Loans?

[JW10]

I had an offer for 42,000 and when I paid off my existing loan early, that offer disappeared. Then they gave me a new offer for 4,700. This is ridiculous. Sales are strong, etc. That is close to a 40,000 drop. Makes no sense. All loans paid back early, please advise? I like square but may revisit other platforms as a result.

[Minion]

hi @JW10 

did you pay off your existing loan "early" through CC sales or a manual payment.   I would say 90% of Square customers pay their loans off earlier than the amount of months that are allowed.  

If it was a manual payment and it just cleared today I would wait another 7-10 days and see if a new offer generates.  As we all know offers are not guaranteed to come back. 

I do remember reading over the last year here that Square has been offering significantly smaller loans to people so that they are easier to pay back and not act as a burden if something unexpected were to happen.