Solved: Loan offer withdrawn after making an unscheduled p...

TinaLilac · ‎01-10-2025

I have been with square since 2017 I have done many payroll loans without a problem.

I had a recent offer but didn't want to carry the total amount still owed on a previous loan over to my new one, so I used funds from my Square savings to make a payment on my existing loan. My new offer completely disappeared once I did that and hasn't been back. 😟 I feel like I'm being penalized for paying on my loan from my savings but I don't know? Will my offer come back?

TheRealChipA · ‎01-10-2025

Hey there @TinaLilac

in the loan agreements, and in the loan help docs, it states that if we make an unscheduled payment then all current loan offers will be withdrawn. Another loan offer should come. But not until after the payment has processed.

Here’s a link to one such help document. And a screen shot

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!

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TheRealChipA · ‎01-10-2025

Hey there @TinaLilac

in the loan agreements, and in the loan help docs, it states that if we make an unscheduled payment then all current loan offers will be withdrawn. Another loan offer should come. But not until after the payment has processed.

Here’s a link to one such help document. And a screen shot

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!

Twpchair · ‎01-11-2025

Unfortunately, everything @TheRealChipA said was exactly right! In the future if I want to pay my loan off early or in your case not roll over that balance. Don’t do it when you have an offer (as you see) it general takes 7-10 days for your payment to post and clear on their end and for you to see it. If I pay my off early or drop 3-4k into it. I try to do it between 50-60% paid off depending on how much you process a day that way I kinda know when it is cleared I would be about 80% on my end and then the extra money should have taken care of it or in the high 90% range. Hopefully, the algorithm will pick it soon for you! Good luck!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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Summer2024 · ‎01-15-2025

Thanks for your insight here @Twpchair and @TheRealChipA ! Please let us know if you have any other questions @TinaLilac.

🤞 your offer comes back soon!

TinaLilac · ‎01-15-2025

Thanks to all! Offer is back 👏

Summer2024 · ‎01-17-2025

@TinaLilac Woop woop! So happy to hear this! Thanks for letting us know!

Twpchair · ‎01-18-2025

Congratulations! That might be record time! I love the fact that you paid it off and you get your full loan!!! ❤️❤️ I am so happy to hear this! Thank you, for the update. Here is to a great 2025!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question, hit the kudos button. Thank you!

Loan offer withdrawn after making an unscheduled payment