2025 square loans

[Arminius]

85% paid off all green and still no offer, does any know what's going on 

[Minion]

HI @Arminius 

Trends from the last year + when it comes to a new Square loan offers seem to be right around your % of minimum 85% plus.  Other than the normal continue to swipe cards and pay off that loan you seem to be on the right track given your percentage paid back and your metrics are good. 

[Twpchair]

It’s going slow, a higher percentage paid off to completely paid off. It’s been going this way for a good year and a half now. In the old days of 70-75%, you could almost guarantee an offer, unfortunately, it’s not going that way anymore. Most (not all of course) are in the 80s-90s before a new offer. Maybe 1-2 will post I just got an offer at 76%!!! Offers are coming in relatively close to your previous offer. Some may be 2-3k higher a good percentage is lower than the previous. There’s a lot of factors going on and most have nothing to do with you or your business. Lenders have been very tight with lending out larger loans and watching the markets, the interest rate, the economy on the whole. All of which affects us and we are feeling the crunch with loans. Most are people are posting “why is my offer lower and my sales have doubled or tripled”? Hopefully, things swing sooner rather than later. My last 3 offers were 84%, 91% and yes 69%. Consistencies hasn’t been very clear. I’ve been with Square 12 years now and like everyone else 4-5 years ago I could almost guarantee an offer at 70-75% and each offer was larger and larger. It’s just not happening now and hasn’t been for some time. If you were use to a certain % or business has doubled and hoping your new loan offer will continue to grow with it and I am just being honest with just be prepared to not get to excited. I could count on my hands how many people who at least post here who’s offer went up 20k or doubled with their increased sales. When the economy turns around and the rates start to drop hopefully we can get back to normal. Good luck to you and everyone waiting for an offer. I’m now at 84% all green metrics, sales are up, and fact so far this year 2-3 times higher than normal, and yet nothing. 

[Arminius]

Last year April I had my last offer and it came in at 68% , even during Covid on worse Square capital came thru .i been with square since 2016 

[Twpchair]

April was the one I was offered at 69%! Thank you for sharing that! I follow the trends and that's interesting that's about when it turned around and slowly went higher and higher percentage paid back. From about June till August it was quiet in here with offers. Same for myself, during the peak of COVID my offers were still pretty high and roughly still in the 70s a few at 80 or 81%  I am in Michigan, and we had some of the strictest conditions, and one of the last few states to open back up 2 years later! I would have to look back but at the very top, it tells you how you become eligible for another loan. I believe around June/July is when they added the economy, the market, the stock market, and the shareholders section. I just know what I have been seeing for well over a year now and it's a higher percentage paid back and roughly around the same offer as the previous offer. I hate to be the Ole Debbie downer person but I would rather let you know what's been trending rather than say “Well good luck to ya!” I am the positive type person and its been pretty slow. Of course that's not everyone because we are all different, our processing is different, and our volume and dollar amounts. The biggest thing to keep to zero or as little as possible is disputes and chargebacks. That involves a lot of people going back and forth and you as the owner provide everything under the sun to prove or provide all the information. I really hope you are one of the rare ones who gets an offer soon! Good luck and please keep us posted. It really does help others who are waiting for an offer. 

[Arminius]

And on the total of loans that came thru my resturant from square capital is 15 , which it would mark this one  16th if it ever comes hopefully it will 

[Arminius]

Thank you everyone who chimed in on this convo, and my business location is st.louis mo .

[marielmt · Accepted solution]

Hi @Arminius !

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. We can’t guarantee a loan offer even if the key factors displayed on the eligibility page show all “Good.” 

We will continue to review your account daily for loan eligibility. If you become eligible, you’ll be notified directly on your Square Dashboard and through email.

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

[Bcarnes]

Hello! 

I’m at 73% and normally I get an approval around 75-80%. Hoping to get an offer soon. Coming out of slow season post holiday as a hairstylist. 

[Twpchair]

Hello, I just received one Friday and I believe I was 82% when I looked in the afternoon after my update around 1-3 pm. I didn't receive an email regarding the offer but I haven't been either only in my dashboard. Around 6:30 I jumped on and an offer was there. I did have 3 very busy days in a row and my % paid back went to 84/85% I believe. I accepted it at % I will have to go back and look it could have been a point or 2 higher paid back. I don't take offers in the 60s or 70s if at all possible because I don't want to eat up 30-40% of my new offer. It was 5k higher than my previous offer. All metrics are good. Projected growth increased, new customers grew, and above all no disputes, chargebacks, or returns. It's hard when every one of us is different, we process differently. That's about all we have here is each other and posting our information and following the current trends. Until @Minion cracks that ole algorithm we are it and keeping each other undated. Good luck!

