Im 91 percent paid. Im.not looking for an extension, im looking for new funding! We have been loyal

[Harveysmoving]

Is square capital done?

Im.91 percent paid and I need funding 

[Platinum1k]

I'm 97% and nothing yet. So frustrating I'm on loan #8 and could also use the push for my business. Smh hopefully square can do something asap

[Regina_B · Accepted solution]

Hi @Harveysmoving and @Platinum1k. 

Regina from the Square Capital Team here. Thanks so much for your posts. We understand that the current state of things are very uncertain for you and your business. The COVID-19 situation is presenting many challenges to small businesses and we are working for solutions to support our sellers. If your business becomes eligible for a loan through Square Capital, you will see loan offers in your Dashboard. 

If you’re looking for other potential sources of funding, you can also visit this list of national and state business financing resources that we’ll continue to update in the days and weeks to come.

[Harveysmoving]

Square capital. 

We have all seen that same copies message before, we are interested in real news.

And if you guys want to keep your customers after this debacle. I strongly suggest some kind of at least fake consideration. Thank you.

Someone  who is on loan#6

[ecantiques5]

@Harveysmoving @Regina_B @Platinum1k @

I do not understand why we should expect anything different  from Square. Likely all we loyal long time sellers  will get is the standard business numbing reply " keep watch of your dashboard, keep processing " Hello Square Capital..... your  sellers are wanting to know if Square was indeed still supporting a capital program to algorithm qualified sellers.  Are they being offered or not? 

I am disappointed that Square has not offered your sellers a direct path to the SBA EDIL /PPP loan programs. Both Paypal & Clover were able to get their clients set up with an application process. Now the funds are gone there will be no more until Congress approves more. We have been with Square since 2013. Been through all the waiting and hanging on for an algorithm offer for 11 loans. All have been paid ahead of time through processing revenue. We are at 80% paid back on our 11th or 12th loan, and have sales to date of nearly 100,000.00 since Jan. 20,000.00 even so far in this unprecedented month. Nothing from Square Capital. It just gets old!

[BrownButterNOLA]

We completed our 8th loan in January 2020.  We had a standing over, well over 6 figures.  We waited to pull the trigger on it, until we needed it.  The week that the shutdown began, the offer disappeared.  Not just for me, but most likely for all Square Capital users.  Not a coincidence.  It makes sense, they knew that *most* sellers would experience a massive drop in sales, thus making the original loan terms available to them.  

It sucks.  Hopefully they can get some Capital loans together again for the future, but I wouldn’t count on it in the near future.  

[Joe]

Thanks for adding your voice here, @BrownButterNOLA. As Regina mentioned above, we will continue to let Sellers know if and when a new offer has been extended. 

We are evaluating all options to support sellers, but have nothing to announce at this time. If you currently have a loan through Square Capital, please reach out to Capital servicing if you’d like to discuss ways we can help you with repayment options.

We appreciate your patience!

[ecantiques5]

So @Joe @Regina_B 

Are Square Sellers that are algorithm eligible still being offered captital loan offers? Yes or no.

[Harveysmoving]

That's a big no. Most of us are algorithmic eligible. 

They shut down the system 

[ecantiques5]

@Harveysmoving @Joe @Regina_B 

It is nearly sickening that Square would do this to sellers that are pulling through and processing revenue due to the nature of our individual businesses. We have been very fortunate to take revenue from our online presence. If this is true, it's time to find another payment processing option. There are many others to consider. Its great they (Square)offered repayment relief to those that were not able make make their scheduled payment. But to punish sellers that are  still running sales by not offering capital is discusting at best.

[Harveysmoving]

Square is a little more costly than most processors. 

I've stayed because of square capital. 

For their sake,  I hope they come through!

