Has Anyone received Square Loan offer in 2022?

[TheMercantile]

Has anyone received a square loan offer in 2022? For some reason it says I’m ineligible, however I was just offered 100k in Nov. I turned it down because the payback rate was 17% so that means with a good Dec, they would’ve taken $51,000 of my profits in just 1 month. I did a thumbs down on the offer because of that. Does rating the offer poorly take me out of receiving offers? 

[Groomerlyfe]

 I am at 84% and haven’t been offered anything yet. This is my 4th loan and usually I get a offer around 75%. I actually need it this time and they are taking their time. 

[Nchairsalon]

any offers yert

[dgermanshepherd]

I'm at 82% and nothing... Wonder if the payment reporting glitch has something to do with the lack of offers? I check all their boxes for eligibility and no offer

[Nchairsalon]

my account is under review and my transfers suspended. 

[ianssoph]

Did they ever offer you another loan?

[Nchairsalon]

I'm at 81% and no offer yet. hoping to get one soon I was under  review  2 weeks ago. I always get loans right after I hit 75 and they have been pretty steady coming. Wonder what's up or If it's the new norm. I usually always have anxiety when I'm reaching a certain percentage  hoping for a loan and always get one 

[Nchairsalon]

how much do stats master. I was great the past months and wasn't offered anything and now I tool a few breaks and some of my stats  "need work" was this used before  and just didn't see it. I feel frustrated  I should know it's coming but I dunno I'm at 81%

[Nancy__]

Hi @Nchairsalon 

Thanks for posting on the Seller Community👋.

We have contacted you directly in regards to your account.

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

[Jalisco20]

Hello could someone please review my account for a possible loan.

[Sammie_C]

Hi @Jalisco20!

Hope you are having a great day!

Accounts are automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers.

We recently added a new eligibility page that you can navigate to by going to the Loans tab on your Square Dashboard.

Let us know if you have any other questions!

[Nchairsalon]

update.  i received an offer last night! so happy i was at 86% how long does the approval take

[Candlestore]

Congratulations!!

When I was approved for a loan in October it took 2 days for the funds to be in my account.  If I remember correctly I accepted it on a Saturday and had the $$ on Monday.  

[Nchairsalon]

thank  you! i was getting so anxious because it took longer for an offer this time. but im so happy i got one!. god bless!

[Nchairsalon]

have you received an offer yet

[bsa77]

It is time to look elsewhere. I have been loyal, zero issues, high volume and here it is Christmas when businesses are looking to take advantage of growth options with new inventory and nothing. Super disappointed and going to meet with the our local bank to process our cards going forward. Much more affordable fees since there are no loan benefits!  

[AliciaMQuintero]

I’ve had such great success with square and their loans have helped my business tremendously! It has given me the opportunity to expand by purchasing additional equipment which allowed me to make more product. Everything we sell is handmade by me and cost is up on supplies. I’m currently at 83% paid off on my current loan and I’ve been looking for an additional offer since I hit 70%. I know the process of getting a loan offer could not be guaranteed but an additional loan offer would help get my business ready for the holidays which is the busiest time of year we have. Does anyone know or have some kind of insight on what percentage is most likely to generate a loan offer.  I do not want to apply for an additional loan from somewhere else because the convenience of square loans is what makes it so nice. 

[Tritter82]

I've had offers from 70% to fully paid. It's hard to say for certain. Make sure you go on your dashboard to check though because I often times didn't receive an email it was just on my dashboard. 

[bsa77]

It is time to look elsewhere. I have been loyal, zero issues, high volume and here it is Christmas when businesses are looking to take advantage of growth options with new inventory and nothing. Super disappointed and going to meet with the our local bank to process our cards going forward. Much more affordable fees since there are no loan benefits!  

[thehealingplant]

It is definitely frustrating for sure. We’ve constantly shown growth throughout each of our loans and to be sitting at 75% with Christmas a week away and no help to market is really just painful. 
We’re going to keep our fingers crossed but for us it looks like we’ll have to shut down for a few weeks entirely since we can’t keep up with our competitors marketing budgets that already far exceed our own.

wishing everyone the best of luck along the way and a blessed holiday season 🙂

[ianssoph]

Hey! Wishing you best of luck as well! Keeping my fingers crossed that you receive a loan offer as well, if you don’t mind posting when you receive an offer that would be great! Gives us all hope! 

[Nicole9k]

I have been using square for almost 2 years now with multiple loans. We are reaching the holiday season very soon and holiday product is starting to come  in at an alarming rate. If we don’t get a renewal soon this is going to drastically hurt our business. We are at 65% on our current loan and never had to wait this long for a renewal. Our business depends on new product sales. Just like everyone else this is beyond frustrating. Square loans have always helped us grow and it seems this time we are doomed to fail due to a lack of renewal. We are soon to reach $200k in annual card sales in our second year of being open. If it’s based on sales, customer mix, and usage of card sales then what gives? We far exceed all these requirements. If we don’t get a renewal soon we won’t be able to provide the product for our customers that they have been patiently waiting for to be released.