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!

[DieselMaster]

Just wanted to update everyone I recieved an offer today at %77 paid off The new offer is slightly Higher than my last  Good luck everyone and may all your businesses prosper

[Twpchair]

Congratulations! That's about 6 people posting now this week! Looks like things are rolling along (fingers crossed) don't want to jinx anything! 

[JMIL2024]

Since December 1, we’ve paid off loans of $1,350, $3,500, $7,500, and $10,500. Still no loan offer after paying off $10,500 last week. Paid that off in 60 days. I thought for sure we’d get an offer. 

[ohboi]

Same! Paid off 100% and nothing 

[JMIL2024]

Those loan amounts are not including fees we paid as well. We basically paid off $25K in 6 months time. That’s a brand new car paid in full!! Where’s our next loan offer?? Clearly you’re making money off us. 

[VanKalkerFarms]

sounds like you are really doing some good business to get your loan paid off in 6 months.  Try your best to just keep on selling and processing and not take out another loan as that will help you keep even more of your profit.  I understand at times you have to in order to keep going.

[Twpchair]

This right here! He is banging it! Keep up the great job and great work and let it roll! 

[coolcoffeecrumb]

Have you gotten an offer yet?

[hotpot1]

Not yet and had a busy last week and weekend. Going on a couple weeks now fully paid off. Never happened before. 

[coolcoffeecrumb]

Have you gotten an offer yet, if not how long ago did you pay your loan off?

[hotpot1]

Not yet 100% paid off too

[arxssa]

i’m 57% paid off but received another loan offer last week.  i didn’t move fast enough & now it’s not available but they are still giving them out. 

[VanKalkerFarms]

That is super interesting. 

[Twpchair]

First one I've seen that low in long time! It's moving and people are posting offers are rolling out last week and this weekend a lot. All high % 1 paid off completely. Myself personally,  I prefer if I take the offer I want all my offer or at least 95% paid off type thing. I don't want 25-40% going to an old loan. Unfortunately, everyone or their situations might be different! If I didn't have my line of credit I would be lost or in a few tight spots. Hot water heater went out and 2 days later the furnace! SMH. But, I have a great relationship with my Credit Union and 8.75% I won't complain but dang a double wamma! This was a few years ago!

[Twpchair]

Yes, I've seen about 7 now this week! Yours the lowest % in a long time! I'm sorry you missed out if you needed it. I'm not sure what the real time it stays up as it seems to be different for people. I had one but it was a late night Friday and stayed till Monday night and then gone. I didn't want it or needed it then. I've also received them late Saturday night and accept it and Monday before deposit. So I'm guessing weekends compared to week days move different. I know once it's gone back to the algorithm you go! I've seen many call on the offer disappeared before they could hit it and wanted it and no luck. One nice thing when it comes back and you will have a lot more paid off! 

[BIGK]

Just received another offer at 71% and this one was almost $20k higher! I submitted the application last night around 7pm but haven’t heard anything back yet. I usually get approval and funds within 30 minutes but not this time. I hope that isn’t a bad thing! 

Has anyone had to wait a while before?

[Twpchair]

Congratulations!!! Thank you so much for posting and yes my last one was a Saturday and I know it's slower on the weekends but no don't stress by tomorrow the trend of 20-30 minutes is a day now ! Thank you so much for letting us know and please 🙏 keep us posted as it helps others!

[TrendzbyM]

That's so great!  I just hit 70% today and hoping for an early one as well!

[Twpchair]

Just hold on hun , it's taking a day depending on the time! Watch your loan  part more than email okay! Congratulations 

[Twpchair]

Yes! Once on Thursday and the other was late Saturday. Each one hit my bank account before I got a message from Square. I watched my old loan, and once it hit or went to zero, I knew it was fine! Monday-Wed seems like 10-15 minutes and boom done. 

[BIGK]

Thank you! I hope we all get some good news soon! 🤞🏽