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. 

[BellaXpress]

Thank you!! Same to you! 🙏🏽

[BellaXpress]

Oh and yes, my bank account was linked as well! 

[lisap1970]

Was this an account besides the square checking account ? 

[BellaXpress]

Yes, it is another bank not through square

[tenanpapjb]

Received a loan today paid off loan yesterday linked account and today got the offer . 

[NRVGuru]

This is some good news! We're currently at 75% and rising. Fingers crossed!

[Pecard81]

I am on my 5th square loan, my first was at 41, then 45, 100, 175 and this one 188… I am at 73% paid in 7 months I don’t know if that is a good or bad thing, I sometimes feel paying this back so fast (in half the time) is good for Buisness.  After the first 3-4 months of being funded I feel the almost 800 dls a day avg I am paying back is actually making me get behind on regular payments.  I do not know if I get a new offer I will take it.     I am on the fence.  Does anyone else feel this way?

[lolo11]

I’m based in the UK - hopefully ours will come through today - just checked and all my others have always been a Friday. Maybe it’s my lucky day??! 

[Obulldogs]

82% no offer.  

[Pecard81]

In the past where had the offers come in?

[Obulldogs]

Started out like at 90% then dropping each time while offers would increase.  Last one was around 80% I believe.  

[Koleen1234]

Same 82% and no offer 

[lolo11]

has anyone ever had offers over a weekend? I'm assuming not, but just interested!

[lisap1970]

I’ve had offers on Saturday and Sunday. I’ve been with square since 2014 and had at least two a year maybe more. But sitting at 87% with nothing . Asking for me to connect bank account but I haven’t . 

[Obulldogs]

I don't feel the need or the reasoning to connect my bank.  Had multiple loans with square and all paid off early due to my sales.  I believe those sellers should gain a strong relationship and continue to receive offers earlier and for more money based on sales and past loans.  I will not connect a bank.  It's simple.  They already know your sales and take a daily payment. No need to connect a bank. IMO

[lisap1970]

Me either. I think if we have been loyal to square and paid these loans it should stay like it was in the beginning. I just got reviewed like everyday it says at 3:43 and still no offer.  

[GlitzyCow]

So did you end up getting one?

[Tritter82]

I never connected my bank, and most likely won't due to the security factor. I still received an offer about a month ago 

[VanKalkerFarms]

Why would you not connect your bank account?  the money you take in has to get to you.  I've had my account with Square since Cinco de Mayo 2011 and have done over $10 million with them and they haven't taken a penny that wasn't theirs, this isn't a guy in a dark alley swapping food stamps for cash it is a worldwide processing disruptor.

[pawsperrydise]

There are a TON of security breaches with larger companies all the time.  So it is a risk.  Additionally there was a whole lot of "permissions" of information they asked for.  I also believe i read somewhere you cannot just "cancel" it without doing some letter in writing, etc.  So for some it may not be worth it.  

[GlitzyCow]

Before I came to square many years ago I was using a diff processor that I had my accounts linked to and they were all three hacked including the farm account. It took me well over a year to get everything straightened out. I had to set up all new accounts. It was a mess. I refuse to give square my log in credentials to my bank account.