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. 

[Stefanieblue]

I finally got an offer today after they sent me a confirmation that my previous loan was paid off.  Around 3 today as I was processing a transaction I saw I had a notification stating I have been offered a loan… I did take it … it’s taking 20% of my daily sales which is higher than usual.. I figured the higher the loan amount the higher the interest rate… it took about a week for everything to settle…

[Mollick]

It’s been three weeks I paid off my loan one week ago. I got a confirmation email from them but still I didn’t get any new offer. When did you get the confirmation email today or one week ago?

[Stefanieblue]

I received it this morning around 6 this morning..then I received my loan offer around 3 this afternoon 3/31/23

[912guy]

This is my point all along...seems like with some banks failing square is being cautious about loaning. 

[BeeBraids]

Hey what does the payoff confirmation email say? I’ve been at 100% since 3/15/24 but I haven’t gotten an email saying “you’ve completed” or “thanks for paying off” or anything like that…. 

[Mollick]

How long you waited after you paid off loan to get a new offer ?idk when i will get new offer .

[Stefanieblue]

Have you received your confirmation email about your previous loan about being paid in full

[Mollick]

Yes i did about a week ago .mine is green too .but no offer yet .

[Stefanieblue]

Have you had any reviews on your account or chargebacks 

[Mollick]

No i never had any reviews or chargebacks .

[Stefanieblue]

It took about a week… everything was green… 

[Beangirl]

Mine has been green since December 7th, no chargebacks, no disputes, new and returning customers, two loans paid off in less that 3 months in 2022, 30k in sales since January 2023, 230k in sales in 2023 and nothing. Crickets. I have both a savings and a checking account with square.. it does not make any sense.  

[ggbluejune]

I also paid off 100 percent and haven't received an offer.

[Mollick]

after paid off how many days you waited for an offer ?

[Stefanieblue]

It’s hard to figure out the algorithm… 

[photoguy2019]

i wish i could figure it out😩

[raggedheart1]

We have had a loan offer at 73% the last few times. Right now we are at 81% with no new offer in sight. All of my markers were good on Friday morning, but Friday afternoon they all disappeared and said we aren’t eligible for the loan program and to check the square dashboard for new offers. Why can’t we see our markers anymore? What is going on? 

[DD_2019]

Mine has done this same thing today. It was fine yesterday and now today, I can’t see anything anymore. 

[DD_2019]

Mine is back now. 

[BeeBraids]

Where do you see your markers? I see everyone saying it but I have no idea where to look. I currently have a loan with them. Could you tell me where I should be looking in my dashboard plz! 

[beautyspabrow]

I’m at 87% paid, 6th loan all of them paid within 4 months. 123,178.00 in sales starting my January 2023. NO NEW OFFERS 😟 All markers are green, no chargebacks etc.