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!

[BlueStarDFW]

Yea I usually get an offer between 70-75% 

I’m at 83 and all green.  No offer.

my dashboard usually updates around 1-2pm. Today it didn’t update until 630pm. But still no offer 

[PFS36]

I noticed ours has been updating a lot later this week.  Our processing goes to needs work every Wednesday because we're only open 3 days a week. Everything else is green. 

[Healthyketo]

Mine usually updates between 1-3pm and today it updated at 520. 🤔

[PFS36]

Same here. Something is up.

[Twpchair]

Mine has still stayed the same 1-3 pm. We are open for 7 days. In the winter, I close 2 days. I'll have to pay attention then.

[Twpchair]

Unfortunately, it's been rough as you see. Hopefully, things will settle down and get back to normal! Good luck!

[Healthyketo]

I’m speaking on behalf of several of us food service businesses that have been completely paid off for a while already and haven’t received an offer. The offered are trending higher percentage paid back 80-90% but a lot of us have been completely paid off

[PFS36]

We're at 87% still, but no offer yet.

[BlueStarDFW]

It’s a bummer. I know this is a nice service square offers, and they can do it at their own discretion, but the approvals are always so unpredictable. It’s like they’ve turned cash infusions into a drug habit. And we’re all just sitting around waiting on the next offer to hit 🤣

[PFS36]

Their stock is up, too.

[ls725]

I've noticed whenever loan offers have gone through their stocks were up at $80 a piece, they're now down to $58.. At one point Block Inc was at 200 something back in 2021, that's a HUGE dip.

[PFS36]

But, their earnings are up. Block is also discontinuing Cashapp in the UK. Looks like a lot of changes going on.  Now, this is just what I read the other day.

[Twpchair]

Square earnings and lending is up and has been year over year. But right now I think it just needs to calm down around the world and let the market level out and lenders can get back to lending! 

[PFS36]

Square could calm this side of the world if it would send me a nice loan offer 😀 😄 

[Twpchair]

😆 🤣 😂 I hear ya! I do have to say honestly, with all the people waiting for an offer on the whole, everyone has been pretty understanding, or they get it type thing. It's not you or your type of business. Lenders are holding tight right now. The market is going crazy, we still haven't passed last year's budget which has to be done by September! The next budget starts in October! September, we will know if the Feds raise interest rates or not? I'm hoping like last year, once September hit and the market was stable, the Feds did their things, and boom offers started moving great. Not that I don't like anyone but I hope you are all gone here soon (I mean that nicely 😉) Good luck to everyone waiting I truly hope it soon!

[Twpchair]

You are correct! Anyone can go jump on Facebook or reddit and look at all the other POS that do loans, etc. And they are stating the same thing! The market isn't steady. The world is on pins and needles right now, and it all comes into play. Waiting to see if the Feds raise the interest rate 🤔 I understand people are waiting and waiting and we will probably see a few here and there get offers. I just have a feeling until things calm down hopefully we can get back to business again! Good luck to everyone!

[Twpchair]

😆 🤣 😂 people are patiently waiting every night for little Jack to come around! At least you have a sense of humor! Honestly, besides that, there's nothing else we can do. It's like spinning that wheel and sees where or if it lands with an offer. 

[Healthyketo]

OH I HOPE TODAY IS THE DAY!  🙏

[PFS36]

We're all pulling for you 🙏

[Twpchair]

Pulling for all of you! So many have been waiting for a while. 

[Twpchair]

Ohhhhhh please 🙏 let that money roll!!!! 💰