Will a dispute ruin my chances of my next Square loan I’m due for in the next week

[Michele-Adler]

I’m almost there for my next square loan, but I have a dispute will that disqualify me completely I’m looking forward to my loan I am so worried 

[ryanwanner]

Hello @Michele-Adler !

Unfortunately none of us either here in the community or via support can completely answer that question. The algorithm takes quite a few variables into consideration when determining when a seller is ready for a loan, and there's not a lot we can do to push the consideration in any direction.

With the current state of the fintech industry (and the world in general), I can say that loan approvals are still happening but with a lot more specific requirements needing to be met, including factoring active disputes. Where you may have seen a new offer at 70-80%, quite a few offers are coming in at 95%+ nowadays.

The best thing I can recommend is to pay attention to the loan eligibility page on the dashboard and continue to hammer away at your business. Now more than ever you'll need to prove to the algorithm that your business is capable of handling the increased debt load.

[Twpchair]

I'll 2nd everything @ryanwanner said. How current and how many have you had “recently” and 1 more how long have you been with Square? There is a ton of information gathering in that algorithm nonstop. He is right keep pushing hard on sales, swipes, amount of swipes, and new customers. No more since the last one? 

[Abby_M · Accepted solution]

Hi @Michele-Adler 

Thanks for posting on the Seller Community.

Recent disputes on your Square account may impact your eligibility regardless of the outcome of the dispute. Eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. Loan offers are also based on a variety of other factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. While you are not currently eligible for an offer, your account is automatically reviewed daily to determine eligibility. 

Please contact us directly if you have any other questions