@hum3kimp I wouldn’t be too surprised at the drop. This is not just happening with Square, but with anyone who lends money right now. The uncertainty and instability in the market and in the economy is causing most lenders to be much more conservative than usual with how much exposure they have on their balance sheets. And it is looking like today the Fed is going to increase the base lending rate another .25%. It’s getting very expensive for borrowers every day (I’m betting but can’t guarantee that my next Square offer will come with a higher fee). And it’s getting more risky for lenders every time the rate goes up, even if it is just .25%.
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!
