When is it possible to apply for a new quickbooks capital loan after your first one is paid off?

Allow me to share a few information about QuickBooks Capital loan and guide you on when to apply for a new one, billing88.

QuickBooks customers can only have one active loan. You can apply for another loan after you've paid off the original one.  While we can’t guarantee you’ll be eligible for a new loan, most customers who have paid off their first loan have another chance of being approved for a second loan. You'll want to reach out to our support team to double-check your eligibility and guide you in your second loan application. I've added this article for more information: Questions About Funding With QuickBooks Capital.

In addition, you can go through these articles if you have any questions about QuickBooks Online: Recommended and Most Viewed Articles.

Reach out to us if you have any concerns about Capital loans. We'll always be right here to help. 

It has been two months since I have paid off my small loan. I would like to apply for a new one but my paid loan still shows active on quickbooks and I see no option to apply for a new one. I have called support team but he mentioned that it is just unknown for when my paid loan will be cleared off. Is there anything else I can do ?

I'm here to share some information that can help you with applying for a new loan, @evergreengrowersinc99.

You can only have one active loan outstanding per business at a time. If you've paid the loan already, I suggest checking with the QuickBooks Capital Loan Servicing team to verify your current loan in a secure environment and help you process a new one. 

You can get their phone number from the QuickBooks Capital homepage, under the Payment History section or from the first page of the loan agreement under the Lender information. They're available from Monday to Friday: 6:00 AM – 6:00 PM Pacific Time. For more information about business loans provided by QuickBooks Capital and if you're eligible for a second loan, check out this article: What is QuickBooks Capital.

Here's also how to check your loan documents if you want to view, download, and print those documents: QBC: Where can I find my QuickBooks Capital loan documents?.

Let me know if you need further information about applying for a new QuickBooks Capital loan. I'm always here to answer them for you. Have a great rest of the day!

I don't find this helpful as I am dealing with this same thing. Paid off the loan more then a month ago. I get a message in my QuickBooks capital tab that shows "Nice! You've paid off this loan!" Called QuickBooks and spoke to different people with answers like.

-You have to wait 30 days after its paid off for it to refresh and give an option to re-apply.

-We don't have control over when your next offer will be available

-QuickBooks uses an algorithm to offer their users a capital loan.

So at this point it seems like I just have to wait if when they will offer a capital loan again. If anyone knows any other ways around to applying, will be appreciated.

Thanks!

were you able to reapply? 

were you able to reapply? 

were you able to apply for second loan? 

No, till this day I have not received an email allowing me to reapply for a new loan. It's been a year and my company sales doubled more than what it was making when I was offered my first loan. At this point I don't know what else quickbooks goes based off of. Probably like a lotto system just chooses randomly who gets to apply for a loan. 

Have you tried to talk to a manager to get it escalated? Or tried to get transferred to merchant services to see exactly what the problem is. I would imagine that you probably have to have someone to manually fix an error within your quickbooks account in order for the algorithm to recognize it.

we have the same issue....it should just auto allow another application (would drive consistent interest opportunity)

this does not really address the question or problem

Yea it finally generated. After like 2 weeks from previous payoff, if I’m not mistaken.

I see the relevance to possibly applying for a new QuickBooks Capital Loan after the prior payoff has been paid, tayd.

With QuickBooks, company owners or customers like you can only have one active loan per business. While we can't guarantee your eligibility to automatically apply for a new loan, it's best to reach out to our QuickBooks Capital Loan Servicing team to have your application verified and further assess your in processing of a new one. They're always available to assist you, Monday to Friday, from 6:00 AM to 6:00 PM Pacific Time.

That said, you may also want to browse through this guide for more detailed information about business loans and how it can further help you: Questions About Funding With QuickBooks Capital.

Moreover, I'm sharing this reference to help you track and review your loan history and documents: Find your QuickBooks Capital Loan documents.

I'll leave this thread available for any additional queries when managing loan applications in QuickBooks. Let me know anytime, and I'll make sure to provide further help. Stay safe and have a good one!