Solved: I got an email saying I was preapproved for anothe...

Slandry

I got an email saying I was preapproved for another loan because my current loan is 55% paid off I got another pre approval for another but when I open my dashboard it says not eligible

TheRealChipA

Hey there @Slandry. You should check the email header to be sure that email came from Square. I’m not sure that anyone has ever gotten a new loan offer at 55%, especially right now. Currently, sellers have been complaining that new offers are coming much later — say 90+% — and many have had to pay off their current loans and then wait for a while. The lending market is extremely tight and Square is still being very conservative. So, check your email header to be sure it came from a Squareup.com email address.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

जो है सो है

View Best Answer >

TheRealChipA

Hey there @Slandry. You should check the email header to be sure that email came from Square. I’m not sure that anyone has ever gotten a new loan offer at 55%, especially right now. Currently, sellers have been complaining that new offers are coming much later — say 90+% — and many have had to pay off their current loans and then wait for a while. The lending market is extremely tight and Square is still being very conservative. So, check your email header to be sure it came from a Squareup.com email address.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

जो है सो है

TheRealChipA

@Slandry Oops. I hit “reply” too soon. If you determine that that email is not scam/junk, then you’ll have to wait until Monday and call the Loan Customer Service folks directly.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

जो है सो है

Sammie_C

Hi @Slandry!

Thank you for reaching out!

Hopefully your issue has been resolved, but if not, feel free to give us a call at 855-897-1838 between 7am-5pm PT Monday-Friday and we can take a look.

Let us now if you have any other questions as well!

Sammie_C
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.