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! 

 

[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. 

[jessential]

Good luck if you get anywhere with them. Square is impossible to communicate with and in these chats they plant people that try to smooth  and steer  the conversation. 

They refuse to help and brush you off to another person that refuses to help. Useless ! 

[jessential]

I was denied for a loan twice , for another persons account status  no consideration my account is in good standing , increase in income and paid off on time . Zero consideration for that. ZERO!!!! 

Writing here just helps you vent, because I can assure you square doesn’t care one bit to read them or they would be ashamed . 

I spent weeks on the phone with loans, customer service and anybody would listen , just pushed around and borderline bullied . 

[Salonprokanika]

That’s exactly right. They won’t see it and don’t care. I’m taking my transactions and invoices to Stripe. 

[jessential]

I will need to look into this myself . After being denied a second time for my account being “ associated with” another account and no real reason for how. They refuse to help me figure it out. I start to question the security of any account with square. Customer Service says no such association. 

You ask over and over and they basically tell you it’s none of your business . I think it’s 100 percent my business and it should be illegal for them to withhold such information . 

I have been hung up on , denied escalation, the managers must be imaginary because they literally refuse to come to the phone . They send generic AI responses that don’t even reference your concerns. 

The worst customer service I have ever encountered in my life. 

This last time they requested a sales slip ( being punished for a big sale ) and denied me in 2 minutes for an associated account . Really ? Why did you even ask for the sales slips? But never ask me about the reason you denied me for? 

How do these people sleep at night. 

[kacey_k]

That situation would be unsettling for anyone. When explanations are vague or inconsistent, it naturally raises concerns. From what I’ve seen, “associations” can sometimes be triggered by automated risk systems, but clearer explanations and next steps would really help sellers understand and address it. I agree this is an area where more transparency would be beneficial.

[kacey_k]

I understand why you’d feel that way after repeated dead ends. Every business has to choose the tools that work best for them, especially when clarity and responsiveness matter. Hopefully Square can improve communication around these issues so sellers feel more confident in staying.

[kacey_k]

I’m really sorry you went through that — especially after doing everything right with repayment and increased volume. I hear how exhausting it is when the outcome doesn’t align with the effort you’ve put in. From what I’ve seen, many loan decisions are automated and unfortunately don’t always reflect individual repayment history as clearly as sellers expect. Better transparency around those decisions would go a long way.

[kacey_k]

I understand why it feels that way when answers are limited or repetitive. From what I’ve seen, many of these loan decisions are automated, which unfortunately means frontline support often doesn’t have deeper visibility to share. That said, clearer communication around criteria and timelines would really help reduce this frustration.

[kacey_k]

I hear how frustrating that is, especially when you’ve been sitting in “needs work” for months without clear explanations. A lot of sellers are experiencing delays or generic responses right now, which makes it hard to plan. Hopefully Square can provide more transparency around what specifically triggers changes or next steps so sellers can make informed decisions.

[kacey_k]

I understand why you’d feel that way. Every business has different needs, and it’s important to use the tools that work best for you. Hopefully Square can improve communication and consistency so sellers feel more confident staying on the platform.

[jessential]

Annoying and insensitive . They take your money and deny the customer service you pay for . 

[kacey_k]

I hear the frustration, and you’re not alone in feeling this way. A lot of sellers are experiencing changes in how support and offers are showing up right now, and the lack of clear explanations definitely adds to the stress. Hopefully Square can provide more transparency around what’s driving these decisions.

[kacey_k]

I don’t blame you for being frustrated. With that repayment history, being stuck in “needs work” and only getting canned responses would wear anyone down. The lack of transparency makes it really hard to plan or trust the process.

[Timtom03]

I had a loan offer declined in 2022 and it is still showing this on my dashboard and I still received a loan offer in march of this year and was approved and paid it off in October and it still says my previous loan was declined so I don’t think it will ever go away 

[kacey_k]

I’ve seen others mention the same thing — old declined offers seem to stay on the dashboard even after newer loans are approved and paid off. It doesn’t appear to block future offers, but it definitely adds to the confusion.

[Timtom03]

Yeah it definitely does add to the madness!!! I would have thought it would fall off and go back to normal after paying this record loan off!!! Don’t know when I’ll get another offer it’s so annoying 

[Salonprokanika]

So 3 years before a new offer? Wow 

[Timtom03]

Yeah 3 years  🤦 

[Abby_M]

Hi @Timtom03 

Sorry to hear about your situation.

Thanks for providing your feedback. I will share your concerns i will share it with the rest of the Square Financial Services team. Please know that we’re constantly working to improve our products and services based on the feedback we receive from customers.

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. Also recent disputes on your Square account may impact your eligibility regardless of the outcome of the dispute. 

Please contact us directly, our Square Loans line is open between 8am-5pm PT Monday-Friday if you want to give us a call