Square Loan Decline

[Coronato]

Issue here. Processing over a million in sales per year. Been in business for 3 years. Two loans. I was offered another, took it but then i was denied. I was charging the customer the cc fee like everyone else. Square changed their policy and before i could remove the charge i got denied the loan and now my account says needs work in order to be eligible again. I’ve had zero charge backs, no disputes. Nothing but green across the board. Anyone have any issues like this? Obviously the cc fee has been removed. I’m ready to leave square, it’s impossible to talk to someone.  

[Sammie_C]

Hi @Coronato!

Thank you so much for your post and we understand your frustration.

Your concerns have been escalated to a manager and you should hear back shortly over email.

Let us know if you have any other questions!

[BBbeautyBarBabe]

I was told my concerns were escalated as well and Never have I received an email or call back. No where in Squares terms and conditions does it say we can't pass the card fee to our client.  

[Sammie_C]

Hi @BBbeautyBarBabe!

Thank you for reaching out again.

I went ahead and escalated your case to a manager again. You should hear back shortly.

Let us know if you have any other questions!

[BBbeautyBarBabe]

Yep! Same thing happened to me! 

[BBbeautyBarBabe]

We have been with square 12 years, 14 loans.( Also process over 1,000,000.) We are in compliance with all State rules that apply when charging a CC fee. Square sent an email stating we needed to offer a cash discounts instead because we are going against their guidelines. However, I don't even know when those guidelines changed.  Needless to say, We adjusted everything in the system that day (increasing prices by 3%) then started discounting those who paid via other methods. STILL DECLINED. What is even craZier is when we started this square had a surcharge button for this exact reason. Many would say to just increase your prices to include the fee, but that does not work on commission based operations. You end up splitting the fee on 50/50 commission and the business eats still eats 1.5%. It is beyond frustrating as they paused transfers and operations for a period of time. 

[Coronato]

Hey, we never did. The customer service is horrible.  

[BBbeautyBarBabe]

Did you ever hear back?

[Coronato]

I tried to call and use the text. The only response i get is, we can’t offer you a loan if you’re not eligible.

 
which i understand but that’s not my question. My question is how to clear my account to be eligible for when it comes up. And they are zero help. 

truly don’t know why i stay here. 

[pnwlass]

Yes! This is a mess. I have never had issues in getting a loan with Square before. I have 2 business's, one being a nail salon and the other a wedding officiant. Like others my wedding business has gaps in payment, in that I am paid an initial deposit and then 30 days before the wedding. I say this because when I applied for a loan for my nail salon, I was turned down (I guess?) because of the wedding business. I called for support and ultimately had an email conversation with a manager. The responses were detailed in a vague way. I never did get a straight answer as to what I can do to fix the problem. I also have the 'account activity' issue on my list of reasons why I may not be approved for a loan. This list is specific to the nail salon, not the wedding business. Because the wedding loan has a completely different reason for 'account activity'. My nail business is very regular 4 days a week, no disputes and a constant history of getting loans. The manager suggested I look at FAQ's and this forum. So, here I am, just as frustrated as everyone else on this thread.

Sad that the Square Loan Team member stopped responding. This is clearly a problem and I want specifics as to why I was refused. I have been with Square since the beginning, I have been through the site shutdowns and still stay loyal to them. Do the same Square!

[Coronato]

Same here. They haven’t answered an email in two weeks. It’s absolutely insane