Actually it is now up to 30% but like you they have never offered me that much! I should have this one paid off in late January so it will be interesting to see. Out of curiosity what type of business do you have? Ours is an eBay store. In 2018 we plan to expand.
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I just finished the 2nd $1000 that I got in October and reapplied with your advice (expansion rather than inventory). I got approved for $5500 with a fee of $433 and a 30% payback rate. Thank you for the advice on using expansion!
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Out of curiousiry what was the fee on your $1000 and now the $6000? My fee on the first $1000 was only $24 and this time was $22. Versus about $780 on the previous $5000. So technically a dramatically lower interest rate. I chose inventory both times, maybe I will try expansion next time.
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Just paid my $1000 loan off (less than 30 days). As soon as the pmt posts I will apply again and let you know the results. I have NO expectation after going from $2000, $2500, $5000 and then down to $1000, with my sales being stronger every time.
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I read a few news stories last week that they were going to be partnering with a different company for the working capital loan, but who knows!
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Interesting - same scenario here. First loan was $2500, second was $5000, and today was $1000. My sales have increased dramatically and are extremely consistent. No dings (returns, charbebacks, etc.). Interesting though the fee for this thousand was only $27 making it dramatically cheaper than the other two. I figure I will turn the inventory and have it paid off in a couple weeks. Just wierd.
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