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. 

[Me2018_]

Ok, i’m paid off here since yesterday off my 3rd loan. Everything is green but no offer yet.

[Bonzy2010]

If you don't mind me asking, how many months did it take you to complete the loan? Trying to figure out if finishing it out in a quicker timeframe = quicker offers in the low to mid 70s% or is there really no rhyme or reason when they are offered.

[Me2018_]

1st one is 3000 got an offer at around 77% in less than 2 months.2nd $4400 recieved an offer at about 80% in like 2 months and 2 weeks and my 3rd one been paid off for a 2 says now but haven’t recieved an offer yet, took me about 4 months to pay off $6100 . If that helps

[Bonzy2010]

when you say you're off the ineligible screen, do you mean it doesn't say that at all anymore? I'm 79% all green but says currently ineligible.

[aceshighcyclesh]

No. For a while there it wasn't showing me all the factors and just had a white screen that said your business is ineligible for the square loans program.

[Me2018_]

What current loan are you on?

[aceshighcyclesh]

This is my 10th I believe.

[Me2018_]

How were your  increases thru out your offers?

[CTC18]

On 70% of 48.3k loan. This is my 9th Square loan. All eligibility are good except “loan repayment progress”. I’m ahead of 60 payment schedule by about a month. This waiting and the unknown kills me. I think the longest I’ve had to wait is until 74% for another offer but seeing you all waiting in high 80% is making me nervous.

[Me2018_]

I just paid off my 3rd loan 2 days ago but still waiting. Usually 75% range i get an offer.and this round all sales and everything gave been higher. What loan are you on?

[CTC18]

This is my 9th square loan. Everything has gone up for me as well.

[Bonzy2010]

still no offers for you?

[Me2018_]

No not yet.

[Bonzy2010]

definetly been odd lately...some ppl get it 70s-80s yet some in 90s or paid off have 0 offers..currently 80% so I have no hope it would happen for me either since I usually get them in the 65-75% range...currently on my 7th loan

[brown17]

My last two loans were at 60-65%...nothing 64% do I still have room..bulk of my invoices come months between now and Sept. But I still.process daily.... Hoping to get one soon.  I was told that those factors don't necessarily make you ineligible just areas they look at

[Bonzy2010]

I process about 30-35 payments a day on average so frequency doesn't help odds either since I process around 200+ payments weekly. I'm not really sure what the main factors would be either. I'm about 5 months ahead of schedule on current loan too.

[Me2018_]

My sales been up this round of loans and everything thing else. So I’m honestly thinking its been something up with the square system for the last month. Taking into consideration alot of people were on ineligible screen fot the longest and than some received an offer once they came out of that screen.

[CTC18]

I process on average 90-110 transactions a day, 6 days a week and still nada. 71% paid.

[Bonzy2010]

with that many transactions you do..it makes me really wonder if they really just put all our accounts in a hat and pick out 3 per day to offer these things 

[CTC18]

Do you have a slow season you just went through or are sales up?

[Bonzy2010]

it has generally been steady...sales currently are almost identical compared to last year give or take a couple thousand