Square Loans...How long is this going to take?

[Johnnyk180]

How long is this needs work going to stay on my loan metrics? It has been 10 months! A customer mistakenly filed a dispute on 2 invoices. He is an elderly gentleman and was confused. He repaid a new invoice to cover the mistaken dispute and since has been a repeat customer serval times. This is absurd and I've explain this to square and of course get the same script written response everyone else does.

[Minion · Accepted solution]

Hey @Johnnyk180 

Sorry to hear about the lack of timeline with the process.  It's the most frustrating things with Square Loans is the uncertainty.  But because of the way the loans work, with "minimal" human overview this is one of the drawbacks.  I want to say I read before in one of the huge loan threads over the years that a few other sellers mentioned somewhere around the year mark for them after their last charge back.  Everyone's business is different and the algorithm is.....unique so I don't think anyone can give you a definite answer. 

[kacey_k]

I remember reading a year as well about this topic awhile back ago. 

[Johnnyk180]

Yes, I read all through the threads. Its absurd to me the way the handle certain things through loans. I will just run this business through my other processor until they decide to remove it. Someone else can make money off of me until then lol

[Minion]

Yeah I dont' blame yah.  Definitely need to do whatever makes the most sense for you and your business.  That is just one of the drawbacks of minimal human interaction when it comes to loans, but that's not just Square.  Every processor that is lending is going to have some sort of "standard" when it comes to eligibility and charge backs,