Can I get a new little before old loan is paid off?

[Quicky]

Can we get a new loan before old loan is paid in full

[Quicky]

Can I get a new loan before old loan is paid in full or can we add old remaining money?

[Regina_B · Accepted solution]

Hi @Quicky!

Yes, Square Capital does offer Mid Plan Offers, so you might be eligible when the current loan is closer to being repaid.

However, we can’t guarantee that an offer will be extended before the current loan is completed or immediately after its completion.

Thank you for your question and keep rocking it!

[Soulsquad]

Thanks  @Regina_B

[Barbwireroses]

We are down to the last [Personal Information Redacted] from our 5th loan, when we was told that they was unable to give us a 6th loan because of and I quote “ your business has had transactions which are considered to be [Personal Information Redacted] “ not sure what they mean. We are just a  boutique, we do not do [Personal Information Redacted]. How they come to this conclusion we are not understanding. And still have not heard back from them explaining this to us. 

[Soulsquad]

WOW! i hate hearing stories like this, everytime i do, it takes a little piece I have in Square's capital program. Everything else is great, but they started a great service i think, and because investors are involved, there have obviosuly been changes. Good Luck to you!

[Soulsquad]

Hey did you ever get an offer?

[1Moment1Shot]

@Regina_B - Is there a set mark that we have to hit to be offered a new plan. We are getting into our Holiday Season and Square Capital has always been a great boost for us with inventory and equipment. 

[katieand]

Hi @1Moment1Shot - Stepping in for @Regina_B here 🙂 Since each Capital offer is unique to the business that is receiving an offer, there is no set mark to become eligible. Our best recommendation is to keep processing, but you can read more about how to get noticed by Capital here. I'm glad you've gotten nice boosts in years past before the busy holiday season! What type of business do you have and what do you typically end up doing with your Capital? 

[Soulsquad]

Hi @katieand, reading the article again, how much does weekly processing matter? When i was upset with you guys i spread my payment around, just hoping that didnt bite my in the Ass-sets on not getting recognized!, obvisiouly im doing something wrong to not get offers......Please help...

[katieand]

Hi @Soulsquad - That's something I don't know unfortunately. I can't imagine that the folks on the Capital team can speak to it either since there are many, many factors that go into generating offers and each offer is unique as it states on that article. 

[1Moment1Shot]

@katieand - We are a Wedding and Portrait Photography Studio. We use our capital to additional staff members, new props and scenes, and more equipment during the holidays.

[1Moment1Shot]

@Regina_B @katieand - Can my account be reviewed for a new loan offer for the upcoming holiday season? I'm currently just over 85% paid off.

[Soulsquad]

I've Been Paid 100% since March, Good luck on a review and Offer, Ive had 5 loans all paid back, they say its automatically review. Good luck!

[Regina_B]

Hey @1Moment1Shot! I will email you directly regarding your account. In the meantime, check out this Support Center article: Becoming Eligible For Another Loan Through Square Capital Thank you!

[Soulsquad]

@Regina_B Didnt know Accounts could be checked, while your at it, can you check Mine? 5 loans paid ALL successfully, Then nothing. We have a great Government contract we can take advantage of! Need a little boost, while we waiting on Government payment! 30 days

[Tom]

Apologies for the confusion—we aren't able to offer account reviews from our online forums. If you have any Capital-specific questions, please get in touch with an account specialist directly: Contact Square Capital. Thanks for helping us maintain your privacy and security.

[Soulsquad]

Thanks for the clarification Tom!

[Isis1]

So... how would I be able to get the chance to get or apply for one and see if I can get approved?

[kellyj]

@Isis1

You found a good thread for this information for sure. Regina linked a great article here that might shed some light on this for you.