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. 

[Hotbear1]

I feel your pain our dashboard is all green sales are up no charge backs ever no disputes all positive feed back all loans paid back way ahead of schedule as of date sales are over $100,000 I think we all got depended on square for the loan program and I think they have put the core customers on hold for a minute to recruit new and young business 

[ianssoph]

I’ve been with square since 2014 and they renewed my loan at 76% repaid.

[brown17]

Ive been with square since 2018.  I got a new loan in June. (i have had many)  My sales are up 134%, customer mix, etc etc.   Im only at 38% paid off.   All the requirements have to line up in order to get an offer.   I dont think they are only giving to new and younger businesses.   No doubt it is frustrating (we need it too due to some unexpected expenses)  with out the traditional clarity but they do loan a lot out and have continued to do so.   

[MrRoadside82]

I can't even see my metrics currently 77% paid off

[Twpchair]

https://squareup.com/dashboard/capital try this link. Sometimes I have to clear out my browser and it kicks in. If not it might be just a clitch error and it usually clears up soon on Squares end. If the link doesn't highlight just scroll down as an admin posted it and it's highlighted. Good luck and here's to a great New Year! 

[MrRoadside82]

[Twpchair]

Hmm, it took me a second to respond as I went to check mine out and I'll my eligible factors are there, my current loan and everything is showing up. You're wording in the screenshot isn't worded like mine though? I've had issues in the past were it went in and out but later that night or the next day was all back to normal. I guess I'm not sure why it says your business isn't eligible for the loan program? What type of business do you have?

[MrRoadside82]

Roadside assistance. It has said this for about a month now. This is my 4th loan

[Twpchair]

Hmm, I know others have stated their wording had changed from like mine it says you're business isn't eligible right now and click on the link for eligibility factors. I've never had you're type of business isn't eligible for the square loan program type thing. I would have to scroll down and see if they ever received another loan later on. Or if later on the wording has changed back to like mine. If your in the same business and received prior loans and now that pops up I would want to know as well! I don't know if they have changed any eligibility factors for any type of businesses that aren't already listed but those businesses usually aren't allowed to use square from the beginning 🤔 It might be worth a call and see what or why you're page is stating that. It could be glitch and they need to correct it on their end and get you back into the eligibility process for a loan?? I'm just guessing and going off of others that had that same message and no new offers and I remember 1 that was 6mths paid off and nothing. They had a mobile coffee business if I remember correctly. They had a few big glitches it seemed like july/August time frame. It's hard to keep track. People post about future loans and metrics but once they get a loan offer they don't respond back until the next loan type thing. I'll scroll down and see if I can find them and what they did. 

[MrRoadside82]

83% still says same thing 

[Crosstimberkoi]

I'm getting the same.  Can you still not see it?

[MrRoadside82]

Yes at 86%

[GlitzyCow]

Today marks five months since fully repaying my last capital loan. I decided to call with hopes of some kind of help. Nope. Same scripted response. I asked the rep to help me understand since she talks to businesses all day long about capital and she said she couldn’t answer any of my questions regarding what she sees is trending. the seller forum has helped me ease some anxiety knowing others are going through similar issues. I think I may be the only one that has been paid off for five months with no new offer in sight. I asked about the glitches that may kick me out of eligibility and she said nothing on my account would kick me out of eligibility. I’m so confused. 

I thought perhaps since I got two capital loans last year maybe that was max for availability and I would wait til after the 1st in hopes i would get an offer. I think at this point I’m just grasping for any explanation and square has no intentions of offering capital again to me. 

Square- I hate change but I am looking at other processors. Your reps have repeatedly told me that if I have to leave square that is my decision and that I have to do what is best for my business. My question is, wouldn’t square want to continue making money off of me? Are you telling me my business is not right for you? What exactly does that mean? Hopefully you will please reconsider. 

[ianssoph]

@GlitzyCow i cannot believe you haven’t received an offer!

[GlitzyCow]

I can’t either. I’m very upset about it. 

[Rez24]

I received one shortly after i posted that

[ftblmeme]

Are your eligibility factors all green? Do you turn over a lot?

[GlitzyCow]

Yes. I would not be here complaining if they weren’t. I finished the year just over 500k. About 40k a month average. 

[ftblmeme]

You’ll probably get a fat offer before spring. I think people are expecting too much at 60-80% and it’s stupid to feel entitled to a loan that quickly when you’ve been waiting way longer.

[GlitzyCow]

Unfortunately I need it now. I can’t stomach giving square more money when they don’t even have customer service people that can speak like humans and help their vendors. I’ve been very patient. I know loans aren’t guaranteed, but why even give eligibility if none of the eligibility has mattered for literal months. 

[Blandkite]

I feel your pain