Loan Account Activity “needs work” loan decline

[jessential]

I had a loan offer 3 months ago and was declined for my loan.  My loan activity has been at “needs work” since due to the declined loan. No disputes, etc. Does anybody know how long this takes to go back to “good” ? Or to receive and offer ? 

Everything else on my dashboard has been on green “good” on a consistent basis.  My current loan is 97 percent paid off, way ahead of schedule. 

I tried to contact the loans team but they don’t have an insight on this. They just say watch your dashboard and quickly end the conversation.

Some of my frustration lies that I still have not been given a true valid reason for my loan decline in the first place, and this “needs work” on my dashboard just sits there without option to dispute. I know seems a little unethical but I gave up on that months ago. 

I am not trying to pull anybody into my “rabbit hole” or make this post “moody” just want to get some insight on how long this “needs work” could be on my dashboard. 

[Abby_M · Accepted solution]

Hi @jessential 

Thanks for posting on the Seller Community.

We appreciate your interest in Square Loans. To help ensure you get an offer that’s just right for your business, Square Banking reviews accounts on an ongoing basis. There is no specific information we can share at this time because eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. Please note that being declined for a Square loan in the past may impact your eligibility. Keep in mind, loan offers are also based on a variety of other factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.We will continue to monitor your account and notify you if your business becomes eligible for a Square Loan offer.

Hope that helps, please feel free to reach out to us directly if you have any other questions

[jessential · Accepted solution]

I understand how the system works, what I don’t understand is the lack of communication on the part of the managers and underwriters when questioned. I have sent several emails and put in many hours of phone calls to just plain out be rejected for answers every time. 

I totally gave up on a straightforward answer on my loan decline, because after several weeks, I came to the conclusion SQUARE thinks I just don’t deserve it. 

I do have an issue, with the fact that my account activity on my dashboard has been effected by this more 4 months with no option to dispute it and no recourse. This activity is only because of the decline and still do not have a valid answer on why. 

I do have an issue with being told that they cannot escalate this anymore, when they still have not addressed the reason for my escalation. If my “frustration is understandable” don’t you think that SQUARE should help do something about that?

The customer service is very minimal and loan agents are rude. They have managers  that make major decisions have no phone support. They just send generic cut and paste emails, somewhat like the responses from the moderators. 

Just an example of good customer service…. I had an issue with my Apple phone . Send a chat to an Apple agent . They spent a few minutes trouble shooting. Connected me to have a manager call me back , because …. Get this … their managers do not chat or email only respond by phone . Within 2 minutes a manager called and arranged for a new phone. This all took less than a half hour. Now that is exceptional customer service! 
Square should be efficient . If they spent less time sending worthless emails and more time just addressing the issues they created they might get something accomplished. 

[jessential · Accepted solution]

Well apparently I am a huge risk …. Just paid off my last loan more than 5 months early without a late payment. Dashboard is all “good” except for my payment activity due to the decline m that I have no option to dispute or even inquire about. Four months and this still hangs on my dashboard. 
You’re correct very frustrating! 

 

[MayaP]

Hey @jessential, thanks for reaching out and sharing your experience. Your frustration is completely understandable. I’ve contacted the team to see if we can get more insight. Please note insight into the decision-making process is limited, but if I learn anything new, I’ll send you a direct message. Thanks for your patience and understanding!

[Abby_M · Accepted solution]

Hi @jessential 

Thanks for posting on the Seller Community.

We appreciate your interest in Square Loans. To help ensure you get an offer that’s just right for your business, Square Banking reviews accounts on an ongoing basis. There is no specific information we can share at this time because eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. Please note that being declined for a Square loan in the past may impact your eligibility. Keep in mind, loan offers are also based on a variety of other factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.We will continue to monitor your account and notify you if your business becomes eligible for a Square Loan offer.

Hope that helps, please feel free to reach out to us directly if you have any other questions

[jessential · Accepted solution]

I understand how the system works, what I don’t understand is the lack of communication on the part of the managers and underwriters when questioned. I have sent several emails and put in many hours of phone calls to just plain out be rejected for answers every time. 

I totally gave up on a straightforward answer on my loan decline, because after several weeks, I came to the conclusion SQUARE thinks I just don’t deserve it. 

I do have an issue, with the fact that my account activity on my dashboard has been effected by this more 4 months with no option to dispute it and no recourse. This activity is only because of the decline and still do not have a valid answer on why. 

