Can you get a loan if you’re not currently eligible?

[KiraHooks]

I was approved for a Square loan a week ago, I went on maternity leave and didn’t take a loan out because I wasn’t sure how much I needed. Now we are sure and the loan is not available since I have not been to work for a week. Has this happened to anyone and they were able to still receive the loan?

[JTPets]

Square uses a lot of your sales data and history to determine eligibility - I do not understand all of it, but if you had a lapse in sales you might need to generate new history to qualify again.

[RobynR · Accepted solution]

Hey @KiraHooks,

Thanks for joining us in the Community.

I am jumping in for @JTPets with a little more information.

Loan eligibility is based on various factors related to your business, including payment processing volume, account history, and payment frequency. Here's more about eligibility for Square business loans.

Please let me know if this helps.