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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
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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.
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
Click here to see a list of third-party apps I use to add functionality to my Square account!
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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.
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
Click here to see a list of third-party apps I use to add functionality to my Square account!
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@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.
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
Click here to see a list of third-party apps I use to add functionality to my Square account!
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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!
Community Moderator, US, Square
Sign in and click Mark as Best Answer if my reply answers your question :sparkles: