New Square Loan in 2024

[SPPhotography1]

I’m at a bit of a loss for what else I need to do to be offered a new Square Loan at this point. I’ve been with Square for over 10 years, had 7 loans now that I’ve have paid back early every single time. Metrics are all in green, record sales year. In 2023, record numbers across the board, no refunds, no complaints or issues of any kind in our entire history. Current loan is 80% paid off, but no new offer in site. This is the kind of stuff that causes businesses to find someone else to process through! Please help! I’m sure I’ll get the same old excuses that you guys send to everyone about looking at every aspect of the business. But there isn’t a single aspect that isn’t way up. I’m not sure if there is a new process they are using now, or if there is some kind of issue with my banking or something else I’m not thinking about or aware of. Any help would be much appreciated. Thanks, because I could really use some new capital to start the year off with and reinvest into my business!

[DinaLRosenberg]

We have an offer sitting.  We have never once used square loans and instead have a line of credit with our local bank. 

[Ccsla818]

I’ve been waiting also I’m over 80% paid off they always offer me one by like 60-70%  paid off I’ve had about 4 total all paid on time I’m green across the board I was really relying on it since every time I’m over 60% it always comes but not this time ugh 

[Bonzy2010]

same here, at 84% usually offer by 70-75% and nothing yet

[NRVGuru]

Reached 86% paid, and am looking to move & refresh our stock for 2024. After hearing nothing all through the holidays some extra help would do wonders.

[joeyjones16]

We're at 88% and no offer yet. We have always had an offer by this point.

[Marinaradulovic]

I just hit 100% paid and no new offer, I paid my loan in 3 months and it's my 6th loan paid off. Before I always received new offer when I am around 75%, what is going on now I am not sure. I contacted them but get the same answer like here, they can not give you any info over the phone. 

Good luck 

[ddlbb]

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[Mkennedy25]

I’m at 75%, still waiting for an offer. All

factors are still green. So frustrating 

[Stefanieblue]

Sitting at 96% and no nloan offers as of yet... I've been with square for 12 yeaars and I've always received one around 70%.  I've noticed most of my loans has came after I completed my loans at 100%.  So I know for sure I'll be paid off within the next few weeks at the amounts I collect from my customers.  I'm encouraging my clients to use their credit card more to help push me to 100%.  I do not make any manual payments because it will take 7 whole business days for it to complete so if you have made any manual payments that can extend the process of receiving one.  In the past when I complete a loan, I was offer one the following day.  But that one time I made an manual payment to payoff the loan, it almost took them 7 to 10 days for me to receive an offer.  So I'm patiencly waiting just like the rest of you guys.  I will keep you posted if I receive one ... hopefully this helps someone out...

[GlitzyCow]

During the outage last week a random factor appeared for me that was NEVER there before. It is on the eligibility page and it says “account activity” right above processing volume. Further on down the page I have another account activity that has always been green. During the outage the new one showed up after my previous days account update and before the update happened the day of the outage. It says “needs work”. Has anybody else had that happen to them? Also- I have been completely paid off since august 2nd with no new offer. It was my 12th. I’ve always paid ahead of time and I’ve never had any issues with my account, ever. I’m so frustrated. Square tells me that was there all along and I have argued with them it was never visible to me and why one is green and one isn’t, in the same stupid category. 

[Mkennedy25]

I’m at 78%, and all factors have been green. I’ve been using square for 4 years and this would be 5th loan. I’ve always paid way ahead of time and been ahead of payments. I wish there was a way to we could know if we’d be eligible instead of being misguided by their factors. 

Square was shut down yesterday disturbing our transactions and it has been happening way more often now. It’s really upsetting and messes with our business. If they need to do updates, then update at a time where businesses aren’t being disrupted. It may be time to explore other options after the loan is paid off if they don’t give me another offer.

[Mguerrero08]

I’m on my 12th loan at 63% paid off. I got my loan Dec 11 and I’m already almost paid off. No offer insight. 

[MishaGRaw]

Normally I would have had a loan offer by 70% but now I'm sitting here at 78% and nothing. It's really frustrating trying to figure it out. Smh congrats to getting your offer !

[eatMoroccan3119]

Update ! 

We are 66% paid off on the current 30k Loan and got a new offer for $51,000 yesterday! Waiting for approval. 

It's only been barely a month too since we accepted the 30k loan. 

For those of you waiting for an offer, keep processing and keep the transaction numbers up 😃 

Hope your offers come soon. 

[Nguerra]

Congrats on the loan offer! 

I had a loan offer for $38k in August and I am 67% paid off. September-October is typically a slow time of the year for me, so it really came in Handy.

I am hoping for at least a $50k this time. I am wanting to expand operations and that could really help me do so. 

[Jose22282]

Did you ever get an offer?

[mrAs]

Presently just crossed the 75% threshold of a 11,000 Loan and hoping for a new one to appear any day now.  Hey everyone, send positive energy this way. My business really needs this loan right now.

[stanleycourtney]

Did you ever get an offer?

[NRVGuru]

Good to see some offers floating around! We've hit 88% paid over here, and would love some extra inventory to jumpstart our 1st quarter, especially after our big move.

[CTC18]

Is anyone still getting loans in the 60% range? I’m currently at 60% on my 11th loan and have paid it back 4x as fast as the minimum due.

[BodyInBalance]

I've always gotten one by 69%. Even last year when others weren't, I still received an offer. I just hit 69 today. If I get one in the next couple days, I'll update you!