Square loan repayments being taken in small amounts (approx 12 times a day)???

[bkcatering]

I noticed that my square capital loan is being paid back in small amounts but still total the 13.5% pay back amount.  

i.e.  on 11/19/19; payback amount was $58.99

on 11/20/19  payback amount .62 cents; 11/20/19  payback amount $1.68; 11/20/19  playback amount .58 cents

There are at least 11-14 separate lines showing small amounts paid like this every day since November 19, 2019

Any ideas as to why square is doing this?

Thanks!
Brenda

[Kassi_]

Hey there @bkcatering - 

Welcome to the Seller Community! 

Your loan is repaid by taking a small percentage of the card sales (including taxes and any tips) from your daily sales. We do this so the repayment is able to match your business's cash flow. 

If you have questions on that process or your percentage of repayment, reach out to our Capital Team directly: http://squ.re/contact/

(Tip: after clicking the link above, hit More > I Don't See My Issue. There, our phone number will generate along with your customer code).

[bkcatering]

Yes. I understand that, hmm, let me be more clear. Before November 2019, Square was taking my daily (percentage) pay back amount in one lump sum.  After November 2019, I noticed square was taking multiple amounts in smaller sums.

Here's an example:

On Nov 19th 2019 my repayment amount was $58.99 one lump sum (13.5% of daily sales) taken at days end.

On Nov 20th 2019 my repayment amount was taken in small amounts throughout the day... approximately 14-18 times...  but still totaling the 13.5% of daily card sales.

My question:   WHY did square start doing it this way?

It's VERY inconvenient to have to go line by line and add up my total daily activity and if I needed to print out my daily or monthly activity.. well, it would be impossible.

I hope I made my question a little more clear so I can get a more precise answer

Thanks again!!