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]

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@Crispin2k253172 wrote:

Very true at least I will get to keep more of he loan since im at 80% now. I have tried other ways on my own. like CC, line of credits stuff like that but my credit is not so good so they always ask for personal guarantees so I can never qualify. Square has been the one there for me since I started with them. I dont rely on the loans but it does help boost my business a lot better as far as having capital. 

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Yes that is correct, the process with Square Is nice and convenient for that as far as no credit checks etc (maybe a soft pull?).  I completely understand that 100%.  There amount of companies that offer strictly business credit options without a PG are very slim now days.   I would love to be able to give you the "exact answer and method" for a Square loan but unfortunately all we can do is say the same copy/paste answer.  It does see like your business is doing great by how quickly you are processing the loan repayment so that is a plus, and just keep at it and don;t expect an offer and then when one pops up you can go from there if your business needs it. 

Also.  Check into Myfico forums.  There is a wealth of information on there from including rebuilding credit to business credit.

Best of luck! 

[BoBos228800]

Hey @Crispin2k253172 any luck of an offer coming in? I've been at 80% now and waiting patiently. I'm new with square and wondering how this algorithm thing works lol

[Crispin2k253172]

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. 

[Twpchair]

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!

[Abby_M]

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!

[Stanleybear323]

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!

[locksmithnick]

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! 🤘🏻

[Twpchair]

🤔🤔🤔🤔😏😏😏

[Stanleybear323]

Thank you so much!! And I just saw you got a new offer! Congrats! So happy for you, and as always thank you for updating! Keeping my fingers crossed an offer comes in soon. Have a great rest of the week and congrats again!

[Twpchair]

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!

[Stanleybear323]

Thank you so much!! We have just been crazy busy all summer and paying off slowly but surely lol! Thank you as always for your amazing advice, encouragement and support!

[Twpchair]

You are so welcome!

[ZOKZAC]

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. 

[Twpchair]

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

[FirstLook]

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! 

[locksmithnick]

New offer came in this morning at 3am. 65% paid…..highest offer to date 

Hasn’t been approved yet, though, which normally happens within an hour. 

[Damien_H]

Congratulations

[Twpchair]

Congratulations!!!!! Thank you so for the update!

[Twpchair]

It depends on the timing. At 3 am, I wouldn't stress. It does say 1-3 business days. No news or information is needed; it is just taking longer. I see a few others from Saturday are still waiting. There must have been a good chunk. Congrats 👏 

[locksmithnick]

Being that this will be loan #24 and 12 years of history, I honestly thought I was just on automatic approval and it was just a machine punching the approve button lol

[Twpchair]

You're very close, but if the person 20 approvals ahead of you needs to send in documents, it will bottleneck it. But I usually take mine, for instance. If approved during the weekday from 11 a.m. to 3 p.m., it will take about 15 minutes to be approved and deposited. Saturday, forget it for me until usually late Monday or Tuesday morning.