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!

[taraj2004]

Que everyone frantically checking for an offer haha 

[Twpchair]

Congratulations! Thank you for the update! Definitely 68% I haven't seen too many of those percentages in a while! Hopefully this starts to pick up for others!

[GoodBoyDogTrain]

I was hopeful since that's where I used to always get an offer, but didn't think it would happen! I hope it starts rolling trough for everyone waiting soon!!

Since it was after hours last night now I'm just waiting for an approval, this part almost makes me as nervous as waiting for an offer 🤞🤞

[ls725]

July 31st @ 8:18 PM PST: no offer in sight, loan paid off for 11 days now. Huge increase in sales compared to last quarter, Square Loans doesn’t want any of it :(.

[studio219ink]

Reading some of these responses is a bit demoralizing. I've been with Square 10 years like a lot of you, 80% repaid on my current loan, all green metrics and yet, still no offer. Tried calling and got the response was them reading from a script, basically the same stuff I read online. Has anyone had any luck getting manual assistance with getting their account reviewed?

[Twpchair]

A couple got through the script part and to a person who said they would manually look at and follow back with them but that's been a couple weeks ago and they are still here waiting and no word yet.

[Twpchair]

It's been pretty slow, as you see. The first one here this week that at least post here just received an offer yesterday at 68 or 69% that hasn't been the trend most of them have been at a higher percentage paid back or completely paid off. Hopefully, that's good news. We have 5/6 on here now, completely paid off for a month or longer, and no offer, still all green metrics, great sales, and nothing yet. Definitely, ready for a big push of loans going out. Good luck to you and everyone waiting! Please let us know if or when you get an offer. It helps others.

[PFS36]

Here's to a new month and new offers! Thank you to everyone that's updating us. Hopefully August will be nicer to us! 

[Healthyketo]

Here’s to a new month! 🙌🏽 Praying we all get offers soon! 

[locksmithnick]

I hit 75% this morning on my 20th and largest loan. Sales are up 48% over last year, let’s see if an offer comes my way this afternoon. 

[Robgrey]

I’m at 67% largest loan yet paid in 5 months. Sales are up 43%. Looking for an offer any day🙌🏻

[papaya19]

Sending good vibes to those waiting! I am currently at 90% paid off on my biggest loan ever. I am a very small business and maybe process around 7k a month if we’re lucky. A loan would be very beneficial for us, as we are struggling financially and have even considered throwing in the towel if nothing gives. I know It’s this way for a lot of others, and my heart goes out to you. Sending everyone prayers for good answers today.

[Healthyketo]

😪Don’t give up! I know exactly how you feel. I am a very small business myself I process a little under 10k a month. I need an offer to promote and purchase more product and be able to take on more clients. I have an opportunity to grow but need the capital. Applied at other places but since I bank with square no one will accept my square statements. I’m at a dead end and every day I wake up in hopes for an offer and feel so defeated when there’s nothing. Been with square since 2021 so not to long but it had been great thus far. I don’t know what to do anymore. Feeling very discouraged but I cannot give up. I’m literally running my business on faith. I’ll pray you get an offer soon! 

[hairkandi74]

Hi, all! I've been lurking this thread, as I am in this boat as well. You've all been really helpful and helped me stay positive.
My last loan from Square is completely paid off, with all my metrics in the green, and still no offer. Fingers crossed this afternoon, maybe? I'm EST, what time do you all normally check for offers?

[papaya19]

It usually depends for me, I’ve gotten offers as early as 10:30 am PST and as late as 7:30 PM PST— I feel like the majority of them come after your account has been updated. It’s a little frustrating! 

[hairkandi74]

I see; so the key I guess is to keep checking throughout the day. Appreciate the reply!

[PFS36]

Good news is, we're starting the week out great, but it's majority cash again.  Pretty sure that doesn't help the offer process,  but it does show signs of business getting back to normal.  We had a very slow summer so we'll take it!!!

[ls725]

My sales seem to have slow down now from 800-1k a day to now $0 today, this isn't good.. I hope Square gives me a loan even though my weekly processing might go down a bit :/. So much for being all in the green lol.

[Twpchair]

We go through spurts like that at the store. One week all cards and very little cash. Yesterday, all cash no cards at all. Next week who knows probably all cards? It strange 🤔 at times. I'm like you though customer are customers. Good luck!

[PFS36]

At this point,  a sale is a sale. I'm just happy that we're on the uptick. School has started back, so not as many folks will be on vacation and this week is payday for a lot of the surrounding businesses.  All the cash is why we don't connect a back besides our own. 

[PFS36]

Dang, I hope it picks up. Ours has picked up since last Saturday and everyone gets paid this week in our area, but the majority for the last few days has been cash.