Has anyone received a loan offer in 2023?

[Blackbear579]

I'm at 71% and usually see a offer by now (between 65%-70&).

[#2]

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. 

[GlitzyCow]

I’ve been paid off for six months. I’ve never had a problem so people getting renewals at 60% is very disheartening. The weird account activity that showed up during the outage did go away today. They told me they were revamping the metrics page but I don’t see any changes other than that for me. The not getting a loan offer is more of a concern to me bc I feel like I’ve done something wrong. Yes it’s nice to have capital but it is concerning when offers just stop for no reason.   Not saying I can’t make it without a loan but it sure makes you feel like something is wrong when you don’t get offers any more but consistently process plenty every month for one. 

[ftblmeme]

How many years have you been with Square if you don't mind me asking?

[Mguerrero08]

I’m at 7 years if you are asking me. I get confused who tags me sorry if it wasn’t for me!

[ftblmeme]

The more people who answer the better! So it's not possible to become "immune" to offers then. I was thinking if merchants use Square as their main processor anyway, they might not feel the need to entice them into staying if that makes sense? But obviously not the case if long standing accounts are still receiving offers.

[Twpchair]

😆 🤣 😂 I do too! I've been with square since 2014 if it was for me!

[GlitzyCow]

I believe over 8 years now. 

[ftblmeme]

Were the offers consistent every year up until 2023?

[GlitzyCow]

Yes. I started processing much more last year with our business but I don’t think square should see that as a bad thing. 

[aceshighcyclesh]

I can’t believe you still haven’t received an offer! That is crazy! 

[Paula_hanks19]

I’m still showing ineligible as well but when I click the drop down that will show all of the factors that are considered, I show the green “good” on all except for the loan repayment and it shows “in progress “ which I have never understood why I would not show as a green “good” seeing how they are taking well over $1000 a week towards the repayment and I have always exceeded the 60 day minimum payment amount within the first couple of weeks within each 60 day period. I have already repaid over $20,000 since November and am at 73% as of today. Like most that I have been following in this thread, I am desperately needing an offer right about now because with food costs being higher than ever on top of coming out of the worst first quarter that I’ve ever had since opening, I need the boost to help replace some broken equipment and purchase inventory now that sales are finally on the upswing.

[JonathanBarber]

Square Capital knows something. They know the financial meltdown that is coming and have out on the brakes. They did the same thing very very early in 2020 even as the reaction to the pandemic hadn’t taken  hold. They know what’s going on and I don’t believe for a minute that they will open up the purse and offer the loans to Square merchants anytime soon. I am 100% paid on 7k and nada. This is my 9 loan and all have been repaid with impeccable regularity. We would all do well to consider that funding has dried up. 

[Paula_hanks19]

I have that same gut feeling as well after I reading the number of comments from other merchants like myself out there, who have all been waiting for an offer, on top of keeping up with the things transpiring almost daily in our government and our economy. 

[aceshighcyclesh]

I have always paid my loans off ahead of schedule. currently on my 10th loan and was showing all green until a week or so ago when it switched from showing eligibility factors to a white screen saying I am not eligible for the square loans program at this time...very strange.

[RL35]

I received an offer this past Tuesday and my current loan is 75%paid off. But it's been 2 days and they havnt approved or denied my loan application yet. It has never taken this long for them to make a decision.  It has always taken an hour or so for them to approve my loan apps in the past. 

[Sammie_C]

Hi @JonathanBarber!

Thank you for bringing this subject up!

We appreciate you sharing your concerns but our Square Loans program is still ongoing and we are still extending loan offers. We are still continually re-evaluating Square accounts on a daily basis to determine if they’re eligible to receive another loan offer.

Please let us know if you have any other questions!

[Sammie_C]

Hi @Paula_hanks19!

Thanks so much for reaching out!

We can’t guarantee a loan offer even if the key factors displayed on the eligibility page show all “Good.” I understand this isn’t the best experience, so I’ve shared this feedback with the product team.

There are many factors that affect loan eligibility, but the factors listed on the eligibility page are key factors we consider to help you understand our process. There’s no additional information we can share at this time, and we can’t go into further specifics about program requirements because the criteria we use is proprietary.

We will continue to review your account daily for loan eligibility. If you become eligible, you’ll be notified directly on your Square Dashboard and through email.

Let us know if you have any other questions!

[aceshighcyclesh]

@Sammie_C Is there any info you can provide regarding accounts not showing eligibility factors anymore? Mine have always been viewable but about 2 weeks ago it no longer lets me view said eligibility factors. I was curious if this is some sitewide change or what?

thank you.

[Sammie_C]

Hi @aceshighcyclesh!

Thanks for your question!

Due to your current account activity, we are unable to evaluate your eligibility for a Square loan at this time and cannot predict when you may be eligible in the future. If you do become eligible for a Square loan, you’ll be notified directly on your Square Dashboard and via email.

Let us know if you have any other questions!

[aceshighcyclesh]

Thanks for the response, I am still confused about what that means exactly as I have been and continue to process almost daily with square.

Thank you for any other info you can provide!

[Swain]

I got an offer finally!!!! 77% paid off previous. Hopefully it goes through asap!

[Me2018_]

Glad to hear for you. Was your offer more or less than your last amount?