Processing volume says down?

[Thesignguy1986]

I have had many square loans and all with quick timely pay backs and no issues ever.  I love square.  With that being said I have a processing volume needs works thing on my square loan looking for another one and I’m not sure why as my sales are tremendously more this past month actually and we’ve grown dramatically and keep in mind it’s not even our busy season for another month.  Im not totally mad but disappointed as I’m purchasing a second machine by months end and now likely willk end up at fifth third bank for my loan which I will be able to get .  The ease of pay back on the square is what it makes so intriguing for me though as our business has a high profit margin it doesn’t really ever burden me.  I guess what I’m asking is has anybody else gotten this message?  Was it just an error?  I mean I’ve had lots of sales already in this year and projected like 20k more so I’m so lost with their algorithm 

[TheRealChipA]

Hi @Thesignguy1986  “Processing volume” refers to card sales only. Not cash sales or sales paid another way. Remember, Square only uses your card sales to pay back loans. Is it possible that your card sales are significantly down? If so, that’s what’s going on. Sure, you might be a responsible seller and make extra payments from your high cash sales. But not every seller would.

[Thesignguy1986]

No card sales are drastically up my volume I’m a small shop is generally around 10-12k month average this time of year it’s right there yet we’re going to hit 20k this month alone I’m just confused and not end of world but as mentioned it’s going to make me go to my fifth third local bank and yes I’ll get approved but I truly love the way I pay square back being my margins are generally 400-800% meaning it’s just super easy to pay back as opposed to having a **bleep** piece of paper monthly sent lol

either way yea it’s confusing for sure

[Thesignguy1986]

Those numbers are card sales not other checks cash ect 

[TheRealChipA]

I understand. I’ve said it before and I’ll say out again. “The ways of the Square Loan Black Box are inscrutable. Blessed be the Square Loan Black Box, most of the time.” Lol

I’m  happy to hear a story of success and growth in this economic environment. I’m having similar success this year, knock on wood. 

And I understand your preference for Square Loans over 5/3. I, too, am a customer of 5/3. For over 30 years. Multiple business and personal relationships. I love them but traditional loans suck!

 Anyway hopefully the Revered and Blessed Algorithm sees the error of its ways. Good luck!