Request to review account for new Square Loan offer

[sirrahde]

I find the Square Loan funding to be lacking. It would appear it is operated solely via an algorithm. I have enjoyed several loans in the past and was more than satisfied. That being said, the program appears to no longer be functioning hence I have begun to search other capital suppliers which will also inevitably mean changing to their card processing system. I have been pleased with service but clearly they are no longer interested in me or my 93 year old thriving company. 

[Laura123]

Hi @sirrahde,

Thanks for your post on the Seller Community and for sharing your experience. We appreciate your loyalty when choosing to partner with Square for your past business loans. Please know that your loan history is reviewed in determining loan eligibility, but there are other factors of your account that are also considered.

Currently, offer eligibility is based on payment processing data, which means eligibility can change as frequently as your business does. Loan processing data includes your processing volume and your processing history, such as failed debits, chargeback history, and changes to your processing behavior, among other factors.

We understand that it is frustrating that we can’t guarantee that you’ll receive a new offer because you’ve had previous loans with us in the past.

Square accounts are reviewed on an ongoing basis to ensure that each business gets the right customized offer. We can’t predict if or when your business may be eligible for an additional Square loan, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

Please feel free to contact us directly if you have any other questions.