When will I qualify for another Square loan?

[Executivechick]

When will I qualify for another Square loan?

[Balzo11]

When is the quickest someone has seen a new offer come in after paying off the old offer ?

[1Moment1Shot]

After paying off a loan, how often are new loan offers reviewed?

[rzrshop]

They say daily, but it does not look anyone has been getting any offers or approvals 

[isabelle]

Hey @1Moment1Shot and @rzrshop-

Thanks for posting in the Seller Community. 

I went ahead and moved your post over to this thread so you could see other responses regarding this question. Here is a Support Article about Becoming Eligible For Another Loan Through Square Loans.

Given recent events, we’re evaluating all options to support sellers, but have nothing new to announce at this time. 

[dawnsgardengate]

My business is running 12-13,000.00 a month thru square. Was wondering, how long before i qualify for a working loan thru square?

[ToniG44]

Where do I find a new offer for a Square Loan. My loan is about 70% paid off. 

[ashc]

Hi @ToniG44,

I moved your post to a thread where this question has been answered already.

Check out the Best Answer above for details. 

In the future, don't hesitate to search your question first here or on the Support Center for your quickest answer too!

[heavymetal1]

where is this thread

[Cameron_]

Hi @ToniG44, 

Thanks your question, I would be happy to answer that question.

New offers are not automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing loan balance.

Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer.

While you are not currently eligible for an offer, your account is automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers. If you become eligible again, we’ll notify you directly through email and your Square Dashboard.

Please feel free to contact us, if you have any additional questions.