Has Anyone received Square Loan offer in 2022?

[TheMercantile]

Has anyone received a square loan offer in 2022? For some reason it says I’m ineligible, however I was just offered 100k in Nov. I turned it down because the payback rate was 17% so that means with a good Dec, they would’ve taken $51,000 of my profits in just 1 month. I did a thumbs down on the offer because of that. Does rating the offer poorly take me out of receiving offers? 

[Mansellmc]

My bank doesn't allow Plaid or other 3rd parties to connect to it. Square should have a way that people can upload their bank accounts so that everyone can reap the same benefits as those who can connect using plaid.  It's a bit unfair to not offer a way for everyone. Not just to those who can connect. 

Plus, I am at 78%, all of my markers are green and I'm sitting here ready to finish an expansion before the holidays get here and not knowing when I can expect an offer is so frustrating. I only use Square for working capital. I know there are others out there that are more predictable but Square meshes well with my business. It's the only downside to Square I do not like. I also use them for savings and payroll. They need to be more transparent about loans/offers rather than being so vague about maybe you will get it, maybe you won't. I understand the no guarantee about getting it, but if your markers are all good and you have no issues, you should be able to know more. And., they do not need to respond with the same scripts all the time.  Too robotic and not good communication. IMO Once you are over 3/4 of payback and your markers are good, you should automatically get a refinance offer. Their words are, they don't want to renew you too soon so that more money goes into your business rather than paying back the loan. Well. I kind of know better what my business needs are. My business needs do not always fall in line with what Square thinks it should be.  I just need a new refinance offer so I can be ready before the holidays!  

[Koleen1234]

I am in your same boat! Waiting on capital to buy inventory and such. I always had 2-3 loans a year. Completely nerve wrecking 

[Mansellmc]

A bit of an update. 🫤 

So I check my dashboard for a card that I processed and lo and behold, an offer appeared. However. It was $200 less than the last loan. WTH? Funny how the offer came after me posting my post here a bit ago.  I Am very disappointed in Square. A computer making all the decisions on loans?! Not so sure I believe that. 

[Melthenailgirl]

Yeah same my offer was less than any of my others. Already paid back 30% so hoping I get a new offer before the silly season

[lolo11]

I’ve just received an email saying my previous loan is fully paid off and complete, has anyone had that email before? 

[lolo11]

Received our offer today (after getting the email saying thank you for paying off the previous loan) - slightly less than previous ones, but it’s a massive help for us! 

stay patient - the loan offers are there!

[FSKQueen]

I'm at 83% all in the green. Have always paid all loans with square way ahead of time. Hoping to receive an offer soon. Got some things with my business I want to promote for the holidays.

[cardtraders]

Like clockwork, we passed the 70% repayment threshold and had an offer the next day. 

First loan - $6850. Second loan - $11,700. Third loan - $18,200.  New offer - $24,000. 

Offer received saturday afternoon, approved this morning!

[maryanngregg]

Awww that’s awesome!! Congratulations! 
Still nothing for me. 
Excited for you!! 

[BUZZONBLACKBERR]

Congrats!

[Jjbeautyco]

• I went to go check how much I was paid off on my loan and noticed they added this part now under loan eligibility factor that says “ most customers receive new offers at 3/4 loan paid off” … Anyone else ? 

[kailanik23]

I saw this as well and actually asked about it, as I’m almost 90% paid off with zero loan offers, while in the past I’ve always gotten them earlier. Their response is it doesn’t matter, it won’t necessarily be 3/4 but it must be more than that before a loan will be offered. I’m good on every factor and have been for as long as I can’t remember, consistently growing, almost paid off a $35,000 loan now and yet no offer. My guess is our economy currently is being factored in and square is likely feeling that pressure along with so many other small businesses. I wonder if loan offers will be become less common in the coming year with our terrible economy.