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Is there a limit to how many loans you are offered through square capital ?
I usually receive a square capital loan offer before my loan is completely paid off. my loan has now been paid for three weeks and have yet to receive an offer. all my previous loans were paid off in a very short time frame. is there anyway to speed up the process of getting a loan offer? I could use it to start off the year with more inventory , considering my customers tend spend a lot of money the top of the year following their tax refunds, I was hoping to be use the loan to fully stock prior
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I don't believe there is a limit. I do know that I have had several square loans and they have all come at different times. Some as low as 60% paid and one I was completely paid for about three weeks or so until I received another offer.
I know some things that are considered are the regularity of transactions, if there was a decrease/increase in sales, chargebacks etc.
I know this isn't much help but keep checking. Also, go on your dashboard to check, I had several offers which I never received an email.
I would be interested in knowing the answer to your question as well. I wanted to start my year with some new inventory too.
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Hey! I just wanted to touch base and say I don't have any information to better affirm the thoughts in this discussion, but I can provide a resource you all may find useful. More information about becoming eligible for a new loan (what you need to do, and the next steps) is available in the Square Support Center here: https://squareup.com/help/us/en/article/6479
If you have any questions about Square Capital or your current loan please contact the Capital team directly. Thank you!
Community Moderator, Square
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