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jamrockbg

Over $100,000 processed yet no Capital offer?

Hello...We have processed over $100,000 since Oct 2018. We process daily. We have been using Square exclusively for 9 months. The majority of our daily sales are credit card sales averaging $11,888 in monthly sales. Most of our customers are recurring. We have NO charge backs. And we only have ever had 1 square account.  We use the Square Reader through our phone. We have never received an offer for Square Capital. I don't know what else we are missing in order to be considered for a Square Capital offer.

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Admin

Re: Over $100,000 processed yet no Capital offer?

Hey @jamrockbg ! Thank you so much for posting in the Seller Community!

The Square Capital program is currently offered by invitation. While you are processing with Square, Square Capital automatically reviews your processing activity to evaluate loan offer eligibility. We are unable to predict the timing of potential loan offers, however, if we spot that you are eligible to apply for a loan through Square Capital, we’ll proactively reach out to you (through email and in your Square Dashboard) with a customized loan offer. Offer eligibility is largely based on current payment processing data, which means eligibility can change as frequently as your business does. Please let me know if you have any other questions!

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jamrockbg

Re: Over $100,000 processed yet no Capital offer?

So, I finally got a capital offer for $5500. The offer was made on the 3rd of Sept. It said it could take from 1 to 3 business days for the release of the funds. We are now on business day 5 without any new information. What could be the delay?

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Admin

Re: Over $100,000 processed yet no Capital offer?

Hi @jamrockbg,

 

Thank you for letting us know! I have sent you an email regarding this issue! Take a look at your inbox and we can talk more there! 📩

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