Thank you @Helen any pointers would be helpful we run about 40k a month in credit cards, no disputes or charge backs ever, and only 1 return since Feb

Mine usually varies between 78-81% paid off before I get a new offer. 

Hi @ypalomarez, thanks for your post! You may be eligible for an additional loan offer when your current plan is close to being repaid. For more information about becoming eligible, check out this Support Center article: Becoming Eligible For Another Loan Through Square Capital 

@Regina_B Not true 

What’s not true 

You can pay it off and they probably still won’t give you another one. 

95% paid no new offer. I no longer expect it. If it comes awesome if not that's okay as well. I'm actually kind of excited to not pay the high percentage out of my sales daily! I'll use that money to purchase my inventory monthly and gain $ on my own money without being in debt. But I cant say if they offered me a new capital loan I wouldnt decline....good to hear someone in here actually got one! 

Try to be optimistic! Ive had a total of 5 loans, ALL PAID IN FULL, and yes im awaiting another, and have been frustrated in the past, everyone's situation is different, but postive thinking WINS, one way or the other. I know I'll get another offer, I'll be sure to post here, It's just a matter of time...

Hi @AudraR

I've moved your post over to this existing thread that has a few posts from fellow sellers looking for answers around this as well. 

Check out the Best Answer in this thread and hopefully our Capital team reaches out to you soon!

If you accept the increase, realize that you are paying double fees for the remaining balance in the original loan!  For example, your original loan was $10000 for which they charge a 12% fee, making your payback amount $11200.  Now say you've paid back $7200 of that original amount, so you have a remaining balance of $4000.  Now they offer to increase your loan by another $10000 for which they'll charge 12%.  However, when you accept, they will use the $10000 to pay off the original loan, $10000 - 4000, and deposit $6000.  But they still charge you 12% fee on the $10000.  So you are paying $1200 in fees for a $6000 new money loan, a rate of 20%.

But yes, they've offered to increase after only 34% payback on the original.  But I wait until the original is paid off so I don't pay double fees on any portion.

How did it go? Were you able to get your Capitol?

I was offered to apply for a loan that was half of what I am normally offered. I was declined due to "cash advance activity". Its because I swiped my own debit card to get money from my bank account onto my Square account so I could make a large purchase for inventory with my Square card. I did not know this was against the rules and I am very upset about it. I was looking for ways to use Square for all of my business needs (including debit card) but now I am looking for ways to take care of my business without Square. After several paid loans, and I have been so loyal to them, I find myself in a spot where I can't get a business loan from my bank because I kept all my money in my Square acct. I am very upset about this! 

Wow that’s awful. Their rules has changed a lot since they started with the square capital. It makes it hard for us. 

It really does, especially for the ones that have stayed with square when other companies are cheaper 😞 I've been using them for years and never would have thought that is a rule or against the rules??? 

Yes I have been very loyal even with so many other options out there for invoicing. I am now looking to my bank to possibly use their merchant tools. 

Wow, I am so sorry to hear that:(

I didn't know that was against the rules?????? I don't see why or how it should be? I've been with them years as well:(