Square loans with 1 dispute

[Dhgaming]

I own a Fleamarket and Video games store.

So since being with square for about two years. I had only one dispute, which I later found out was maliciously made by one of the former vendors, that was withdrawn by the vendor who made it. So I ended up winning the dispute.  I still haven’t decided if I will sue the vendor yet. 

so now even though I have paid off all my square loans early, within 3 months,  it seems I’m at not eligible for one because of the one dispute. Anybody else have experience with this? 

All square does when I reach out is give me a scripted ambiguous answer and no real insight. They don’t even seem to even hear the questions I ask or attempt to answer them.  This is really frustrating as I want to do some Renovations in the upcoming slow months. 

Am I better off selling the square register and going with Shopify so I can start making progress towards actually beginning to get capital loans again? 

[Minion]

Hi @Dhgaming  

First off welcome to eh Square Community.  For anything that comes to loans, we (other sellers) are really just using educated guesses based off the thousands of posts here from other sellers about their experiences with the process.   Its a good thing that you won your decision on the dispute from the vendor.  Disputes do have an effect on eligibility I think internally on your account, negative ones do more so than positive ones so its possible that even though you won that one, there could be something in the algorithm on your account that is triggered automatically.  ( again just an educated guess here). 

How do your "metrics" look?  These should be used as a guide only, but if they are all green then that is a step in the positive direction. 

What is your end goal for your business?  Have you considered reaching out to your local bank that you have your account with for a loan or a business line of credit?  Only a bank is going to give you that one on one personal connection, not Square, Shopify, QB, Stripe etc.  

[Dhgaming]

My metrics are amazing and we still are making good profits. And I already have a relationship with a bank and credit union but I rather go through the channels I have been going through. Any other option would have me personal guarantee a loan and I don’t want to do that just yet until in the later stages of my business. 

my question is with how vague square loves to be would it be in my interest to build a relationship with another payment processor so I can continue to use capital loan options or wait square out using the rules we can’t see