Square Loans in 2024

[#1]

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!

[#2]

how much had you paid on your previous loan or was is paid off?

[#3]

Have you gotten an offer yet? I’m at 80 % still no offer . It would be my 4th loan if I received another. Very frustrating 

[#4]

Hey! Did you get your loan already? 

[#5]

No loan yet. I’m at 80% paid since last loan . Last time was offered one at 67%

[#6]

Nothing yet, sitting at 65%

[#7]

Got loan at 85%

[#8]

Did you have your bank account connected? Debating if that helps or not.

[#9]

I’ve had my bank account connected since I began using square in 2018

[#10]

No, I mean in the loans portal where it says “connect your bank account here” and says it helps generate loan offers.

[#11]

yes, mine is connected.

[#12]

Still waiting at 62%

[#13]

Waiting but at 71%.

[#14]

Does anyone have their bank account connected? Trying to figure out if that helps or hurts.

[#15]

Mine isn't and I got a loan in October. I won't connect mine. 

[#16]

I've had 3 loans now since they started to ask to connect to your bank account and I have not that! I can't anyhow with square using an outside service. 

[#17]

Hello all, I’m at 81% and have not received a new loan. This loan was given to me in may of last year. The monthly minimum payment has since disappeared and we will not know what the next “monthly” payment will be until March 4th. Do you think the loan would be around the corner? 

[#18]

Still waiting at 67% of 67k loan. Currently on my 11th loan since April 2020.

[#19]

I'm sitting at 75% paid off, and just crossing my fingers at this point. Last one was offered around 67%. Is everyone waiting longer for loans to be approved than in the past?

[#20]

Im sitting at 82% and nothing 😞 

[#21]

Are your sales down or anything? My January was a little slower than last year with weather and everything being a bit worse, but my February and December were higher than ever. Every thing is staying pretty consistant on my end. I just wish we had more insight on what to aim for, or even a reason why we aren't getting offers at the moment. They always come in exactly when I need them, but I've been hearing a lot of negative things from others in the community and it makes me nervous!

[#22]

My sales are higher than ever (consistently) and nothing. Sitting at 68% paid.