@jjgard

@Chad

@Russell

Has anyone been denied a loan then received a loan offer immediately again? 

It was denied for a mistake made with squares terms but my account was restored to good standing but they denied me anyways. 

@Redlight2015

@djc_722

@jjgard

@Chad

@Russell

With all due respect, being paid back at 80% on a current loan does not automatically qualify a seller for another loan offer with Square Capital. They ( the capital support team ) advise the automatic machined algorithm takes into account account history, new customers vs. retained customers, chargeback history. Especially if you are a repeat Square Capital Buisness owner do NOT expect offers at repayment percentages you have had in the past.

I have paid 4 loans off in 18 months.  I process over over [Personal Information Redacted] a year with 50 to 80 transactions a month and every day of the week except sunday.  I have paid my last loan off in full and did it with the usual [Personal Information Redacted] withdrawl from each check and still I have not been offered a loan.  It seems like they are giving loans with lower exposure, because I have not been offered any loan at all and considering its one of the reasons I process with square I have not switched over to another processing company.  I was given may reasons as to why I am not offered another loan, one was that I can not apply for another loan until I had paid my loan in full and two weeks had past. It has been over two weeks and I have not been offerd anything.  It is clear they have changed how they offer loans and regardless of what you process, I would start exploring other options.  As a small business owner I know the importance of getting loans for capital, it helped me grow my business to what it is today.  That being said,  as much of an inconvince switching processing providers will be... I can not stay with a processing provider who charges the fees square charges without allowing me to use my processing amounts as an asset to have the option to gain a capital loan if my company should need it.  I don't need square giftcards or marketing, my company markets itself.  No one likes to be given the run around, especially in business.  I had hoped square would at the least provide a clear understanding of why suddenly after my company had been offered mutilple loans, those loans paid in full and my company processing higher and more then prior years I am no longer offer a loan of any kind without any real reason as to why?  

I just recently got denied as well after how many loans I’ve been doing with them. And I even paid off in advanced but still got denied. I am very disappointed because I have paid 92% off of my loan and hoping to get another one since I have been good standing with them. If I have only known I will get denied I should have not paid some of it off and just waited for all of my sales to come through. I just don’t understand how I got denied when I’ve been with aquare for 3-4 yrs and been getting loans from them and paid it off. 

Yes, same here!  I got to 80% repaid, so I bit the bullet and paid off the remaining 20% only to be ineligible for a new loan.  I was flabbergasted because I literally pay off my loans in 3-5 months every time.  

Has anyone been denied a loan then received a loan offer immediately again? 

It was denied for a mistake made with squares terms but my account was restored to good standing but they denied me anyways. 

I'm kind of in the same boat as other people here and that my loan is about 92% paid off and I usually have an offer. Here's the difference: Yesterday I had an offer, and today it's gone! Even though I've paid more of the loan off the offer is gone I'm assuming there is something going on with square Capital that either their process is changing or their product is changing. It sure would be nice to get good communications from Square Capital. It seems all they (the company) really care about is square marketing. Like others, I take care of that myself. That's part of owning a successful business.

Great point.  Square owners should not expect any clear answer to why they are not offered a loan regardless if they are fully paid or 80 percent paid.  Square owners are not entitled to another loan from square just as square isn't entitled to square owners staying with square and paying fees to square through processing.  If you want to use your processing to your advantage, square may no longer be the best option for your company. 

Hi 

@LaDora is there anyway you can take a look at my account I’ve submitted the requested info for verification but haven’t heart anything back 😔 this will be my 2nd loan i was approved for the 1st one the same day 

Hi @Tiasia1107! Regina from the Square Capital team here, thanks for your post.

I looked into your account and see that your application has been reviewed by one of our financial analysts and you recieved a final status update. 

Thank you for your patience!

🎊 Happy New Year! 🎊

Wondering why my 3 chargebacks that we’re due to accidental error ( online reservation deposit and client didn’t recognize the charge ) were the cause of a capital denial that was offered in my dashboard:( I was truly counting on this renewal !! 

The He amounts were all less than $100 . Super sad about this.. what’s the magic number for chargebacks to be qualified again ? 

It was denied for a mistake made with squares terms but my account was restored to good standing but they denied me anyways. Help

Hello there @KitKat2023  

My advice here is to reach out to the Square Loans team so they can take a look at this situation and provide an accurate answer. They can be reached at 855-700-6000 between 6 am - 6 pm Pacific Time Monday-Friday.

I only get templated responses 😞

I am sorry to hear about this experience. To get better chances of replies I recommend posting your situation on our Square Loans discussion board. The Square Loans (Capital) team monitors those boards and will be able to also offer any available insights there.