I do have an issue with being told that they cannot escalate this anymore, when they still have not addressed the reason for my escalation. If my “frustration is understandable” don’t you think that SQUARE should help do something about that?

The customer service is very minimal and loan agents are rude. They have managers  that make major decisions have no phone support. They just send generic cut and paste emails, somewhat like the responses from the moderators. 

Just an example of good customer service…. I had an issue with my Apple phone . Send a chat to an Apple agent . They spent a few minutes trouble shooting. Connected me to have a manager call me back , because …. Get this … their managers do not chat or email only respond by phone . Within 2 minutes a manager called and arranged for a new phone. This all took less than a half hour. Now that is exceptional customer service! 
Square should be efficient . If they spent less time sending worthless emails and more time just addressing the issues they created they might get something accomplished. 

[jessential · Accepted solution]

Well apparently I am a huge risk …. Just paid off my last loan more than 5 months early without a late payment. Dashboard is all “good” except for my payment activity due to the decline m that I have no option to dispute or even inquire about. Four months and this still hangs on my dashboard. 
You’re correct very frustrating! 

 

[Salonprokanika]

I’m currently in the same boat. My last application was denied in May. I haven’t gotten an offer since and this “needs work” hasn’t fallen off in months.

[Twpchair]

What needed work?

[jessential]

For the denied loan … that they won’t take responsibility for . 

[jessential]

Unfortunately , Square has people planted here to divert the real issues. They also write posts to others suggesting they  back off and let the moderators handle it . Then delete if, fortunately I caught it in my email . But we don’t want to go down that rabbit hole , do we ? 

[Twpchair]

Hun, it's not all that you see on your end when it comes to helpers like me. We do not work for Square, and I tried for 2-3 weeks to help you both get this straightened out. We are here to answer basic questions and offer suggestions or help. Beyond that, once a mod steps in, that's what they are dealing with. Believe me, many of us tried, and the further it went, the more it just got too much for any of us here. Nobody, especially myself, meant to leave you. Now, this I can tell you. You have been through it all, hun, and nothing has changed. You, and only you, know what is best for your business. From everything I have read and seen firsthand, if you are denied, there is no time limit at all. It could be 6 months or 6 years. I am a creature of habit and hate change. Funding is essential for many businesses. This is just imo, but I would do some good research and look around at companies. Right now, I'm afraid you're beating a dead horse. But please don't think any of us have up on you, but we are only able to do so much and move on for the Mods to handle it. Take care, remember always do you and your business first. Nobody should judge making a change for the better. 

[Minion · Accepted solution]

---

@Salonprokanika wrote:

I’m currently in the same boat. My last application was denied in May. I haven’t gotten an offer since and this “needs work” hasn’t fallen off in months.

---

Did you  miss any payments on your last loan, or did it take you longer to pay back your previous loan that normal? 

Other options to look into would be either a personal or business LOC depending on your business structure.  While it may be more paperwork up front, a inquiry on your credit it could prove to be worth it knowing the funds are always there when needed,

[Twpchair]

What area needs works? Mine has dropped while taking a week off in the winter but as soon as I start processing daily it went right back up 3 days later. 

[Maryh12]

Did you ever get any updates? I’m in the same boat 

[Salonprokanika]

No. It’s been 5 months now so I’m leaving Square and going to Stripe because of it lol 

[jessential]

No updates , or concern for their lack of communication, responsibility, or neglect to keep your account secure . 

They answer to nobody 

[kacey_k]

I’m sure this has been answered but I can’t find it, but have you had any disputes at all? Chargebacks? 

[Salonprokanika]

None at all. Just  a declined loan application in May 2025. 

[jessential]

Chargebacks can’t always be avoided , customers can be difficult. You can challenge their dispute ( you won’t win) but if you do it still counts against you. Their system just straight up stinks. 

But answer …. No 30 years never had a charge back in my whole career . 

[LouLou1111]

I’m pretty frustrated I’ve had over $25,000 in square loans all paid. 
Have been at needs work for a year. 
Meanwhile they take $60 to process a **bleep** invoice. 
I'm pretty over it. 
I have asked and have gotten the same AI bs response about 5 times that was posted above. 
I find it all really annoying. 

[Salonprokanika]

Same. I’m going to Stripe 

[Creldredge]

Mine has been 3 months now "needs work" and of course no one can answer a question in the square loan department other than the standard generic email they send. It's absurd. I'm also going with stripe. Been working the last month to transfer over customers and invoices.