thread Re: No response from anyone in Archived Discussions (Read Only)

Low Capital offer, how often do they review accounts?

gsxrfathead — Fri, 31 Mar 2017 12:52:10 GMT

So I have been using Square for almost 4 years, and have had 4 Capital loans.

I paid off my last loan early, and within a week recieved an offer that was considerably lower than my last 3 offers.

My total card processing last year was down 7% (due to a very weak first quarter), but my first quarter processing for this year is up by over 200%.

So my question is, if I don't accept the current Capital offer how long until Square reviews my account again, and extends me a better/higher Capital offer.

Re: Low Capital offer, how often do they review accounts?

MandiesMagical3 — Thu, 13 Apr 2017 21:06:11 GMT

From what I gather, whatever they give you is what they can offer. I have heard it cannot be negotiated.

Re: Low Capital offer, how often do they review accounts?

gsxrfathead — Wed, 19 Apr 2017 20:40:14 GMT

So here is the winning answer.

I didn't respond to the low initial offer, and 3 weeks later they removed the offer.

1 week after that I got a new offer. That offer is DOUBLE the low offer that I originaly got.

Re: Low Capital offer, how often do they review accounts?

LaDora — Thu, 25 May 2017 22:33:28 GMT

Hello @gsxrfathead,

When determining your Capital eligibility and custom offers, we look at factors such as your history with Square and your processing volume. Any adjustments in your offers are likely the result of a change in your account activity. Please know that there are no penalties for paying off your loan early.

Your Capital offer is continuously being evaluated based on these factors, so if there are any changes to your business, your three new offers may adjust as well.

No response from anyone

Kravguy1 — Tue, 20 Jun 2017 16:46:11 GMT

I have asked, I have sent emails about a capital loan, I've had 2 and paid down to 80+% on the most recent one. All I keep getting and seeing in this forum is the same copy and paste of many factors go into getting a loan. Does anyone get to actually talk to anyone about getting a loan? Please let me know if I'm the only one being ignored.

Re: No response from anyone

Russell — Wed, 21 Jun 2017 00:34:19 GMT

Hey @Kravguy1 - sorry that you're feeling ignored, it is not how we want you to feel at all. We just aren't able to discuss what goes into a loan offer. I'm sorry for that and definitely get where it may bring you peace of mind to know what specifically goes into receiving an offer.

Do know that when we're able to make an offer, we will reach out to you. Sending some well wishes and good vibes your way. 😉

Re: Low Capital offer, how often do they review accounts?

Sadiebaby1 — Thu, 17 Aug 2017 22:45:12 GMT

I love the square capital! I have had 4 square capital loans. However, I am at 88% paid and have not received a new offer. My sales are about the same for this time of year and I could really really need a new offer for new inventory. I have absolutely no complaints, just need an offer! I have paid some extra when we have cash sales so I could bring the balance down! I just wish It was a consistent as before! I have friends that I have recook or square and will continue to do so!

Re: Low Capital offer, how often do they review accounts?

LaDora — Mon, 21 Aug 2017 14:08:30 GMT

Hi @Sadiebaby1,

Thank you for proactively using your cash sales to pay down your balance.

Once the prepayment has been submitted it takes up to two weeks for payment confirmation. Your business will be reevaluated for a new loan offer after the payment is confirmed. If you’re eligible, you’ll be notified directly on your Square Dashboard and via email.

Re: Low Capital offer, how often do they review accounts?

Sadiebaby1 — Thu, 24 Aug 2017 13:26:36 GMT

Thank you so much!! I have absolutely no complaints about square...we have been using it for about 4 years and I have never experienced any problems with deposits, etc. our customers LOVE ❤️ the loyalty program...they love to see the ✨! I highly recommend square to others. I will keep the faith that I will get another offer soon...we are going into our busy fall season in the mountains and could definitely use for new and exciting inventory to keep our customers happy and to bring in new ones!!

Thanks again.

Re: Low Capital offer, how often do they review accounts?

airfishauto — Tue, 29 Aug 2017 19:51:06 GMT

def keep the faith, were in the same boat but ours is paid off.......

Re: Low Capital offer, how often do they review accounts?

fatbodie2 — Wed, 13 Sep 2017 16:21:49 GMT

Good Morning!!!

Just curious - I just finished paying off my second capital loan offer yesterday. I did Pre-Pay it in hopes of receving a new offer! What has everyones experience been in how long it took to receive a new offer? They took the Pre-pay amount I paid directly from a pending charge that I had to go through so they have already received funds. Was really praying and praying for a fast response and a new offer! Any experiences anyone can give or any insite from a Square Admin?

Thank you so much!

Re: Low Capital offer, how often do they review accounts?

ecantiques5 — Wed, 13 Sep 2017 16:41:24 GMT

@fatbodie2

Once you pre pay in full, they allow for UP to 2 weeks before reviewing your account again. It might be a little quicker than that since you used processed funds for repayment, but I would plan on a 2 week turn around.

Perhaps one of the admins or Capital Reps will be able to take a look at your post and provide additional guidance.

Best of everything to you 😊

Re: Low Capital offer, how often do they review accounts?

fatbodie2 — Wed, 13 Sep 2017 19:16:32 GMT

Thanks for your response! I received an email today congratulating me and that my capital offer has been paid in full. so they definitely have the funds and consider it to be a done deal....hopefully I get one soon. Last time it was three days after my last pay offf sate that I received my next offer. I am not even entirely sure how to get one of the admins to see this....o h well 🙂

Re: Low Capital offer, how often do they review accounts?

hmilesphi — Thu, 14 Sep 2017 03:58:06 GMT

I'm in the same boat. I paidoff my loan off back on 8/31/2017 and got the email stating the payment was completed. I have yet to receive a new offer.

Re: No response from anyone

Omgreally — Thu, 12 Sep 2019 02:37:14 GMT

Exactly. @Russell this is why Square Capital is useless for true business needs. Entrepreneurs need to have capital available when they see opportunity. Waiting for an offer works if you want to buy a car or have discretionary spending cash. Investment opportunities, however, don't wait for algorithms. EVERYONE: if you see opportunity, seek alternate means of financing. You'll miss your opportunity waiting for Square Capital and they won't hint if an offer is on the horizon or not.

Re: Low Capital offer, how often do they review accounts?

Alex_ — Tue, 17 Nov 2020 21:45:43 GMT

Hello @gsxrfathead

Thank you for posting in the Seller Community. Welcome.

Please check out our Capital FAQ page for any updates and commonly asked questions. If you still have any questions, please contact our Capital Teams for further information. They will be your best resource during this time. You can reach them via email here, or by giving them a call Monday-Friday, 8am-5pm PST.