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. 

[Cafe290w]

I was get 40K 

[Oxbow]

12k bar rest

[Cauldron]

Currently at 72%, monthly sales are $20K more than average - waiting as patiently as I can, which is hard in our busiest times. I haven't yet connected my bank account, has anyone received an offer without connecting theirs?

[anchohoney]

I don’t think connecting or not connecting is the thing. I’m at almost 89% with two connected accounts, and nada. 

[lisap1970]

I’m at 86% connected and no offers. Ive been with square since 2014 . I have a very small children’s store and don’t get large loans so I really don’t understand why it’s taking so long . Always in good standing with square 

[BigA]

I have never connected my bank and will not be doing that, I received my 16th offer from square last week and it was approved within a few minutes. I was at 76% and I am a barbershop. I have asked many peers barbers and stylist who use square and offers are still coming regularly and increasing offers. I appreciate the sharing in this community and I know several people keep up with this thread to try to figure out what’s going on so I’m hoping this information helps someone have hope. The loans are still being offered and you do not have to connect bank. Good luck! 

[lisap1970]

Thank you. That makes me feel better. It’s my busy time and I was hoping for a loan for inventory.

[Keesh]

This was comforting to see. Thank you for posting!

[eatMoroccan3119]

can you share with us the size of your last offer? and how much do you average in sales per month?  

I know some people don't want to share this info but I think it will help many people reading this and put things into context.  Thanks !

[HTB44]

Did anyone not have their loan update today?

Those that got a loan, did your normal daily update not happen?

[lisap1970]

Mine just now updated at 10:05 but at 87% and no loan offer. 

[Keesh]

This is nerve-racking because as a business, you get into a rhythm, thinking that the loan will be offered at a specific time and your forecast future moves based on the fact that you know you are going to get a loan and then, the whole thing changes. I don't depend on it to run the business but it has been awesome for the growth of my business. I am on my 6th loan, 65% paid. Usually get an offer at 50 something %. Come on Square please lol!!!

[lisap1970]

I’m with you. Like you said I didn’t depend on it but I did figure it into my future plans for the business I’m at 87% and still nothing. I even tried to talk to them Friday and got the same response we all get. 

[Jpphoto]

I am currently at 88% with all in green for eligibility and nothing yet. On my 4th loan. It is so nerve wracking as a small business we rely on these offers. I pray daily that it will come through. 

[lisap1970]

Anyone have any luck today with a loan? 

[Cauldron]

74% today and nothing on our end :c 

[ClareJ]

I received an offer today at 87% and a little more than half of what we were offered 6 months ago. This time it did say it was going to pull our credit which I don’t remember it saying that previously. 
I was starting to give up and **bleep** near cried when I got the offer today. Please y’all don’t give up if you haven’t received it, it’s coming.

[lisap1970]

What time did your offer come in ? And I thought they only pulled credit on $70,000 and above ? 

[ClareJ]

My offer came in at about 1pm cst. I didn’t get an email, it appeared underneath my balance tab. I thought it was for only 70k and above too! It said it needed to pull a credit and consumer. But wouldn’t affect my credit score I was a bit suprised because I didn’t expect that. 

[lisap1970]

Something else to worry about if I do get an offer.

[Jpphoto]

Congrats! Good to hear!