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. 

[Lshaver60]

I have not!  I’m 92% paid owing $5600 of a $68,000 loan!!  Not sure why not by now!  I have always gotten them by 80% paid back!  I had plans for my restaurant kitchen floor replacement, but not going to happen now I guess!  
god this is so annoying! 

[danengine2004]

Well not to burst your bubble (as others have said my posts are scaring people??) I’m at 100% paid off on a 250k loan - we paid off in 8 months - and have had 14 loans previous and like you were usually made an offer at latest 86% - so I’m pretty sure NO loans are being given right now by Square - they are having $$ problems lost 561m in 22 - (how I’m not sure) so to all of those thinking I am scaring people - I will tell you that Clover has told us the minute we set up account a loan will be offered for same as Square - we paid ours off Friday so Tuesday I guess we will start using Clover - Square just does not want to give any explanations etc - and oh yes Clover HAS offered us a solid 1.87% processing fee no matter how taken OR what kind of card  - so there you go - Square boys bring it to me I guess - remember I’m just telling my experience which is what this community is all about 

[Brooke34]

Did you ever receive an offer?

[danengine2004]

yes - but our last loans (3) were for $250k - this time they offered us $100k - we are up in processing this year etc - they have DRAMATICALLY changed the program - we are in process of changing   

[Brooke34]

Thank you so much. I'm needing one more loan. Then I won't be counting on these anymore as there is no rhyme or reason and they are drastically effected by the market. 

[Krb22]

Not so far and it’s very aggravating

[GlitzyCow]

Now wait the frick a minute. YOU were on here scaring people about square not offering loans and you run and hide and not come back and say hey guys I actually got one??? Didnt you also say that they didn’t offer for your type of business any more??????  Now you hide in the shadows? 

[Koleen1234]

is square offering loans??? I mean I never have had to wait this long. EVER! My sales are up 

so I do t understand 

[Twpchair]

They are! If you scroll down to last week you will see all those that received a loan. I've been with square for 14 and my last loan I was 91% paid off. Mine usually average around 70-78%. For most (not all) they are tending to be a higher portion paid off. Good luck to you!

[Jen14]

Lol…didn’t come with update or nothing. Wrote a whole book! 

[GlitzyCow]

Yeah he wrote a whole book about square not lending and discouraged everyone here. Said he was switching. Then didn’t update after actually receiving 100k he didn’t admit it until someone had to ask. Not cool. 

[Twpchair]

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@GlitzyCow wrote:

Now wait the frick a minute. YOU were on here scaring people about square not offering loans and you run and hide and not come back and say hey guys I actually got one??? Didnt you also say that they didn’t offer for your type of business any more??????  Now you hide in the shadows? 

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If people scrolled down through the thread they would see! I know exactly what you're referring to! Yes, multiple did post this week as well with new loans. 

[pawsperrydise]

....

[WyattJames81]

I received a loan offer at 83% yesterday.  My loan was approved in ten minutes or so.  The loan I received last year was larger by $4,000. My sales are down 20% this year.  I had a huge year after the ice storms here in Texas. (I own a chimney company)

[Twpchair]

They are still offering loans! If you scroll down on the loans thread there was multiple people posting they received a loan this past week! My last one was 91% paid off before my offer came in. I use to average around 70-78% paid. For most the % is higher but not all. I saw 2/3 this week that were 60ish paid off. Just keep doing business and checking your dashboard and it will come. Good luck to you!

[Koleen1234]

Did you receive an offer yet? I am concerned I won’t be offered another loan 

[Jalisco20]

I finally received an offer at 80% on Saturday. Have to say im disappointed in the amount offered. The offers are getting lower but my sales have been have been great. It makes no sense.

[lisap1970]

Was it significantly lower than the last loan? How long have u been with square if you don’t mind me asking 

[Jalisco20]

This is my 4th loan. Its the second lowest I've received. I've been using square for 2 1/2 years.

[lisap1970]

I’m at 79% and always had an offer before now. It’s only gotten a little higher each time but now I’m worried. I need the square loans this time of year for the holiday season. I own a baby boutique and and it helps a lot. I hope to have one soon. 

[Tamaratonya]

Same here. Currently at 86% paid and nothing. Never waited this long