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. 

[Twpchair]

Hello, I don’t have access to your personal information, but I can explain why there are no guarantees on when you’ll receive an offer. The percentage of loans paid off varies, with few in the 70% range. Your time with Square impacts this—loans 1-3 tend to have longer intervals since the algorithm has less data to work with. Building a processing history and demonstrating growth is key. As my business grew, so did my offers over the years. Keep an eye on your dashboard; an email should follow. Unfortunately, it’s a waiting game, but good luck! Please keep us posted I wish I could tell you something additional insight unfortunately there isn't no way to tell when and if it has picked you off for a look and offer. 

[thehealingplant]

We got our 13th loan offer Friday at 76%. I messed up and accidentally screwed up typing some information in and had to wind up cancelling that offer. Luckily the same offer immediately popped up again yesterday morning so now that everything is entered correctly just waiting on approval. Just wanted to make sure to contribute to the information chain to keep everyone up to date on how things are going 🙂

Wishing everyone the best and fingers crossed for a quick approval.

[Twpchair]

Glad to hear you had that fast of a turnaround time. Congratulations!!

[Damien_H]

76%. Congratulations 

[Twpchair]

Yeah, and made a mistake, and 2nd offer was that fast. I haven't seen but a handful of 70s lately and then add the other. I guess the algorithm said come on now I am trying here hard!😂

[Damien_H]

Me neither especially the last few months. Could things be changing hmmm

[Twpchair]

That would be amazing if it did!

[Damien_H]

GM. Just giving an update. Received a loan on 2/13 completed on 5/27. Offered new loan 2.5 times more the following day on 5/28

[Twpchair]

Good morning and 👏 congrats! 1 day after, it was paid off and it was 2.5xs higher. That's awesome to hear! That full amount and no roller is nice. Thank you for the update and for helping others as well. Go tear it up, and continue what you are doing as it's working! 

[Damien_H]

Yes Yes & Yes ☺️

[Twpchair]

That's what I like to hear!!!

[Fitnessgirl]

Wanted to give an update on my situation. I recieved an offer at 92% of my current loan. This week i had jumped from 86% to the 92% so the algorithm liked that. The offer was the lowest loan amount I've recieved for all 4 of my loans, but it was needed so i accepted it this morning and was approved this afternoon. Good luck everyone. 

[Twpchair]

Thank you for the update. Ugh, that is a big jump in % for you for an offer of 4x less. Not what I like to hear. I am glad that you received your offer though and been there and done that before. Good luck to you and go get it!

[Damien_H]

Congratulations 

[moxiemavenandco]

Anyone received an offer in April or May? I usually have 2 offers annually (since 2018)  and it seems like they come through when I’m 50-70% paid off. Just curious what the algorithm has been looking like the past few months

[Twpchair]

It's been higher for the majority, mid 90% but we have seen a few low 60s and early 70s??? Its bouncing an really up to each individual 

[Ann14]

I finally hit 60 so now just the waiting game 

[Stanleybear323]

On my 5th loan paid back at 68%, really hoping to get an offer soon. Last offer was at 69% back in January. 

[Twpchair]

Good luck to you and please keep us posted!

[Stanleybear323]

Will do! And thank you so much for all your amazing knowledge and advice!! 

[Twpchair]

You are so welcome! Let the countdown begin! I will be watching for your post!