Hi @Datedocta. In my experience, offers seem to come around mid-week — Wednesday, Thursday. Keep in mind that this is my experience, but I’ve read other posts from other sellers that indicate something similar. However, I think your bigger question is not timing but whey new offers are taking longer these days.
Square Loan offers are triggered by regular reviews of our accounts and activity and when the algorithm determines it is time for another offer, one arrives. But we need to keep in mind that our account activity is only part of the equation. As a responsible lender, Square has to take into account the lending market, interest rates, funds availability, and of course they are responsible to their shareholders. There is nothing that we can help you do in the seller community, and Square employees won’t be able to accelerate the offer process, either. For most of 2023 I saw lots of similar threads here where sellers had paid off their loans then waited weeks, if not months, for new offers.
I can offer some context, however. Even a cursory reading of economic news reveals that the worldwide lending market is being very conservative right now. All lenders are being very cautious about when they offer loans and especially how much they offer. With worldwide interest rates so high, all loans are very risky for lenders so they aren’t being as free and easy with them as they once were. This is a reality that is going to stick around for a while not just for traditional lenders, but for merchant lenders like Square. Hopefully we will see some loosening in the overall lending marking in 2024, both in the area of interest rates and qualification requirements. But regardless I expect that it will be a very slow process.
Sorry to be the bearer of unwelcome news, but at this point it is at least reality.
