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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Nothing yet. I was at 80% at the beginning of the week Im at 82% today 10-9-25 and nothing yet.  just checking on it everyday.  I got one offered in april these year when I was at 75% on the dot. As soon as I hit 75% the next day I got an offer. I thought it was gonna be the same thing this time. Bus I guess not. We just have to wait and see. 

 

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Welcome first, and good luck with the algorithm 🤔😩 I can help you with a few tips and insights on what is essential to look at both positive and negative. 1st, when you are new, it's tough to determine how the algorithm is working. 1. It's trying to figure out how you process, daily swipes vs cash or checks, etc. It's key to remember to keep swiping daily, try to increase the number of swipes, and the dollar amount. New customer vs returning. All those equal a growing, healthy business vs just maintaining. Keep returns, chargebacks, and disputes to a minimum if possible. Square takes into account your history of prior loans and years with them. This is why it's harder to determine when you might receive the next offer. The more you do of the above, the better the algorithm will fit you with the best offer according to your processing. That's why it's key to keep those numbers improving. Please remember that metrics are an excellent tool for us to track our sales and trends, but metrics are ALL green, which does NOT guarantee anything. However, you are doing great. I've been around all these tools before, and my 1-3rd loans were in the 1-3k range. As I grew, so did my offers. I get roughly 5-6 offers in a year now (I don't accept every offer), and my sales are up close to 40% now vs last year. Business is doing great this year. I process about 80-84% all cards. Offers are going out every day, all day, worldwide! Keep pushing those cards and building them up each period, and you will be just fine.  Good luck to you!

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Community Team

Hi @Crispin2k253172 

 

Appreciate you taking the time to post! 

 

Offers are based on many business factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. New offers are not automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. We do not have a specific timeframe for when another loan offer may be available. However, we will continue to automatically review your account for eligibility.

 

If your business becomes eligible again, you will see loan offers in your Square Dashboard.

Learn more about Square Loans in our Support Center.

 

Feel free to reach out to us directly if you have any additional questions!

 

Abby_M
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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Just hit 57%, feel like I finally hit the mark where I can START to hope to look for one in the next couple weeks, these loans are so helpful going into fall/winter months, so nice to have a cushion! Good luck everyone!

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Yeah I feel the same now sitting at 64%. I’m on my 23rd loan since 2014, and I really love the process and how Square does things. I’d say eventually they’ll have a “request a loan” button in the dashboard of some sort for longtime customers, as they seem to always be evolving. I also anticipate them doing mortgages. Let us know when you get an offer! Hope you had a great year! 🤘🏻

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🤔🤔🤔🤔😏😏😏

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Nice to see you! I guess we have a few sticking around. You know how it works so keep doing what you have to and get that algorithm moving. Good luck to you!

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I’m a long time lurker and I rarely post on here but I like to update when I receive offers to help others on here. I use this forum to try to figure out the algorithm (which seems so random). I received an offer this morning at 69%. It was the exact same as last offer received.  This is also the second smallest percentage I have received an offer. My lowest percentage being 68% and my highest being 94% paid off. 

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Congratulations!!!! Thank you for sharing. It does help others 

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At 64% currently and usually start keeping an eye out for offers around this time! They always seem to come at just the perfect time lol, would definitely be helpful sometime soon. Will let you guys know if/when one comes through! 

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