What is your exact guidelines for distributing Square Loans?

[Twogirls1BUCKET]

What is your exact guidelines for distributing Square Loans? I dont understand the methods and reasoning behind offering a business something and then not seeing their growth-and not offering them anything? I see people are being offered loans at 26%-My business had over $80k in sales last year, and this year-with winter being slow- I still have over $6500 in monthly average, that will increase next month, and I have less than my loan fee due on the current loan.

The title of this post has been edited from the original: Re: Ask the Community Anything: What's your Question of the Week? 🧐

[Sammie_C]

Hi @Twogirls1BUCKET!

Thanks so much for posting!

It’s important to everyone that lending through Square is done responsibly. We know your business is important and we don’t take that lightly. We want you to be successful and we support your future growth.

To help ensure you get an offer that’s just right for your business, Square Loans reviews accounts on an ongoing basis. Eligibility and offers are based on a variety of factors including payment processing volume, account history, and payment frequency.

There is no additional information we can share at this time because eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. The formula balances different factors of your business that may positively and negatively affect your business’s eligibility for an offer.

Feel free to reach out if you have any other questions!