Square Capital Renewal

[trudy]

Hello!! I am currently 67% (in under 5 months) paid on my second loan which doesn’t mature until March 2021. Paying back over $21k in 4.5 months would have most lenders offering renewal already. My last loan was renewed at 70% which I know doesn’t matter because “each time is different”.

However, I am in need of additional capital NOW due to the state of emergency COVID19. 

I have new and returning customers, maybe 1 chargeback a year, consultant $20k+/month in credit card sales.

It seems lenders want to help small business during this hard time - I want to stay loyal to Square, can someone please contact me without a generic copy/paste response?!

[BrownButterNOLA]

I can tell you this, we had a substantial loan offer (100% paid on our last one for the past 2 months) that was on the table until sometime Wednesday morning, and then it just went away.  Leading up to that, I was getting daily email reminders that we had an offer out.  Next thing you know, it disappeared completely.  

[trudy]

Well that’s scary! I wonder if instead of helping clients during this time Square is planning to do the opposite and freeze loan offers...

[Teatalk18]

I paid my loan off Thursday and was hoping to pull another loan on Monday but it doesnt seem very likely.  I hope they arent doing this to us. They apparently know how bad this is therefore should know many businesses are closing or have closed and we would like to help our employees out to.  This is very upsetting for many of us in the same situation.  Good luck to you!

[edeh1964]

I was reading the post that was made back in March on the renewal situation and I wonder if you were able to get an offer since then ?  I am asking because I am in a similar situation.

[trudy]

I paid off my $28k loan in April (it was paid off in 5 months). 

Finally in September I got an offer but only for $9k so way lower than any previous offer.