Has anyone received a loan offer in 2023?

[Blackbear579]

I'm at 71% and usually see a offer by now (between 65%-70&).

[#2]

I'm where you are at (minus the actual loan offer part.) Sale are up about 60% over a year ago and processing is up about 65%.  All the other things are in the green.

I think most people's frustrations are that it's just not transparent and there isn't a clear goal to strive for. It is also disheartening to just be told the same quotes over and over. It comes across as uncaring and impersonal. Which if that's the case is fine, that should be conveyed to clear up misconceptions and so people don't get their hopes up. It would also come across as more professional to state those things (economy and such) from Square itself. It would let people know where they stand and can make appropriate decisions. 

[_Violet · Accepted solution]

Hi all 👋 @Blackbear579 @DD_2019 @Me2018_ @Swain - I just wanted to drop in to provide some context on Square Loan offers:

Square accounts—including accounts with an active loan—are reviewed for eligibility regularly. You don’t need to contact us or provide any additional information to become eligible for another loan offer. You can check your Square Dashboard (at any time for more information about your current eligibility status.

Offers are not guaranteed and we are unable to predict when your business may receive another offer. Loan offer details, as well as the timing of eligibility, may differ from your current Square loan. You can find additional details here in the Square Loan Eligibility FAQ support article.

If you have any additional questions about Square Loans, you'll need to get in touch with the Square Financial Services Team by logging into your Square account and heading here. The Financial Services Team's business hours are Monday - Friday, 10 AM to 7 PM CST.

I hope this information is helpful but please do let me know if you have any additional questions.

[sayra · Accepted solution]

Hello, @Fca. 

It's understandable that you're curious about the timeline for a new loan offer after being denied, especially given your previous experience. Every case and account is different, on this platform we do not have greater visibility regarding your account and loan qualifications. 

For Square Loan related questions and Loan availability or eligibility you will want to reach out to the Square Banking team. They are available at 855-700-6000 between 6 am - 6 pm Pacific Time Monday-Friday. Our designated team will be more than happy to help you further. 

In addition, we went ahead and merged your post to this existing thread where other Square Sellers have discussion their Square Loans. We merge duplicate conversations together to keep like comments in one place, and to make it easier for others to find the thread in the future. 

Thank you. 

[912guy]

yes its weird , I am at 87 percent myself, my largest loan was 31k... and this is my 12th loan.. Usually by now we hear something but I am not banking on it this time due to the banking system. I have everything in green also... Square is a very unpredictable system that can mislead a business if your counting on this system. They told me once that a computer did the actual calculations and loan offers.. They said they had nothing to do with it on the personal side..

[beautyspabrow]

You said your not counting on it due to the banking system what do you mean exactly?

[912guy]

sorry for delay just seems with so many banks having issues and the economy on the edge of failure....seems like banks are not so easy with loans...

[Craigwhitlow]

Same here, all markers are good and was always ahead on the payments. Still no loan offer as well

[912guy]

I think its about time for many of us to look elsewhere for processing... and lets face it , the loans were a big part of us staying onboard with square. The worst thing is you never know if or when they may help you again. It is a love/hate relationship with square... The biggest plus was CONVENIENCE. Most businesses by the time the loan has been paid off are in need of it again, but of course you just have to hope, but you cant run a business on hope. 

[DD_2019]

Hey, I just got an offer within the last hour. My screen changed to the ineligiblity one yesterday. Changed back to the good factors today. I was at 92% paid back. It was less than half of my last loan offer but my sales are way up. 

[912guy]

congrats my friend.......well done..

[DD_2019]

I had given up on it for sure. Hopefully yours comes soon. 🙂

[912guy]

yes we given up on it and now are just making plans without depending on it...yes it is nice to have but its too uncertain to run a business at times..

[912guy]

Well today they changed our status to not eligible. At least we know we weren't going to get one.

[brown17]

All my markers are good 63% paid (have got offer at 60% before) Sales daily and up higher than ever before. 25,000 in a month and I have zero offers.    I love square loans, easy to pay back and have helped tremendously.  I just hate the not knowing game 😞

[912guy]

amen

[photoguy2019]

Hey did you ever get an offer

[Beangirl]

Checked my markers, we are at $29k for this month. They have all the green check marks except frequency of invoices. Apparently the $ amount in sales good but the number clients I have is lacking. $62.7 in sales since January 1st. On track to exceed our $259k from last year. Still no offer. I guess we wait and see what happens. 

[brown17]

35% of my customers this month were new.... Doesn't seem to matter.   I can't quite figure out what the qualifications are for the system to generate offer.    If you go by what is posted in Faq section I should have an offer 

[912guy]

really no sure way to know if you will get a offer..

[photoguy2019]

i agree i have have a lot of new customers and still nothing. Offers are very low as well i think my highest one was 1,300

[Beangirl]

All my markers are now checked green. At 30+k for April, I guess I cross my fingers and  do the hoky poky? Anyone have all green lights and then a new offer??About how long did it take? 

[brown17]

I was all green now all of sudden they added a marker for the dollar amount of my sales, was always the processing volume.    Not all my services are as high as they were in beginning of April but my actual card sales are always high.     So just when we think we are in the clear they add more markers....

[912guy]

wow

[SarahOneStopSj]

I'm at 90% with over $240K in sales since my last loan was issued 8 months ago. Praying for an offer, I usually always get one around 70% - pretty frustrating 😞