Hello, yes they are. It has been a roller coaster honestly. The majority of people are in the upper 80s-90% paid off. Next is completely paid off and last is a few that pop in around 70% those seem to be ones where all metrics aren't just good but great. Sales are up, processing, and volume of sales are really up. Paying the loan off quickly with just sales in half the time. It is hard to judge right now without going into a lot of details. All my metrics are good but I am averaging around 67% higher this year vs last year. With no guarantee of whether or when you might receive one, it's up to the old’ algorithm to pick you up. The increase in the above-mentioned does help to pick off something. Regardless of all of it Square still always takes into account your years with Square, prior history with loans not all is 100% metrics. Those are great tools for us to use as well. I wish I could tell you the good old days of 70-75% and almost always a guaranteed offer would come rolling in but it's not like that anymore. There are a couple of other groups' loans in 2025 and I believe the other is loan offers in 2025. They have the most activity on them. Good luck and hopefully soon! What % are you at now? Have you been with Square for a while now? Last, how is business going? If you don't mind it helps to guesstimate a bit better.
Hopefully you received one or tearing up some sales. It is a factor but it isn’t a deal breaker. They take into consideration your overall sales and your previous history with Square and prior loans as well. So don’t stress over a bad month regarding loans. I know it hurts in general especially our bank account but it happens. We all have been down that road it’s just pushing through it and getting back to business. Good luck to you and I will be watching for your post! @Minion is a great help and will always lead you to the right threads for you to be on. Good luck to you.
I agree 100%! I love Square and use so many of their tools and apps. I also have their Square savings and do accept offers. I also have been with my local Credit Union since day one. I have a great relationship with them as well and wouldn't change a thing. Good luck with your bank and I hope everything goes fast and smooth for you! I'm not one to put all my eggs into one basket either. That and I think it's good to have a local bank that you can work with as well.
I missed this one sorry. Square does have a new payment method which might be a question for one of the Mods. I know that it isn't available to everyone just yet but it is a monthly payment vs per daily swipes. Usually, when they roll out something new it's a smaller test group and if all is good and running smoothly then it slowly gets released. I don't know what or if there are any stipulations or not but I can go and see what's up with it. Just wanted to let you know and I apologize for missing this question. Good luck and hopefully you have received an offer or it went great with the bank.
I have had a line of credit (LOC) with my local credit union since around 2019. I understand that you have to do what is best for your business. While Square loans can be beneficial for users, the downside is that they may not provide support when you actually need it. Personally, I have always preferred having a line of credit rather than a loan. A few years ago, there were rumors about potential changes, but they did not happen as anticipated. I truly wish you the best and hope you decide to stick around. Good luck with everything!
