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. 

[VanKalkerFarms]

A garden center that I am friends with went cashless 4 years ago (just happened to time out with the covid) because they do over 15 million in 3 months and having 30 registers with teenagers counting out tills and runners collecting was just getting too much.  Now if you want to use cash you are able to buy gift cards with cash on the way in.  Lots of Facebook backlash and yet in the end sales were up 17%.  

I don't know that I would ever go cashless but I am fine with the few percent Square takes in exchange for the ease of transactions and speed.  We are surrounded by the 3rd and 5th poorest cities in Illinois and literally next to a highway.  Never has anything happened but it always could.  I try and clear the registers every hour.,

[Twpchair]

Thank you! I tell everyone to drop every hour just to be safe. It's just a strange switch for our type of business? Most coming into a retail furniture store have a range or amount they want to spend and usually 9/10 out of 10 it's cards not cash? Thank you! You always have great insight or advice! 

[Twpchair]

I know I don't want to go cashless or checks type thing but I'm a worry wort. Not so much for me but my employees. If the weather is bad I send them home and I stay type thing. Lately it's so hard because we go through stages of months of cash and checks and boom then cards and no cash? It's hard right now to figure out what customers are doing? Luckily I live 2 miles from our business and can be there or leave in just a few minutes. Like I said I'm worry wort and over think everything! 😆 🤣 😂 thank you for your insights it always helps or I don't feel like I'm going crazy! 

[brown17]

I don't know how to submit a general reply so replying.   Finally received a new offer today 81% paid off and slightly lower than last loan.    It is my busy season and I usually do see another around September.   

[Twpchair]

Congratulations! My last loan in March slightly higher even though increased sales but it is what it is. June that offer was 1/4 of any loan after 12 years and I was shocked! Looking at the trends that what was going on with most. That loan I was 91% paid back with as well. I'm glad you got an offer and thank you so much for posting it helps others as well. Here's to a great summer coming up!

[Twpchair]

Good for you! Gotta love the busy season! You posted great and thank you it helps others see kinda a trend. Every one and every busy is different but you can gage it better! I wish you all the best and keep continuing that busy time!

[Twpchair]

Thank you 😊 now I'm bouncing all over! One week all cards and the next cash or checks. I'm guess I should just be happy they are shopping! Thank you 😊