Cracking the Square Loan Algorithm? What’s the Hack, Method, or Trigger for Faster, Bigger Offers?

[Caseydablanco]

Looking to hear from others who’ve figured out how to unlock higher Square loan offers more efficiently.

I’ve had over five Square loans in the past and paid them all off early—so I know history isn’t the issue. The thing is, recent offers have been way lower than what I’ve gotten before. I made the mistake of accepting a smaller one last time, which I think might’ve impacted that.

Lately, I’ve been sending in small outside payments (literally just a couple dollars) after receiving an offer—just to prompt a recalculation. It seems to trigger a new offer a few days sooner than the 10-day window they mention, which helps keep things moving faster.

Curious if anyone else has tried something similar—or found other methods to encourage a higher offer sooner?

Appreciate any insight.

@kpay1
@SquareCapital
@SquareSeller
@SquareCommunity

[Reddogg]

I have consistently had the same loan offers at around 65% repayment. I am now at 90% going into the busy season with no new loan offer. All metrics are green. I had depended and expected a new offer at those percentages. Has anyone else found other business lending loan options ? Square was great, easy and convenient to help a small business scale up regardless of your credit history. 

[Reddogg]

So if others have passed their normal new loan offer repayment percentage of 60-65% and some have completely paid their loans off with no new offers does that mean Square is not offering any loans currently ? I’m at 90% paid with no new offers. Should we be looking for alternative options instead of depending on Square for a new loan offer ? We are heading into back to school and the holiday season. Square was an easy and convenient funding source for small businesses. Hopefully this is temporary. 

[Md3102]

I’m at 81% paid off with no new offers. It’s also been less than 6 months with that much already paid. Everything is green. How long does it take the system to update that it’s over 80% paid and give new offers? Square really screwed me this year in other areas so i would appreciate the loan to attempt to make things right. 

[Reddogg]

I’m currently at 90%. Just looking at the previous loan offer percentage of 60-65% of others and many of us at 70-90% paid makes me wonder what is really going on. We small businesses have come to depend on these loans to help us scale up or help us through our slower times. Sometimes we made decisions based upon knowing that at a certain percentage we would be offered another loan. Loans are definitely needed in this economy. Does anyone have a source for loans, even high percentage that doesn’t depend as much on your credit score ?