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!

[TaylorA92]

Yep my account updated at 3:52 with no offer. But at 5:05 got an offer 

[yoyobanhkhot202]

Still has no offer @ 86%. Good luck to everyone!

[locksmithnick]

Do you guys put your cash and check sales into Square also, or just your card transactions? I went away from paper receipts last year and now ring every transaction, cash/check/card, through Square. Just wondering if everyone else does the same… 

May lead to higher loans?

[Healthyketo]

Is square down? I cannot get into my website and my customers are unable to make purchases. Now I’m going to lose sells today. 

[itisnotjustpiza]

It was but supposed to be fixed now.  

[Healthyketo]

Yes it’s back. 

[Twpchair]

Did it get back up for you? It didn't affect us but I did get a message with technical issues. 

[locksmithnick]

Ha! Did anyone just get the email for “Announcing larger loan offer amounts” ?!

Literally just got the email… 

[PFS36]

What did it say???? Lol

[itisnotjustpiza]

I am guessing they are emails stating they are now offering up to $350k instead of $250k.  Not specifically offering larger loans to each person.

[ohboi]

Nope didn’t get the email. What did it say?

[TrendzbyM]

Yes I got it too! But I just got a loan last month. 

[jackiebee12]

I just checked my email and i got that email at 12:15 today. crossing my fingers for some good news. i’m at 87% but this week has been so slow 

[itisnotjustpiza]

I am guessing they are emails stating they are now offering up to $350k instead of $250k.  Not specifically offering larger loans to each person.

[BWcreamery]

I didn’t get the email I believe. But I just paid off my current loan! Fingers crossed another one comes soon 🤞

[Twpchair]

Good luck, and hopefully, you will get an offer soon! I don't get a lot of emails from Square except outages? My last 2 offers no emails, only saw it on my dashboard. If I accept it, then I get the emails to sign to accepted etc. My last 2 loans I accepted 1 and not the other, but the accepted one  money was in my credit union before the email it's on its way! That is why I tell people if waiting for the deposit update check your bank it might be there already. 

[PFS36]

There needs to be a way they can take in to consideration that not all businesses are open 7 days a week.  Since we aren't open Monday through Wednesday,  there's not going to be any card processing activity,  and that puts us in a "needs work" situation.  We have our hours of operation listed on our dashboard,  but they obviously don't use that for the metrics.

[Healthyketo]

I agree with you 100% 

[PFS36]

You'd think that would have been the reason for us putting our hours of operation in our business profile. 

[Twpchair]

Ours takes a dip in the winter when we go 5 days instead of 7. What I did notice we are closed 2 days in a row, and sometimes it dips, and other times, it stays green? No rhythm or reason with it. Good luck to you!

[locksmithnick]

Some of you guys seem to be more worried about the Square Loans than your actual businesses. I mean, they know when to offer you money…. They see the data.