Does Square give loan renewal offers on weekends?

[Blueberryhill]

The title of this thread has been edited from the original: Square Loans weekends

Does anyone know if square gives loan renewal offers on your dashboard on weekends? i know they dont do approvals on weekends but do they send offers on weekends?

[rzrshop]

I have only had 1-3 refunds all year and have only been offered 1 loan back in April nothing since.  I do not understand how to increase my offers some people are saying they are on their 5th loan. I dont understand their process of loan offers

[JustinC]

Hey @Angelamcdannold - I totally hear ya and understand how sellers largely rely on Square's loans to purchase new equipment or even open a new location. Especially when life throws unforeseen roadblocks in the mix that may interrupt business. Please know that we are sensitive to all circumstances our sellers face day to day and apologize if the Loans Team gave off an unempathetic tone. 

There are a number of variables that play part in their decision, but they're always scanning accounts to determine eligibility. I've moved your post over to this thread so you can click the link Kassi included in her post above on ways to improve your chances of getting another loan. 

[rzrshop]

@Kassi_ thank you I have, i use their credit card processing reader for most cards, I do have their retail point of sale software but mostly just use the credit card processing. Do I have to use the retail point of sale software to be eligible?

[Valentina]

Valentina here, hopping in for Kassi to confirm that you do not have to use our Square for Retail software in order to be eligible for a loan through Square Loans, @rzrshop.

[rzrshop]

@Valentina thank you. i just dont understand how i do not qualify for a loan thank you though

[rzrshop]

@Valentina we do alot of over the phone orders and use the larger square card reader with built in printer for retail shop, does that affect the loan offer?  It shouldnt matter as long as cards are going thru and not disputed correct

[JustinC]

Wassup, @rzrshop ! Grabbing the baton from Valentina on this one.

You are right - the type of hardware you use to take payments is not a determinant in whether or not you are considered for a loan. 

[rzrshop]

How often are people getting offers?? I got 1 offer in April paid off in Sept and have not had an offer since.  Just wanted input from other companies that get loan offers consistantly. thank you and happy friday

[Cajuncoffeeshac]

I'm on my 3rd loan and paid at 83% and really could use the loans to purchase new equipment and supplies. Still waiting and can't stand the way you can't ask for another loan. 

[Regina_B]

Hey there @Cajuncoffeeshac, Regina from the Square Loans Team here! I totally understand your frustration and appreciate the feedback. We are constantly improving our products, so your feedback is very valuable and I will be sharing it with my team. If you haven’t already, please check out our support center article Becoming Eligible For Another Loan Through Square Loans

Please know that we are constantly evaluating your account for eligibility and will notify you if you become eligible for another loan through Square Loans. 

[Cajuncoffeeshac]

I do understand that my account is being reviewed and I already went over the link becoming eligible again for a loan offer.  I meet all requirements and processes 28k a month in credit card sales, and have zero returns or chargebacks. Yet I'm still not eligible.  It's just really frustrating.  

[Paulynne]

I see this thread is old, but I hope they review my account sometime soon. We are at 66% paid off and got an offer at 65% last time. It’s really needed.