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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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. 

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@Kacey_W 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_W 

 

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
CoatingWorx
Square Super Seller
Check out Square support center for additional help.




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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!

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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.
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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!

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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!

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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. 

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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. 

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Tuesdays have been my best day of the week for the past year or so 

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So about 2 days later which would be 1-2 days after an update. That would be roughly mine as well. Just different days is all. Interesting thank you for sharing. 

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No problem. Someone will crack this algorithm 1 day lol

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😂 yep! Keep following the trends that triggering it! Out of everyone I’ve asked it’s been a big spike in sales 1st followed by a big leap in new customers vs returning customers. The biggest killer is disputes and then returns. That involves humans actually following through with the dispute and communicating back and forth with the credit card company and the one who purchased it and the business owner. Those will hold for a while. Here or there not so much but you start getting into 4/5 in quarter and that’s a huge red flag sent out. I try to tell new people to Square please make sure you do everything possible to keep those numbers to zero or as little as possible!

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I am currently at 68% paid back.  All of my 16 plus loans have come between 69-79% paid back.

 

I currently have a credit card offer in addition is this new??  I expect to have my next offer in the next month or so based on my processing volume. 

 

Good luck Everyone

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That’s great.

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It looks like it is hitting the general population. 

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Hope so. Not sure if you saw my message. I was offered a new loan on the 12th. Two days after my loan was paid off. They doubled my previous loan. Hopefully this gets the ball rolling for all of us going forward 

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Yes!!!! I apologize so much for not responding sooner! I'm in Tennessee for a 10 my dad had surgery and all went well and just helping out for a while. I am so happy to hear this! This is about number 5 I've seen posting a higher offer. This is a great thing! The % you know is more of a personal preference and/or emergency. Myself, I like the most of my new offer if I need it. I don't accept 65 or 69% and a 3k increase in the offer. That's eating up or into your new loan. I do understand equipment breaking down, work truck transmission went out, and you take what you can. I was happy with my increase and 85-87% paid off. Completely would have been sweet. Its been a very rough 2 weeks after 4-5 months of crazy busy winter. I don't really want to shop when it is -10 outside either and dumped 2 weeks in a row with 8-10” of snow. But the break was needed. Congratulations again and thank you so much for the update!

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Happy all went well with your dad. I agree. 80% & better if a new loan is offered. Things will turn around sooner than you think ☺️

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I'm optimistic too! Rough winters happen in Michigan but we are heading to March soon! I agree with you I prefer 80 and above!

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