Setting an initial gravity/velocity/vector (V2)

Hello all. I'm trying to create an effect as if I was in a racquetball room throwing a rubbery ball against the wall. Essential I want to send the ball towards a vector and have the ball squash and stretch as it bounces off the walls until it comes to rest.

Currently I am feeding a Load value to the GoalObject however this causes the engine to continuously apply the load to my ball intern not allowing it to bounce off the wall. 

Is it possible to apply an initial Load to the object allowing the object to change its magnitude and velocity as it bounces off the walls over time? 

I attached my file with my attempt. Any help would be greatly appreciated.