No new Square Loans

Marystacos530 · ‎05-02-2022

I remember when i decided to start using square as my main P.O.S i was amazed by the fast processing speed and even more whe we recieved our 1st loan offer with in 2 months of when we first started using it and yet again when they offerd a new loan and to pay the remaining 15% . We have had 10 square loans since then and paid all of them befor the 18th month of our square loan end date except for 1 and that was because of covid and even at that we made it through that hell and manage to pay them off what we owed wen a lot bussiness forfeited theyr loan we kept strong we showed we trusted un SQUARE HOW COME SQUARE WONT TRUST IN US IF THEYR A BANK NOW DONT BANKS HAVE REAL PEOPLE MAKING REAL DECISIONS BASED ON FACTS WHY CAN WE GET THOSE EARLY OFFERS ANYMORE WHY IS IT UP TO THE ALGORITHM WELL NOTHINGS CHANGED MATTER OF A FACT MY BUSINESS HAS BEEN CONSISTENT HASN'T THAT MEANS ACCORDING TO ALGORITHM I SHOWED I ALREADY GOTTEN ANOTHER LOAN OFFER BUT I HAVEN'T i tell everyone i know trust me buy square best choice to make its not taking a chance if its for sure so please SHOW SOME LOVE BACK

HC_Charlie · ‎05-03-2022

Hello @Marystacos530 thanks for your post. I can understand your frustration with funding your business; as a small business owner too I also feel it is difficult to work with banks and other traditional lending institutions. Square has been a great partner for me and I have appreciated when i have had the additional funding that comes with a Square Loan. It looks like you too have been able to benefit from Square loans, having been offered and accepted 10 loans. I have not been offered that many loans, but perhaps my business isn't a strong as yours. I think that shows that Square has trusted you in the past by working with you to fund and support your business.

I wouldn't take it personally that you haven't been offered another loan. There are many factors that go into Loans and being offered one; as just a fellow business owner I cannot answer a specific question on how or why loans are offered or the criteria. I did find some contact info here if you'd like to reach out with a loan specific question. I hope they'll be able to offer more insight. Perhaps with your strong history of loan repayments, a traditional local bank may be able to offer you a loan? In additional to traditional credit checks this history of working with Square Loans may be taken into account by another lending institution? Just a thought here, good luck to you and I hope your business continues to do well.