[Arminius]

That’s awesome next I’m happy for you 

[Twpchair]

Thank you!! Hopefully, I started a trend! We need this thread to light up with offers! It is way overdue. Good luck to you and everyone waiting!

[Arminius]

From your mouth into gods ears hopefully 🤞 😊 square come thru always , the complaint is always when . It’s a good feeling knowing everything is still ok with square capital 

[Twpchair]

You know it! If more people posted and used these sites it would help others see their percentage, a tad higher offer or the same, etc. The like the one above who posted I lurk but wanted to share that she received an offer and 2 others this week posted a new offer higher than the previous and both were approved in under 40 minutes and deposited that night. Unfortunately, mine will be on Monday sometime. My old loan is gone and I rolled over 1,183.00 I believe or close to it. I am ok with that. We did better on Saturday than I thought and today for a short day did well. It's a coming I didn't think till March/April but we have been very busy since late October its almost doubled in sales. Which is good but a day off is needed badly! Good luck and keep on swiping!

[Brooke34]

I'm at 85% basically just owe the fee. My sales have not been better than last year but I really need an offer to keep my doors open. I have put all my profits into paying back a large Square loan. Now I need a small one to get me through until busy season and be done. If anyone in loans can help me get this done. My loan term is up in June and I don't want to owe a big chunk at once. 

[Twpchair]

The good ole wintertime post-holiday blues. I guess I didn't think about beauty salons or barbershops. I know most here in Michigan hibernate with the animals in the winter 😆 now that I think about it even though we work with the public in the winter I seem to color my hair once and maybe a trim? Not like the spring and summer even the fall too. In the square settings in your profile do you adjust your hours? I don't know if you close on certain days or not. The reason I am asking is because it is supposed to pick off that dip in sales as closed so your metrics don't drop. When we are slow in April and August I am retail furniture and April is usually when people are gone on holiday, between seasons, and usually rains every day or snow. August is back-to-school month and it's just expensive for clothes to supplies. We don't close but my metrics dip for a week or 2. If your metrics dip try that and see if it helps. It takes a couple of days to adjust most say but they maintain better. Good luck and hopefully people will get out and get a fresh cut soon!

[Bcarnes]

My metrics have been pretty consistent and my sales have increased by 15% since my last loan. 

[Twpchair]

That's great! My offer went up last week when I received it. The same is all good. Sales are up, trending up for projected growth,  and new vs returned customers are all up. We had a crazy mid-October up until last Friday (the day I accepted and approved) 2 major storms (Michigan) and were in 3rd starting today smh. We got 10-12” just about both storms and this is calling for 8”  smh. I have never been closed this much in the 12 years with Square as I am now. Good luck and let that offer be a great one!

[Bcarnes]

I’m in Ohio (Toledo)! Between weather and everybody being sick it’s been kind of slow; but not too much where my metrics have dropped. Between retail and reoccurring appointments; I’ve been able to stay consistent even with two off days. I have clients that do book on my off days as well so I’m not missing any days for card processing. As of right now I’m 77% on my loan ($9900). My sales have jumped from last year by 15% so I’m hoping to see an increase in my loan. This is considered a “slow season” for some stylist since it’s after the holiday. I’ve fully accepted that they aren’t going to give me another loan until I’m in the mid/upper 80% (ughhh lol) so I’m trying to keep on keeping on until I see that beautiful blue circle on that bell lol. Good luck to those who are still waiting on a loan and congrats to those who’ve gotten theirs already. 

[Twpchair]

We started picking up in October instantly and never slowed down until 2 weeks ago. But I don't blame a sole. I'm a retail furniture and decor store. My metrics before that were just amazing up 35 over the previous year and projected growth up 55% it is what it is we can't control the weather or the algorithm! Just roll with it the best way you can until it breaks. Good luck to you!

[brown17]

Not ready for a new offer yet but going into my busy time so following thread.   Last offer was in October and it was my highest and offered at 62% paid off.   I took it because I needed it at the time, so a lot of it went to paying off previous loan.   Hoping my next is higher!