Detailed data on eligibility for new Square Loan offer

[rjonin]

Have you all seen the Square Loans portal lately?  There's a lot of detail about how your business ranks with Loans.  

It gives insight into so many things. Square list these as key factors to determine your elgibility for a new loan offer, like processing volume, projected growth, processing frequency and other things that are taken into account by the algorithmn. Factors are listed as "GOOD," the highest or "NEEDS WORK." It evens shows the last date that info was checked/updated.

The information is shown in text & graph format.

There are a number of coomunity questions about how loans are determined, when is the next offer...but this new layout is quite helpful. 

[HC_Charlie]

@rjoninthanks for this post. I did notice the Loan dashboard had changed, but didn't realize I could click on the more info link to see the charts and data you reference here. The more info that is shown about Loans and how they work, the better I think for more sellers to utilize this feature.

[vickie_]

Hi @RJONIN,

Thank you for taking the time to reach out! 

You can use the eligibility page located in your square dashboard to gain more insight into the status of your Square Loans eligibility. We take your business’s data and compare it to key factors that determine eligibility, such as processing volume, payment frequency, and account activity. If any of your eligibility factors need work, you can look at the tips we provide to strengthen your chances of becoming eligible.

Please note that there are many factors that may affect your eligibility, and accounts are evaluated as a whole. Do not rely on the information we provide in the Square Loan eligibility page to predict a loan offer. We cannot promise a loan offer, even where all of the factors on the eligibility page are “Good.” If you become eligible, you’ll be notified directly on your Square Dashboard and via email.