, I just don't recall the exact amounts at the moment. What is the "other" category comprised of?
... View more
Beginning last Thursday the format of my paid invoice notifications changed (I'm a seller). Now, the e-mail notification of the invoice payment does not clearly show their name. Some of the invoices do, others don't. It's causing a ton of additional clicking and legwork just to fill the order. Is there a reason for this change? Is there a way to change it back?
... View more
I submitted the first part of the Working Capital loan application this morning. There was no "cancel this request" option like there normally is so I simply closed my browser. Now the loan is showing up as being available until July 31st. I'd like to cancel that loan inquiry out so I can submit a new application tomorrow or Monday. Is that possible?
... View more
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
... View more
I just logged in to the app and received the notice that starting April 19th, all instant transfers have a 1% fee. I'm so disappointed. I used that instant transfer option every single day. I suppose if you are transferring $50 or $100 it's not such a big deal, but man, when you start transferring $1,000 or more it adds up. I hope the fee schedule gets reviewed, I'm really going to miss that 30 minute transfer option.
... View more
Did the instant transfer fees changed? I had been charged twenty-five cents per transfer. No biggie. When I went to transfer just now there was a 1% fee. There’s no way I’m paying $10 on a $1,000 transfer. Is this the new fee structure? I’m really bummed. I had loved the instant transfer option.
... View more
I make right around 30k a month in sales from items that I sell in my Facebook group and then invoice for through PayPal. I have a website but I don't do any selling on it. I'm 100% Facebook right now. PayPal has some merchant tools that I'd love to use but it appears that they are available to people that sell via websites and can put a PayPal button directly on their website. For example: is there any way to offer the Installment Plan option (button) without having the button directly on my website? I believe that PayPal Credit also offers a 6 months interest free option for approved credit. But there's nothing I can e-mail to customers that says, "click here to apply"? It would have to be a button on my website? Thanks, Michael
... View more