@Twpchair

Hey there! Glad you have stuck with us as well. 😃 

Even though you've provided feedback in the survey, we'd be happy to get some more Feedback passed directly to the Product team if you have a specific product request and want to speak to the team about it. We’re always collecting feedback to determine what to build next.

@kellyj .Would love to be able to access or have a revolving line of credit on our existing square capital loans. Right now I have an opportunity for our yearly billboard at a reduced priced for paying yearly and I’m at 68/70 % paid it would be awesome once you’ve reached a certain % say 50 % to access your balance when you NEED it or have the funds available to extend your existing loan once you’ve reached a certain percentage. My deadline is next Monday 😳. Thank you guys for all you do and always keeping in touch with us!

if i only took half of what was offered can i access the balance

Apologies for this late reply @flowershopon4th! To confirm, there isn't a way to receive the remainder — if you are eligilble for additional a Capital in future you'll see a notification in your online Square Dashboard. 

Square use to be pretty good about offering loans to it's clients.  Not so good any more.  I have had four loans with them and they were all paid back in a timely manner.  When asked for a new loan I was turned down.  I chose to go with another loan out side of Square.  As a business owner I need to know I can depend on a loan if I need it.  Square does not offer dependability they seem to randomly give loans.  My suggestion is you take your business to another Lending Agency who can produce a loan when you need it not when they are feeling generous. Remember Square is making money off of you on every loan and Square Capital is not cheap money.

Can I apply for more money on an existing loan?

Can you see if I can get a loan on an existing loan

Hey @Fisherman! Our Capital Team would be able to look into your account and answer your question. They can be reached here.

Hi @Mouhammed1966!

I'm sorry you're experiencing this issue! I will be following up with you via email, so please be on the lookout for an email from Square Capital. 📩 

Congrats on getting an offer and getting APPROVED!!!!

Did it all get worked out?

So the problem Regina is they say I'm not qualified but refuse to tell me what I need to do different to be qualified. When I ask it's a generic answer. You can say it's account sensitive but you ahve my email. You could always send the response there. After all you guys knew a reporter sent a message to my inbox, how would you ahve access to that?

 Good LUCK!

So I do believe in a higher power for sure, but people are getting contacted about their loans practices and I guess before I answer I wanted to reach out a give square a chance to make it right. I have been loyal to them and I like their processing. So I was hoping they value their customers we shall see.

I agree

Hi again @IMPACT23! Unfortunately, whether it is on Seller Community or in a direct email, we are unable to go into the specifics about the qualifying criteria for a Square Capital loan because the information used in proprietary. However, if you haven't yet, you can check out this Help Center Article: Square Capital Loan Eligibility It touches on key factors for eligibility and what to watch out for. Let me know if there's anything else I can help with!

@IMPACT23 Part of the reason they may not be able to give specifics is because their benchmarks are constantly changing with market conditions.

Square has limited funds available for Capital, and that pool changes daily. So their criteria for who to give their limited funds to must also change. If their pool is smaller - lots of loans already outstanding, using funds to develop a new service with an expected higher ROI, seasonal variations, a change in the prime interest rate, or whatever - then their criteria will become more stringent.

And their formula might change as well, adjusted as necessary to give them results more in line with their changing business goals.

My point is, not only are they probably unwilling to give specifics (because that would reveal proprietary information), but it’s pretty likely they are literally unable to give a straight answer even if they wanted to, because a straight answer doesn’t exist.

Imagine they actually gave a specific answer to someone. Something like: “Process $x more per week on average, with between y-z% being repeat customers, and have less than w% chargebacks. Then we will offer you a loan.” But then, when the user does so, they say “sorry, the criteria has changed; now you need such-and-such”. Wouldn’t that be enraging?