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. 

[BIGK]

Waited a whole month after paying mine off, new offer is less than half of last one. Even after tripling sales, doubling card processing, and having all factors green…

[ianssoph]

73% repaid and took a 10 day vacation so I’m sure I will bet penalized for that. 

[Twpchair]

Ughhhhh you can bet on that! I'm in Michigan and the last 2 weeks we've had horrible storms and lost power 6 different times! We're in a downtown storefront and one big window 12k sq ft store its pitch black in there we have to close regardless that I could take payments using my phone customers can't see! I watched all my green checks disappear fast! I didn't even bother to try and send a message and explain it. Good luck to you!

[ianssoph]

I just received a notification on my dashboard to connect my bank account to assist in becoming eligible for another loan. Has anyone else received this?

[PricklyElder]

I got it too, and hopefully it doesn’t backfire in the end, I signed up. I’ve gotten nowhere w/o having signed up so I figured what could I lose. 

[GlitzyCow]

Are you paid off? Over how long what amount?

[ianssoph]

I thought the same exact thing. I do think my next offer will be substantially less than my $40k since it’s taking them so much longer to offer another loan. 

[blueberrymae123]

Yes I got this too....not sure what that means exactly?? Is that a factor in amount and timeframe?

[brown17]

Just got this..but my bank is listed.  Whatever happened after you connected your bank

[brown17]

Isnt*

[Chacana]

I love to hear that this is the type of message that gives me hope. I'm not sure how Square works, but if you read on the seller community from 2021, 2022, it's the same people waiting for loans and trying to figure it out. I got a $43k loan in December 2021 and $63k last year in August. At this moment, I’ve paid back 82%. I need the money right now, and hopefully, I'll receive an offer soon.

[blueberrymae123]

Im currious what you end up getting because I got a $25K back in May of 2022, then $33K in Dec of last year. Im at $93% and just got an offer of 12K. Sales have continuously gone up and all factors are green. Doesnt make sense. 

[Healthyketo]

Does anyone know if when the eligibility page is time stamped if that’s the only time to get evaluated for an offer? Or has anyone gotten an offer after the time stamp. (Sorry if this question is confusing) 

[ianssoph]

Every offer I have gotten in the past two years has been on a weekend in the evening no where close to when I was time stamped.

[PricklyElder]

It’s timestamped below the last eligibility item. Mine is always everyday b/w 12pm-155pm MST

[Healthyketo]

Anyone receive an offer recently?

[Hotbear1]

Nooo at 90% and nothing 

[Hipretty3324]

Yes I just did…almost immediately after my current loan was paid to 50%, got an offer for double what my current loan was.

[Swain]

I got  one at 77%. More then the previous but not much more. 

[OWane]

That’s interesting, how long ago was that?

[Swain]

June