square loan question

[Dentco]

Hell all- first time here.

Just paid off a loan and did it in half the time they estimated it would be paid off and much more aggressive than the daily 8% they deduct. I had an offer for another loan about half way thru it then they rescinded the offer and now none are shone. I would have thought with our business trending up about 30% over last year and paying off a loan which they made over $6k in fees alone would have prompted them to win  with us a again. Any idea why no loan offers from Square ?  TIA, Brian

[Sammie_C]

Hi @Dentco!

Thank you for your post!

Offers through Square Financial Services are only available for a limited time. You’ll continue to see an offer for as long as you are eligible. Offers are based on a variety of factors, including recent Square processing volume, payment frequency, outstanding balance, and account activity.

We are continually re-evaluating your account on a daily basis to determine if you’re eligible to receive another loan.

If you’re eligible for a new loan, you’ll be notified directly on your Square Dashboard and via email.

If you’re not immediately eligible, we’ll continue to monitor your account as your eligibility may change at a later date. We determine eligibility based on many factors including your processing volume and Square history. To learn more about Square Loan eligibility, visit our Support Center.

Let us know if you have any other questions!

[Dentco]

Thank you.  What if I told you we process more money and transactions  than prior to the loan ?  It seems square doesn’t offer loans based on info beyond the merchants -

We were loaned 50k and paid back almost 8000 in just 3 months.  
that’s tremendous interest for a bank and I’m floored they won’t take that again and again.  Other banks would give their thumbs for profit like this 

[Sammie_C]

Hi @Dentco!

We appreciate your response and your feedback.

We can’t go into specifics about program requirements because the criteria we use is proprietary. If your status changes, you’ll get an invitation email and see your offer there.

Feel free to give us a call at 855-897-1838 and we can always take a look at your account.

Let us know if you have any other questions!