Is anyone still recieving loan offers?

[Prov]

Is anyone still recieving loan offers ? and at what percentage was your previous loan paid off? i’m currently at 70% paid off and usually see a new offer by now .

[HC_Charlie · Accepted solution]

Hello @Prov thanks for your post. I know it's frustrating waiting for a loan offer, especially when you've been extended a Square loan in the past. There isn't a guarantee that you'll receive additional future offers, there are a lot of factors in play. Check out this article for some more info about loans. Eligibility may be different for every seller, and accounts are reviewed regularly. You don't need to contact anyone, just keep an eye in your dashboard if a loan offers becomes available.

I do know that loan offers are still available and are being offered, the only advice I can give is to remain patient. I hope you'll be able to receive an offer soon and wish you all the best in the new year. As a fellow business owner, I know how much new capital can help a business and I've also taken advantage of Square Loans in the past.

Good luck and happy new year! Thanks being a part of the Square Seller Community!

[Jjbeautyco]

Ugh yes that’s the worst.  Mine was only $1000 above my last offer and my sales have doubled 🤦🏽‍♀️   Very frustrating for sure 

[TrendzbyM]

I’m at 74 % and haven’t had a loan offer yet, but all my processing is good and just hopeful for a bigger offer than usual soon! Square is great and worth the wait ! 

[Tritter82]

I'm curious how long will an offer stay on your dashboard once offered? Or are there certain days they are offered. I feel kind of silly checking everyday to see if I have an offer but don't want to miss it if I don't check. I've never had an email when I was offered a loan so I'm curious about this. Thanks 

[Nancy__]

Hey @Tritter82 ,

Thanks for reaching out!

Offers through Square Financial Services are only available for a limited time. We are constantly evaluating your account (even if you have an active offer). You’ll continue to see an offer for as long as you are eligible. Offers are based on a variety of factors, including recent Square processing volume, payment frequency, outstanding balance, and account activity.

If you are not receiving email notifications, check your notification settings on the Square Dashboard to make sure you have selected to receive these notifications.

If you have not received a confirmation email, and your email notification settings are properly selected, check your spam folder or other email filters and add [email protected] to your list of contacts.

Hope this helps!

[Tritter82]

Thanks so much for your reply. My only other question would be is the offer usually there several days? "As long as you're eligible" is a bit vague.

Thanks again for a prompt reply. Much appreciated 

[Jjbeautyco]

I’m at 50% waiting for my next offer 🙏🏽🙏🏽🙏🏽.  Does anyone know if loan offers come on certain days?? 

[Shanestowing]

I’m at 74% and got 3 previous loans at 70. Last time the new loan only increased about 20% over previous one but fee more than doubled. 

[Shanestowing]

Not to sound ungrateful but the maybe you will maybe you won’t get another loan is frustrating. Last two came on the day I hit 70% now I’m at 75% and waiting. Only answers we get are well maybe you will maybe you won’t. Hard to plan this way. I will stay loyal as long as I can but there are way cheaper processing options available. 

[pamperbeauty212]

72% on 4th loan. Patiently waiting. Square is definitely the best overall POS and the customer support is by far the greatest. I was able to get new loan offers around 70-80% so hoping it happens again. I need a loan for inventory, our business is growing because of square but now it can’t get inventory back on shelves fast enough. 

We get a combination of cash and card sales, but i’m thinking about switching to a cashless business model and accept cards only which will increase processing. 

[Sammie_C]

Hi @pamperbeauty212!

Thanks so much for posting!

New offers are not automatically extended when a certain percentage of an existing loan is repaid.

Accounts are automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers.

We recently added a new eligibility page that you can navigate to by going to the Loans tab on your Square Dashboard.

For any other loan questions, you can reach out directly. Our Customer Support number is 855-897-1838. 

Have a great day!

[Affordable]

Did you get a offer yet? I'm 100% paid off for around 2 weeks now with no new offer. All my statts are in good on my profile. I'm wondering if they are offering any loans still in 2023?

[Twpchair]

I received 2 in 2022 both around 76-78% paid off. I'm oround 56% on this now. 

[Twpchair]

Please let me know how that works out for you if you don't mind going cashless?

[Jalisco20]

Im also at 78% and haven't gotten another offer. 

Im hoping to get an offer soon🤞

[Affordable]

Did you get a offer yet? I'm 100% paid off for around 2 weeks now with no new offer. All my statts are in good on my profile

[Sammie_C]

Hi @Affordable 

Thanks so much for posting!

We can’t guarantee a loan offer even if the key factors displayed on the eligibility page show all “Good.” 

There are many factors that affect loan eligibility, but the factors listed on the eligibility page are key factors we consider to help you understand our process. There’s no additional information we can share at this time, and we can’t go into further specifics about program requirements because the criteria we use is proprietary.

We will continue to review your account daily for loan eligibility. If you become eligible, you’ll be notified directly on your Square Dashboard and through email.

Let us know if you have any other questions!

[Twpchair]

Did you get your new offer? Just curious as many seem to right around your percentage and I've been helping or offering advice to others close to your percentage. Thank you! Tammi

[KGD1]

I just hit my 6 month mark with square. In this time we have done almost 140k in sales. I was hoping to see an offer by now so just curious about the frequency of updates as well. The only factor still showing “needs work” is my history with square, all other boxes are good to go in their checklist. 

[_Violet · Accepted solution]

Hi @KGD1  - Thanks for reaching out to us here on the Square Seller Community. 

As @Minion mentioned, we're not able to provide account-specific information about Square Loans here in the Community but I can certainly provide some general information that I grabbed from this Support Article: 

"Square accounts—including accounts with an active loan—are reviewed for eligibility regularly. You don’t need to contact us or provide any additional information to become eligible for another loan offer. You can check your Square Dashboard (at any time for more information about your current eligibility status.

Offers are not guaranteed and we are unable to predict when your business may receive another offer. Loan offer details, as well as the timing of eligibility, may differ from your current Square loan."

I hope this information is helpful but please do let me know if you have any additional questions.

[Twpchair]

Hello, have you received your increase yet? I see the post is full of people waiting?

[Jjbeautyco]

unfortunately not yet. I did notice looking back on past offers that they were sent on Mondays and Saturdays. Idk if that means anything or if it’s just coincidence.   By the looks of how many people are waiting I think they may need a new way to go about this loan offering.  😕