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Loan offer withdrawn after making an unscheduled payment

I have been with square since 2017 I have done many payroll loans without a problem.

I had a recent offer but didn't want to carry the total amount still owed on a previous loan over to my new one, so I used funds from my Square savings to make a payment on my existing loan. My new offer completely disappeared once I did that and hasn't been back. 😟 I feel like I'm being penalized for paying on my loan from my savings but I don't know? Will my offer come back?

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Square Champion

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Hey there @TinaLilac 

 

in the loan agreements, and in the loan help docs, it states that if we make an unscheduled payment then all current loan offers will be withdrawn. Another loan offer should come. But not until after the payment has processed. 

Here’s a link to one such help document. And a screen shot

 

IMG_5141.jpeg

Chip
Square Champion, Innovator & Expert
Piper’s Ice Cream Bar, Covington KY USA Website Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

View Best Answer >

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Square Champion

Best Answer

Hey there @TinaLilac 

 

in the loan agreements, and in the loan help docs, it states that if we make an unscheduled payment then all current loan offers will be withdrawn. Another loan offer should come. But not until after the payment has processed. 

Here’s a link to one such help document. And a screen shot

 

IMG_5141.jpeg

Chip
Square Champion, Innovator & Expert
Piper’s Ice Cream Bar, Covington KY USA Website Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.
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Square Champion

Unfortunately, everything @TheRealChipA said was exactly right! In the future if I want to pay my loan off early or in your case not roll over that balance. Don’t do it when you have an offer (as you see) it general takes 7-10 days for your payment to post and clear on their end and for you to see it. If I pay my off early or drop 3-4k into it. I try to do it between 50-60% paid off depending on how much you process a day that way I kinda know when it is cleared I would be about 80% on my end and then the extra money should have taken care of it or in the high 90% range. Hopefully, the algorithm will pick it soon for you! Good luck!

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Square Community Moderator

Thanks for your insight here @Twpchair and @TheRealChipA ! Please let us know if you have any other questions @TinaLilac

 

🤞 your offer comes back soon! 

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Thanks to all! Offer is back 👏

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Square Community Moderator

@TinaLilac Woop woop! So happy to hear this! Thanks for letting us know! 

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Square Champion

Congratulations! That might be record time! I love the fact that you paid it off and you get your full loan!!! ❤️❤️ I am so happy to hear this! Thank you, for the update. Here is to a great 2025!

Square Champion, Square Champion Innoventor, Square Champion Expert, Square Champion
Advisor.
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