How long before I'm offered a new capital loan?

[LittleDoll]

Hi! I am paying off my first capital loan much more quickly than expected. I'd like to get another loan if possible, to offset holiday expenses.

My questions are:

If I put my liquid funds toward paying off the loan today, will I immediately be offered another? (This would be my goal.) If yes, will I have the option to increase the loan amount next time?

Thanks!

[VanKalkerFarms]

paying off with monies other than regular credit card sales will make it take at least 2 weeks to reset your loan offers.  other than that there is no magic percentage paid off where you will be offered a loan again or even that you will even be offered a loan again after paying this one off.

[LittleDoll]

Thanks!

[NRVGuru]

I'm worried that the payment that the payment I did a couple weeks ago hamstrung my renewal chances, even though I didn't have any open renewal offers at the time. Square Capital's weird at times. 😕

[Regina_B]

Hi @LittleDoll! Thanks for your question! 

There’s no penalty for early repayment. However, we are not able to project your eligibility or offer amounts if you were to make an additional payment or loan payoff. It takes up to two weeks for payment confirmation once the payment has been submitted and  you will be reevaluated for a new loan offer after the payment is confirmed. If you’re eligible, you’ll be notified directly on your Square Dashboard and via email. 

[Napaprivate]

Like the header said ? I checked my charge backs and only had two by the customer I generated four others on my part not the customers ? Can’t fig what I did wrong?????