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? 

[TrueEssence]

I'm currently at 74%. Hopefully, I can get one soon.

[Bizcredit]

How long did approval take this time once you accepted the offer?

[ianssoph]

They deposited today around 2pm!

[Tritter82]

I really think that it's just a matter of keep on processing and hope for the best. I never see any similarities when I get offers. Right now I would have expected one by this point, as everything is way up, but it hasn't happened yet. Yet previously I got it sooner than expected. All I know is I love the ease of square. 

Let's all keep our fingers crossed 

[bsa77]

I don't know. I have checked with local banks and other processing companies. The only thing that sets them apart are the loans but if they are not offering them the others are way more beneficial!

[Beardgal2006]

Did u ever get another offer?

[Thistledome1840]

My last loan came at 48%. This one is 6 months in and started at 19500 and payback 22000. I’m at 81% and still no offer. There stock is down $200 a share. When you are paying back 2200-2500 a month it seems they would want to keep that extra money coming in. It’s really frustrating because we are all taking a hit in this economy however our sales are still going strong. I look forward to the loans as it helps me adjust my capital for the next 6 months. Now I’m getting a little worried. If I go 100% paid off I think I’d rather just keep the 2500 a month and adjust to that.

[ianssoph]

They were definitely offering capital sooner last year. It looks like everyone is 100% paid back before receiving another offer this year. I’ve never gotten past 80% before being offered a new loan. But at least they’re still offering!

[Nchairsalon]

where you stats all in great shape  when you got each offer? im at 77% paid in on my 4th loan last offer came in February at 75% i hope i get one soon

[ianssoph]

I had one “square review” and my account was actually frozen for about 4 days. When that was done they offered me a new loan within a week and I received it. I’m currently at 50% paid and hopefully get another offer before the year is over. 

[Shanestowing]

I recently got my first loan. 65% paid back in first 60 days. Will my second offer be larger? The first loan was about 40% of my average monthly sales. So I’m hoping for a much larger second load. 

[Thistledome1840]

From my experience it has come close to doubling each loan. I started low and this is my third. Each time I’ve come close to doubling. 2500,4500,8500 last 19500. It just depends on how your card sales are. Cash sales aren’t really included 

[TrendzbyM]

I am at 76% paid off and haven’t received any offers yet . Waiting patiently , I usually don’t Have to wait this long. Maybe square is doing it different since they changed it from capital to loans . 

[MayaP]

Hi @TrendzbyM,

Welcome back! 

I am happy to create a case and escalate this internally to Square Capital? 

They can hopefully provide some more insight. On our end we don't have much. 

Let us know!

[ianssoph]

They also switched from square inc. To block inc. In December. So who knows.

[ianssoph]

Just letting everyone know that I am 73% paid back and was just offered $30,000 which was $5k more than my last offer. I accepted and was almost instantly approved. Hang in there! The offers are still happening!

[TrendzbyM]

Wow! I am at 78% now and still no offer . Still patiently waiting.

[ianssoph]

Idk if it helped but I did their survey every time I logged in to my dashboard. Who knows, but it will come!

[TrendzbyM]

Thanks for the tip! 

[OceanicAvenue]

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[OceanicAvenue]

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