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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Congratulations 

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Dang I’m at 100% paid off and nothing! My numbers are all up too

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I saw your post ugh, I was hoping it would have kicked it in.  

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Me too! It’s always when it’s needed the most too 😞

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Have you tried reaching out to Square and asking them if they see anything wrong? As all your metrics and sales are up tremendously. It's not going to hurt anything but they have access to see into your account and just make sure that if something was sent and you didn't receive it with your email, not receiving notifications they can look into that as well. 

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No I have not. How do I reach out to them?

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One second. The number is above I am looking for a different one ok. 

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Ok, got it. I'm going to tag a mod and just explain how your email is not working and you are paid off. And the dashboard is behind and you are just making sure all is good or updated with the right information so you didn't miss anything ok? The will send you a reply that says to contact us directly click on the blue highlighted area. You will see a number and code. Write the code down that is connected to your account and they can see everything going on and fix what isn't working for you okay? Everything needs to work for an offer to happen and yours is not and then they update everything and add in some insight into it that we can see. But first, let's get everything working right do you understand what I am saying about that? Let me tag @marielmt she is extremely helpful and can help you get to the right person to double check all your account info and make sure nothing was missed with the email issue and dashboard okay?

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Yes thank you!!! If an email has been sent I don’t have anything for sure 

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Yes, but you need to make sure that the dashboard is working properly with the other issues going on. That is something we can not see but the Mods can and direct you to the loans department and see what is going on and confirm everything okay. Just remember to write down the code when you call that's your or their access to your account directly. How they test your email and dashboard I am not positive. They could send out a confirmation email or send a message to your dashboard or verbally ask for it. But the loan department will know that and see if everything is ok or could bump it to someone else to make sure. But the mod will help you and know where or what to do. 

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Per Square support…all metrics are good, no updates I missed and my dashboard looks good. Was told to be patient 

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That's fine it was the words I was referring to and yes just be patient for a few ok. No need to stress about it. I know its important and needed. How is your husband doing? 

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Oh I’m good I actually was happy to know all was good on my end. Thank you!!! You’ve been so kind! Hubby is the same. Lots of pain. Hoping for surgery soon. I actually received a bonus today from my TikTok affiliate stuff so it makes this loan a little less important right now. Phew…when it’s my time it will happen when I need it the most. It’s always in His timing! 

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You are very welcome! I know you were with Square for 4 years and took a break and then came back to Square. And like you said a lot has changed with your first loan and I tend to lean on the the side of caution or better safe than sorry. So let's let them do their magic and make sure everything matches and works right again for you again. I don't tag a Mod unless it is necessary. They are very busy but customer service is very important to them as well. It takes all information and all cylinders running for it to work and kick in an offer. 100% paid off and metrics off the chart Let them look into it and get everything working and see if that helps. Loans are not guaranteed if or when as you know but you need to be working properly for that to happen hun. She is awesome and can help you. Good luck and let's see if this helps to get you moving. One wrong letter missing or dashboard issues you don't know if anything was sent until it's fixed. Good luck with everything and keep us posted!!! 

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Thank you! I’ll call first thing tomorrow morning!! I have the screenshot with phone number and code you spoke of! All ready to go 

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You're welcome but the code I sent might not work if @marielmt gives you a different code, that code is specific to your account, and they pass you onto the loan department. Did you click on in your dashboard if you can get there and hit call us and the code come from there attached to your account? That's where you need to go. Scroll to the top of the page and at the right you see the 3 lines hit contact us and it says call which gives you the number and specific code attached to your account. Or Marielmet might answer before you can even call ok? Super easy hit the 3 lines to the right call us it gives you the number to call and the current code. Then write that down and call in. 

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I called in however they were not much help other than I haven’t missed any updates and for me “to be patient” per square support 

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Community Team

Hi @Kacey_W !

 

Thanks for posting on the Seller Community.

 

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

 

Hope you have a wonderful day!

marielmt
Square Loans Team
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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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I’ve called twice now and each time I’ve been dismissed and told everything looks good I’ve not missed any updates and basically “to be patient” 

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Does anybody know if you can be offered a loan with a remaining minimum due. Like if you haven’t yet completed your 60 day minimum, I’m in the 80s but my repayment window just restarted so I’m unsure if I won’t be offered one until that’s taken care of. 

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Absolutely! That is normal to be between meeting your minimum payment. If you have any balance it rolls over to the new loan and you start from fresh with your minimum amount due and when is all. 

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