Loan Process 2025

[BobH02]

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

[Twpchair · Accepted solution]

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. 

[Minion · Accepted solution]

---

@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!

[Adalynn]

Hey @Lostone500 !

Appreciate you taking the time to post.

We can’t guarantee a loan offer even if the key factors displayed on the eligibility page show all “Good.”

There are many factors that affect loan eligibility, but the factors listed on the eligibility page are key factors we consider to help you understand our process. There’s no additional information we can share at this time, and we can’t go into further specifics about program requirements because the criteria we use is proprietary.

If you’re eligible for a new loan, you’ll be notified directly on your Square Dashboard and via email!

Don’t hesitate to contact us directly if you have further questions or concerns.

[Barbershop806]

Stay positive hopefully 🤞 you’ll get an offer soon. 

[Healthyketo]

Ok I’m so confused. Had our big Grand opening to our new location this weekend. Sales were good. Went about from 74% to 77% in a day. Got an offer just now for $600 less than what  i received before. My sales are way up for the year so far, we have a good mix of new and returning customers. No disputes. Metrics all green. I was anticipating an offer for at least a couple more thousand than the last one but it was much less. HOWEVER I am grateful for whatever offer comes through. (Just got the email now and as approved and funds are already in) I’m just confused on how the system works. Maybe it’s wanting to see how fast we can pay this off, maybe wanting to see if our sales will remain consistent before a big offer appears. I don’t know. I guess will wait and see. Just wanted to keep everyone posted 

[Barbershop806]

sorry to 👂 congratulations 🍾 just look at the bright side, more 🧢 to put towards the business. Stay positive and great things will come. 

[Twpchair]

I agree it's rough but finally loans are moving. When I saw the offer I was like yessss! They have fought and fought to get this far. Many would have given up. Now, 4 successful loans. I do understand expecting more and getting less but it's a positive movement and that needs to continue. 

[Twpchair]

I would guess your part 2 might be part of it. I have seen many open locations 2 or 3 and two things happens. 1. Your main loan is always went to one business.  They know your business, processing habits, etc. Add in another location how much is that going to change location 1? How well is #2 going to do and how fast to take off. Say all goes 100%? It's a double-edged sword without overextending you financially with 2 locations it's not a bad offer. I've seen half before. I know the extra would have been great starting out but basically that's what you are doing with the new location. Get that one rolling and start getting 2 offers. One for each location. I want to say congratulations though and good luck with number 2 and go get it!

[Alexanderoep]

Congratulations on your new loan I am currently sitting at 76% hoping for one any day I got an offer to buy a good friends, inventory that is unfortunately losing their business for about 90% off of what the inventory is worth it would be the deal of the century, if we can come up with the extra funding needed to procure the inventory so fingers crossed also congratulations on your new new location sending you much prosperity 

[Twpchair]

That's when it really stinks. I've been there before when I could get furniture closeout. I was lucky enough to have a LOC at my credit union to get it as a profit in a few weeks, paid for it, and then the offer kicked in. Hopefully, that ole algorithm lands on you! Good luck; deals like that are extremely rare and very profitable.

[Alexanderoep]

Thank you fingers crossed with the algorithm comes to us thank goodness my friend says that she can wait a few weeks for us even if she has to put the inventory in storage so hoping that through good sales and smart funding we can make it happen

[Abby_M]

Hello @Healthyketo 

Appreciate you taking the time to post.

Eligibility is based on a variety of factors, including recent Square processing volume, payment frequency, outstanding balance, and account activity. Eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. The formula balances different factors of your business that may positively and negatively affect your business’s eligibility for an offer. We believe your business can safely support this amount and may be able to repay it in a shorter time frame than your previous loan offers. And since we believe your business could pay this loan back in a shorter time frame, you may qualify for additional funding sooner as you come close to repaying your loan in full, as long as your business remains strong.

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

[Twpchair]

Hello, anything yet?

[Ulmen406]

Has anyone had any luck recently? Was sitting at 65% a week ago, and at 82% now. Biggest loan offer I’ve had and paid back faster than most of them! Just curious! Cheers 

[Ann14]

I’m sitting at 93 ..no offers yet

[Ann14]

It was a big offer also for me .. maybe soon 

[Twpchair]

Whether it's just a coincidence or the algorithm working, a few of us have noticed that once you get past the smaller offers, you pay off pretty quickly and receive your highest offer, your % paid back is higher. No, concrete or 100% accurate information, just a few of us watching a trend with offers. In the end, with no guarantees, all of you who report your status help us to help others. This isn't the first, and a good 80% state the same thing. Depending on how you're processing now, sales are up, swipes are up, the dollar amount of swipes is up, and new customers are up. Those are key now, along with your history, years with Square, and no negatives, returns, chargebacks, disputes, etc. Hold tight, loans are going out daily worldwide. The algorithm is looking every day. Congrats on the largest offer, and here is to another one! Thank you for all the information that you provided.

I did copy and paste from the post two down from yours as they are the same. Keep swiping cards daily, the dollar amount of swipes up, and new customers vs return customers, and no negatives if you can help it. All this plus your history equals a good, strong healthy business that's growing. Loan are going out daily just keep doing what you have been doing and let that algorithm do its job! Congratulations on your largest loan. 

[Twpchair]

Whether it's just a coincidence or the algorithm working, a few of us have noticed that once you get past the smaller offers, you pay off pretty quickly and receive your highest offer, your % paid back is higher. No, concrete or 100% accurate information, just a few of us watching a trend with offers. In the end, with no guarantees, all of you who report your status help us to help others. This isn't the first, and a good 80% state the same thing. Depending on how you're processing now, sales are up, swipes are up, the dollar amount of swipes is up, and new customers are up. Those are key now, along with your history, years with Square, and no negatives, returns, chargebacks, disputes, etc. Hold tight, loans are going out daily worldwide. The algorithm is looking every day. Congrats on the largest offer, and here is to another one! Thank you for all the information that you provided..

[Getonthebus]

Our business is located in an area where the warmer months bring much higher revenues than the colder months due to the tourism traffic with people coming in to the area to go whitewater rafting. As our revenues ebb and flow, the Square Loan offer on our home page fluxuates as well. We have never taken advantage of the offers but do see the offers. 

Have you all been happy with the interest rates charged? Repayment schedule? Do they take a percentage of your daily credit card payments? 

[Twpchair]

I'm in Michigan, so I understand the difference between the prime summer months and January-March. The terms are straightforward, and the entire process (depending on when the offer arrives) is usually fast. It is how easy and fast the process is; it doesn't impact your personal or business credit. That is what most would say is their primary reason for accepting an offer. I don't take every offer, especially from May to December, unless it is a good one. I do have a LOC with our small local Credit Union. They do take a percentage that you agree to accept daily, as long as you have processed a card. They also have some different types of repayments in the works. They also have an American Express credit card that they are rolling out to users like a LOC. I apologize I missed this question. If there is anything else that you need don't hesitate to reach out. There's a great group back here. 

[Twpchair]

It's been pretty quiet in here these last 2 weeks for those who post here at least. 

[Damien_H]

Heyyy. Still here. Just working hard EVERYDAY lol

[Twpchair]

Good to see and hear that 

---

@Damien_H wrote:

Heyyy. Still here. Just working hard EVERY DAY.

---