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. 

[Blandkite]

All my loans are completely paid off 

[Pecard81]

Sorry just read you paid off in sept

[Solstice]

96% paid off and nothing still

[Pecard81]

Let’s get some positive feedback out here.  Any new loan offers? Iam at 88% and looking for some positive vibes!! All green and except for loan repayment which is in progress because Iam not done paying yet.   

I now own less then the the loan fee.  I am about 4-5 weeks from paying it off 100% 🙏🙏

send me a offer square.  

[Canada2024]

I received my 4th loan @ 72% paid.  It was my largest loan received and 20% payback....Came on dashboard on a Monday evening around 6:00pm PST...

[Canada2024]

Was approved following morning and funds were in my account on Thursday...

[Chance2322]

Did you connect your bank account prior to new loan?

[Canada2024]

No, I never did that, and I would not do that.

[Raymond21]

This post was edited by moderator to remove personal information

Do you need a loan contract on email (email address redacted)

[Simplicity1]

we were at 99% paid.... and everything is always paid early..... No offers.... I hesitated from paying off the last $175 but did it anyway just to be done.... Our Yearly sales are down ( about 15%)  from loosing a big customer but everything has been green for months and no offers......we have given up.... I am loyal to square because we have had 3/4 loans in the past and its helped us a ton.... but it doesnt seem that we will get a new offer anytime soon for one reason or another.....    the last loan was around 19k with the fees and it was paid off in nearly 6 months... 

[Solstice]

We are 99% paid off as of today… no offers… same generic response from square. Everything is in the green and numbers are up. 

[SugarRushJax]

Received our third loan offer today at 82% paid on the second. What confuses me is that our sales are up 2.4x and now 7 days a week since we opened a location in a mall, yet our loan offer is the same as the last one. An offer for what amounts to 5-6 days of sales isn't really of any help. Is there any way to get the amount raised? 

[GlitzyCow]

Just be happy you got one. Some are receiving them at a fraction of previous with increased sales. I’m up at least 100% been paid for four months and nothing. Haven’t received a single offer since. 

[Pecard81]

Congrats on receiving a loan offer, the only way I have read is not accepting current loan offer and in approx 10 days you may receive a new offer but it is not guaranteed to happen.    So that being said good luck on making the correct decision 

[Pecard81]

Did your offer come in today on Sunday?

[SugarRushJax]

Yes, Sunday around 1pm est

[Twpchair]

No, there really isn't a way to ask for more. Your offer is your offer. Some have tried to not accept it and wait it out to see if they offered a larger loan later and it didn't work out so great. They either received a slightly smaller loan or still waiting on any offer. There is no guarantees when or if you will receive another loan. Good luck. 

[Pecard81]

Thank you for the update

[Solstice]

We were 100% paid off today and got an offer that was bigger then our last we decided to take less then was offered to have a lower pay back rate… we hope by saving 8.5 % of each transaction will be a little softer of a pay back. 

[Pecard81]

Great news, did you take half of want they offered? The 18.9 % I pay per transaction is very high.  I am at 89% probably be at 94/95 by next Monday 

[Twpchair]

Congratulations!!!!