So I applied for the Paypal Working Capital Loan at the end of February, and I was approved for up to $3,500. I only took out $2,500 to purchase new inventory for my shop. It was amazing!! I was able to purchase new Spring items just in time for the beginning of tourist season (I own a shop in a large tourist town). I was set to repay the loan in 5 months, but I ended up paying it off in the beginning of May, so I only had the loan for 65 days. I went to reapply for a second loan because I would like to make some improvements to the shop, and I was only approved for up to $1,500. Why? This makes no sense to me as a business person since I repaid the larger 1st loan off in 65 days instead of the original 5 months. How was I not offered more the second time around? I decided not to accept the loan at that time, thinking if I waited a bit longer and had more sales under my belt, I would get a higher approval. Except I went to reapply and now I have been denied! What the crap happened?? How did I go from a $3,500 approval, to a $1,500 approval, to a denial??
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