Hello!
On January 2023 I received a loan offer of $8600 plus the square loan fee of $1360, the loan was approved and deposit on February 1st, now Im in 73% of payment, everything in my loan dashboard is in green and in good standing, I just want to know is there a % that makes the system offering me a new loan? I’m about to open a nee location and I need a new loan asap in order to fill the inventory. Thanks
Hi @gunpolisher. There is no percentage. Nor is there anything you can do to make a loan offer happen any quicker or on your schedule. I know people who have received new offers at 80%, a few at 70%, and I know others who did not receive an offer until weeks after their last loan was paid off.
The point is I would not count on Square to send you an offer to fill inventory. Find another way to make that happen. It is never a good idea to make plans assuming that Square will offer you a new loan by any fixed date.
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