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_]

Wow that’s great hear. Were your first 3 offers low as well or were they doubling up each time? 

[Swain]

Yes

[Me2018_]

Thats great, out of curiosity what’s your rate like on that 28k?

[Swain]

19.25

[Me2018_]

Received an offer yet?

[Swain]

No😞

[Me2018_]

Same here , at 77%. Usually by now i have an offer. Everyone i know in the percentage paid hasn’t recieved one yet 🤔 

[DD_2019]

Nope 

[AllNewU]

no at 81% paid with a 900K processing volume and a bogus ineligibility put there by square since they are the only ones declining me for funding! 

[MTA]

same!

[MelaoCafe]

Are your Loan Repayment factors also green?

[_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.

[Chrissy3]

Just got my loan offer when I hit 81% - same amount as last time! 

[Lashlady]

I’m at 88% and haven’t received one yet. I hope one comes in soon…

[Chance2322]

• Did your offer ever come through?

[AllNewU]

Just another vague, form letter response. Of course Square doesn't need to offer Capital. It looks like they have cut way back. I am a business doing 1M a year with a bogus ineligibility marker put there by Square. I guess they have no problem losing a 1M dollar processor. 

[Flavor2017]

I feel the same way. I’m going into my second month of being paid off with my last loan and I’m in green across the board and still have the bogus ineligible 

[Koleen1234]

I have been patiently waiting on a loan from square. Nothing 

I have had many loans with them in the past. I am almost 90% paid off and nothing 

[Chance2322]

• Same here

[Mbuntins]

Hi I am thinking the same   I paid off my 45 k loan in 4 months and had 15 loans before that ... doing 1million in sales and they have not given me an offer in 8 months ... but I am thinking of leaving I already paid 20 k in cc fees ... I now prefer to keep to my self 

[Pecard81]

And how would you keep the 20k cc fees? Stop taking credit cards?