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Square Capital eligibility

I know the minimum amount is $10k/year to be eligible for square capital but is that $10k based on only credit card transactions or does that include checks, cash, and gift cards as well?

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@SpoiledRotten

This is really good question, basically though there are many & many UNKNOWN factors in becoming Eligible for Square Capital through the machined algorithm. However; it is my understanding the $10,000 per year must be in credit/debit card processing. I would assume they would count gift cards as well if the original process to purchase gift card was the result of a card purchased Square processed and collected fees on. But I am pretty sure unless they would be getting a processing fee on your check and cash payments they will not count.

 

Perhaps one of the Captital Team members can clarify and state exactly what method of payments exactly they look at.

But I have always understood it to be the credit or debit card sales.

 

Have a great new week!

View Best Answer >

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39 REPLIES 39

Same boat, but after reading some of these comments, I realize the threshold must be higher to receive the $10k offer. My current loan is 77% paid off in 7 months, processing $50k through Square alone in the last year, with sales continuing to rise and still nothing. This lets me know to stop focusing on paying off my current loan so rapidly. I will go back to mixing up invoices to Square, PayPal and my website. 

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Don't hold your breath for a square capital loan. I have been with square for 3 years now and haven't recieved one at all.

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Once I start processing over $10k how long does it take to receive any offers. I have tried to find information on applying but the only thing I seen is to be "noticed" was to take survey. I can not find the survey.

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Square

Hi @Earthkeeper

 

Thank you for posting! 

 

Currently, there is not a set timeline for any potential Capital offer. If your business does become eligible for Capital, you will be notified of an offer in the Dashboard and with an email.

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Thank you for replying to my question LaDora. My next question is about the Survey. I cant seem to find where it is.

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Square

Hi @Earthkeeper , 

 

At this time, we automatically review accounts for eligibility. Currently, there is not a survey that merchants need to complete in order to become eligible for Capital. 

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Beta Member

Is there anyway my account can be reviewed? Based upon the link that was sent to me, my account meets the requirements for eligibility. Thanks so much for your time. 

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They don't actually have a survey....it's simply something they say.

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Beta Member

I’m pretty sure my account qualifies now. Can someone check my account?

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Admin

@ChrissyWoods Thanks for your posts! Our Capital team has sent you an email about your eligibility for another offer. The Seller Community is a public forum so we can't share information about your account here. 

 

@dmdale0318 Thank you too for posting, glad to hear your current loan is helping! There's more information about becoming eligible for another loan on our Support Center. As mentioned above, we can't discuss your account here in the Community.

️ Helen
Seller Community Manager

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Beta Member

I can appreciate the response,  but I've already lve already looked to the support center for answers.  It would seem as though there would be a little more transparency when it comes to reloaning. Increased customers,  sales,  etc would seem enough to get a more response

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I've been with square for 3 years and haven't received not even one capital offer regardless of the fact that I do 18k a month in sales and a little more than half of that is is credit cards. So my advice is don't hold your breath on square capital anymore. A lot of people are moving to other merchants that have capital processes that are clearly defined and not so vague and willy nilly. 

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Square

Hi @theBRATcrew, Thank you for your post. 

 

We understand your frustration with not receiving a Square Capital loan. 

Offers are based on a variety of factors such as payment processing volume, account history, and payment frequency. However, we do evaluate many other factors of your account. We wish we could be more transparent, but we are unable to go into specifics about the requirements of qualifying for a loan because it’s based on a proprietary underwriting model.

 

We are happy to hear about the success of your business and if you become eligible for a loan, you will be notified directly.

 

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I was wondering if i can be considered for a capital loan. I have new and returning costumers. I have increased in sales. And really want to jump into higher sales 

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@LaDora hi i was hoping you could look at my account and see if i can be reviewed for a new capital loan. My sales has increased with new and returning clients. I’m looking to expand my business with new product and team members. 

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Alumni

Hi @Aegolf - I suggest you send the Capital team an email since the community isn't a place where we can talk about account specifics. 

 

To send the Capital team an email:

Go to squareup.com/help/contact

Click Square Capital

Click "I don't see my issue"

Then select send email

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Beta Member

last time I had offer in 2017 and got denied. Every loan I had paid off in 8 months. I am not sure why I don't get any more offers

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Hello,

I have been with square for a long time and we do everything with them can you please look into why they approved me and 4 days later they said iam not approved? we really love the idea of having square capital available please don't take it away from us.

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Square Community Moderator

Very sorry to hear about the trouble you're having with your Capital loan. It looks like you've been working with our Capital team on this issue. These forums are public, so to protect your privacy, we need you to continue to work with them directly. They should have sent you an email with specific information about your loan. If you haven't already, please check your inbox for it. Apologies again for the frustration, and thanks for your understanding.

AshleyK
Community Moderator, Square
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