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. 

[bsa77]

I have been playing this roller coaster for way to long with square. Totally get there are no promises but to me that is unacceptable and not a way to do business to loyal customers. I am on may way out with square. I seem to continue the game with them because of the loan approval benefits. Once this loan is paid I will be taking my full processing elsewhere as that is the only benefit, I see as opposed to other processors. In the day of digital banking there are many processing companies available that actually fight for your business and not give you the "Loans are not a guarantee" Most banks are personal and look at your sales etc. What is that???? You never know where you stand! This is the first time in 4 years I have not been given a loan in December when I have never had a single chargeback, return, refund pay early and crazy high sales! You can do better Square, and everyone there are other options out there. 

[Simplicity1]

still nothing for us... 100% paid in 6 months 17k.... we have been all green until this week where a customer opened a dispute ( clearly looking for extra xmas $$), our business is tough because its all custom and any of our disputes usually happen 3-4 months after they paid which is soooooo annoying and we are clear with our contracts and invoices on approvals and proofs... 

We have been with square for close to 10 years.... we recently started getting the loans about 2/3 years ago... they started small and we always got another one... this time nothing... we are down in total sales for year about 15% but a major client went out of business and that is the direct reflection, monthly sales all average and climbing, everything is green.

The loans are what normally kept me here, I was always ok with the higher procesing rate, the terrible dispute processs, etc... it made it easier for us to have working capital with square but they have made it impossible to gauge or estimage with the loan situation.

They are very clear its not guaranteed and I am assuming that with all the larger companies getting them and a few of our factors to take into account we will not get one before xmas or the new year which sucks!! I loved handing out a little extra in everyones pay checks right before we close for a week and a half....  

such a bummer.... 

[bsa77]

So, I finally received an offer, lower than expected. Typically get an instant approval and funds available in the past but now asking for details and invoices for a transaction a month ago and my business relationship with that person. No dispute, good standing transaction, nothing out of the ordinary. Seems like a foot dragging tactic to me! . If I don't get the approval today it will definitely be the end of square for me. Getting more frustrated by the day to be honest . I have very high sales volume and would do more through square, but the unpredictability is not a business practice I would expect my customers to be pleased with and here I am accepting that from square??? . I will let you all know the result! Happy Holidays everyone!

[Nml28]

Im at 63% I guess im not getting any loan but i need it because its christmas its my best month. I want to move to Shopify probably. I use shopify for online. Increased in sq processing this yr but i guess they dont care

[Nml28]

TBH, Only using sq because of the loan offers. 
Website ❌

Email marketing ❌

fees ❌

So i guess i will be moving all my transaction to shopify 

[Treecie]

Just to give a bit of good news!! I received offer at 78% on Saturday around 2:45 pm I accepted offer. Was approved by 2:54 pm! Money was in my account Monday morning. It was my highest offer. I never attached my bank account. It was my 12th loan. It couldn't have come at a better time! 18.25 % of sales for repayment. Merry Christmas Everyone 

[Blandkite]

We now have a little over a week left in the year and I can’t believe I haven’t received an offer none this year, my last offer was May of 2022, I may just give up! 

[ApexSupply]

I am now at 83% and also have not received an offer. Normally I would have by now and it is frustrating because its a product that Square sells us and that we pay for and even for those of us who have successfully paid off several its not something that can be depended on. The amount of replies to this thread show that its an issue for a lot of Square customers. Im researching some other options in case I don't see something in the next couple of days.

[Mkennedy25]

Still no offer, very disappointing. May just pay off the rest and be done with Square.

[bsa77]

I get it! Once my loan is paid off, I am definitely parting ways if not approved today! I am on a loan approval now for 2 days! What's worse is a few days to capitalize during the Xmas rush. If I didn't receive the offer to apply, I at least would be able to plan accordingly but now anxious waiting for the approve knowing there is an opportunity lingering. Not a great feeling 4 days before Xmas! Over the roller coaster Square!!

