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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A person from pipe actually called me and asked me to send the info by email.

Has never responded back since yesterday morning. I sent an email back saying to cancel.

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That's strange. They wanted my square info plus my actual bank info. 3 months of statements etc. I decided that it wasn't for me. Especially when the plaid program popped up and it said my account info wanted me to change my password. I've used plaid a lot, I've never received that kind of message.

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They called me and wanted all kinds of documents and also explained that when we take a credit card payment it goes into their bank they deduct their fees and redirect the payment back to Square. I find that worrisome and feel like i could be waiting on money for days if there were any kind of glitches. I’m sticking with Square loans. They may be difficult waiting to be renewed but at least the process is simple. 

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The question is.... Will it affect Square offering you a loan?

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Message 1978 of 2,705
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Did you hear anything about pipe loan effecting square loan? 

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Message 1979 of 2,705
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how do I find Pipe?

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Message 1980 of 2,705
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Quick question for you. Once you got your loan funds how was it when it comes to transferring your daily sales out of square ? Like if you hit instant transfer how long did it take for your funds to go into your bank account after having to channel through pipe so they get their percentage for the loan ? 

Im waiting for square to complete my bank verification it says it will be completed by Tuesday. Hopefully pipe can deposit the funds after square has successfully connected the bank account pipe gave me to connect to square. 

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Message 1981 of 2,705
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You are heaven sent !!!! I just connected my square account to pipe and got an instant offer of 13,000 !!!! Wow !!!! 

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Message 1982 of 2,705
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It would approve me 😞 

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Message 1983 of 2,705
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You mean wouldn’t?  Mine is pending. Says waiting on my first revenue payment and after that is verified, the funds will be send to my account so we shall see 

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Message 1984 of 2,705
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Just did mine and I was approved for $4600!! Completely shocked cause it’s very much needed! 

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Can you help me with the info to find it?

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Message 1986 of 2,705
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www.pipe.com

 

Im waiting on verification from square just like all the others hopefully it gets approved 🙏

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Message 1987 of 2,705
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thank you!’ it says it’s assessing me now 🤞🏽🤞🏽🤞🏽

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Message 1988 of 2,705
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I didn't get approved  but at least they did contact me so .back to waiting on square  at 90% 

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Where was the phone number located at when they called you?

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I want to say Georgia I believe that's where it was from

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I applied but it's just been reviewing the business information for the last 20 minutes 

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I’m basically just waiting for square to manually verify that bank account. Once it’s done verifying then I can transfer $1 in there so they can see it’s linked. Then they transfer the loan. The loan fee is basically the same percentage as square so not terrible  

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Has any gotten funding from them yet deposited into bank yet if anyone has applied 

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