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. 

[NRVGuru]

Now at 83% paid with increasing traffic. Fingers crossed for a renewal soon, especially now that we're within two weeks to Christmas... 

[Pecard81]

90% paid, getting closer to the end,  this is the first time I have ever come so close to paying it off. This is my 6th loan 

[PsyD]

It does seem like square has tightened their lending. They should just come out and say it 

[PsyD]

I got all excited after I just received an email. But it was the stupid “refer your friends” and get a free processing up-to 1k. No jelly of the month club for me. 

[SPPhotography1]

Beyond frustrated. Been with Square for close to 8 years now. Never had any issues at all. Always had a great relationship with no charge backs or refunds. Had 7 previous loans all paid off very early. Record sales 7 years in a row now (Same for this year) current loan from March of 23 is %75 paid off, all green and no new offer to speak of. We’ve never waited this long for a new offer and been doing so well in processing and sales. The algorithm just doesn’t make since at all! Something has clearly changed! 

[Pecard81]

I am on my 6th loan and got it march 10, I am at 90% so we are doing about the same.  Hope we both get a offer soon 

[Crosstimberkoi]

Agree something has changed.  

[PsyD]

my loans get paid off very quickly, I’m so frustrated seeing “not eligible”. I think they they have to rely on an algorithm to underwrite these loans because they can’t afford human underwriters-cost cutting. There should be an option to apply manually.

[PsyD]

i've received so much junk email from square in the past week but no offer...

has anyone heard of anyone received an offer in November/December?

[Kacey13]

Hi @PsyD!

Appreciate you taking the time to post.

I will be following up with you via email.

Please contact us directly, our Square Loans line is open between 8am-5pm PT Monday-Friday if you want to give us a call.

[Twpchair]

Yes, if you scroll down through the thread they posted when and most posted how long it took to get to their bank account and if they connected their banks etc. Last week seemed a little slow but the prior week there were quite a few people that commented. I always try remember just because I come on here and others but over the million people/businesses don't so we don't see or know how many loans are going out everyday. Usually,  Val Farms post every couple of weeks how many loans, the average loan, and the increased numbers over the years. Good luck to you! 

[Pecard81]

91% maybe a offer soon??? 😂

[NRVGuru]

Here's a hoping! This week was much bigger than last week at the nerd store, and it's now basically a week 'til Christmas...

[Blandkite]

I really wish square would just come out and say they’re not giving out loans anymore, I have been in good standing, sales increasing and still “your business not eligible” 

[MrRoadside82]

Exactly I can't even see my key factors. 

[Pecard81]

92% paid on 6th loan, Maybe I get lucky today? 🙏🙏

[Bdempfit]

I’m still paid off BUT the strangest thing to me is that all of my eligibility factors have been in the green ALL year and today it says my processing volume is low. And needs work. I’ve had slower months and it’s never said that 

[Pecard81]

Just received an offer it’s for 1/3 my last loan. I’ll let you all know how long till I get a answer, I do not have my bank account linked my other 6 offers had been steadily going up 

“Thanks for your application

We’ll review your application for $$$$. We’ll be in touch in 1–3 business days.”

[Knight87]

It was about time Pecard81, patience is a virtue

[Pecard81]

I agree!

[Blandkite]

Send me a loan offer square!! 🙏🏼🙏🏼🙏🏼