[murrietaPC]

I used to use both paypal working capital and square and for some dumb reason I decided to use paypal just for ebay and square for my local store.. when paypal aproves you, the money arrives in 5 minutes.. Since most of my volume is with Square, i dont qualify for one at paypal, so since i paid Square 6 months ahead of time, I will probably start increasing my processing there so I can meet their minimums... If I had stayed there, I would be on my way to a PPP loan as well as they made them available as soon as they were allowed, so expect square to lose some customers

[ecantiques5]

@murrietaPC 

Its a shame Square seemingly has zero regard for their sellers with regards to working capital. I assume that most of us have gotten used to the robotic ritual of their algorithm offers. As I have stated in previous comments on the boards, Square has upgraded many of its product but since 2014 their capital program has been the same old annoying watch your dashboard and keep processing. Seriously don't  you think its time to update this program to be more compatible with your seller needs??

I get the frustrating with Capital...you know kinda used to it after 11 capital offers.  But I am Really discouraged and discusted over the fact that Paypal, Clover and perhaps many other processors were able to secure a path for their sellers to access the SBA PPP. You just lead us along, and now there is zero funding until congress approves more. Any admins with commentary?? Nah...didn't think so.

[Harveysmoving]

My business hasn't completely stopped.

I dont need help or extra time repaying

I need new funding!

I'm at 92 percent. 

[SavannahiDoctor]

I like how they keep responding with this copied and pasted response each time its brought up. I’m on like my 7th 8th loan and its odd that I still have no offer. It’s cool though. A friend of mine uses Shopify and he has had no hiccups with his capital through them. Square better get it together because they will loose a lot of business. I’m already looking forward to pay it off in the next week. At least I won’t have any fees coming out of my payments. I’m definitely looking at other options after square pulled this off with their longtime customers. My sales have actually been up with corona virus fortunately.

regardless of what they say I’ve seen no one state that they have gotten a renewal offer lol. So its obvious it’s shut down right now.

[Sniffy]

So I stumble upon this thread and read every post.  Sounds like my situation except I think I can add misery to this.  I have multiple locations with over 10 loans each. I am opened as essential business in Florida.  I am 100 percent paid. NO NEW OFFER.  I don't like it but this is a never before time.  The 2008 recession will pale to this.  Businesses are in such bad shape by forced closing...would you loan yourself money at this time?  Will your bank?  Will your CC company raise your limit?  NO, they do whats right by them.

Be fair.  It will take square time to see the path. I'm not happy about it and I too need cash influx. I believe it will be 3-4 weeks into a successful state economy reopening and investors(Square) are watching.

[murrietaPC]

While I see your point.. If Square really monitor their customers , they would be able to differentiate between a business that went down on processing in the last 5 weeks, and businesses that have experienced larger volumes

[ecantiques5]

@murrietaPC @Harveysmoving @SavannahiDoctor @Sniffy @Joe 

I called into Square Capital today and spoke with Katie. I ask her several times if they were offering loans to sellers that were still processing revenue and were algorithm eligible. I Was advised the normal "keep watching your dashboard and or email " I told her I understood that but my question was a yes or no are the capital offers still going out. It took times asking this and then finally there was the "YES" loans were still being offered.  So... was not greatly comforted with the call. I will try to call again and see what response I get. What a way to navigate through covid19.  Square you folks should be stepping up a notch on sellers assistance. Your sellers were not connected to a pathway for the SBA'S PPP 

[Harveysmoving]

What's the number for square capital?

[ecantiques5]

@Harveysmoving 

This is the # I have always used. Sometimes you have to have a customer ID # but they did not ask for that the last time I called. They just wanted my full name and log in email. After your call is picked up I think it is option #1 to speak to Square Capital.

[ecantiques5]

@Harveysmoving @murrietaPC @Sniffy @SavannahiDoctor @Joe 

Good Saturday afternoon I wanted to givevan update to some information I was able to research today. I did call in to Square Customer Service today, and the lady I spoke to, ( although not from the capital dept. Just regular customer service) did assure me that Capital Loan offers were still going out to Algorithm eligible sellers. She was very nice, understanding and seemed to have valuable verified knowledge. She did recommend that I reach out to the capital dept on Monday. So that is my plan. Then while doing google research I did see that Square was approved to work with their sellers on SBA grants/loans. I have just not received an email indicating the steps I needed to take. 

I really do appreciate the Square ecosystem and I do not want to excessively negative or disgruntled as we have been loyal, honest, revenue producing sellers for a long time.

Wishing blessings & brighter days to all ❣