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!

[Healthyketo]

🎉. Congrats! Did your offer come in today? Glad it’s moving along. Hopefully more offers will hit soon. 🙂

[PFS36]

That's great news! Congratulations!

[Twpchair]

Congratulations! Thank you for posting! Let us small businesses shine as big boxes are closing! 

[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. 

[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!

[HippyDippy]

Looks like the dashboard just updated and no loan offer. Is it possible to get an offer after the dashboard updates?

[Twpchair]

All of my offers have come after the update. I usually update 1-3 pm Eastern time, and offers come in from 7-10 pm. I've never got an offer prior to updating. 

[HippyDippy]

Thank you. I thought that they came in right after the update. Glad to see you say this so I can hold out some hope!

[ls725]

Any luck? Still waiting on mine.. 100% paid off 6 days so far

[PFS36]

I understand the part where everything that says good or needs work can stay in the green,  but your sales on the daily side of it can't possibly stay in the green percentage because that would mean you'd have to do more every day or break even every day to keep it in a positive percentage.  You'd have to break each day's sales record, right? 

[ls725]

Not sure, it's always in the green for me. It does compare them to last week's sales though.

[PFS36]

Someone is eventually going to crack the algorithm lol

[locksmithnick]

Mine is also always green. 

[DonutLady]

I finally had an offer come in yesterday at 77%. I accepted it. But it says 1-3 business day for approval. This is the first time I had to wait 1-3 for approval. Usually the money will be in my account within 15-30 minutes. But I’m thankful since school is about to start so we need a lot of inventory! That’s our busiest season! 

[Twpchair]

Mine was a Saturday night and funds in my account Monday. The weekend tends to run a tad slower. I didn't get an email, but the funds hit my credit union, and then the email came. Watch your loan part of the round part that tells you how much you paid or percentage is. If it goes back to 0, paid off, and the old loan disappeared, it's been approved and paid off the previous loan. Unfortunately, it will probably hit Monday. I believe I checked my credit union around 1 p.m., and it was there. Congratulations!!!!