Hi! Just wondering if anyone has been declined a loan for “cash advancing” and got a new one, and if so, in what time frame?
Early October I got a loan offer, I applied and then they denied me due to “cash advancing”, I was unaware I was not allowed to spend money at my shop.
I’d paid for a best friends baby shower bar tab as her birthday and baby shower gift and hosted her party. (Basically only one big round of drinks). This got flagged as cash advancing as I am the owner of the bar. I stated this but apparently wasn’t a good enough excuse and have since completely paid off my original loan and have been 100% completely but no new offers and the “needs work” for prior loan decline hasn’t gone away.
Would love to know how long people waited for a new offer after a decline as Square Capital is the main reason I’m with Square and not gone with other POS systems who’ve offered me better deals.
