No new loan offers with 82% paid on current loan-Are we missing something???

[La-25]

We have had 4 loans with square with a perfect payment record of early or on time payments. We are also green with the entire list of areas reviewed. We assumed with everything compliant that we could rely on continued Square support. In 2 weeks, we will be forced to cancel a month-long special event that has produced the most single event income every year during the past 7 years.

[Twpchair]

Unfortunately, there is no guarantee regarding when or if the algorithm will select your account. Loans are still being issued daily, and the percentage is averaging 85-95% course, there are still a few accounts that pop in around the 70s, and a good handful paid off. The moderators have a post pinned at the top of the page; if you click on “click here,” it will explain why this is happening and how it benefits business owners. I understand that this may not provide much comfort right now, and I sincerely wish you the best. Hopefully, something will trigger a second review of your account. Please keep us updated, as your experience could help others who are waiting.

[marielmt]

Hi @La-25 !

Thanks for posting on the Seller Community.

We can’t guarantee a loan offer even if the key factors displayed on the eligibility page show all “Good.”

There are many factors that affect loan eligibility, but the factors listed on the eligibility page are key factors we consider to help you understand our process. There’s no additional information we can share at this time, and we can’t go into further specifics about program requirements because the criteria we use is proprietary.

We will continue to review your account daily for loan eligibility. If you become eligible, you’ll be notified directly on your Square Dashboard and through email.

Please contact us directly if you have any other questions.🙂