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. 

[tcdstores]

Mine came through Friday and funded today. 40%-50% lower than my loans last year. I was 80% paid off. This will be loan 14 I believe. 

[ib_cleaning]

Congratulations! I’m still waiting so hopefully I get something soon! With the inflation I need supplies ASAP! I’m at 80% and has been in all green for awhile so my fingers are crossed I receive a loan VERY soon! I’m normally offered a loan at 60 to 70% and if they send me an offer soon this will be my 4th loan! 

[CTC18]

What were last few previous loan amounts and then this one if you don’t mind me asking? Did your sales stay the same?

[Twpchair]

If you scroll down it doesn't look good only 1/2 people have received then most are waiting. 

[Mapiolj6]

1750

[Mapiolj6]

When I can receive 

[TheRealChipA]

A friendly word of advice to all.

It is never a good idea to share any sensitive account information, especially sales metrics and trends. This is a semi-public board. You should always assume there are bad actors here who could use such information to scan or harm you and your business. It is not recommended that anyone share things like average sales, loan amounts, etc, for example. 

The screen shot below is from the Community Etiquette Guidelines document. 

 

[Tiffanygalchutt]

I recieved an offer but it’s less then half of my last loan, my husband is saying if I i wait it’ll go higher 

[TheRealChipA]

@Tiffanygalchutt I wouldn’t bet on that. Not in this economy at least. With interest rates high and loan industry defaults going up, lenders are being very conservative. With good reason.  Sure it might go up, but it might go down, too. That’s the chance we take, I guess. 

I wish you well. 

[Twpchair]

I've been with square since 2015 and I've never had them give me offer than let expire and they came back with a larger offer??? 

[Ralphael84]

I’ll be there ecstatic to see a loan offer being 91% done 

[TB23]

I’m at 92% still nothing , all green! This my 5th loan 

[Ralphael84]

We’re in the same boat lol

[CTC18]

Any updates? I’m sitting at 77%. I’m 30.5k ahead of repayment schedule and nothing yet.

[Bonzy2010]

Received offer at 81%.

[Dolledup2018]

86% and all green! Still no offer! I have always received offer around 74-78% ☹️ 

Currently on 10th loan 

[CTC18]

Any updates? I’m sitting at 77%. I’m 30.5k ahead of repayment schedule and nada.

[BodyInBalance]

Any update?

[Mkennedy25]

Currently at 81% paid off on my 4th loan. All green and way ahead of the payments. Usually, I get an offer between 65-75%.  I usually have another offer by now. I’ve been using square since 2020. Hope to get an offer soon. Fingers crossed! 🤞

[CTC18]

Any updates? I’m sitting at 77%. I’m 30.5k ahead of repayment schedule and nada.

[Twpchair]

No, 83 or 85% all good, great, keep up the good work from 2015 and that's what you you get?