how long from paid SQUARE CAPITAL offer until you received another?

[airfishauto]

just like the question states, we have been paid off for 5 days, did a [Personal Information Redacted] capital offer in less then 6 months time 100% paid. We were not extended an offer in the 80% + range like previous times and we have not been offered anything now thats it paid. Everytime we reach out we get the same generic answers everyone else does, or a sorry your account is always reviewed etc. We have been told it was reviewed everyday and then another rep said our acct was in a "special" review group where it was done every 2 weeks. If they are not going to extend an offer I would like someone to just say that & why so we can move on. I get that its a "privilege" but its also a pita considering we have had 6 other capital loans paid with no issues and always got offers, now our biggest one and we pay it off in no time in order to expand and still nothing. We reached out multiple times & the last time we reached out to anyone we literally got a "you do not have to keep contacting us we will contact you" reply. Understandable there is a "algorithum" but no one will say exactly what it is, our acct is always in good standing, no issues & sales are going up every month, our only "down" square month was because people paid with checks vs there card. We put some money towards this one to pay it off early in hopes of getting another off so we rolled the dice on our end but there wasnt a doubt in my mind we would get another. Now it seems like that we will not get another expecially since we have already had 5 days since its been paid with no offers. The way business has gone I really expected to good amount larger offer then our last one was. We do 100's of thousands of dollars per year and will do close to [Personal Information Redacted] with sqaure alone by year end and as someone in another post said it feels like "the rug has been pulled out from under us."   

[ecantiques5]

@airfishauto 

According to the square capital guidelines, it can be up to 2 weeks before they review your account after you pay off early or pay off through payment percentages in full.  It is my understanding that they reveiw those with balances daily when you are in the 75%-85% pay back range.  We had been hoping at 70% then %74 then surely 80% and still nothing at 82% paid back on our 5th loan. **All 5 previous loans had came in the 68%-70% repaid level** We have been with Square since 2013 have had one chargeback for $211 back in Feb. for a customer that had the merchandise for 5 months then filled charge back

( pure fraud ) and we process well over [Personal Information Redacted] a year. Although I am extremely happy to hear that a few others that have been posting to these capital loan concerned threads do eventually receive offers, it is further more frustrating that a poster recieved an offer on a SECOND loan at 81% repayment.  Again, I am happy for this seller...but it further reinforces the frustration long time, good history, sellers may experience with the current Square Capital.  We all know it was NOT LIKE THIS in the past.

Don't let it hijack your business though... we have all worked to hard, put in far too many long hours to make this " American Dream " work. Perhaps consider other available options.  I would like to recommend Square perhaps consider 2 Capital Products, one incorporating a seller's creditworthiness and history with square and processing volumes and then refining the current program to reduce past sucessful loan user's frustration.

Wishing all that are in good standing, with good revenue, good history a very near to the future capital offer!  Hang in there! Focus on what you do best!!!

[trtprinted]

I agree, we should not let them hijack our business.

I told them I am thankful for the two years they have helped me grow but for me to succeed I need reliability.  I hate to leave both the processing and funding side but if they don't want my business why beg to stay???

So what offers have others received from their competitors? 

[mehta25]

over 2 weeks after paying off my second loan and still no offer. Same generic answers, switching to Paypal soon. They have a much better customer support, I feel and offer capital from what I read online. 

[carolinahorse]

Literally in the exact same boat with business volume, previous loans, etc.  We were paid off 5-6 weeks ago on this last one and nothing. Something has changed but no idea what. I'm not holding my breath for an offer and contacting the Capital team will only result in the canned answer many of us seem to have received. 

[ecantiques5]

@carolinahorse

All I can further add is that it is a shame, regardless of proprietary regulations, regardless of non business owner friendly algorithms, THESE posts have to be made. Square Capital does NOT have to treat it's sellers like this.

[eldusto]

Making 350-400 a year? Why need a loan lol

[brenhuds]

My business does upwards of $500k a year and we are always welcoming a Square Capital loan. It allows us to grow and do necessary renovations/changes while still keeping up with payroll and all other major expenses without allowing our overall budget to really be affected.