Minimum time to have a square loan??

BuckeyeOH · ‎09-15-2023

Hello. I am just curious if there is a minimum time requirement to have and pay off alone before you can be considered for a renewal. I’ve only had my loan for three weeks and I’m already at 74% paid off with my sales skyrocketing and I just kind of figured I would get a new offer by now, but no such luck. Does anyone know if you are only eligible every 2 or 6 or however many months??

TheRealChipA · ‎09-15-2023

Hi @BuckeyeOH. There is no set timetable. Since you say that your card processing has greatly increased, I would expect that you’ll see one shortly. But there are no guarantees. I can tell you that many sellers (myself included) have noticed that new loan offers are coming later than they used to, and some don’t see a new offer until they are completely paid out of their current one. There is nothing to do except wait for the offer to arrive. II know that’s not the answer you were looking for, but it is what it is. I wish you well!

Chip A.
Square Expert & Innovator
(But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a possible "best answer." I hate the term, and wish we could just mark posts as "helpful." But this is our only mechanism at the moment. Just remember "Best answer" should be interpreted as "helpful," and nothing more. LOL. "Best" (ugh) answers help folks possibly find solutions to similar problems they are hoping to solve.