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!

[Twpchair]

It's been trending higher percentage paid back or completely paid off. There are a few here and there a couple of weeks ago in the low and mid 70s that received one. Hopefully it comes soon!

[FirstLook]

Currently on my 8th loan at 58% and starting to get to the point where I make sure to check the dashboard more! Lol, last offer was in the 60% area so would definitely love to have that again, the loans are always so helpful. All of my offers have come between 60-85% so I try not to get too excited in case it ends up being in the 80% area, but it's hard not to because it's always a great feeling when a new offer comes in. Fingers crossed!

[Twpchair]

Good luck to you and everyone waiting!

[beautyspabrow]

Ok guys I just got an offer at 86%, it was not even half or close to my last offer of 30,700. Processing has gone up since that offer in October. We clear 25000+ a month. My offer was 13,100.. I'm disappointed but grateful flr

something atleast. Stay hopeful guys. 

[Twpchair]

I know my last offer in March was 2k higher last June 5k lower. Unfortunately, there are many factors involved. We could be 200% in sales, but the overall economy does play a factor as their new release. Unfortunately, it's not just square but ALL lenders. It's gonna take some time for those double the offers to come back. We are lucky as most POS promise the moon, but be careful as it's 6 months, and you start from the bottom and work up, and they are capping it off. Reps will promise the moon, but they have investors to answer to as well! Congratulations ❤️ and keep small business alive!0

[Healthyketo]

Congrats! Paid off yesterday everything in green my account was updated at 334pm cst  today and no new offer in sight. I’m hoping I will get 1 soon. 

[Twpchair]

Mine updated at around 2pm Eastern at about 7pm. My offer came in around 81/84% prior, which was 91%, and it really is trending higher percentage paid back. Not everyone, of course, but the majority! I've been watching you and hopefully it will come soon! Ps. Please watch your loan section because my last 2 offers, for some reason, it showed up there and no email? Could have been a glitch, or I accepted or denied it before an email was generated. Good luck 👍 

[Healthyketo]

Hoping today will be the day! 2 days paid off! Anyone ever gotten an offer on a Sunday recently?  

[Ann14]

I’m siting at 81 😞 and nothing yet hoping for this week ! 

[goldslinger]

Currently sitting at 75% on our second with everything in the green and nothing. We had our second loan offer March 6th at 61%. Trying to figure out what math they math in this crazy algorithm to figure out when my best chances are but honestly I’m starting to think it’s by chance anymore. I don’t know my heads spinning after reading 29 pages of this thread. 

[Twpchair]

You and everyone else wonders about that mystery of the Ole algorithm! Unfortunately, nobody knows how to! Just keep processing and and doing business that's all we can! Hopefully it will come soon for everyone waiting! Good luck!

[Healthyketo]

PATIENTLY STILL WAITING! 3 days paid off.  I can't wait to come here and say I received one. (soon hopefully)  I love seeing those comments on here! Hoping for whomever is waiting for one today receives one. 🙏

[BodyLabPhilly]

Sitting at 82%, and today is going to be a strong sales day so hoping that an offer comes through.  Hoping that your offer comes soon, too!

[Ann14]

I’m currently sitting at 82 % today updates around 3pm and nothing yet 

[Jjpainting]

I’m at exactly 82% myself but no update yesterday. My last update was on June 24th.  But I know they only update if you have card sales. And before yesterday, my last card was processed on the 24th. But I think I had 3 sales yesterday paid for my card, and that made me go from 78-82% paid off. That’s what sucks being a business that only averages a few card transactions per week, there are times where I go a week with my customers insisting on paying another way, usually Zelle. I tried to get those few customers to pay by card, which would have been another $8000 in sales and brought me to 90%. But I can’t help that. My loan will be paid off in about a month though, so I’m hoping I’ll get an offer well before then. 

[thehealingplant]

Happy 4th friends (for those who celebrate!) Wishing you all the best and continued growth and success.

[Twpchair]

Happy 4th of July to you as well! It would be a great day if everyone waiting got approved today! Enjoy your day if you are off. 

[coolcoffeecrumb]

I've been paid off 1 month on 7/8, all green metrics, no new offer.

[Healthyketo]

Wow! I hope you receive one soon. 

[itisnotjustpiza]

Our last loan was paid off on June 18th, and still no offer.  We had a week of vacation with no sales so I expected a delay.  We are in the food industry and I am wondering if things have slowed in our industry in particular in the means of financing.  

[Twpchair]

I think a lot of lenders are being very careful right now. They are 💯 still lending. We just don't see them flying out the door every day all day.