Denied a square loan, after paying off three loans and 90% paid on my forth loan?

[Jeffslakers24]

Been a customer with square for almost three years, I have paid off over three loans and am 89% paid off on my forth. I've been denied a new loan after it was offered to me already. This happens to be my slow season with tourism down and alot and especially after loosing the Chargers to L.A. Jus waiting for my loan to purchase a new delivery vehicle to expand my delivery range as one of my trucks tranny jus went out. I thought loyalty counted for something these days, but I guess not 

[LaDora]

Hi @Jeffslakers24, 

I am sorry to hear about your truck!

Being declined can be frustrating, so I recommend that you visit our Support Center FAQ to answer any questions. Please know that it is possible to become eligible for another offer after a decline, but there is no set timeline for any potential offer. 

[Jeffslakers24]

Oh I'm still gonna get my truck, I'm jus concerned with the way my loan was denied, I understand business is business and I really don't want to take mine anywhere else. You guys have been good to me and I hope we can continue to do businesss together. 

        UPDATE: I finally got my truck, not the one I really wanted, but a very reliable one though. Instead of a new one I got a used one, a lot cheaper used though. If i would have got my Square Loan I would have had a sweet delivery truck with all the bells and whistles and a nice warranty but hey it is what it is!  It's here jus in time for the holidays, my loan is very near completion hoping to see a Square loan in my email here shortly! Any kind of help with my business in the winter months is a blessing, I'll be completed with my forth loan from square before the end of the month, here's to hoping someone is listening on the other end. From a long time customer I would welcome some help in  the months ahead!!

[doctorsn1]

Hello Squareup.  I was offered and paid off a loan without problem a few years ago.  This is not Covid related.  Please respond.

[Laura123]

Hey @doctorsn1,

Thanks for your post and your interest in another loan through Square Loans.

The Square Loans program is currently offered by invitation. Offer eligibility is largely based on current payment processing data, which means eligibility can change as frequently as your business does. Because businesses are dynamic, we’re unable to guarantee loan offers through Square Loans.

Your account is regularly evaluated for offer eligibility based on many different factors. If your business satisfies one or more of the criteria, your business may still be ineligible if it does not fulfill other eligibility requirements. To learn more about Square Loans eligibility, visit our Support Center.

At this time, we can’t predict if or when your business may be eligible for an additional loan offer through Square Loans, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

Please feel free to contact us directly if you have any other questions!

[Tonyc]

Really don’t understand there thinking, I have paid of 12 loans all well before due time recent one was for over 12k and was paid of in less than 3 months yet I am now ineligible for a new loan?? This year I have processed much bigger amounts but I was told I was refused because of inconsistent amounts lol!!! Not sure who makes all the decisions the whole idea of these loans are to help your business grow and encourage you to use there system? You think the person reviewing would see you have been consistent paying off your loans!!