2025 square loans

[Arminius]

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

[Twpchair]

Paying it off doesn’t mean you’re going to get an offer immediately. There is no guarantee of if or when unfortunately. How are your metrics? Once you paid it off you go back into the algorithm and wait for it to pick you off. Let me know how your metrics are that will help some. 

[Twpchair]

I apologize I read that wrong. I paid my off a few times. I could see in my dashboard it said I believe (it’s been a bit) pending although cleared and square acknowledged that it was paid off and chart changed. It took mine 2 days from pending to complete paid off and no more loan showed anywhere but with prior loans. That is when you officially go back into the algorithm. I asked a couple of people like myself the first loan I paid off early and they stated that is normal timeframe once it clears through square and 2 days of no stop payment or bank rejections anything out of norm. It falls right off and back you go. Good luck and hopefully it fell off by now. 

[locksmithnick]

I hit 70% today on my August loan, which was my highest loan to date. I’ve been using Square Capital/Loans since the beta program in 2014, and the next will be my twenty-third loan. 

To note, my sales are up 58% over last year, and I have the Square Credit Card as well. There are some that believe you can’t have both a loan, and the credit card. From my experience, that’s not the case. I have received multiple loans while having the Square Credit Card. 

I should hit 75% over the next 10 days and will update if my offer comes in, per usual. 

[Twpchair]

Yes, you are correct now on CC or for some it lowered their loan amount by half and they can call and opt out of the card and chose NOW which one they prefer or if you are happy with both you can have both. In the early stages no it was posted and pinned 1 or the other. But, both seem to be working out fine with each other and bugs worked out. So, you and I both were in the test group and didn’t know it for the first loans through Square. Good luck and keep us posted. 

[locksmithnick]

I got offered and then approved about 15 minutes later. Now says “your money is on the way”, so I might have it in the account tomorrow morning. For whatever reason, BofA doesn’t seem to get it as quickly as some others say they get their deposits, but whatever. 

[laurenweir85]

Hoping mine will come soon!

[Twpchair]

It does state 1-3 business days and usually they are pretty fast. I had  noticed more approvals last Wednesday-Friday than usual and it could be just a little slower is all. I tend to be a Saturday person and I am use to waiting till Monday and sometimes Tuesday even. If there was any issues you would see a message in your dashboard if not could be a mix of both. My Credit Union post if it hits at 2pm it’s there. My old bank 10-12 years ago nope like 12:01 am the next day? Fingers crossed 🤞 you wake up and there it is!

[kacey_k]

Only on my 3rd loan but each was in my account by time I got back to my dashboard and banking 

[kacey_k]

Heyyyy!!! You’ve always been so helpful and I appreciate you 😊 

This beta you talk about or group for CC  are there requirements or random luck? Not that I need a CC 😉 but I wanna be part of a elite Beta group 😜

[Twpchair]

Ugh, don't get started on the CC topic 😳 and let me tag in a few of the beta @TheRealChipA @ryanwanner @Minion @Lovewell 

[Minion]

From what I have gathered, its invite only still for the CC.  I'm pretty sure that I have also read that you can only have one or the other CC v. Loan.  They could have changed as we tend to miss some memos when it comes to this side of Square. 

As far as the perks go on that CC, maybe its free processing for xx amount of usage or something similar.  You would need to check the fine print on that, but I think that there are way better options out there for a business owner as far as CC perks be it Miles, 0%, CashBack , Revolving Categories etc.  I think Square is on the right path with the CC, but far better options IMO when it comes to having one for your business. 

[Twpchair]

They have 100% changed the only one or the other. Now you can have both the card and still receive offers when available. I know it's been roughly two months, or maybe longer, and I have been in the queue for one. I already have one, so I don't think I will accept it. I didn't know or hear of any perks or benefits from users at all. So far, those reporting back here at least are saying that if they received a 5k card offer, their loan offer tends to reflect that amount, as their offers were a tad smaller. Which I understand entirely, Square isn't going to overextend you. I didn't answer the beta part if you have idea. 

[BodyInBalance]

Did you get an idea offer for a credit card? I've been with Square since 2015 and just recently though this forum resized they have a credit card.

[BodyInBalance]

Realized*

[Twpchair]

For the CC offer if you are eligible it will appear in your dashboard just like your previous loan offers.  

[Kd270]

I’m at 73% and praying I get an offer around 75% or sooner would be nice haha! I’ve gone up 3% last few days so hoping 75% this weekend. I need inventory bad! 

[locksmithnick]

Ha, really strange….i got an offer at 70% like, literal minutes after posting the above comment. 

[Fitnessgirl]

Lucky 😮‍💨 I've been waiting for months for a loan. I'm at 83%.

[laurenweir85]

I’m at 84% 😞

[laurenweir85]

I got my offer this morning! 1-3 business days and my life will be way less stressful. 

[kacey_k]

I FINALLY got my offer on Tuesday this week after being paid completely off (early) March 2. I had my funds in less than 30 min to my square balance