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. 

[Pecard81]

I read on a previous post that credit is checked when you accept, did this happen to you, I don’t remember that on my previous 5 loans.   Iam at 71% and playing the waiting game 😩

[Megmahair]

I’m on my second loan with square. The first one I received a new loan offer at 64% paid off. I was offered a generous amount the end of feb, I accepted and now I am 80% paid off and no new loan offer as of yet. My sales are higher than this time last year, and the card processing everything is good. I want to add more retail to my space and hire 1-2 more employees to generate more income, but can’t until I have some sort of security. I’d love a new loan offer but I’m not sure what else to do to be eligible for it. Has anyone received an offer lately? 

[HTB44]

Just spoke to Square and I literally asked “so we are **bleep** out of luck”? And the customer service guy said “yep”. Lovely “customer service”. We will 100% be switching if we don’t get a loan this week. 

[anchohoney]

We’re absolutely moving to Toast for our second location, which is sitting empty and unrenovated thanks to Square’s BS. I’ve had it. 

[HTB44]

I got the rudest rep in the phone today. I said we just want some kind of answer other than “we don’t know anything”. I said “so basically we are just shot out of luck?” And his response was “Yep”. So mad. We are in the same situation. Second location empty while paying rent. Very sad what they are doing to those of use who keep THEIR lights on. 

[NRVGuru]

75% and rising! Some extra Q4 funding & inventory would definitely help out our nerd store, but the Algorithm is strange & mysterious.

[jameswesley435]

I don't have access to real-time information, but loan offers are commonly available in 2023 from various financial institutions and lenders. Whether someone has received an offer depends on their financial situation and creditworthiness. National Truck Repair

[lolo11]

We are paid off at 100% and sales higher than any other year, waiting patiently for an offer!

[TrendzbyM]

I've seen people say they get offers starting at 60% but I personally have never been offered one that early. I'm sitting at 64% so I'm hoping this time will be different ! 

[eatMoroccan3119]

I had an offer at 50% before, it depends on the loan amount they offer. Not so much percentage.   My previous loan was 32k, i paid down to 50% and they offered 92k. 

[Devmichelle]

I’ve been 100% paid off for months. Since June….. All in the green. Have had several loans before && still no new offers. 

[Jen14]

What industry are you in? I wander if they’re not giving offer to high risk industries.

[Devmichelle]

I’m a beauty salon. 

a couple weeks ago a barbershop posted about getting a loan.

it could definitely be a possibility though!

[anchohoney]

At this point, I’m not even waiting for an offer…I’m just waiting to get paid off so I can have my 19% of daily sales back. We’re at 90%, all green, no offer. 

[Jen14]

Hey everyone I received an offer today around 1:30. It was less but I’m thankful. I just made 94%. Good luck everyone. 

[lisap1970]

Congratulations. Was ur bank account connected ? I haven’t connected mine . 

[lolo11]

that’s great - glad you got the offer! It’s good to know the offers are still coming! Even though we never know when!

[Tjl87]

Just got an offer - 63% paid off and more than double our previous loan. They’re definitely coming!

[Dfmattress]

I'm starting to not believe square when they say they don't look into the business owners personal credit history because my personal credit has taken a turn for the worse in the past 3-4 months and now I haven't been offered a square loan after being offered and paid in full on 4 other square loans. I do $120k-$150k a year through square alone so I know that's more than enough to qualify and when all of the metrics are green for months, it's hard to believe they aren't looking at personal credit. My current has been paid off going on 2 months now and still no new offer. Odd all the other offers came well before paying my last loans off, now there's absolutely nothing. I find it hard to believe square isn't looking at credit when that's the only circumstance that has changed in my situation. I'm actually processing more now than ever. 

[Devmichelle]

all of my makers are green but it still says ineligible…. That’s what worries me

[Dfmattress]

Same. I've been that way and 100 percent paid off for almost 2 months now and nada.