Hi @nsi7301. According to the loan agreement, the terms of the loan can not be changed like this. The daily payment rate will be applied to all sales until the loan is paid in full. Also, if the minimum amount is not made every two months by daily repayments, then the balance of that minimum payment will be deducted from our balances per the loan agreement. This is one of the drawbacks of loans (really, merchant cash advances) like this.
Having said that, it is possible that you could reach out directly to the Loans team. Here’s a link to that contact information. I do not recommend email but rather that you make the effort to call them and speak to someone. I’ve heard that they will work with sellers who can prove a financial hardship, sometimes. But understand that this flexibility — if it exists — usually is not granted just because we want to pay less than what we agreed on the schedule we agreed to. The few cases I know that terms were changed involved provable and severe financial distress. Still, it can’t hurt to try.
Good luck.
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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