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. 

[Gios1419]

Im at 100% days after being paid off and no offer yet. 

[Jpphoto]

Oh no! I don't want to hear that. Sorry. 

[pawsperrydise]

I am at 90% and have all the criteria in good standing including sales being up.  It really is unfortunate they have to be so incredibly random about this.  It is difficult to plan ahead.  I know like most, I use mine to bulk inventory over the holidays and now it is going to be too late order wise for us to get the wholesale deals and pre-orders.  

[lisap1970]

Don’t feel bad it’s the same for me. 

[HTB44]

We all absolutely feel bad.  We need answers and for them to not just tell us we are SOL, which is exactly what the customer service rep said on the phone to me.

[Oxbow]

so sorry! too much of this lately

[Burnt1]

Really sucks to read through all of this and seeing how many people are in desperate need of funding and no way to really know when it is coming. We are green in every category and have paid our loan long before any payment was close to being due. I called square the other day and asked if there was anyway to know if we might get something soon because we are trying to fulfill a huge order and could use some funding. The order is $80k and would really help us a ton financially to fulfill it and the guy just said there is no way to tell. I completely understand that he was doing nothing wrong but some insights would be nice so we could plan if there was an event like this. Not the end of the world. At this point, maybe it will be better for the business to not pay back so much daily if we do not get another offer. I wish all of you the best of luck and hope that the funding comes through for you when you need it if its a make or break position for you. 

[Solstice]

We are in the same boat… pay back percentage is to high and loan amount is to low… we think it may not be worth it to take another after this one is paid. Especially if we don’t get a new offer before it’s 100% paid off again. 

[Pecard81]

Only way I will consider is if I am still on the hook, if not I will take my 750 payment a day and go with that.   😜

[Burnt1]

$750 payment a day?!? 

[Pecard81]

My payment is at 18.9% and I sell about 115,000 a month…. So yea about 750 Dlls a day payment.   I am almost done and Iam very very happy it’s almost over!

[Twpchair]

Good luck to you! I understand the frustration and the not knowing. Thus is our busy time of the year as well! Good luck to you!

[SugarRushJax]

Received our third loan offer today at 82% paid on the second. What confuses me is that our sales are up 2.4x and now 7 days a week since we opened a location in a mall, yet our loan offer is the same as the last one. An offer for what amounts to 5-6 days of sales isn't really of any help. Is there any way to get the amount raised? 

[GlitzyCow]

Just be happy you got one. Some are receiving them at a fraction of previous with increased sales. I’m up at least 100% been paid for four months and nothing. Haven’t received a single offer since. 

[Pecard81]

Congrats on receiving a loan offer, the only way I have read is not accepting current loan offer and in approx 10 days you may receive a new offer but it is not guaranteed to happen.    So that being said good luck on making the correct decision 

[Pecard81]

Did your offer come in today on Sunday?

[SugarRushJax]

Yes, Sunday around 1pm est

[Twpchair]

No, there really isn't a way to ask for more. Your offer is your offer. Some have tried to not accept it and wait it out to see if they offered a larger loan later and it didn't work out so great. They either received a slightly smaller loan or still waiting on any offer. There is no guarantees when or if you will receive another loan. Good luck. 

[B-dot]

Square can take their loan eligibility criteria and shove it up their asses.  I'm definitely switching POS companies now.  I just got an update on my Square eligibility saying that my processing dollars went down, even though sales were up for the month.  The kicker.... I was closed Christmas Day!!!  

And the worst part, is I have a square card on top of this. Because I have a square card, Banks won't even look at me because there's not enough proof of processing going through to a bank account.

Thank you square for destroying a person's business.  Square can go to hell.

[ftblmeme]

When was your last loan?

[B-dot]

95% paid off with only 5 months into the 18 month term.  First loan was paid on two weeks, 2nd loan a month, 3rd and 4th loans in two months.  5th loan almost paid out.