Square Loans Eligibility Status

[jgmotz40]

Hello, I used to be able to check the status of my next loan eligibility on my dashboard. It had a list of criteria that said either "good" or "needs work". When I click on this now it doesn't show that info anymore. Is anyone else having this issue? Thanks

[Candlestore]

@aceshighcyclesh ;

Oh ok, If you decide to call Square again instead of asking about Loan status try asking them why the Dashboard pages are different for some users compared to others.  Tell them you understand your not eligible but want to see their screen as per the instructions above but it does not show.   The only other thing I am thinking of is that Square might be doing updates and for a week you may only get the ineligible status but then the next week or two you may get what I am seeing again.   Since I am not looking for a Loan right now, I do not check the status daily to see if it changes just when I try to help people like you.  But I do remember looking a few weeks ago and just having the Ineligible status..... and just assumed it was from my current loan.... and now it is back to the green Good but before it was Green Smiley Faces..... maybe they are updating that?   Seems like customer service tries to answer the question they think you want the answer to but not your actual question.  Your not eligible for the Loan was the answer which you knew, instead of our website is getting improved and some people may not see the current Eligibility Progress status for example.   Like some support people are like some chat bots and only hear key words and try to answer based on the key words and not the actual question.  Maybe after Tuesday you might be able to see the Progress like I explained above.  Usually that is when I noticed update for my loan statuses over the last few years and might be when you can get to this screen again.

[aceshighcyclesh]

Well it is reassuring to know that you have seen that screen before and that it went back to being able to view eligibility factors again. I will just keep my eye on it as I continue to process as usual. 
I was perplexed by it as in all the years I’ve used square and loans I’ve gotten I have never seen that screen before. When I asked them if there was something about my processing that caused this I was met with very vague answers.

thanks again

[Tchrtestrvw]

Has it gone back to the way it was before? Mine has said: your business is ineligible for the Square Loans program for over 2 weeks. This is my 8th loan with them and I'm always ahead of schedule so I'm confused. 

[aceshighcyclesh]

No, mine is still on the same ineligibility screen. It has never gone back to showing all the eligibility factors since it switched to that 17 days ago. I am 86% paid on my 10th loan way ahead of schedule as my payoff's always are. Also confused over here. I reached out to Square and all they told me was that "due to your current account activity we are unable to determine your eligibility for the loans program right now". What is your percentage paid?

[Tchrtestrvw]

I'm at 72% right now. I usually get a loan offer after about 80%, but with that new screen I'm worried that I won't get one again. 

[aceshighcyclesh]

mine was at abut 78% when the screen switched and I was usually getting offers about 70%. 

[Tchrtestrvw]

Any updates?

[aceshighcyclesh]

Unfortunately, no. At 88% paid now and still sitting on the ineligible screen. Plenty of transactions etc. You?

[Tchrtestrvw]

Same here. I was hoping you had some good news. 

[Tchrtestrvw]

Mine came back up today with the green "good" marking my progress. Has yours?

[aceshighcyclesh]

That is great to hear! Mine was back to showing eligibility factors as well sometime yesterday.

[Tchrtestrvw]

Did you ever receive a loan offer?  I'm at 97% and still haven't. I've never had to wait this long. 

[aceshighcyclesh]

Yea finally! I was at 98% I believe. This time it was a much lower amount but that didn’t surprise me with the state of the economy. Hope that helps!

[Tchrtestrvw]

That is good to know. Gives me a little hope. I've never had to wait this long. Glad you got one! 

[Tchrtestrvw]

Looks like 98% is the magic number. Just hit that today and received an offer. Half of my usual amount as well. How long did it take for it to be approved for you? Thanks for being patient and answering all my questions! 

[aceshighcyclesh]

It was pretty quick, definitely in the 1-3 business day range. congrats. seems 98% is the new 75%

[Oxbow]

Yes!!! Mine has always green......

[Raver2023]

My eligibility Lust is wrong

[anchohoney]

I’m having this issue as well, after 4 or 5 successful loans. It’s bogus and Square’s lack of a meaningful response to address a concern that many, many people are apparently facing is also bogus. 

[Oxbow]

Check your eligibility, the report card has moved there

[ApplePeach]

The square loan life has me annoyed today. Years of square loans with two businesses and I just got an ineligible. It says my chargebacks are too high. I own a restaurant and we get chargebacks only from our square online orders. The system is too easy for a fraud person to use stolen card numbers to order food online. I have called to complain about the lack of security for businesses but they gave no resolution or additional safeguards. I called today and the rep tells me they actually have a way to block ip addresses, customer profiles, and cards in the risk manager area. All this time I was without this information when calling for help! The same ip address did 6 chargebacks since May using 3 different cards. So even with 160k processed in the last year, and all the chargebacks relatively small amounts (usually$50- $70) and all other factors good, we can not get a square loan. I think chargebacks vs sales this would make up less than 2% of all transactions processed. Will update if I ever get an offer, just needed to vent. Yes they should consider chargebacks but also the percentage of overall transactions with no issues as well.