Square loans

[Lakcontrola1]

Anyone gotten a new loan offer recently? I’m currently at 83% almost paid off I normally get offers at %75 I have my sales up , no disputes and my mix of customers it’s great .

[Minion · Accepted solution]

Hi @Lakcontrola1 

Your best bet would be to take a look at this thread , the most up to date information on other sellers who are receiving loans. 

Best of luck.

[Lakcontrola1]

Thank you 

[QQFF]

I also want to know that ， because I already reach to 78% paid off now. When I can have new offer？

[Twpchair]

On the whole, it's been trending to a higher percentage paid back to completely paid off. Not all of course as everyone is different and a a few have received an offer in the 70s but we have a good group of 90s still waiting. Good luck to you!

[Jasmineb1995]

I’m at 86% all green no offer yet

[Twpchair]

Hopefully soon! It has been trending higher for a good year now. My highest % was 91% and my lowest during this time was the last one in April at 69% smh. This last month I hoped we were turning the corner there were a few each week in the 70s. That algorithm has got to kick in! Good luck!

[Jasmineb1995]

What % are you now? Any update? 

[Twpchair]

One above just posted just received an offer (no date) and the same amount I believe as the previous offer at 86% 

[ElectricBODY]

Seems like it’s happening to us ALL on square. 

My last offer was this year April when the loan was at 71% paid off. 

now I’m pushing 79% & no offer. 

I emailed support and got back a generic response. Even though up 33% from LYD. 

If anyone knows any else parameters that’ll help keep the thread posted. 

BEST LUCK TO US ALL!!!

[ElectricBODY]

I FINALLY got the loan offer!!!

it was the same amount as before. 
Offered at 86% completion vs 69% the other time. 

Hope this helps ANYONE reading. 

Happy NEW YEARS!

[Twpchair]

Congratulations!!!! You sound like my last 2 offers 91% than 69%??? Regardless, congratulations, and thanks for the update! Happy New Year to you and everyone! Let's keep this rolling!

[Twpchair]

It is hard for some of us that have been around 8-12 years and use to the days of 70-75% paid of and boom and offer. I received a couple of months ago at 69% a fast no for me! I’m not loosing 31% of my new loan. It hit 91% and good offer and I jumped on it. 9% I don’t mind rolling over at all but 30-40% that gobbled up any new offer. I call those fast payday loans for those that are paying them back in 3 mth.  Congrats again!

[worker4life]

Wondering if anyone has had any offers recently in late 2024 or early 2025?  I have had great experiences with the square loans.  These are the best types of loans with the most straight forward terms and honestly I am inquiring because I absolutely have had zero complaints about any experience I have had.  I typically would have had an offer by now with all my marks at good, sales at a significantly high increase and I am way ahead of the payment terms.  Awesome program, just wish I had a little better clarity and understanding on how they do new offers.  Wouldn't care about that information if it wasn't such an awesome program, company and experience.  Square loans are truly incredible.  Any info would help!

[marielmt]

Hi @worker4life!

Thanks for posting on the Seller Community. That’s a great question, I’d be happy to clarify!

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. 

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.

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!

[Matt49401]

We are in the same boat- we got an offer in the fall- and loved it (was surprised they did that!) But we got a second offer at 78%- and then moved ALL our processing to Square. We've paid that most recent offer QUICKLY (got the offer 12/14 for roughly 22K) and we are 92% paid and NOTHING. It's a bit disappointing- my friend uses stripe for processing- and he said like clockwork they get another offer around a certain percentage (I think it was like 75% or something...) You would think they would see all these folks say "We love Square- but the inconsistent loan offers make us want to move..." and they would make changes- but no such luck.

[Minion]

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@Matt49401 wrote:

We are in the same boat- we got an offer in the fall- and loved it (was surprised they did that!) But we got a second offer at 78%- and then moved ALL our processing to Square. We've paid that most recent offer QUICKLY (got the offer 12/14 for roughly 22K) and we are 92% paid and NOTHING. It's a bit disappointing- my friend uses stripe for processing- and he said like clockwork they get another offer around a certain percentage (I think it was like 75% or something...) You would think they would see all these folks say "We love Square- but the inconsistent loan offers make us want to move..." and they would make changes- but no such luck.

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Hey @Matt49401 

First off, welcome to Square Community!  Hope to see you around other parts of the seller community.  

I think you are spot on with the inconsistency of the offers and that being the most frustrating thing with their loan process (aside from the metrics which I'm not a fan of). Some time ago many sellers were probably averaging 75-80% paid back and a new offer would generate. Now the trend seems to be mid 80's and up. .  Granted one still owed nearly 25%+ of a previous loan, so any new offer really would just keep you in a hole digging and digging yourself out. 

I've never used or heard of Stripes process, but I'm sure it is like you say once they meet that certain percentage a new offer Is generated, but like I stated above it also now keeps you tied in with that company.  QuickBooks offers loans, weekly fixed repayment and they are very strict with only one loan at a time until it is paid off, and then a new offer "may" generate after 30 days of being paid off.  

I've used Square loans in the past, but for me it makes most sense when I order my drums of undercoating in bulk, getting the few hundred off a barrel which makes up for the fee, and my loan carried out for over 12 months due to the high volume of cash and checks I receive making the "APR" seem reasonable. 

Have you ever looked into a business line of credit, or even a major CC that could earn you rewards or travel?  I'm only asking this because you are about to pay off a 22K loan in probably just over 30 days which is amazing, but I feel like you could also be making some cash back or vacation flights with the hard work you are clearly putting in.

[Twpchair]

Yes! There has been a few this week with offers. Try to look for the new loan board 2025. Most are still trending higher % paid back. I remember a 86%, 91% and 80% this week. Good luck to you and if you can’t find it let me know I can copy the link for you!