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How can I increase my chances of getting another square loan offer?
How can I speed up getting a second square loan offer? I’ve already had two, I paid most of my first offer and then got another offer right away, and now I’ve paid most of my second and am looking to received another offer. I’m wondering if there are any ways to help expedite that process. I’m at 73% pay off.
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Hello @H2owellness
I'm not sure there is a definitive rule that determines when you're eligible for a Capital re-up. I would assume that Square has a pretty sophisticated computer algorithm set up to determine everyone's eligibility.
Short of actually reaching out to the Capital team, here are some pointers I've seen mentioned in the past:
-If your business isn't growing or is growing at a rate less than before, it may delay capital offers.
-If your business takes a little longer to pay the minimum payment needed, it may delay capital offers.
-Excessive chargebacks or refunds can slow down the offer as well.
Best of luck!
Golden Pine Coffee Roasters
Colorado Springs, CO, USA
Square Champion: I know stuff.
Beta Tester: I break stuff.
he/him/hey you/coffee guy/whatever.
Happy Selling!