95% and waiting

[NRVCards2]

Currently at 95% paid and waiting for The Algorithm to notice me. I know it's basically random, but it's pretty absurd after being a long-time user with Square and not having more concrete info other than cue card answers.

[Stacelyn24]

I hear you! Square’s loan approvals definitely feel like a mystery sometimes, but from what I’ve seen, it’s more than just hitting 95% paid. They look at things like your overall sales volume, consistency in transactions, average ticket size, and even how much your sales have grown compared to previous months. If your numbers are steady or increasing, that usually helps.

I’ve also noticed that if sales dip for a bit—especially during slower seasons—it can delay the offer, even if you're almost fully paid off. It’s frustrating not having a clear formula, but from what I’ve seen, keeping sales as consistent as possible and avoiding major dips tends to get their attention. Hopefully, you get that new offer soon! 🤞

[Twpchair]

Unfortunately, for a good year and a half the % paid back to paid off is a trend sticking around. After 13 years myself the good ole years of 70-75% paid off and almost a guaranteed loan I could count on one hand. My last few have been 84, 91, 69, and 81 and last one was 90%  the 69% was due to imo a cancer benefit we did, and it was crazy busy Thursday -Sat, and huge spike in new vs return customers' average daily sales everything spiked late Saturday offer came in about 7pm but just myself I don't take offers in the 60s or 70s. I hate to roll over that much and gobble up the new loan. But I understand emergencies, new equipment, and moving etc, everyone and every situation is different. @Stacelyn24 was 100% correct and nailed everything! My last offer was the first Friday in Feb thank goodness or these last 2 weeks of -25 —35 outside has killed business! But all metrics were great! November - 1st of February has been crazy busy up 55% in total sales vs previous year, up for the first time 40%?in new customers, and my offer finally was 5x to higher than my last 3-4 offers that were the same or 1k higher. So, does it stink to anticipate the old days absolutely but I follow the trends every day, and it is much better than this summer and earlier fall. Offers on the whole are up again, with less rollover and more to work with. Up top late fall, they updated the criteria for loans and metrics, higher percentage paid back reason, the economic and how it impacts offers and we all know and don't forget there is no guarantee if, when, or why not to offers. Best of luck to you and I hope it comes soon. Please keep us posted we are the best resources we have for now. 🤞

[Abby_M · Accepted solution]

Hi @NRVCards2 

Thanks for posting on the Seller Community

While the repayment of your current loan is considered, there are many factors that may affect your eligibility and accounts are evaluated as a whole.

On the eligibility page you can navigate to by going to the Loans tab on your Square Dashboard. This page was built to help our sellers gain insight into the status of their Square Loans eligibility by taking your business’s real time data and comparing it to key factors that determine eligibility. If any of your eligibility factors need work, you can look at the tips we provide to strengthen your chances of becoming eligible.

Feel free to reach out to us directly if you have any additional questions!