We’re investigating an issue related to Square Capital payment reporting that has been impacting some sellers with loans through Square Capital who use our Business Banking card.
For affected sellers, loan payments made through daily card sales are being displayed in their Square Capital Dashboards as a single "Pending Square Capital Payment." We can confirm that this is solely a reporting issue and that loan payments made through sellers’ daily card sales are being applied to their loan balances as usual.
Our engineering team is working to resolve the issue and we will post updates here as soon as additional updates are available. There’s no action needed on your part at this time. We understand that this is not ideal and we apologize for any inconvenience.
This does not impact the Square Capital repayment rate, which will continue to be applied to your daily card sales until your loan is paid in full.
I’ve been paying back my loan and for the past week it says “pending” when does this go through? I want to be re-evaluated for a new loan, but it doesn’t seem I can if it’s not processing correctly.
I moved your post here for visibility into this issue.
It looks like our engineers are aware of it and working on a fix.
This also won't affect your eligibility for a new one so no worries there! Thanks for your patience as we work through this.
My payment still states pending. Are you sure this is not counting against my loan payment or if I’m able to get a new loan? It’s been over a week, that’s a long time for a payment not to be posted🤷♀️
All of my information I’m receiving from square capital about my remaining balance is incorrect. For example, my email I receive every day telling me my balance left on my loan after my payment; the balance is incorrect. Also I have a pending payment on my dashboard that’s isn’t showing the correct number, and it’s been pending for a few weeks now. The only number that is correct is the percentage and the remaining balance that shows on my dashboard. The emails square capital send me are incorrect and the pending payment that shows on my dashboard is incorrect. How can I get this fixed? Does anyone know how I can get in touch with a real person from square? Also is this affecting my loan offers?
Hi @Kasey8783 - I moved your post over here since it looks like you're experiencing this known issue. Our team is working on fixing this now and should have a resolution soon. The incorrect information you're seeing is only affecting reporting and does not affect your balance/payments or eligibility. Sorry about this and we'll keep you updated as we learn more from our team.
I too have been having all these issues for the past few weeks. If you talk to a person they say the same thing that you are told on here. There must be a glitch in the system somewhere is what I am getting from all this.