Loan Eligibility

[HampshireS]

Hi

How hard is it to become eligible for a loan with Square? (in the UK)

I've been using square for a few years now, and consistently do at least £5000 on average in card sales per month. But never had an offer?

Also, the eligibility page which shows the different eligibility categories and whether I'm doing good or needs work, was showing up the past few days but then this evening has disappeared and can only see 'Not eligible at this time etc' none of the factors.

I was green on everything with the exception of processing frequency as this week has been slower than last week.

Thanks 

[Sineaid · Accepted solution]

Hi @HampshireS,

Thanks for reaching out to your fellow Sellers and moderators for some insight into this. Welcome to the Community!

I appreciate that the automated nature of the Loans eligibility process can be frustrating, especially as a long-standing Seller.

And while it is difficult to say with any certainty why your Loans Dashboard now only informs you that you’re currently ineligible, please do be assured that account activity is regularly reviewed. So, it is likely that the indicators on your Dashboard will be updated when your account meets the minimum criteria for consideration again.

As you know, the main factors impacting eligibility, such as payment volume and frequency, are tracked on your Dashboard. However, there are some other contributing factors which you can learn about from our Eligibility FAQ.

[KarenH2]

I’m the same, only thing I can think effects it is I only open 6 days not 7, my takings are consistent and my card payments are 90% minimum of takings, I don’t think the eligibility can work right

[HampshireS]

I've no idea. February I did over 10k in sales, still nothing, can't even see the eligibility page 😞