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. 

[HillbillyDiner]

I’ve got several loans over the 10 years using Square— 

I’ve paid everything in about 6 months or less (last was $20k). Last month they offered me $55k and I modified it to $40k. They turned me  down.  No reason. No explanation. Nada. 
On my volume I pay more than I could with another processor— but I am reluctant to change because it’s inconvenient. Lol. 
I’ve contacted square a couple times with zero response.  Guess my business isn’t that valuable—

[Jjpainting]

That’s so odd. You elected to take less than the offer and they still turned you down. Messed up. May I ask what your credit processing volume was the previous 12 months prior to that offer?  I’m on my fourth loan, and since I’ve only been with square for a year and a half, with my first loan being 3-4 months of using them, then my second two months after that and so on, it’s hard to base what I think my next offer will be. My loans were $2750, $7550, $8500 and my current one is $14500.  And only that last one, was it where I had a full year with square. 

[Twpchair]

I've seen it before. I don't know if it triggers something in the algorithm and then someone has to pull it? There's a couple on here now approved accepted and then denied. Last they post they were still waiting on an answer or new offer. 

[Twpchair]

I've seen before and I'm not sure if they ever got a real answer as to why? The couple I have seen on here I don't believe that they have received a new offer yet either? They are on regular so I'm sure they will see this! Good luck to you! 

[SageIntentions]

Im at 73% on my most recent loan it is my third one. Not only do I not have an offer for a new one like I usually do, I am not even able to view the eligibility factors screen anymore. I have always had green on every factor on all three of my loans. I love square loans but the lack of transparency in what qualifies you is nerve-wracking. Right now I wonder if the algorithm knows something about my business failing that I dont.

[DD_2019]

My eligibility factors screen went away on Sunday with the daily update, but came back when it updated again on Monday. The screen that is just white and says ineligible for the loans program was there instead of the eligibility requirements. It changed back on Monday like it never happened & everything is still the same.

[SageIntentions]

I really appreciate this response. Wondering what the algorithm knows that I don't is stressing me out. But maybe its just a temporary thing as you experienced. 

[DD_2019]

I really don’t know why it did that but I for sure panicked too. I’m at 85% paid back and have never gone past 75% repaid before receiving a new offer so I worry about it too.

[MelissaBlast]

I appreciate this response - I just got the white screen myself and was looking forward to eligibility so it had me worried, I have been checking my factors since hitting 70%

[Tiffanygalchutt]

Anyone get one yet? Im at 92, I wonder if it’s the debt ceiling/bank crisis 

[tcdstores]

Mine came through Friday and funded today. 40%-50% lower than my loans last year. I was 80% paid off. This will be loan 14 I believe. 

[ib_cleaning]

Congratulations! I’m still waiting so hopefully I get something soon! With the inflation I need supplies ASAP! I’m at 80% and has been in all green for awhile so my fingers are crossed I receive a loan VERY soon! I’m normally offered a loan at 60 to 70% and if they send me an offer soon this will be my 4th loan! 

[CTC18]

What were last few previous loan amounts and then this one if you don’t mind me asking? Did your sales stay the same?

[Twpchair]

If you scroll down it doesn't look good only 1/2 people have received then most are waiting. 

[Otlf2018]

Wow! Im almost paid on a loan that’s over $100k. On the bright side I will have my full payments available and no payback fees to worry about. IF a new loan is not extended. I’m starting to lose hope with everyone’s posts. 

[GlitzyCow]

What is your annual revenue for 100k loan??? I process around 60k a month and haven’t gotten over a 12k offer. I’m on my 11th ish loan and I’m already almost 50% paid back on my current taken three weeks ago. 

[Otlf2018]

I think last year we processed over 1.2.

[ianssoph]

It seems like they’re not doing earlier loan offers anymore, statistically I am seeing more and more not being offered even when their loan is 100% paid back. Granted, we don’t know all of their business flows, but I am on my 15th loan at $40k and have been with them for 8 years I’m 68% paid back and sales are up 45% from last year. I will update if I receive an offer.

[Otlf2018]

I remember last year seeing the savings account option pop up. Maybe that was designed to prep us for this. Who knows at this point. 

[Healthyketo]

Any update? Anyone gotten an offer yet? Currently sitting at 93% already I’ll be just about paid off by Sunday. 

[MillieC]

Now at 94 and no offer, we’ve made the decision to go elsewhere after it’s paid in full if we’re able to remain open.