@SPPhotography1 wrote:
Can you or someone please review my account??? I’m at a loss at what else I need to do to be offered a Square Loan again. I’ve been with Square for over 10 years and had 7 loans that I’ve have paid back early every single time. Every metric is in green, record sales year, record numbers across the board, no refunds, no complaints or issues of any kind in our entire history. Current loan is 80% paid off and no new offer in site. This is the kind of stuff that causes businesses to find someone to process through! Please help! I’m sure I’ll get the same old excuses that you guys send to everyone about looking at every aspect of the business. But there isn’t a single aspect that isn’t way up from where we’ve ever had it before.
HI @SPPhotography1
Unfortunately there isn't anyone to actually review accounts for Square Loans. It is all based on an algorithm. The only review that happens is when a seller accepts an offer, then I can imagine a team will look over the things and double check to make sure everything matches up to send the funds. IMO, (and this isn't aimed toward you, but a downfall (again my opinion) of those "green metrics" that Square implemented some time ago. Many sellers, myself included would view those as once everything is green, a new offer should roll in. That's just not the case. They are simply I think a basic guideline or overview of your current account, as there are probably other factors that come into play What those are, none of us seem to know or figure out.
As a business owner and Square user myself, I don't look into Credit Card processing companies based on how big of loans they can offer me, or if they even offer me a loan for that matter. I base it off the usability and how I can use them to fit into my business on what they offer me. IF that company happens to give working capital loans as well then to me that is just a bonus if it's something that you are looking for.
With the record sales and year you seem to have had, And your 'metrics" seem to be all good, as well as being within the "normal range?" % of your current loan paid back, one would only assume that you must be teetering on the edge of a new offer.
Hopeful that 2024 starts off great for you, and may your sales and business continue to grow.
