Square Loans and Risk

[Marystacos530]

I Need to know why this is an issue we've been with square for years now and have gotten a 9 loans back to back NOTHING HAS CHANGED so why is it that it is being said that were a risk. When we've gotten bigger loans from square that we've paid back i feel this is going to be the death of us how can we continue to do businesses together if theres no trust between us.

[Candlestore]

@Marystacos530 ;

Square loans are based off of your credit card sales which you probably know, the problem right now is the high costs of EVERYTHING.  The financial markets are predicting a recession, which might have banks and other loans on hold or higher criteria now for loans.  So you being at "risk" might be because your cc sales are lower now, even though your cash sales might be higher giving you the same income.  

[Donnie-M]

@Marystacos530 I have to say that it is impossible to find out here the exact reason for a loan denial as it is account specific information.  I also know it is frustrating when you are banking on a "life line" or "sure thing" because of the past history you have with the product.

You can always just look at your reports and sales trends, and that might tell you if you are way down year over year could be an indicator of something that square is looking at.  I also look at transaction count, as it sometimes indicates a better overall health of a business that gross volume.