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. 

[ClareJ]

You will get it trust me. They just sent an approval email and I just completed the application a few minutes ago. I don’t have a lot of credit so please don’t worry. You’ll get it! 

[Pecard81]

What % were you at? 

[ClareJ]

I was at 87%

[Jen14]

When do your offer typically come, What percentage?

[ClareJ]

My offers typically come at 76%- 85%. Also around every 6 months

[Jen14]

Yeah mine usually come around 75%….I’m at 93%….Thanks for the insight. 

[lisap1970]

Thank you for all the support and being so nice. That helps a lot. 

[ClareJ]

You’re welcome! Let us know, when you get yours!

[Jen14]

From I remembered they told last time about credit check. Can someone give insight? 

[Sammie_C]

Hi @Jen14!

Thank you so much for your question!

When your business applies for a Square Loan, we will not access or review your personal credit report to evaluate the application. With your permission, Square Financial Services may access and review your personal credit report to help improve our evaluation of your business for any future loan offers. Please note that applying for a Square Loan doesn’t affect your credit score.

Feel free to reach out if you have any other questions!

[GlitzyCow]

So they won’t but they will? That reply makes no sense. 

[eatMoroccan3119]

I do remember something about a credit check as well when accepting the offer, and I remember at the time my credit wasn't the best but the loan was still approved. I think the biggest thing they factor is your processing and sales. So don't worry too much. 

We are 89% paid now on our 90k loan, and I know an offer is coming very soon.  

Good luck 

[Gios1419]

Im at 100% days after being paid off and no offer yet. 

[Jpphoto]

Oh no! I don't want to hear that. Sorry. 

[pawsperrydise]

I am at 90% and have all the criteria in good standing including sales being up.  It really is unfortunate they have to be so incredibly random about this.  It is difficult to plan ahead.  I know like most, I use mine to bulk inventory over the holidays and now it is going to be too late order wise for us to get the wholesale deals and pre-orders.  

[lisap1970]

Don’t feel bad it’s the same for me. 

[HTB44]

We all absolutely feel bad.  We need answers and for them to not just tell us we are SOL, which is exactly what the customer service rep said on the phone to me.

[Oxbow]

so sorry! too much of this lately

[GlitzyCow]

I’ve been 100% paid off for 10’weeks. Never any issues. Still no issue I’m aware of. Still no offer. I’ve had a dozen or so. Do not depend on it to just be there, bc for us and several others it isn’t there. Make plans to not receive it, then if you do it’ll just be a bonus. 

[Oxbow]

Im seeing more and more of this so sorry

[Cauldron]

Just received my offer (slightly more than last time) at 75%. My update was earlier today while still at 74%, checked again an hour later (when I hit 75%) and my offer appeared.