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. 

[Otlf2018]

I just left a review on TP. Doubt it will get anything done. I’m thinking their situation was just coincidence. 

[Jjbeautyco]

I just did as well. Who knows what will come from it.  If anything happens I’ll keep y’all posted 

[GlitzyCow]

I’m really frustrated. I’ve provided all info square wanted from me whenever they want it. 100% paid from my loan in June before my first regular payment is even due. I was really hoping it would come through for us. Everything is up as far as sales. Green on every line. Processing daily. Never had an issues. This was my 11th or 12th loan from square. I don’t know what changed but def something. They’ve made a lot of money off of me my transfer fees alone are enough to make anyone nauseous. Doesn’t seem right they can be fairly consistent then boom drop you. 

[DD_2019]

I got a loan offer in May and hit 65% paid back today and just received a loan offer today for double the amount of the last one. 

[CTC18]

 

Do you have your bank account linked where it asks in the loan eligibility? I’m debating if I should or not.

[danengine2004]

I did that before our last offer and there was no problem - I just believe they are not offering loans any longer - Impaying off the last amount due and going to Clover unless they address this issue. Clover has already said there would be an offer the same as out last if we sign up

[CTC18]

There are multiple people on here that said they’ve gotten loans this week. They definitely are, just not as soon as before. I just had one in June.

[Mbuntins]

Hi I do 60 k a month and payed my last jan 25th. and have been eligible the whole time .....I keep getting gernic messages 

[Mbuntins]

I have it linked yes

[Jjbeautyco]

Interesting!   Is everyone noticing they’re receiving offers once closing out for the day or is it random? 

[Healthyketo]

I finally received one yesterday between 330-430pm at 96% Although it was half of what my previous loan was I was still just thankful to receive something. Now just sitting on pending and waiting for an approval. Has anyone ever been approved on a Saturday? 

[Jjbeautyco]

Yes I have! Ive gotten the offer and then a few hours later approval on a Saturday. I notice I get them Thursday’s or Saturday 

[PartyManiaMD]

I noticed my last two loans were offered on Thursdays. Hopefully they can move that to Mondays so people can go into the weekends in a better position! Wishful thinking I'm sure, just like I wish UPS would deliver my big shipments Mondays and not always on Thurs/Fridays >.<

[GlitzyCow]

Yes. Most of my old offers actually came on weekends. You will probably have to provide some documentation though if it hasn’t approved yet. 

[ianssoph]

I just received an offer for $43k at 76% repaid. I’ll let you guys know when I’m approved.

[brown17]

Just now?  

[ianssoph]

Yes. This afternoon. About an hour ago.

[GlitzyCow]

So happy for you but I’m so disheartened I could cry. They were so dependable before. Would you care to share your yearly sales etc? I’ve been paid for a while and nothing on my end. Everything is on the up on mine but I feel paranoid bc no offer has come in. 

[ianssoph]

I usually receive an offer every 6-7 months. It’s always been from 60-70% and my sales are very constant and steady. I’m open 7 days a week, but I did just take a 10 day vacation and closed for those 10 days. I am at $170k in credit card sales so far since January 1st and $115k in cash. I don’t know what else I do differently than the average square user. I did do the review on trust pilot as well on Friday. 

[GlitzyCow]

I may have to go there and do a review. I’ve always told people I love square and have never had any issues. I’m just getting disheartened bc I have really increased business through square this year and chose to trust them and they’ve made a lot of money on my business through processing so… I don’t know if that was a mistake or not. If I just took cash and paper checks instead I would be money ahead on all the processing fees too. Just thinking out loud. I’m so frustrated. 

[Hotbear1]

I feel your pain our dashboard is all green sales are up no charge backs ever no disputes all positive feed back all loans paid back way ahead of schedule as of date sales are over $100,000 I think we all got depended on square for the loan program and I think they have put the core customers on hold for a minute to recruit new and young business