Loan Process 2025

Good Evening ALL & Happy New Year! I just have a quick question.

Our Co has been with Square for a few years now. We had our PPP Loan through Square, and we also have had multiple Loans Offered & Approved that were all paid off early. On our latest Loan Offer, it seems like the approval process is taking much longer than usual. We are at 5 business days 2day, and still at pending status? No other info has been requested. And our other Loans usually were approved in 1 or 2 days and then funded the next day. I’m just wondering if this is something new in 2025? And also, if any other of you folks may be having the same issue? Please let me know.

Thanks, 

Bob

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Square Champion

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Mine tend to be more Saturday offers than any other day of the week. Our busiest days are Wednesday-Sat and I tend to get a late night Saturday offers than any other day. 

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor

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@kacey_k wrote:

I actually have a question for you so I got my second loan offer two weeks ago and it was less than my first offer but the few weeks leading up to me getting my offer literally no card payments except for a few here and there most people were paying cash so I understand why the offer was low. My question is do you think it would be stupid of me to pay this loan off and then that way the algorithm could see because since I’ve got that loan, I’ve had nothing but card payments. It’s back to how it was before I got the loan. 


Hey @kacey_k 

 

So I personally would advise against doing that for a few different reasons.  First one being the most important one is the fees that you are going to eat for practically nothing in return.  It would be like throwing away all of that money literally.  Second reason I wouldn't go this route is that it can take  10 business days for the funds to clear, and the loan to be paid off.  You then get tossed back into the algorithm and an offer is not guaranteed at any point in time regardless of paying it off. 

 

If I were you, I would just do business as normal, and when it pays off, it pays off. But that is just y .02 though.  I would do/take what you can with that loan that was offered, recoup the fee;s that were spent and then hopefully your next offer when that is paid off if you decide to take it is the amount you are looking for if needed!

Dan
Square Champion
Check out Square support center for additional help.




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Did you ever figure this out? Same thing just happened to me for $1400 and I am confused. 

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Hi! Wondering if you're seeing any generated offers around the 62% mark at all? My dad passed away very unexpectedly the day after my birthday in August and I am desperate for a minor break on some business bills and to relax and rest my mind without needing to worry about studio rent and such this winter. Hoping for a earlier offer as last time I got it around 65% back in May!

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At that percentage, you need to increase daily sales, card purchases, and swipes significantly, and the volume of each transaction is up! An excellent history with no or very few past chargebacks, disputes, etc. All of these show a growing, healthy business. If you are processing about the same amount, the odds are less. 

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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Praying for soon! My sales are verrryyy up! It usually takes me about a month to pay 10% of my loan but I was able to get it from 62% to 74% in two weeks, keeping my fingers crossed. Thank you!

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Great job!

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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Community Team

Hi @olivesageeee 

 

We are very sorry for your loss, 

 

We know your business is important and we don’t take that lightly. We want you to be successful and we support your future growth.

 

Currently, offer eligibility is based on payment processing data, which means eligibility can change as frequently as your business does. Loan processing data includes your processing volume and your processing history, such as failed debits, chargeback history, and changes to your processing behavior, among other factors.

We understand that it is frustrating that we can’t guarantee that you’ll receive a new offer because you’ve had previous loans with us in the past.

 

Square accounts are reviewed on an ongoing basis to ensure that each business gets the right customized offer. We can’t predict if or when your business may be eligible for an additional Square loan, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

 

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

Abby_M
Square Loans Team
Sign in and click Mark as Solution if my reply answers your question.

This is a service email from Square Financial Services, Inc., a wholly owned subsidiary of Block, Inc. All loans are issued by Square Financial Services, Inc, a Utah-Chartered Industrial Bank, Members FDIC.
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Thank you!! I totally understand!

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Hey There! Have you gotten your offer yet? Im currently sitting at a little

over 69%

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Have you gotten your new offer yet?

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Where are you now? The last few have been higher percentages but higher offers as well. Hopefully, that is a good sign going forward! You have a few people pulling for you! Let's get that offer and the new equipment that you need! 

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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I am currently at 99% paid off and I owe a whopping $2.85 and I’ve not received an offer at all

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Ugh, I was so hoping Saturday sales kicked it in for you! I am really also hopeful this week is as good as last week!

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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I’m getting into my busy busy time so hopefully by end of week. My husband isn’t working (torn meniscus) so we really could use anything extra right now plus I need to stock up on colors etc. 

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  • Best wishes to your husband and healing up fast. 8 months ago husband tore his ACL and MCL and that was a long heal as he would not listen to the doctors and rest! Getting supplies is must! I keep looking every morning and night for your post…..finally! Fingers crossed hun.
Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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Ouch for your husband. We are definitely learning as we go!! Hopefully this week offer comes in! You’ll be first to know 

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🤞🤞🤞🤞 you got this!

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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I am 100% PAID OFF as of 2:17pm on Tuesday March 4, 2025—let’s see how long it takes 

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This is not the post I had my fingers crossed for!

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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Ok, where a Mod answers reach out to us directly and I will post again or contact us directly highlighted section, and it will say call us it is going to give you a code and call that number. That code is associated with your account directly so they can see into your account. The other poster said after 2 days of calling and emails not being fixed an offer came through the dashboard only still. So let me find your post of 100% paid off and emails are not working properly ok. 

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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I’m at 70% paid back…are you seeing any offers in tne 70s lately? I used to get mine every single time right at 75%. I need it this year worse than ever. Thanks for your help

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Yes, there are a good handful in the upper 70s to low 60s. I received an offer last week at 67% right now loans are really moving and % is bouncing from 60/70- paid off. Sales, volume of swipes, and the number of swipes per day. Negative stay away from. Above all remember Square uses your years, history with them, and prior loans into account as well. Take my offer for example. The percent was low, my numbers though the last 2 years went from 2x the previous year to already 4x the amount.. No returns, no disputes, and never one issue with our relationship. My offer 4x higher than the previous offer. But at that % it he roll over is 30% and that eats into an offer fast. A healthy, strong, and growing business is huge. Good luck and let me know how you are doing. 

Tammi
Owner of The White Pallet Chair
Square Champion, Expert and Advisor
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Tuesdays have been my best day of the week for the past year or so 

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