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]

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@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. 

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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!

[Damien_H]

Good luck 

[Fuzzhe]

I'm on my 6th loan currently at 83% and my new loan offer is almost like half of my previous amount, and the percentage is only 3% lower? I've processed more with square this year than ever before just paying the loan down so very confused and wondering if anyone experienced this before and any advice to get the loan amount higher? 

[kgucc]

Did they just offer that today?

[Twpchair]

Unfortunately, it does happen, and I have seen it too many times. You honestly have two options either pass and hope the next one is larger or accept. At your percentage just my 2 cents here. If you are not in a tough spot I would let it go and keep processing as much as possible and the volume of them u. Good luck I hope everything works out for you. 

[Minion]

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@Twpchair wrote:

Unfortunately, it does happen, and I have seen it too many times. You honestly have two options either pass and hope the next one is larger or accept. At your percentage just my 2 cents here. If you are not in a tough spot I would let it go and keep processing as much as possible and the volume of them u. Good luck I hope everything works out for you. 

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I second all of this^^^. 

If you are not in a bind, simply let it slide continue paying it back and maybe another one will come back with more and you'll be that much further ahead. 

Just keep in mind that nothing is guaranteed. 

Best of luck.

[Twpchair]

Sometimes it works holding out or you get around the same offer. I just can’t say I’ve seen anyone myself who connected their bank and the next offer was a big increase. But that’s just me. 

[kacey_k]

I’ve connected different banks and did nothing different 

[kacey_k]

I 3rd this one!!!!

[GandK2025]

I received my 3rd loan offer on the 3rd but it was much lower than I was hoping. My sales since then have been higher than ever so I’m hoping another offer comes through soon. Does anyone have insight on how long another offer might take? Tomorrow will be two weeks since the initial offer. 

[Twpchair]

There really is no timeframe. Unfortunately, you're dealing with the algorithm. I have myself been from 2 days to over a month when I turned down an offer. Good luck and please keep us posted. 

[Twpchair]

I apologize for missing it. Is it your 3rd loan? Ugh, it's been a good decade since my 3rd loan, and so much has changed. I do remember my first loan until about loan 4-5, when they started to get more consistent. Usually, as you grow, so do your offers—the first handful of loans 1. You're establishing a good relationship with Square and a great history with loans by the sounds of it! Congratulations on that. The algorithm is crunching data on your processing patterns to match you with the right offer. Right now, it's essential to keep swiping as many cards as possible and to keep the volume (dollar amount) up. All negatives try hard for 0. These are key right now. It shows a healthy, growing business, not just one that is maintaining. It sounds like you are doing all of this so just let the algorithm do its job and hopefully it will bump up that offer to reflect your business. I will be looking for a good post from you and a bigger offer (fingers crossed) good luck to you!

[bckstgeboss]

I’m at 70%, everything green. Would really love to receive a new offer before or around the holidays. Has anyone had an offer recently at around 70% paid off?

[kacey_k]

What number loan is this one for you??

[Virtuoso]

We are on our 6th. Sitting at 82% which has never been so high without a offer. 

 All metrics continue to stay green. Saturday is our biggest day of the week. We run a bakery so our sales are insane right now and paying off huge chunks. Hopeful for a miracle but I think I am starting to give up and seeing what life is like without the loan  Thank you all for chiming in

[B-dot]

So we all know that business "slows down" after Dec 25th.

Does the algorithm take "pre Christmas vs. post Christmas" sales into account?  In other words, will Square NOT punish us for having lower sales after Dec 25th in determining loan eligibility?