Loan offers

[Ggrice0208]

Hello

I have had five loans now and I always get offers when I am 75% paid off

I am now over that and still no offers

contacting the loan team is pointless they just say the same thing 

I can’t get my head around the whole process and pint of a loan team that can’t help 

[TheRealChipA · Accepted solution]

Hey there @Ggrice0208.  Not Square here, but someone who has used Square Loans occasionally over the years. I understand your frustration, but as we all know the loan offer process is something of a mystery.  This is mostly because there are not really "loans" by the strict definition, but rather merchant cash advances (MCAs) which are tied to a number of data points on our Square accounts, rather than tied to credit files and such.  That being said.....

Has anything drastic changed with your history with Square?  I'm thinking specifically about your card processing volume, since the single most important metric that Square's algorithm uses is our card processing activity.  If, for example, your card volume is flat over the past months since you received your current loan, then it might take longer before you would be eligible this time around.  Or, if your card volume is trending downward right now, then it definitely will taking longer to be eligible (if you are even eligible at all).  Payoff percentages are really meaningless, I've learned.  What matters is our ability (as demonstrated by our card volume and sales, etc) to pay back loans consistently and within a 12-18 month period.

I've gotten new loan offers at as low as 60%, though not in the past few years since the worldwide credit market is in turmoil.  I've gotten other offers at 80-90%, and even a few long after I had paid off a current loan.  I can say that over the past few years, if I've even wanted a Square Loan, I've noticed they have come much sooner.  But last year my card volume was up 30+% over the previous year, and this year it is up 20+%, so my business is actually screaming eligibility on all fronts.

Anyway, the payoff% is not a metric to hang your hat on.  What matters is card volume trends (up/down/flat), card processing frequency and consistency, lack of dings (disputes, large returns, etc) and so forth.

I wish you the best.

[Ggrice0208]

Thanks for the reply 

I process more now than before been with square several years and always done a lot of business with them

It really frustrates me that they charge you a substantial amount for the loan and when you need to apply you can’t and have to wait for them also the so called loan team I really can’t see the point they can offer you absolutely nothing waste of time in my opinion 

the whole process is so frustrating and needs fixing 

[Twpchair]

Trust me you're not alone. Many people are used to that 75% range an offer pops up. Right now if you read through the thread it's all over from 60% to paid off. I'm like most people on here. I would like to see the day when we could actually apply for a loan when we need one! I don't take every loan but when I can use one its a waiting game. Good luck, hopefully soon. 

[Mtnmama429]

Single mom business owner 86 percent on my current loan and no offers coming in 😭

[Twpchair]

Hold tight hun. How is sales, new customers, and volume of swipes? All good key points for an offer. With no guarantees with it is hard to say. For most the % has been higher. Keep the growth part up and the negatives away. Good luck

[Abby_M]

hi @Mtnmama429 

Thanks for posting on the Seller Community

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. 

While you are not currently eligible for an offer, your account is automatically reviewed daily to determine eligibility. Offers are based on many factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers. If you become eligible again, we’ll notify you directly through email and your Square Dashboard.

If you have any other questions, please feel free to contact us directly!

[Twpchair]

Any news?

[Ggrice0208]

hi

so I am fully paid off have been fora week now paid off the loan in 4 months had 6 loans all paid off in advance 

so its been 2 weeks since I was 80% paid off and I would have thought a offer would have come by now

Square loans firstly are expensive and the process is all so frustrating been with square for a few years now so loyal customers means nothing 

I feel they dangle a carrot in front of you so you keep processing and believe a offer will come 

to be honest I am sick of the whole thing 

[Michellewitt]

I’ve considered leaving square altogether after this loan is paid. I’m at 86% and square has honestly done nothing for my business. I’ve been with them 6 years, they’re a hassle, have terrible customer service and cost more fees than a local bank. For someone just starting out it’s great but do not recommend it for the long run. 

[Ggrice0208]

Can’t agree more SumUp is probably where I will be moving to 

[Ggrice0208]

I completely agree with you the whole square process is so painful and they have zero customer service 

I was on the live chat they claimed to be part of the loan team and can help then they said after 20 minutes of chatting they would refer me to loan team and o would receive a email in 24 hours email never came 

I will be moving my business elsewhere probably to SumUp my friends are with them and they say they are very good customer service is very good 

[Twpchair]

Hello, yes, they are still processing loans daily. The mods have a pinned post about this in the 2025 loans thread. The percentage of loans paid back is now higher than before, leading to less rollover and more funds to invest in your business. They are working to increase the number and volume of swipes and to attract both new and returning customers. All these factors help maintain a healthy business. The metrics mainly serve to help us identify what we need to improve. I know it doesn't help with an offer now or the 75% that we're used to, but things are changing. Not everyone will have a perfect 75%, and you might see a few at 69% pop in here and there. We all process things differently. The algorithm is beyond my control, but most POS systems, like Square, use similar ones. I wish you the best of luck, and please keep me updated. 

[Ggrice0208]

Hello 

thanks for the reply 

I know people that process with SumUp and the whole process is much easier and pain free

I am sick of the whole process and to be honest the way your talking it’s like square is doing me a favour giving me a loan 💵 but don’t forget there loan fee is far from reasonable and is very expensive so I think I will be moving over to SumUp over the next couple of days 

[Twpchair]

I didn't mean to sound like I was doing you a favor; I apologize for that. To get a loan now, you are working your tail off. It's not just you, and I am trying to get confirmation from my boss. Since you have merged here, have you seen any other country receive an offer? I'm a stats person, and I was off for 8 days, so I might have missed one, but I haven't seen anyone from England, Canada, or Australia receive an offer. I know not everyone uses the forums, but I should see at least one. I am not the type to tell anyone what's best for their business—that's your choice. I have a feeling the crossover is lagging in loans. I wish you the best of luck in your decision and continued success! 

[Ggrice0208]

Thanks for the reply 

it’s just a frustrating situation don’t really want to move but how they are treating their customers is shocking 

I believe they need to address this problem asap 

[Twpchair]

I agree and I escalated this to get some clarification on the merge and the lag between the two. I sent 4 messages up the ladder to see if I am on the right track here or not. There are way too many of you not to be a hang-up somewhere. I did notice you said you paid off all loans early? By sales or did you pay them off manual? If so when? 

[Ggrice0208]

Hi 

paid off 75% by sales and the last loan paid off in four months via sales 

so that’s exactly why I can’t get my head around how the hell am I not eligible 

processing daily in excess of 150k a year all aspects are good operating the same for years 

absolutely no reason I should not have been made a offer