Direct Deposit and Loans

Shoreline · ‎08-17-2018

I started using direct deposit daily after my 2nd Capital loan. I use direct deposit daily, i love it. Now I'm at 83% paid on my last loan, always way ahead, business has doubled. I am curious to know if using direct deposit effects the software Square uses to determine loans? I have not been offered my 3rd loan yet.

AmyAdams78 · ‎08-18-2018

I have been with square for several years.. I am at 81% being paid at my 5th loan.. All other loans were renewed at 65-75%. I check my dashboard daily. Process cards daily.. and do instant deposit. We are waiting patiently as well for a renewal. but I haven't seen on any threads where anyone has had one in the last few months from square... They do not OWE me a renewal, but it is always nice to have a little extra capital to buy new equipment with.. Good Luck

Regina_B · ‎08-20-2018

Hi @Shoreline! Thank you for your post! I just want to clarify that direct deposit does not hinder your eligibility for Square Capital. For more info about eligibility, check out this Support Center article: Square Capital Loan Eligibility