Has anyone had capital offer lately?

discountlinens · ‎10-22-2018

Trying to find out what’s going on. All these sellers say they have not been renewed. I’m at 81 percent paid in 5 months on my 7th loan and no offer. Sales are used 4 times normal amount in last 2 months and will continue through feb. I have to make a decision on loan choices this week in order to have merchandise in time for holidays. If I’m not going to be offered anything I need to know. Trying to get some positive feedback as I have had nothing but generic responses as well. Thanks in advance everyone

Kimmiesue12001 · ‎10-22-2018

Sorry you havent been able to get a direct answer...but to be honest you wont. I've been paid in full on my 5th loan since August with no nee offer. Its unfortunate for merchants who get used to a certain way then suddenly you get nothing.

VanKalkerFarms · ‎10-23-2018

While I'm sure this is not the answer you are looking for, there is not a way to know if you are going to be offered a loan again or at what percentage. Yes you may think it is a generic answer but it isn't as it is true, there aren't people laughing in the back room of the loan department as they string people along knowing they will get an offer on november 5 and telling them on november 3 they don't know. Yes 500+ businesses get Square Capital loans everyday totaling over 3+ million dollars. Square Capital Loans are be good for some quick injections of working capital but is not a lifetime plan for keeping a business floating.

Personally and from a business financial view you should look into a RLOC (Revolving Line Of Credit) at a bank or credit union or if that isn't offered just a LOC ( Line of Credit). Getting that many Square capital loans isn't financially sound as they have higher intrest rates for short term unsecured loans. If you are able to pay back 7 Capital loans there is no reason you shouldn't be able to pay back the RLOC loan before you need to hit it again for another inventory buid up etc.

Best of Luck.

Bob Van Kalker
My Van Kalker Farms Garden Center website
My Rise'n Roll Bakery Schererville Indiana Facebook Page
My Rise'n Roll Bakery Cedar Lake Facebook Page

discountlinens · ‎10-23-2018

Update received offer this morning and approved within the hour. I don’t know what justifies who gets loan and who doesn’t but you I am so glad I have this for the holidays. Good luck everyone

jaymepeters82 · ‎11-12-2019

My last loan #4, was paid off August 2019. I haven’t received a new offer. Could really use it with slow season coming and I need new equipment. But no offer.

Joe · ‎11-13-2019

Hi there, @jaymepeters82 - thanks for adding your voice here.

Concerning new Capital Loans, @VanKalkerFarms is spot on here. Capital loans are viewed by our Capital Team on an individual basis, meaning that past success with a loan from Square does not ensure availability going forward.

The best way to 'raise your hand' for another loan offer would be to continue being a strong Seller and using our services throughout your business. As soon as we have a loan to offer, we will reach out to you! 😇 📈

Joe
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.

Twpchair · ‎04-25-2020

I have asked and suggested to long term users that have never been late or defaulted on a loan why cant you offer revolving credit?????? seems pretty simply to me!

jaymepeters82 · ‎04-25-2020

@Twpchair still no offers. 8 months later, and nothing.

Twpchair · ‎04-25-2020

That’s horrible especially right now!