There's 3 in row doing large amounts of processing 4 including myself, I guess when I think of "small businesses" I think of the jewelry maker selling on Etsy or a start up new business. There was a business owner on here (I believe they moved on) but they had a good point they were selling high volume and paid off loans in 6 weeks to 3mths at that rate it's like one of those payday loans 😳 it's very obvious that something has changed and unfortunately we will never know. I do wish you the best of luck and hopefully something will break soon for those processing more.
Well Q4 2023 is in the books and Square loans again was a huge part of Square's growth and key product offerings.
in Q4 "Square Loans facilitated approximately 137,000 loans totaling $1.40 billion in originations, up 22% year over
year." That's just in 90 days, so that is 1,500+ loans a day and an average of a little over $10,000 each. It is actually really crazy if you think about it compared to an old bank model of a person looking at your paperwork for an hour or more.
in all of 2023 "Square Loans facilitated approximately 489,000 loans totaling $4.78 billion in originations, up 18% year over year."
So yes it might seem you aren't getting an offer, but over 10,000 users are getting them each week. When there are millions of users it can't be that every single user gets offered a loan.
I'm about ready to pull my hair out! From being a bot to reporting false loans. SMH. They need to clean up the thread! Since 2014 has changed happen 💯 but not every one on hers is fake or making up numbers! I've been with square since 2014 you can Facebook or Google my page smh. I'm tired of trying to be encouraging to others and keep them posted on every one's update. We are all different from one business to another. We won't and can't change that period. I appreciate your work!
Hello, I just received my offer 86% paid off. Previous was 91% it was double of my last loan. I did not connect my bank. I received the typical 1-3 business day statement. I'm on here daily or multiple times a week and I'm not a bot, I don't work for square. I have been with square since 2014 I believe in November that year. I've had multiple loans (without looking 12-14ish)? My range use to be roughly 68/75% paid off last loan was 91% my highest percentage. This week was extremely busy and more cards vs cash. I believe in one week roughly 10% off my balance or percentage. Higher amount and lower percentage as well. 14%ish. I'll keep you posted when approved and deposited. I'm not expecting anything until Monday when I receive a late Saturday offer. Good luck to everyone and I always stay here and keep people posted!
My last one about 3 weeks ago was a tad higher than my last one. The one in June was a shocker about 1/3 less as well. The economy isn't stable, the market is hit and miss. I just saw last week they weren't going to raise interest rates. Hopefully, things will calm down and stable out. Lenders are really holding back in many areas. I know I see people come on here and claim this company or that processing company told me they would give me 100k day 1. SMH well, go look at their comments and they are saying the same thing! And it states in their policies 6 mths of constant processing before you are considered. Some businesses are way up others about the same as last year type thing but if you look around at the big picture were not very stable for an economy right now on the whole. Good luck to you!
