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!

[PFS36]

On a positive note, once the loans come through,  most of us won't have a balance to roll into it. 😊

[Healthyketo]

🙏🙏 praying for all of us today! 

[PFS36]

It's definitely in God's hands . I pray you get one today! Business has picked up at our lil place and we're so thankful,  but a sq loan would put us back ahead. We had our vent hood go out, plumbing issues at our house, and this hot, Southern Summer has kicked our utilities through the roof. Not to mention payroll,  supplies,  food, etc...

[PFS36]

I'm hoping as quiet it is here, that everyone got an offer 🙏

[Healthyketo]

I wish! 😢 updated around two something no offer. Hopefully tomorrow we should have a big day tomorrow hopefully something will trigger

[PFS36]

We updated at 2p cst on the dot, and no offer.  88% all green metrics. 

[Bonzy2010]

updated at 1:36 ct no offer..hope you guy gets yours soon so the rest of us still have hope lol. the higher % you hit makes me feel like my 78% is way too low to be considered nowadays

[PFS36]

Yeah, the people waiting after completely paid off makes me think our wait is going to be a long time.  😟

[locksmithnick]

I got mine this week at 78%.

[PFS36]

I forgot about that! You sure did. Do you process every day?

[Bonzy2010]

oh nice! so maybe I could be in the new range then. Prior to this loan I always had one before 70% this current one was at 73% if I remember correctly so this 78% is currently the highest I've hit in 12 loans.

[jackiebee12]

updated at 2:36pm. no offer. 92% paid off. metrics all green. my weekly processing is up $1000 from my average weekly processing. I close on Saturdays 

[MrBond705]

Wow this crazy..

[MommaRavs]

Been with square a long time. Loans always paid off on time. No offers up to now. 🤔🤔🤔

[Twpchair]

As you can see, it's not just you. Unfortunately, it's been a very slow couple of months. Hopefully, things will pick up soon! Good luck to you!

[studio219ink]

I've decided I'm just going to pay off my balance. If i'm going to wait for another loan, I'd rather be collecting 100% of my money while doing so.

[PFS36]

Yeah, I've given up on an offer.  Just more money in our pocket once the loan is fully paid. 

[Twpchair]

I don't take offers all the time especially in the summer that's our busy season. Sometimes in the winter I will if needed especially in Michigan and how bad the winter is. But I do in the summertime put 10% away in square savings and that way I don't touch it. Come fall I buy inventory, sale items, whatever I need at the store. Hun, it's rough out there and unfortunately imo I'm not sure if we've hit bottom yet. That's why I watch the market and all lenders and they are holding tight and watching too.

[Twpchair]

That's all any of us can do right now. Hopefully, things start to give soon!

[BlueStarDFW]

Anybody ever gotten a loan on a Saturday? Or is it only M-F?

[Healthyketo]

I’ve gotten one on a Saturday and one as late as 11pm on a Sunday