New Square Loan in 2024

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!

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I hit 84% yesterday and received an offer for today around 5pm. A couple of my metrics were red 2 weeks ago because my store was closed for a week due to Hurricane Beryl. They were red for about 5 days.  

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Which set of metrics? The Loans metrics or daily sales metrics? 

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Daily sales metrics 

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So your Loan metrics were probably in the red, too. We had a great weekend so far and we're open today,  so hopefully it will get noticed.  This is our last Sunday being open,  I hope it's a great one. Thank you for your response!

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Square Champion

We are open 7 days a week, and that helps, but in the winter in Michigan, we close 2 days a week. Plus, snow or ice storms we close on. So our metrics are all over the place! Usually, Friday-Sunday are very busy and they change to all green. My last 2 offers were both on a Saturday night after a busy couple of days. 

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Where your loan circle is, see if it went back to zero. Also, click on previous loans and see if your old loan is there as paid off. Mine on the weekend loans, I knew it was approved and just waiting for the money to hit because my old loan was gone, and my circle loan was at like zero paid off. The previous previous loan that rolled over was 800.00, and that was added to my new offer to pay off. My money was in my account on Monday. 

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I wasn't sure which one either, so I gave both to look at? They've received an offer and accepted it, but sometimes, on the weekends, especially late Saturday and Sunday, they might see the funds till Monday. My last offer was around 7/8 p.m., and the deposit was Monday. But I could tell because my loan amount changed to the new one, and my loan circle changed to the new amount and zero paid. Also, in previous loans, I rolled over 800.00, and that was added to my new offer to pay back. I wasn't sure either, so I gave them all places to look. Lol 😆 😂 😅 

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Congratulations!!!! It's so nice to see people post they received an offer! There are a few that went on vacation for a week or 2 and didn't know how it would impact them. Your a great example! Thank you for sharing! 

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Just received a loan! 

Finally! Just wanted to let everyone know. Much larger than the last loan.  Very happy. Slow months till December for me.

Oh, btw...I sent the info in and bam it's in my account! Ty Square!

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Awesome! GREAT NEWS!! Hopefully more will come through! 

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Yessssssssss! About 20 of you need to get funded!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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Congratulations!

 

Busy weekend with lots of processing. Let’s hope it keeps up.  

Good luck everyone. 

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Congratulations!!! What were your metrics,  if you don't mind?

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Square Champion

Congratulations!!!!! So glad to hear this! Let's keep this rolling!

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Congratulations! Were you completely paid off?

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Congratulations! Well over due! Let's keep these rolling!

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Finally got a loan offer after waiting for almost 3 months. Was 100% paid off and in food industry. It was 1,200 less than previous offer

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SUPER CONGRATULATIONS!!!  You have been paid off for almost 3 months?  This gives me hope as I have been paid off for 2 1/2 months.  May I ask what industry you are in?  I am in the restaurant industry.  

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Food also 😋 

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Hey! You still got one! Congratulations 🎊 

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Yay! That’s awesome news! Congratulations! Send some positivity our way! 🙌🏽🙏

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