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. 

[royalphotos]

Who are you looking at going to, if you don’t mind sharing? I am starting to look elsewhere 

[TaylorA92]

Looks like a huge day for offers today. Just got my biggest loan offer yet. This is loan 5. Payback rate/interest was comparable to others. We had just hit 80% paid. 

[lisap1970]

Do you have your bank account linked ?

[TaylorA92]

No bank account linked. Sales are up 40% on the year but July and August were our worst two months (slow season) but picked back up to normal volume the last 2! We process 200k. Loan was for 36k. Last loan was 20k.

[lisap1970]

That’s awesome. My slow months were August and September but we have picked up now. I don’t do nearly that much in sales but I am up 30% from last year . 

[Treecie]

Did you link you bank account?

[eatMoroccan3119]

congrats to everyone that got a new offer today ! 

Update us too once it's approved ! 

We are waiting for ours too. at 90% paid now ! 

Square capital is def a big part of our growth the past year. We doing 1mil + this fiscal year, largely thanks to the firepower square gives us !

[lisap1970]

Did u link your bank account? 

[eatMoroccan3119]

Our account is never linked. we have had 4-5 loans now. I think it helps to link if you have a healthy bank balance/activity. Loan amount and eligibilty will be better. 

[lisap1970]

I haven’t link my second business account and I’ve had square loans two a year since 2014 at 60-75%. But not a peep at 87%. It always helped me during the holidays for inventory. Maybe soon

[eatMoroccan3119]

Don';t worry , it will come very soon I think if you keep processing and making sales. 

[Obulldogs]

UPDATE: I'm at 85% still no offer.  I get small loans compared to some of the other posts on here and never take the full amount offered. I went ahead and paid off my minimum payment balance which wasn't due until mid-December anyways just to see if that does anything.  I'll update any changes.  Good luck everyone! 

[Twpchair]

Usually after you pay your loan off in full yourself and not by card processing it takes roughly 2 weeks before you are eligible to go back into reconsideration and then the algorithm kicks in again.  Good luck to you!

[Obulldogs]

I didn't pay it off I'm at 86%.  I just paid the minimum due in December off instead of waiting another week or so for it to process off. I always pay min due like 30 days ahead through my card processing.    

[Pecard81]

My minimum due is every 60 days, I usually have it paid off by day 21.    Yours is every what, I didn’t know it varied so much.   

[Obulldogs]

I meant 60.  Always paid at least a month early.  

[NRVGuru]

Now at 77% and counting... a Halloween/Christmas miracle would be nice to help us for the holidays

[featherbae]

Fingers crossed for us both!!🤞✨ 

[Pecard81]

Iam at 75% and playing the waiting game aswell! It’s terrible!

[Pecard81]

 

[R2RUT]

Did you receive an offer