I'm where you are at (minus the actual loan offer part.) Sale are up about 60% over a year ago and processing is up about 65%. All the other things are in the green.
I think most people's frustrations are that it's just not transparent and there isn't a clear goal to strive for. It is also disheartening to just be told the same quotes over and over. It comes across as uncaring and impersonal. Which if that's the case is fine, that should be conveyed to clear up misconceptions and so people don't get their hopes up. It would also come across as more professional to state those things (economy and such) from Square itself. It would let people know where they stand and can make appropriate decisions.
You paid that back pretty fast, I seem to remember you got the last loan about 1 week before me, mid December, 95% paid back, wow, Iam at 74%, maybe when you get it I am next 😂
I was scrolling and looking to see if received a new offer yet? Last I saw was 95% paid off?
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Wow this is almost scary, yea i’ll be a week tomorrow at the ineligible screen. But last time before i got my offer i was in the same state for 5 days but at a lower percentage
Yes, it’s actually a good thing. From my experience once you get over that 65% based of your transactions and eligibility factors, it goes in and out of it. Only after coming out of it will the system have an offer. This is the only time in a year it has gone this far without producing an offer and it seems to be others as well, so thats why i’m assuming its an internal thing with square . I been studying it because it’s honestly really a good source of funding and i’ve dealt with a lot. By far square is the best.
Mine went onto that screen on Easter Sunday and changed back Monday. Then changed to it again on Tuesday, and then back to the one with the factors on Wednesday and that’s where it’s been at since. Very strange.
huh, I did not know that. The last offer I had back in June it got to roughly 70% paid off and I had an offer waiting the next morning. 10th loan here and I have never had this screen before so I was worried of course as the loans are a great source of extra capital for my business, especially as we come into our busy season.
Yea, you may have missed it , but sometimes it goes onto that screen for a couple hrs, sometimes a day or 2 etc. I been paying attention to it for the last year everyday. Your the one with the seasonal business?
I do not believe Square is offering loans any longer - we are at 92%, all is green "good" and our next payment date is Sept 28 and we are paid in full for that date - we have never gone beyond 86% - we process over $2m per year and have a square "concierge" who cannot even get an answer BUT HE SAYS all his customers that process at our level are not getting loans any longer _ _ WE WILL HAVE TO DECIDE TO CONTINUE TO PROCESS WITH SQUARE IF WE DO NOT GET A CLEAR ANSWER ON THE SQUARE LOAN PROGRAM STATUS
All the signs are point towards a problem with square. we process a lot we have grown form 5 to 7 figures in a very short time.
I will also have to reconsider. I’m opening a new location of my business. That I believe will 3x current sales. And two other locations in the next 12 months.
They told me my business is ineligible for a square loan do to the type of business.
