What Happened To Capital Offers

[blacklisttatto]

We had a current offer available and were looking to accept it today to help keep payroll going and just general operations going, however the offers are now gone. What is going on with this? We have had several successful capital loans in the past with repayment in less than the estimated time frame. This is very frightful due to the COVID-19 pandemic. We were looking to use this to help us stay open for unsure times. Can someone please explain what is going on with this and what is happening?

[diversitymover]

Hello, yes, I was wondering the same thing. 

[blacklisttatto]

So I just spoke with someone on the phone and they are saying my offer expired due to time. Less than a month ago is when it was offered to me. Actually it was the 1st. They are not wanting to be honest and say they don't want to take the risk with offering loans to us. I asked to speak to a supervisor and was told that it was all automated that there is nothing that they can do. 

So square is pretty much saying screw you guys. Well IMO. 

My company processes nearly 500k a year with them and they don't want to help us during this time. Safe to say that I will be looking to make a change once we pay off the rest of the 10% left of this current loan. 

Way to lose a long time customer. 

[diversitymover]

Hello, its hard times for everyone. I've been getting these micro loans for about three years now. It was always a help. I did notice they are refunding certain fees. 

[blacklisttatto]

Yeah, but the fee refunds over the opportunity to keep your small business going is peanuts. 

I have been taking these loans for a long while too. They have helped us grow the business to where it is today. But not having the option to secure tomorrow is what frightens me the most. 

[diversitymover]

I can understand how this would frighten you the most, however, I believe patience will be needed as this unravels. I feel the pain like you. If new information comes my way I will post. 

Wishing you the best in these times,

Ron

www.mydiversitymovers.com

[kaversano]

Yeah, I literally feel sick to my stomach.  I wasn't going to take the loan unless I needed to but thought I'd have it in my back pocket when I did.  I went on today to accept and it's gone.  The last email I received offering it up to me was on the 10th.  I guess I should have pulled the trigger then.  I just occurred to me that they might take it away because everyone with an offer would accept it right now.  UGH.  Feeling queasy.

[blacklisttatto]

Same here. It was my ace in the hole so to speak. I am now freaking out seeing that my business is my only source of income. It has me seriously worried. I should have pulled the trigger at 3am this morning when it was still there. 

[diversitymover]

It was my ace in the hole as well. 

[Curlpoweratx]

Same here. Disappeared within days. Went back and forth with them through email. They have no intention of helping us out. 

{We’re unable to invite you to participate in the Square Capital program [again]. There’s no additional information we can provide at this time. We can’t go into specifics about program requirements because the criteria used is proprietary.}

[Akleo]

I had one that showed up on March 9th and went to apply for a very small portion of what was offered and it is gone tonight.

 I emailed support but know that the answer will be very vague and not really an answer at all. 

Looking at moving on from these guys.