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!

586,508 Views
Message 1 of 2,705
Report
2,704 REPLIES 2,704

Finally got an offer at 92%. Offer is 1/3 of my previous loan with the same processing $ amount but fewer individual sales. Gonna let it sit for a few weeks and see if it improves.

3,825 Views
Message 253 of 2,705
Report
Square Champion

Let us know how that works out if you don't mind. Others have been debating the same thing, and I have yet to see any come back and let us know if it went higher or lower than the first offer. Good luck to you.

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,096 Views
Message 254 of 2,705
Report

Just got an offer last night. I manually paid off my last loan 2 weeks ago. Offer is less than half of the last one but, if I take any of it, I'll likely take only half of what's been offered.

3,357 Views
Message 255 of 2,705
Report
Square Champion

Congratulations! Unfortunately, we haven't seen too many with double the previous loan amount. Most have been around the same or less, im just happy to see it moving! Thank you for keeping us posted.

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,120 Views
Message 256 of 2,705
Report

Congrats to everyone with offers! 

 

I'm seeing some of these larger ooffers I'm sitting here I'd be happy with 5,000-9000 which is what mine have all been in the past! I'm at 82% paid here's hoping g 

3,098 Views
Message 257 of 2,705
Report

I'm at 86% should be at 87 tonight less than 10,000 left on a $78,000 loan no offers in sight and no we would get one before 80% so it is what it is at least I'll be done paying it off

3,031 Views
Message 258 of 2,705
Report

I saw that too 

I wonder what that means 

3,561 Views
Message 259 of 2,705
Report

It came back.  No offer. 

3,558 Views
Message 260 of 2,705
Report

Square has been through a lot of changes this year it seems like. I am about to say my Fairwell to them completely. I have had numerous loans, paid off early, never late, stellar progress and no loan in site. Need Improvement on my volume?? Their algorithm is complete nonsense. I started using a secondary platform for our everyday sales. I told myself if I didnt get the loan offer that I feel deserving of after years and years of commitment to square with the volume and account status that I would pull out fully and move on. In the final week and if it doesn't come we will be leaving the square community!

3,339 Views
Message 261 of 2,705
Report
Square Champion

I'm sorry to hear that. 😔 I know we get used to something, and boom, it changes. I jump on multiple other pos sites and reviews, and they are all saying the same thing.  A few were very upset as Reps promised them immediately a loan, and it doesn't work that way. I read their loan section, and it is 6mths - 1 yr of establishing a business relationship and how you process and it's history and they went from 55k square loans to 1k loan. They had to work their way up just like we did 10 plus years ago. They were devastated. I never would tell anyone how to run their business or who they should use. That's your decision, period! I just wanted you to know it's not just square pos have lenders to answer to, and if the economy, stocks, and interest rates aren't steady or going down, it affects us too, unfortunately. I wish you the best in your tough decision. I'm old school if it ain't broke don't fix it! I know with Square I swipe that card and my money is there about 5:05 pm every day. And I learned a long time ago that reps promise the world and boom gone. The grass might not be the greenest right now but I do believe it will loosen up. 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,064 Views
Message 262 of 2,705
Report

I feel the same way. I have been with square for years and have had over 10 loans with them 

This just seems ridiculous at this point 

3,381 Views
Message 263 of 2,705
Report
Square Champion

It does, and I understand that. I could guarantee an offer at 70-75 % since last June I noticed that the trend was changing and it hasn't changed. Most are higher percentages paid back or completely paid off before the offer comes in. Right above your post, @TheRealChipA said it best we can go off of. There's a lot going on behind the scenes, and things need to calm down and stay steady. Hopefully, it will loosen up soon. Good luck to you and I hope an offer comes soon to so many waiting. 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,143 Views
Message 264 of 2,705
Report

10:41pm CST and dashboard still hasn't updated.  

3,579 Views
Message 265 of 2,705
Report
Square Champion

Hmm, mine was 30 minutes off yesterday 🤔 on a holiday weekend? I'm not sure if anyone has responded, but I reached out to see if they are working, updating anything going on with metrics? But if 75% are OK and 25% isn't working right or some not at all. That doesn't sound like an overhaul of work being done imo. I'm up north and barely have a bar. I'm not sure if I received a message back. Hopefully,  yours will kick in.

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,099 Views
Message 266 of 2,705
Report

Good to see many more people getting an offer come through, unfortuanty two months at 100% paid off and still nothing here ! hoping for a miracle at this point 😂 

7,249 Views
Message 267 of 2,705
Report
Square Champion

I know I would love to see this board full of offers! Too many completely paid off and waiting. Good luck to you and everyone waiting! Please keep us posted if you don't mind? 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
6,920 Views
Message 268 of 2,705
Report

My account hasn’t been updated since 9/2/24 is anyone else in the same boat?

3,222 Views
Message 269 of 2,705
Report
Square Champion

No, problems here at all? That's a long time to go! Have you reached out to anyone? I know others have been noticing issues or delays, but not like yours. @MayaP what is the best way to do this? Call customer service and ask for tech support or email tech support directly? Thank you 😊 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
3,116 Views
Message 270 of 2,705
Report

Update from the UK paid off since April 18th still no offer. Had an excellent week after a dicey summer (still up on last year mind you!) still can’t see my metrics, still waiting………Square has zero answers and is nothing but vague but yet has made a nice sum from my transactions and add ons. It’s a love hate relationship at this point.

2,971 Views
Message 271 of 2,705
Report
Square Champion

Since last summer here it's been hit and miss. It does get frustrating when you have been with Square for so long and I have as well. We got used to a guaranteed loan offer at 70-75% paid off. Now 91, 84, 81, and then 69%??? Nothing different but up in sales. I have reported multiple times about metrics not working for months for some people. With you, I can't tag in the Mod from the UK. I look at mine daily and like clockwork 1-3 pm updates. Do you know who the Mod is on your loan page? If not you should be able to scroll up top and on a pin note you will see it highlighted. Screenshot no metrics and make a post and @ who it is and tell them you need tech support, please.  Good luck with everything going on. I'm sorry you are having issues going on over there. Hopefully, this helps!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
1,951 Views
Message 272 of 2,705
Report

Gutted, was hoping this would be available in the UK but nope. Oh well good luck to everyone else 😊

2,755 Views
Message 273 of 2,705
Report