thread Re: Loan Account Activity “needs work” loan decline in Banking With Square

Loan Account Activity “needs work” loan decline

jessential — Sat, 20 Sep 2025 12:10:04 GMT

I had a loan offer 3 months ago and was declined for my loan. My loan activity has been at “needs work” since due to the declined loan. No disputes, etc. Does anybody know how long this takes to go back to “good” ? Or to receive and offer ?

Everything else on my dashboard has been on green “good” on a consistent basis. My current loan is 97 percent paid off, way ahead of schedule.

I tried to contact the loans team but they don’t have an insight on this. They just say watch your dashboard and quickly end the conversation.

Some of my frustration lies that I still have not been given a true valid reason for my loan decline in the first place, and this “needs work” on my dashboard just sits there without option to dispute. I know seems a little unethical but I gave up on that months ago.

I am not trying to pull anybody into my “rabbit hole” or make this post “moody” just want to get some insight on how long this “needs work” could be on my dashboard.

Re: Loan Account Activity “needs work” loan decline

MayaP — Mon, 19 May 2025 22:01:11 GMT

Hey @jessential, thanks for reaching out and sharing your experience. Your frustration is completely understandable. I’ve contacted the team to see if we can get more insight. Please note insight into the decision-making process is limited, but if I learn anything new, I’ll send you a direct message. Thanks for your patience and understanding!

Re: Loan Account Activity “needs work” loan decline

Abby_M — Wed, 21 May 2025 17:32:48 GMT

Hi @jessential

Thanks for posting on the Seller Community.

We appreciate your interest in Square Loans. To help ensure you get an offer that’s just right for your business, Square Banking reviews accounts on an ongoing basis. There is no specific information we can share at this time because eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. Please note that being declined for a Square loan in the past may impact your eligibility. Keep in mind, loan offers are also based on a variety of other factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.We will continue to monitor your account and notify you if your business becomes eligible for a Square Loan offer.

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

Re: Loan Account Activity “needs work” loan decline

jessential — Sat, 31 May 2025 21:40:51 GMT

I understand how the system works, what I don’t understand is the lack of communication on the part of the managers and underwriters when questioned. I have sent several emails and put in many hours of phone calls to just plain out be rejected for answers every time.

I totally gave up on a straightforward answer on my loan decline, because after several weeks, I came to the conclusion SQUARE thinks I just don’t deserve it.

I do have an issue, with the fact that my account activity on my dashboard has been effected by this more 4 months with no option to dispute it and no recourse. This activity is only because of the decline and still do not have a valid answer on why.

I do have an issue with being told that they cannot escalate this anymore, when they still have not addressed the reason for my escalation. If my “frustration is understandable” don’t you think that SQUARE should help do something about that?

The customer service is very minimal and loan agents are rude. They have managers that make major decisions have no phone support. They just send generic cut and paste emails, somewhat like the responses from the moderators.

Just an example of good customer service…. I had an issue with my Apple phone . Send a chat to an Apple agent . They spent a few minutes trouble shooting. Connected me to have a manager call me back , because …. Get this … their managers do not chat or email only respond by phone . Within 2 minutes a manager called and arranged for a new phone. This all took less than a half hour. Now that is exceptional customer service!
Square should be efficient . If they spent less time sending worthless emails and more time just addressing the issues they created they might get something accomplished.

Re: Loan Account Activity “needs work” loan decline

jessential — Wed, 04 Jun 2025 10:10:43 GMT

Well apparently I am a huge risk …. Just paid off my last loan more than 5 months early without a late payment. Dashboard is all “good” except for my payment activity due to the decline m that I have no option to dispute or even inquire about. Four months and this still hangs on my dashboard.
You’re correct very frustrating!

Re: Loan Account Activity “needs work” loan decline

Salonprokanika — Mon, 22 Sep 2025 15:46:09 GMT

I’m currently in the same boat. My last application was denied in May. I haven’t gotten an offer since and this “needs work” hasn’t fallen off in months.

Re: Loan Account Activity “needs work” loan decline

Twpchair — Wed, 24 Sep 2025 03:04:50 GMT

What area needs works? Mine has dropped while taking a week off in the winter but as soon as I start processing daily it went right back up 3 days later.

