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]

Any news on people getting loans? Iam at 78% and hopefully close to a new one.   It’s would go a long long way to help!   I would like to here positive news 😀

[Oxbow]

YES! At 66% paid loan #12 got an 25% higher than last offer. 1 day in review and approved. Payback is at 20% of sales.

Im happy!!!

[Rainstar]

When did you get your offer?

[Oxbow]

It came in Sunday. I accepted it Sunday night got the approval today and it says money will be in my account by the 10th. And for those wondering I never linked my account either in the 7 years with square

[Pecard81]

Great news! I hope to see more news like this!

[Pecard81]

are you the the 100,000 level?

[Oxbow]

Hmm not sure if your asking about monthly or annually? 100k a year plus

[fanandfeather]

I just got mine at 83% on Sunday evening 🥳 I’m so happy, square is the best!! I’m not even going to stress about it next time. I hope you get yours soon!✨

[Rainstar]

This is great news and I am praying that’s my story very soon! 

[pinkcottonco]

Has any one received an offer later in the day after the eligibility has updated? Also have you always gotten offers on the same day of the week? Mine usually updates between 1 and 3pm EST, the last 2 loans I was offered were random on Saturday nights. A friend of mine just got an offer at 42% paid back. We do about the same processing and $ wise. I'm at 52% paid, and my CC processing has doubled since the week prior, with new customers as well. Everything is green on my eligibility screen.  

[Twpchair]

I've been with square since 2014 and yes, I've received mine before at 10pm on a weekend and randomly throughout the day as well. 

[Pecard81]

It’s obvious people are getting loans we just don’t hear about.   Let’s make an effort to report when we do get it.   Because we will!

[Oxbow]

I always report both bad and good. Square has always been good to us

[Twpchair]

You're exactly right! Actually,  square has given out more loans this year vs previous years. Not everyone uses the forums. If scroll down there is a user that post all the reports and numbers. Thousand of loans are going out daily. 

[TrendzbyM]

I'm waiting patiently sitting at 71% and hoping I get an offer soon too!

[Mtc12]

Just got an offer yesterday at 71% paid off. I submitted my application yesterday and today they emailed me saying they needed additional information. I went through the steps and I guess they needed my drivers license and social. I was not able to input my information because it said that I already submitted it .This is my fourth loan with Square and I am confused why they need that information now? Not sure if anyone else has gone through this but any feedback would help. 

[Twpchair]

I've been with square since 2014 and was asked about a year ago and the same thing happened. It went through with no problem! It was just auto generated if they have it and you couldn't add it again I wouldn't stress about it. Congrats!

[FirstLook]

Last received one that was about 40% higher than the previous in July at about 65% repaid, now at 51% on that loan and hoping for one soon since I've been paying all of them back long before the minimum required. Will keep you guys updated! 🙂 

[Obulldogs]

UPDATE: I received an offer at 89% today.  Pretty disappointed in that it's 1/3 of my last offer. For those wondering it was less than 9% of my card sales dating back to my last offer (FEB) which I would assume would be their timeframe of consideration.  Wanted to let you all know.  Good luck and hope you get one soon to help your business out! 

[Pecard81]

What time are offers coming in?

[Mtc12]

everybody is different but if you check where you see the green “good” markers It usually gives you a timeframe of when they do come in.