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What percentage of your second capital loan, did you receive an offer for your 3rd capital loan?

What percentage of your second capital loan, did you receive an offer for your 3rd capital loan?

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78%, but in my opinion, some things have changed, as business must do, Im on 5th loan, 99%, but offer hasnt showed Yet, so im optimistic, as I want continue to use Square for the good service model they offer. Good luck

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Thanks.. I got my second offer when I was at 72% on my first loan. I am at 80% now on my second loan and hadn't received an offer. Hoping I will get one soon!!

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Good luck! I have been paid off for 3 weeks now, and still haven't gotten another offer. Hope you have better luck. I've had 6 loans with them, and they have all been paid off. Thought i'd get other round, but maybe not.

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Me too, at 99%, never got to 99%^ because i always had another offer prior, but i think the program has changed some to maybe deal new customers

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@coley536,

 Did you ever receive another loan? 

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Same here! Been 3 weeks since I payed off my second loan. No offer, same generic answers 😞 

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Paid off 5 months...

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Just passed the 70% mark, I think at 73% paid now, and no renewal offer. So will report back at the 80% and then 90% to see what happens. First couple were always at 70% on the nose, most recent was offered at 90% repaid and only at a third of the amount we had become acustomed to. So the programme and criteria has certainly changed. They say they reevaluate everyone daily. Other pertinant info is that both the business and the owner's address has changed in the past 12 months and there was a two month period between moves where the business was closed. I would imagine that might affect loan consideration. Address only if they run soft credit. The busines moved about 10 blocks or so and the owner moved two floors within the same building. As for they type of business, it's considered high ticket, average ring is nearly $100 but number of transactions is only a few a day, but daily, Monday through Saturday. Hope that additional information clarifies!

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Good news! Was just offered another capital loan once hitting 80% paid back on the nose. This loan offer was double the amount of the previous one. So this is our sixth I believe. They had been offered in larger amounts previously and sooner, then got really low, and now going back up again and a bit sooner. Not sure of the changes and how they figure this but happy to have it! 

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For those wondering about how the loans are offered and/or approved. They are offered based upon your strong history with Square. Once you apply, then they verify information agains your credit report and public records, if you are approved, the money is deposited to your bank account as soon as the next business day. The loan application does not affect your credit report however your credit report is in fact used to determine if you qualify. To my knowledge they began verifying credit reports beginning about a year ago. Here is a clipping of their terms copy and pasted from my most recent application: 

I, Name Surname, give Square Capital and Celtic Bank permission to access my consumer credit report and public records for purposes of this business loan application and evaluating my business for any future loan offers. 

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Nice! im awaiting a 6th as well, but it seems more Random, Our business is up 40% without any offers, we have tons of new customers, so im optimistic but gotta plan for the worst. Congrats again!

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