Re: Loan Account Activity “needs work” loan decline

Twpchair — Wed, 24 Sep 2025 03:05:19 GMT

What needed work?

Re: Loan Account Activity “needs work” loan decline

Minion — Wed, 24 Sep 2025 09:49:12 GMT

@Salonprokanika wrote:
I’m currently in the same boat. My last application was denied in May. I haven’t gotten an offer since and this “needs work” hasn’t fallen off in months.

Did you miss any payments on your last loan, or did it take you longer to pay back your previous loan that normal?

Other options to look into would be either a personal or business LOC depending on your business structure. While it may be more paperwork up front, a inquiry on your credit it could prove to be worth it knowing the funds are always there when needed,

Re: Loan Account Activity “needs work” loan decline

Maryh12 — Sat, 25 Oct 2025 00:31:39 GMT

Did you ever get any updates? I’m in the same boat

Re: Loan Account Activity “needs work” loan decline

Salonprokanika — Sat, 25 Oct 2025 00:50:25 GMT

No. It’s been 5 months now so I’m leaving Square and going to Stripe because of it lol

Re: Loan Account Activity “needs work” loan decline

kacey_k — Sat, 25 Oct 2025 13:14:16 GMT

I’m sure this has been answered but I can’t find it, but have you had any disputes at all? Chargebacks?

Re: Loan Account Activity “needs work” loan decline

Salonprokanika — Sat, 25 Oct 2025 17:43:51 GMT

None at all. Just a declined loan application in May 2025.

Re: Loan Account Activity “needs work” loan decline

LouLou1111 — Sun, 26 Oct 2025 01:41:39 GMT

I’m pretty frustrated I’ve had over $25,000 in square loans all paid.
Have been at needs work for a year.
Meanwhile they take $60 to process a **bleep** invoice.
I'm pretty over it.
I have asked and have gotten the same AI bs response about 5 times that was posted above.
I find it all really annoying.

Re: Loan Account Activity “needs work” loan decline

Salonprokanika — Sun, 26 Oct 2025 02:03:56 GMT

Same. I’m going to Stripe

Re: Loan Account Activity “needs work” loan decline

Creldredge — Mon, 10 Nov 2025 19:46:43 GMT

Mine has been 3 months now "needs work" and of course no one can answer a question in the square loan department other than the standard generic email they send. It's absurd. I'm also going with stripe. Been working the last month to transfer over customers and invoices.

Re: Loan Account Activity “needs work” loan decline

jessential — Wed, 12 Nov 2025 21:32:57 GMT

Good luck if you get anywhere with them. Square is impossible to communicate with and in these chats they plant people that try to smooth and steer the conversation.

They refuse to help and brush you off to another person that refuses to help. Useless !

Re: Loan Account Activity “needs work” loan decline

jessential — Thu, 13 Nov 2025 00:07:03 GMT

I was denied for a loan twice , for another persons account status no consideration my account is in good standing , increase in income and paid off on time . Zero consideration for that. ZERO!!!!

Writing here just helps you vent, because I can assure you square doesn’t care one bit to read them or they would be ashamed .

I spent weeks on the phone with loans, customer service and anybody would listen , just pushed around and borderline bullied .

Re: Loan Account Activity “needs work” loan decline

Salonprokanika — Thu, 13 Nov 2025 00:48:40 GMT

That’s exactly right. They won’t see it and don’t care. I’m taking my transactions and invoices to Stripe.

Re: Loan Account Activity “needs work” loan decline

jessential — Thu, 13 Nov 2025 02:26:16 GMT

I will need to look into this myself . After being denied a second time for my account being “ associated with” another account and no real reason for how. They refuse to help me figure it out. I start to question the security of any account with square. Customer Service says no such association.

You ask over and over and they basically tell you it’s none of your business . I think it’s 100 percent my business and it should be illegal for them to withhold such information .

I have been hung up on , denied escalation, the managers must be imaginary because they literally refuse to come to the phone . They send generic AI responses that don’t even reference your concerns.

The worst customer service I have ever encountered in my life.

This last time they requested a sales slip ( being punished for a big sale ) and denied me in 2 minutes for an associated account . Really ? Why did you even ask for the sales slips? But never ask me about the reason you denied me for?

How do these people sleep at night.