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. 

[brown17]

So did I.....again square will do what is goi g to make them the most money. That's why a computer does the decision making ..its let's them know how much they will get in return 

[OWane]

Lol, that’s impossible!

[Swain]

I’m really no sure how that’s impossible or why i would lie. Lol

[BIGK]

No it’s not. When I was on my 2nd loan of $4k, I received my next offer of $12k after paying off 50% within 2 weeks. 

[Otlf2018]

Just hit 80%, let’s see if the cards work in our favor later. 

[Denijo72]

My current one was double and at 51% paid , so yeah possibie 

[Taranto20]

90 percent loan is actually paid off just paying on fee crosses finger comes thru soon. 

[Healthyketo]

95% and still nothing. Eligibility factors all green. I don’t get it! 

[GlitzyCow]

I talked to someone yesterday and she said she hasn’t seen a decrease in capital being issued. But I’m at 99% and in the 90’s for the last week and haven’t gotten one. Def something changed. Crossing my fingers something comes in. Maybe they don’t like me now but I’ve paid them back entirely before my first payment was due so it was def fast $$ for them. Still holding on to hope itll

come. Wondering how many on here have gotten recent offers within the last week or two. Mine was in June.  

[jaykpizza]

Has anyone connected their bank when prompted to do so? I’m curious if it helps/hurts if I choose whether or not to. Even their language was a little confusing: “Won’t be used to decline an application”

[CTC18]

Have you connected yours? Debating what to do.

[PricklyElder]

I apprehensively connected my bank last week on the day that message showed up and still nothing. My loan has been paid off for a month now and eligibility factors are all Green and always have been. Except one time one of them was yellow for about a week very shortly after I started posting in the community - suspicious…

[brown17]

I just spoke with someone to get some clarity as 95% of my business in run through square checking.    Its to open up higher offers if you have additional cash flow from your business bank account.    For me, it wouldn't do any good as again most of my business is done through sqaure.    IT DOES NOT DETERMINE YOUR ELIGIBILITY

[jaykpizza]

Thank you! That’s very helpful. Kinda wish we didn’t have to resort to message boards to figure out what type of financial data we’re expected to disclose. 

[brown17]

I usually just call in...I've never had a bad expierence with anyone there.. yea sometimes it's not what I want to hear but for the most part...they twll you what they know lol

[CTC18]

Have you gotten anything since connecting your bank account? I’m not sure if I should or not.

[Jjbeautyco]

Adding myself to the waiting game.  5/6 loan and I’ve received offers between 48% - 70%   My offers have seem to almost double BUT im at 58% and nothing yet 🙏🏽 

[Taranto20]

so 91 percent paid all green sales way up.  got a loan offer half of last loan.  need any money at moment so had to take it should have it paid off fast though. Was approved in 10 min after submitting.  hope it helps others wondering. 

[Healthyketo]

Congratulations! Hoping we are next! Sitting at 96% and eligibility factors all green. We need one really bad! 🙏🙏🙏🙏

[Taranto20]

I reviewed them on trust pilot and square responded  asking for my information then all of a sudden approved.   Hmmmn makes me wonder. 

[jaykpizza]

How does this work? Maybe I should try the same. Frustrating!