Why was my loan offer denied

Abethemanulan

I got a my 3rd loan offer after paying all loans previously received on time, and even before the time the reason they denied my loan is

Your business is not current on repayment with either your existing Square loan or a Square Credit Card. We are unable to approve additional financing to businesses that are not current on repayment.

i i’m current on all my past names and I don’t have a Square credit card. Can somebody help explain what is going on

TheRealChipA

@Abethemanulan Here is the contact information directly to the loan folks. They are the only people who can investigate this for you.

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!

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Papaya

Hi @Abethemanulan

Thank you for your post!

I took a look at your account and see we followed up with you via email regarding this decline. Please review the email sent for additional information and feel free to respond with any other concerns you may have.

Hope that helps, please feel free to reach out to us directly if you have any other questions!

Sky
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

View Solution >

TheRealChipA

@Abethemanulan Here is the contact information directly to the loan folks. They are the only people who can investigate this for you.

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!

Abethemanulan

Thank you I have already contacted them. I was wondering if anyone in this community had a similar situation?

Papaya

Hi @Abethemanulan

Thank you for your post!

I took a look at your account and see we followed up with you via email regarding this decline. Please review the email sent for additional information and feel free to respond with any other concerns you may have.

Hope that helps, please feel free to reach out to us directly if you have any other questions!

Sky
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

intlogistics

I too just received denial due to below. I don’t really understand as I do not have any other accounts with Square. I would imagine this is going to affect any considerations for future loans or even for their credit card I am waitlisted for. Kind of a bummer as I have been marketing the credit card payments for my clients like crazy trying to get more cards and less ZELLE / ACH / WIRES.

“Using internal data and other identifiers, we have determined that your business is related to another account with a Square Loan whose card processing has declined.