Hey @ramziq1. So the answer to your questions is not exactly simple. But here goes…
- Yes, you can receive another loan offer from Square.
- Sometimes, the Square Loan algorithm sends offers when we are close to completing our existing loan. But there is no guarantee this will happen, nor when it will happen. Lately, many people have completely paid off their existing loans and then waited weeks or months for new offers to appear. You just have to be patient.
- You can’t apply or ask for a new loan offer. When the algorithm decides it wants to send an offer it will, and that’s that. There is no human intervention for this.
- No one can tell you what your new offer, if any, will be. It will be based on your card processing volume, your growth rate and many other factors. You won’t know how much until you receive the offer, just as with your first loan offer.
I hope that helps.
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!
