Have you been Declined for the Loan through Square Capital?
We appreciate your fascination with Square Capital. You better understand the credit review process if you were recently declined for a loan through Square Capital, the following information may help.
Why had been I declined after getting an offer?
When you submit an application for that loan through Square Capital, the job undergoes underwriting and verification procedures to ascertain whether your organization qualifies when it comes to loan you asked for. The reasons that are specific application had been declined are located in the e-mail notice you received from Square Capital.
We realize being declined for a financial loan through Square Capital may be disappointing, and we’d want to do our better to increase transparency behind this procedure.
How do I be qualified?
Square Capital can be an program that is invitation-only eligible Square merchants. You are eligible to apply for a loan if you received a loan offer in your Square Dashboard. Please remember that each application for the loan is at the mercy of credit review, being entitled to make an application for that loan will not guarantee that your particular application shall be authorized. You can easily find out more about eligibility in this Assistance Center article, Square Capital Loan Eligibility.
Exactly what are the good reasons for being declined?
There are many different demands that really must be met to be able to be eligible for a that loan. A number of the good cause of decrease include but are not restricted to:
Your online business has already established uncommon re re payment processing task recently: once we review your account we look at your payment history with Square after you submit your application. It means that your recent Square account payment history seems unusual if you have been declined for this reason.
Your online business has brought less Square re payments recently: we have reviewed your account and determined that your sales through Square have decreased relative to your prior payment history for those who have been declined as a result of re re payment history. […]