Is anyone still recieving loan offers?

[Prov]

Is anyone still recieving loan offers ? and at what percentage was your previous loan paid off? i’m currently at 70% paid off and usually see a new offer by now .

[HC_Charlie · Accepted solution]

Hello @Prov thanks for your post. I know it's frustrating waiting for a loan offer, especially when you've been extended a Square loan in the past. There isn't a guarantee that you'll receive additional future offers, there are a lot of factors in play. Check out this article for some more info about loans. Eligibility may be different for every seller, and accounts are reviewed regularly. You don't need to contact anyone, just keep an eye in your dashboard if a loan offers becomes available.

I do know that loan offers are still available and are being offered, the only advice I can give is to remain patient. I hope you'll be able to receive an offer soon and wish you all the best in the new year. As a fellow business owner, I know how much new capital can help a business and I've also taken advantage of Square Loans in the past.

Good luck and happy new year! Thanks being a part of the Square Seller Community!

[Sammie_C]

Hi @simplejones!

We appreciate you reaching out!

At this time, we can’t predict if or when your business may be eligible for an additional Square Loan, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

Your account is regularly evaluated for offer eligibility based on many different factors. If your business satisfies one or more of the criteria, your business may still be ineligible if it does not fulfill other eligibility requirements. Some factors to watch out for that might affect eligibility are chargebacks, unusual processing behavior, and failed debits.

Please let us know if you have any other questions!

[chefparrishg3]

Just curious if anyone has gotten any loan offers. I am now 77% paid off on my 11th loan and have not been given another offer. I am up almost 70% sales wise over last year and I am good in all the existing eligibility factors. Im frustrated and really just dont know what my options are here. Anyone recently gotten offers?? if so what percentage paid back were you at when additional offer was made? thanks 

[Minion]

Plenty of loan offers are still be given to business'.  Pretty much anywhere over 70% seems to be the general consensus of when an offer will arrive.  Seeing as you are past that, just keep making sales and doing business as usual and you may have an offer well before you know it.  Some more information in this thread here of people getting offers.  

[chefparrishg3]

Thanks for the response. Continuing with daily sales as usual. Fingers crossed my offer comes soon. I have another once in a career opportunity to pick up another account. Which essentially would double my current revenue. Just don't  want to cut my nose off in spite of my face which is what would happen if i were to sign them without the capital I need to prevent cash flow problems. Either way thank you !

[Minion]

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@chefparrishg3 wrote:

Thanks for the response. Continuing with daily sales as usual. Fingers crossed my offer comes soon. I have another once in a career opportunity to pick up another account. Which essentially would double my current revenue. Just don't  want to cut my nose off in spite of my face which is what would happen if i were to sign them without the capital I need to prevent cash flow problems. Either way thank you !

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Absolutely, not a problem at all.  I tried in the past to "figure" out Squares loan algorithm but I gave up because it was pretty inconsistent based on what I thought was the data they were looking at.  I pretty much just through it on the back burner and always a nice surprise when you login to see the notification that you have a new offer.

With that being said, I did put together a thread here with some other tips on business credit building .  I haven't updated it in a little while (I just got approved for a Divvy card, which is similar to a charge card) , but some different avenues for business that don't require a personal Guarantor . 

Best of luck!

[jules72]

Hi @chefparrishg3,

Appreciate you taking the time to post.

New offers are not automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing loan balance.

Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer.

Your account is automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers. If you become eligible again, we’ll notify you directly through email and your Square Dashboard!

Hope that helps, please feel free to reach out to us directly if you have any other questions!

[Heatherannabuel]

Did u end up getting one?

[Cowlicks]

How do I get offered a loan?

[Escaper2022]

You must process over 10k with Square and fulfill their other requirements and they will eventually offer you one. There’s no way to apply.

[Sammie_C]

Hi @Cowlicks!

Thanks so much for reaching out!

New offers are not automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing loan balance.

Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer.

Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers. If you become eligible again, we’ll notify you directly through email and your Square Dashboard.

Please let us know if you have any other questions!

[OceanHills]

I've seen various threads on the Square Loans offers. It seems like they aren't offering them in 2023. People have posted that they are past their usual percentage repayments and in great standing and no offers appear. Has any one received a new Loan Offer in 2023? Does anyone have information if Square is phasing this aspects of the company that's helped so many. Myself included. 

[Melthenailgirl]

I haven’t received one and I’m at 80% plus it’s saying I’m ineligible and when I click into it doesn’t even come up with my loan stats and eleibilty factors looking good etc. it just says I’m not eligible to be part of the square loans program which it’s never said that before. 

[aceshighcyclesh]

This just happened with mine about a week ago. Any changes in your status?

[Tiffanygalchutt]

I just received a new one at 94 percent paid off. My last loan was 9500 and this one was 4 😩

[Jjbeautyco]

Ugh yes that’s the worst.  Mine was only $1000 above my last offer and my sales have doubled 🤦🏽‍♀️   Very frustrating for sure 

[TrendzbyM]

I’m at 74 % and haven’t had a loan offer yet, but all my processing is good and just hopeful for a bigger offer than usual soon! Square is great and worth the wait ! 

[Tritter82]

I'm curious how long will an offer stay on your dashboard once offered? Or are there certain days they are offered. I feel kind of silly checking everyday to see if I have an offer but don't want to miss it if I don't check. I've never had an email when I was offered a loan so I'm curious about this. Thanks 

[Nancy__]

Hey @Tritter82 ,

Thanks for reaching out!

Offers through Square Financial Services are only available for a limited time. We are constantly evaluating your account (even if you have an active offer). You’ll continue to see an offer for as long as you are eligible. Offers are based on a variety of factors, including recent Square processing volume, payment frequency, outstanding balance, and account activity.

If you are not receiving email notifications, check your notification settings on the Square Dashboard to make sure you have selected to receive these notifications.

If you have not received a confirmation email, and your email notification settings are properly selected, check your spam folder or other email filters and add noreply@messaging.squareup.com to your list of contacts.

Hope this helps!

[Tritter82]

Thanks so much for your reply. My only other question would be is the offer usually there several days? "As long as you're eligible" is a bit vague.

Thanks again for a prompt reply. Much appreciated 

[pamperbeauty212]

72% on 4th loan. Patiently waiting. Square is definitely the best overall POS and the customer support is by far the greatest. I was able to get new loan offers around 70-80% so hoping it happens again. I need a loan for inventory, our business is growing because of square but now it can’t get inventory back on shelves fast enough. 

We get a combination of cash and card sales, but i’m thinking about switching to a cashless business model and accept cards only which will increase processing. 

[Sammie_C]

Hi @pamperbeauty212!

Thanks so much for posting!

New offers are not automatically extended when a certain percentage of an existing loan is repaid.

Accounts are automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers.

We recently added a new eligibility page that you can navigate to by going to the Loans tab on your Square Dashboard.

For any other loan questions, you can reach out directly. Our Customer Support number is 855-897-1838. 

Have a great day!