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]

THATS AMAZING NEWS! Thank you for sharing this gives me hope! Praying for a lot of us that have been waiting for so long!! Congrats! Hoping for the best!

[Koleen1234]

That’s awesome! Congratulations. What type of business do you have 

[PFS36]

Congratulations! Which industry are you in?

[kkphoto]

Wedding industry, photographer.

[Paulynne]

Do you mind sharing which item needed work?

[kkphoto]

Processing volume/card sales. Mine have been lower than last year.

[Paulynne]

Thank you, and congratulations!

[Robgrey]

CONGRATULATIONS!  Im currently at 73% paid back, by this weekend I should be close to 80%   

Looking forward to my next advance 

[cmeshine]

Was the loan amount greater than your previous loan offer?

[Twpchair]

Thank you so much 💓 for sharing please 🙏 continue to!

[Twpchair]

Yes, it's higher than the previous loan. Let's keep this going!

[Paulynne]

So it’s looking like you basically have to be paid off for a while to get an offer. Is anyone getting an offer with 70 or 80% paid off?

[PFS36]

I'm at 90% and all green.  No offer. 

[MommaRavs]

Fully Paid! And no offer. So sad for small business like us. 

[Twpchair]

I know it is. I really hope this breaks soon and lenders start to loosen up. Good luck to you, really.I know it's hard, and prices are just going up and up with supplies and inventory it all adds up way too fast. Please keep us posted it helps others to kinda gauge what is happening.

[PFS36]

At this point,  I think a few of us have a better chance at winning the lottery while getting abducted by aliens. 🤣

[Twpchair]

Yeah,  I don't recall ever seeing so many people paid off and no offer? I believe last week 2 people paid off and received an offer. Yet others 4/5 times a year 🤔 good luck to you, really, and everyone else paid off or not. I'm really hoping with all the factors not including you, but everything else is starting to stay steady, and the Feds indicated they weren't raising rates, which helps to open things up.

[PFS36]

Agreed! Hopefully we all get good news,  soon.

[Twpchair]

It is and I'm 😞 sorry. I really hope things start to open up soon and lenders will start to open up. Good luck to you!

[Twpchair]

Mine last 3 went 91% then 84% and my last one 69% ???? I went to look at my factors after a really busy 3 days running a sale and boom there it was. The only thing I can figure out was the sale, and a really big increase in sales triggered it? Good luck and fingers are crossed!

[Koleen1234]

I am at 75% 

Always had an offer come in and patiently waiting