[bsa77]

Ok! Trying to keep everyone updated! I received an offer to apply 2 days ago. Normally when I apply within minutes it is in the square balance. The next day I received a strange request for information on a transaction in November which is a good standing transaction and was asked for an invoice and my relationship with the customer. I of course don't mind answering that to the best of my ability with a customer I do not know personally. However, I thought it was odd. I submitted the information they requested and still have not heard back. We are 4 days before Xmas and not a good feeling. Nearly worse than not being offered anything at all because for 2 days I have been anxious knowing the window of opportunity to benefit from the Xmas demand is closing. I keep giving square chances when I feel that their canned responses and lack of customer service is outweighed by the benefit of capital loans. If I miss this opportunity it leaves zero reason to stick with square. I will pay the minimum payments through means of making the payment each month and no additional processing through them. I process average of $300k per year with credit cards only. Zero Charge backs in the years I have been with them not even a single refund or return! why am I accepting this lack of business appreciation and less than I would expect than I give my clients? I would be out of business if I did business in this manner! Today will be my deciding factor. 

[Blandkite]

Christmas pretty much here and still no loan offer.  I will be shopping around for a different pos company that actually help their customers. Sorry square but I’m not a happy customer, not one single loan offer in 2023! 

[Reneelizabeth]

Same here too.  My first was at 55%, my last was at 65% and I’m now at 67% 

[NRVGuru]

Reach 85% paid off after Christmas with some steady sales, usually see renewals at around 70-75%, but seeing nothing so far. Not a good thing to see going into new years.

[dinnerwithmaria]

I got one in July  Im 87% paid off and no new offer yet. In my history Im usually offered a new loan at around 90% paid. Hoping a new one comes soon as it would be a great way to head into the new year. 

[SPPhotography1]

I’m at a bit of a loss for what else I need to do to be offered a new Square Loan at this point. I’ve been with Square for over 10 years, had 7 loans now that I’ve have paid back early every single time. Metrics are all in green, record sales year. In 2023, record numbers across the board, no refunds, no complaints or issues of any kind in our entire history. Current loan is 80% paid off, but no new offer in site. This is the kind of stuff that causes businesses to find someone else to process through! Please help! I’m sure I’ll get the same old excuses that you guys send to everyone about looking at every aspect of the business. But there isn’t a single aspect that isn’t way up. I’m not sure if there is a new process they are using now, or if there is some kind of issue with my banking or something else I’m not thinking about or aware of. Any help would be much appreciated. Thanks, because I could really use some new capital to start the year off with and reinvest into my business!

[ftblmeme]

My last loan was fully repaid nearly 2 weeks ago. In total we have now had 5 loans, all paid before expected due dates. Another processor contacted me on 29th regarding onboarding and access to capital based on the business' lifetime processing history but I feel like Square is the best of the bunch, so I'd rather stay here. I will probably wait a little longer before switching elsewhere. Happy New Year!

[Rez24]

Very disheartening, im at 78% percent loan paid off total loan was 18,200 i have until October to pay off, usually i am offered a new one around 60-70% but nothing yet, this is my 5th loan with them. This loan will be paid off very soon. Sales are up since last year by 30% and still nothing back yet. With as much money they make from me with there fee’s you’d think they’d value there clients, but i might make the switch to clover i’ve been hearing good things.

[Blandkite]

It seems as though every time I come on here to make a post, my status then changes to “needs work” like its being done on purpose, I’m over it..last loan paid off in September and yet still no other loans been offered! 

[RedEyeBar]

Everyone getting all

worked up. Yes I have my 3rd loan through square. 68% paid off and I need it now pretty bad through the holiday season as I helped my family a little more than I should have through my buisness. But hey. It’s not guaranteed. I’ve never had any of my eligibility factors below “good” other than loan repayment which is always obviously “in progress”. Just gotta keep grinding and hopefully we will get one before I have to pay taxes 😅😅 little joke. But yeah. Just keep grinding or find a better alternative. I think this loan System is amazing and easy. I think it could easily get out of hand for square just Constantly handing out loans. Yes they take directly out of debit card transactions. But I’m sure they have lost money when doors close at buisnesses. Hopefully soon we I’ll all get loan offers and responsibly be able to handle and pay them back!

[Km914]

I am also sitting at 78% I’ve always gotten offers at about 60%. Need some new upgrades for my business hope I get an offer soon