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. 

[JonathanBarber]

i just paid my 7K loan off just one week shy of a year from my last loan. No additional loan offer for me yet.

[Jjpainting]

I just got my first loan april 1st, so just 17 days ago. I’m at 87% paid already and will have it paid off within the next week or so. Was doing great and not in the need for another, but some unforeseen expenses came in. I’m hoping for another offer within the following week or two. 

[CCravings]

Just checking to see if you ever received any new offers yet?

[ejeje12]

I recieved one tonight.  It was in my dashboard and no email came.  It was 60ish% of the last loan and I was 90% paid off of that one.  

I took the offer and it changed the daily payback rate from 20% to 15%.  Funds were deposited within 15 min.

[CCravings]

Nice to hear I at 95% paid off from a loan back in October 2022, everything is green but still no offer yet. Glad to see someone is at least getting offers 

[danengine2004]

I’m at 100% paid off and nothing 

[Luly255]

Me too. I paid off 1st loan of $9100 plus the fee on 36 days.  No offers 🤦🏻‍♀️

[HALEBOUND]

Just curious have you gotten an offer yet?

[DinaLRosenberg]

We have a currently offer but we've never taken a loan with Square.

[Swain]

I’m at 66% this is my fourth loan and still nothing 

[Me2018_]

How does your eligibility factors look? 

[Swain]

All green 

[Me2018_]

Same here, i’m at 74% all green. Last 2 loans i got an offer between 72-78%.

[DD_2019]

I’m at 83%, all green and nothing yet. 

[Swain]

Crossing my fingers something will come soon. We really need to add another truck to our company. 

[Me2018_]

When was your last offer?

[DD_2019]

August. We were slow for a couple months after that but our sales have significantly increased compared to what they were when we received that offer. I’m not sure how they decide who is eligible but seems like we would be more so now than we were then. 

[Me2018_]

Yea, there algorithm is so hard to figure out.  My last offer was in January but my amount is significantly low compared to yours ($6000).  I’ve been all green during the whole duration with more revenue. Keep us posted if they offer you anything. Hopefully if’s nothing effecting the whole square platform

[Swain]

October 

[Me2018_]

How were your loan amount’s so far?i believe you said yiur paying off your 4th 

[Swain]

Yes my fourth this one was $28000

paid 66% in four months