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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Non surgical body contouring 

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We had a really busy day today. 248% up from the previous Sunday and made it to 91% paid off. I owe less than $3000 at this point on my current loan. I always stay in the green but mine updated at 2:10pm central and still not eligible. 😫

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Restaurant...77%, on 12th loan, usually offered between 65-75% no square credit card..nothing yet with offers

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I'm now at 97% all green, no offer 😞

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Just to add some insight. It’s not just restaurants. I am in retail (women’s and men’s apparel). 14 loans with Square and normally get an offer between 65%-73%. I’m at 77% with everything in the “green”, and nothing has been offered. 

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No still waiting now I’m hoping to pay it off fast so o get all my profits 

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Sales way up at all locations (5 total). One has been paid off for months - no offer. One is 96% - no offer. One is 82% - no offer. Have two others. 71% paid and like 15% paid. Everything is green across the board in all five locations. Best sales we have had to date (7.5 years), and nada. 

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Still here, still waiting! Be nice to see some other UK based posters so I could compare what I’m seeing on my dashboard etc, I suspect it looks different to US based as I have no way to see when the last time the algorithm updated my account lie you guys do. Paid off since April on a 27k (first and only) loan which was paid back in 9 months and always way ahead of my 60 day minimum.

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No! Really need it 

i think i am in the same boat as everyone else 

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my updates have been all over the place too..between 1pm-5pm ct not really consistent so I asumme their system just do not have a standard time to run the update

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got it! thanks...so mines is all over the place...1 on a Monday..2 on Tuesday..3 on  Wednesday..4 on Thursday..1 on Friday..none on weekends

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This is why square is so confusing! Like the rest of the comments I am also ready for the next loan to pop through. 91% paid off. Like our 5-6th loan. Unfortunately I have tried to see what the consistency is with loans with square by reading all the comments there isn’t one. You can be 100% paid off or you can be in the 80% range and receive one. I’ll just leave my anxiety level where it is because obviously there isn’t a solution to any of it. I hope everyone gets what they are needing and all of us small businesses continue to keep on keeping on! 

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I thinks time for me to move on from square now!! 80 percent paid off i use to get offer at 70 percent. I think Clover is who i will be switching to once i pay this off.

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This is so crazy. 
I cant believe how many of us are waiting. Never in all my 10 loans have to wait this long 

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My loans page keeps saying  "Oh no, something went wrong. Looks like something on our end" 

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No good 

 

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So the waiting begins.... Hit 75% a week ago and now I'm currently at 77%. Last two loans came right at 75% this year and seeing other comments on here saying they don't get an offer until higher percentage is paid or loan is paid off is depressing. Business has been super slow in September and I could use a bit of a boost for new inventory. Finger crossed. 

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I Have paid mine since July. Everthing looks good and still nothing. Had 7 loans with them and definitely needing funds for extra capital. So sad that square is doing this to us. 

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Sitting at 63% paid off in 6 months on a large loan. I’ve received offers at as low as 62% but also as high as 84%. Typically they’ve been in the 70-74% range. Praying for a miracle at this point it’ll come in early against the current trends. I have so much inventory to order for the holiday season and I normally have a loan offer right at this time of year.

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Congrats for those who got offer! 
Do you guys get the offer when it’s usually updated or after updated? Thank you 

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Square Champion

I got an offer today. At 88% paid. The offer is $5300+ less than my previous loan. I don't think I'm going to take it. I rather wait and gain back the 19.5% of daily sales than to take such a small offer.

Orlando Perrone
Owner
Perrone Technologies: The Computer Shop
www.perronetech.net
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