Square Loan Criteria

[Dawggos]

I saw a lot of people posting about the square loan offers and I never seem to have a problem. Maybe sharing what I do can help? 

I don't have any chargebacks. 

I have 80% card sales 

New customers 50% ; Returning 50%

I only let the payments come out of sales

I don't make manual payments

I have daily sales

I use the loyalty program

Never charge your own card 

I use links for people to pay on my website

I tap most of the cards no swipe

I'm in a service heavy industry

I do think all this helps me get loan offers. My sales were actually down by 6% in between both offers so actual sales don't seem to be taken into more consideration over all of this other stuff. 

[Minion]

Hi @Dawggos 

Thanks for sharing some data points on Square Capital. It's a pretty strange algorithm that they use as I've tried to figure out how it works. The consistent daily card sales seems to me like its one of the top factors that plays in.  I do wish the would add checks/cash payments to the algorithm though, thus looking at the business as a whole and not just what is processed.

To add to this also, It seems if you don't' necessarily take the first offer, while paying off a current loan and still maintaining consistent sales, the second offer seems to generally be a bit more.