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]

Yes. Most of my old offers actually came on weekends. You will probably have to provide some documentation though if it hasn’t approved yet. 

[BC500CG]

Thankfully paid at 100% in July. Been with square since 2013. Always received at least 2 loans annually with sales in the upper six figures. I am very appreciative of what square has provided for my business. The support is unmatched and the capital was an unexpected benefit. I wish everyone much success. 

[HealthySF9]

I 100% agree with this even though I get anxious sometimes during the Loan Approval / Offer process. The growth and survival of our business is due to Square Capital's help through out the years. We made it through some of the toughest times and grown so much because of Square Capital.     For people waiting and hurting, keep doing good business, the help will come at the right time...hopefully. 

We been waiting for a new offer and it came at the right time again, we are just waiting for approval now. 

[CTC18]

 

Do you have your bank account linked where it asks in the loan eligibility? I’m debating if I should or not.

[elissa198]

I just had this in my dashboard today. And I have also been waiting for a new offer. I feel like I’ve been waiting a lot longer this loan. Has anyone had this “link your bank” and then have a loan pop up? Just curious if they are actually giving loans with the economy. My little business can use one right now for some new inventory and equipment upgrades. 

[HealthySF9]

Update : 

After submitting more requested info and they asked for an explanation for the disputes on my account, after I submitted my answer the loan was approved !!   Just waiting for funds now.   

Square Capital is the best ! 

Good luck to those waiting, it will come. Just keep doing good business and grow. 

[Jjbeautyco]

Thank you soo much for the updates!!! This gives me hope 🙌🏽🙌🏽🙌🏽🙌🏽

[Gavindwyer]

I don’t know about the best

[Gavindwyer]

suspicious 

[sbukovsky]

That is wonderful that the offers are still going out. I just wish that they were a little more transparent about the algorithm they use so we know where we stand.

Our business has not changed since we’ve had square. In fact, it’s continue to grow, we have no chargebacks, we have no customer complaints. We have absolutely nothing but growth in our business for the last 10 years. We’ve had a few slow months for sales as of late but that is everyone across-the-board right now. Oddly According to recent Square reporting our sales are actually up this month so I’m hoping it comes through soon. 

I guess after years of square running their capital system the same way you get used to it and then when something changes on their end regarding eligibility requirements it makes it hard to figure out what their next qualifications are. I’ve never been asked for any more information, but a friend of mine was recently asked to link her bank account, which was ironic because she banks with Square and only Square, so why would she need to link another bank account in order for her to qualify for a Sq. loan? If all they look at is your credit card processing transactions, business growth, and repayment and chargebacks as they say they do and nothing else they should have all that information right there in house and shouldn’t require looking at your bank statements because all of your transactions traditionally go through them they have records of every cash transaction we’ve ever made credit card or check Afterpay or other.  
her account is only three years old and she had that question while our account being much older and more established has never had that question so it’s odd that that appeared to her

I just think that potentially something has changed on their end with how they offer the loans. I’m sure plenty of people have defaulted as businesses have closed because of the down economy. But it would be helpful if there was communication from Square to us about any changes that might happen regarding the square capital loan, or loan offers or again if they would make it a little more transparent, it’s hard to take in when they say you’re not eligible right now when every single factor they say they use to determine your eligibility is completely in the green 

[brown17]

The linked bank account is new. I called on it myself to make sure it wasn't a factor.  It is not it is for people who use both square and other business account to open up more offers.   It does not affect your eligibility.   

[CTC18]

 

If it doesn’t affect eligibility, why does it say it does?

[Hotbear1]

I can really understand where you are coming from we are all green at 91% paid and no offer either we have been a great customer to square with over $100,000 in sales I just don’t understand the system and this is our 6th loans all paid off early 

[Chelseahitt1]

Today when I checked my eligibility factors page there was a pop up at the top telling me to link my bank account, and this could increase my eligibility for a future loan. Has this happened to anyone else? I’m starting to think this is why the factors page did not update yesterday between 1-3 as it usually does. 

[Jjbeautyco]

Yes. I just did mine 

[RP2011]

For some reason I don’t see the factors page.

[brown17]

I've had that there for over a week now and just didn't update since 14th. It has nothing to do with your eligibility .  I called it's a new program to offer more based on what your banking statements say.  All my banking is done with square so it doesn't affect ne

[Bagofjerks]

Sitting and waiting.  Like watching paint dry.  

I'm on my second loan and at 77% first loan offer came in when I was at 73% paid off.

We're small fries compared to most businesses I'm reading about.

First offer was given than declined? Second offer (which will be called first since it funded) was 2300.00  next offer was up a bit, now I'm sitting on my hands praying for another offer to get inventory.

All metrics GREEN, never missed a payment, always paid ahead of time.  At this rate I should be 💯 paid by end of month.

Come on SQUARE, love me long time and give me a loan...

[lisap1970]

I am right there with you . I have a small business and don’t have near the processing as some do. Always had a loan offer between 65-75%. Sitting at 81% and not a peep. I have been with Square since 2014 had about 2 loans a year always paid off and paid ahead . I need inventory for the holiday season also and I think I check the dashboard every 30 minutes. I wish they would check some of the comments and at least look into why some are not getting them . I’ve called and called and get the same response. 

[Bagofjerks]

I'm worried that when I uploaded my banking info someone or something alerted a delay.

I love Square and the ease it offers but like so many business today removing the humanity and hospitality of notification and being reachable doesn't sit very well with me.

I need funding and this is why I've remained loyal seeing when I was in need the most Square stepped up.  

As small as my loans have been I've been able to make it work and always paid down amounts due through transactions made to my account through sales.

I often tell the customer to pay via card vs cash so I can see my percentage paid rise and know a loan will be coming when I trigger the algorithm.

[Koleen1234]

You are exactly where I am at. Patiently waiting