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]

Not yet but praying. Every little bit helps us keep running. I’m almost paid as well. How long has your repayment taken? 

[Healthyketo]

It’s taken 5 months for a 38,000 loan. 

[Twpchair]

Scrolling down I saw 1 unless I missed any?

[PricklyElder]

I apprehensively connected my bank last week on the day that message showed up and still nothing. My loan has been paid off for a month now and eligibility factors are all Green and always have been. Except one time one of them was yellow for about a week very shortly after I started posting in the community - suspicious…

[brown17]

I just spoke with someone to get some clarity as 95% of my business in run through square checking.    Its to open up higher offers if you have additional cash flow from your business bank account.    For me, it wouldn't do any good as again most of my business is done through sqaure.    IT DOES NOT DETERMINE YOUR ELIGIBILITY

[jaykpizza]

Thank you! That’s very helpful. Kinda wish we didn’t have to resort to message boards to figure out what type of financial data we’re expected to disclose. 

[brown17]

I usually just call in...I've never had a bad expierence with anyone there.. yea sometimes it's not what I want to hear but for the most part...they twll you what they know lol

[CTC18]

Have you gotten anything since connecting your bank account? I’m not sure if I should or not.

[Veeivee]

I’m at 86% paid and on my 12th loan. I’m a hairstylist and square isn’t my only means of payments. I normally process about 30k-35k in card payments each year with the bulk of my revenue being cash. Anywho I normally get 2 loans a year. They’re always small. No more than 5k each time. I always reach my payments way in advance. I operate some weeks Monday-Saturday but most weeks Wednesday-Saturday. I have always received a loan when I reach between 70%-80% paid. Like many of you I have been waiting and I didn’t get the usual daily update. My last update was 8-14. Well I just got an update a few mins ago and it says that my card processing frequency needs work. My last card payments were Saturday. I took a short vacation and won’t be back in until Thursday evening. This has never happened to me before. I’ve always had all green. I process multiple card payments during the week so I don’t know how missing a few extra days would make a huge difference. It’s a bummer though. I always look forward to the loans to purchase products in bulk and pay for continuing education. It seems to always come right on time but not this time. I’ll see if it updates after I’ve worked for a few days. I love square but I wish there was some type of gauge to let us know when we were near the required amount to be considered for a loan.

[danengine2004]

Based upon my view I do NOT believe Square is lending any longer - Im at 94% have never gone past 86% - there are others who say they just got loans ... but why would they? - thinking Square is putting that information up - more people are struggling to get loans than people who SAY they are getting them - Im not counting on one any longer

[Tritter82]

Probably the reason it seems that way is because more people not getting loans are coming here, to post or find out info, than those the get/got loans

[Austlo]

This is exactly what happened to mine today, processing needs work. I didn’t take a payment over the past two days which has happened before and now I have the need work. 

[RP2011]

See. I don’t see this at all. You guys have factors and I don’t. When I click see the factors. Mine says that my “type” of business is ineligible. What does that mean? Who knows because my business was eligible for the past 2 loans and I don’t see why now it’s saying that.

[GlitzyCow]

Well I’m about as discouraged as ever. I have used square and been loyal to them for many years and I have my bank account verified etc for years in the settings. I got the “connect your account” thing today on the dashboard like many of you did and I WILL NOT do it. I’ve learned my lesson through my very first processor to not let anything have your account details and password. That is a no no and a hackers dream. especially since it seems to be through a different program.  All my factors are still good. I left a review on Trust Pilot and I’m about to go do another because they replied with a stupid generic answer… which I had to verify I was a square user through TP too.   I am so incredibly PO’d at this point. I’ve given square thousands of dollars, tens of thousands probably. By end of year I’ll be around 500k+ processing and they can’t give me an offer after my loyalty to them. I paid off the last one in 5 weeks. I got it June 14th this year. No offer in site and now they want my bank account connected through capital too?? No thank you. 

[Jjbeautyco]

Yeah definitely feeling the frustration as well !! 

[danengine2004]

I'm totally convinced there is no longer a square loan program - ALOT - of the posters who "say" they received loans are posting as such a few days apart on other questions asking about loans - I'm at 97% now - nothing changing - I have NEVER had to wait this long - and have seen many people close to 100% or at 100% who say they are still waiting - then when someone "says" they got a loan - if you look at their profile they said they received one now AND also said they got loans two weeks or more ago - I found 4 that way. Square is not being honest about this - I have 8500 to pay as soon as its paid - I'm gone - its sad my processing fees are about $67,000.00 per year - that is enough to pay two jobs at Square - and they are willing to risk it. When we reached the $2m mark this year we were given a concierge who says he cannot do anything about it at all, but he is toeing the company mark and is saying just keep processing and MAYbe you will get another loan offer - again plain and simple there are NO more Square loans

[ianssoph]

@danengine2004 so the loan I received on august 6th, and the 3 other girls in my salon who received offers within this month aren’t real? I’m sorry that you have not received an offer yet, but to throw out a conspiracy theory and make others lose hope is ridiculous. They are offering loans, daily. Square is very transparent that loans are NOT guaranteed. And if your business is processing so much volume I would hope you’re not dependent on the loan program. Best of luck to you! I’m sure you will get an offer soon.

[Robgrey]

Absolutely not true about them not offering more loans.  I received an offer this past Saturday. I think you should stop posting false information on here that discourages other businesses. Just keep and processing and maybe an offer will come. Sometimes the less said is the best said.  Good luck to you! 

[Maybelline03]

Hello all. I did finally receive a loan. For my experience, it was offered after my loan was 100% paid off and I had a few larger transactions. In the past, I received an offer at 70%-90% paid off. This was not the pattern this time. My new loan offer came within 2 weeks of 100% paying off my latest loan. I have had 5 loans with Square, all paid off ahead of schedule. So, loans are being offered, however, for me it was longer this time around. I just needed to be patient. Best of luck and hope that all of those waiting get one soon! 

[Dtb125]

Thank you! Glad to hear that it’s at least possible to still get a loan. That being said I’m still going to check into Stripe for my card processing unless a new Square loan comes through soon. Blessings!

[lisap1970]

Was the loan higher or lower than you expected?