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!

[BodyLabPhilly]

Good luck!   I’m at 88% and have gotten to the point that I’ve paid back all of the loan amount, just the fee amount is left.  Hoping it triggers an offer today.  

[ls725]

I hope you get an offer, I am at 99% with like $20 left... no offer yet haha.

[Twpchair]

Finally, some movement! Good luck to everyone waiting! 

[ls725]

I wish it was moving for me 😛

[Twpchair]

It's been moving this week finally! Good luck to you and everyone waiting!

[Twpchair]

Good luck! Hopefully, it kicks in for you!

[ls725]

100% paid off now, everything in the green, so we'll see, I mean there's nothing I can work towards except keep making sales lol.

[Twpchair]

Unfortunately, you are right. We can't get that algorithm controlled! Just keep plugging is all we can do! Good luck to you and everyone waiting!

[TaylorA92]

Im a consistent lurker but not a common poster. I’m waiting for my 7th loan. Each one has progressively gotten a higher payoff. My last loan I got a new offer at 79%. I’m currently at 82% with a busy weekend. I will update everyone on what happens. I am in entertainment. Each loan has gone up in value so I will let you know if it drops this time as it seems that’s the common theme. We process near 300k a year.

[Twpchair]

Good luck! It's been trending higher percentage paid back to completely paid off. A few in 80s though. Thank you so much for letting everyone know. 

[PFS36]

Good morning,  y'all! Maybe one of you can help. We're in the restaurant industry but our hours are only 4 days a week.  With that being said, by Wednesday,  our processing goes to "needs work " . We do have our hours of operation listed in our dashboard. We're at 83% on a 15,500 loan which is our second loan. Does anyone else have a dip in processing each week? I apologize for the rambling,  this is my first time posting. 

[Twpchair]

Unfortunately, with just myself, if I go vacation or sick and I'm not swiping, it goes into needs work mode. The system seems to operate 24/7 and doesn't adjust to close days, vacation, etc. We're open 7 days a week until winter. we go to 5 days a week, and I see the dip and then boom right back up when I start processing again. That's been my experience since the metrics kicked in. 

[PFS36]

Thank you 😊  ! You're like the Community Guru, here. Our business is in a small town,  so most of the folks are or have been on vacation,  so our business has been slow this month.  Hopefully we'll get some great news soon and I hope everyone else does as well. 

[Twpchair]

You are welcome! A few cleared out this last week and weekend hopefully, it'll pick up again! 

[Healthyketo]

Here's to a NEW week waiting for an offer. I am happy that my metrics are all back to good standing! I had a great weekend of processing! Going to have another this week. I am Hoping and praying I get an offer soon. I messaged square last night but once again got the same email  this morning they send out to everyone that asks questions about the loans. Praying for a miracle this weeK! Hope everyone has a great selling week! 

[PFS36]

I've been following you and a few others,  I wish you the best!

[Sumtin2Eat]

4th loan, 91% paid off, good across the board over 300k Credit annual processing on pace for $400k plus and still no offer...

[Robgrey]

13th loan 

paid back 62% percent in 4.5 months 

processing over 800k per year. Open 7 days a week. Hoping for an offer! 

[Twpchair]

It's been trending higher percentage paid back or completely paid off. Hold tight, and hopefully, more get offers. It's been picking up some. Good luck!

[Sumtin2Eat]

100% paid off as of this evening.. 4th loan complete.. we will see if I get an offer in the next week.. Green across the board..300k+ processing annually 

[Healthyketo]

Seems a bit quiet lately. Guessing it’s been a slow week with loans 🤔 anyone got any great news lately? Still waiting on mine. Hopefully soon! Wishing everyone luck!