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

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Nope. Not I. I spoke to them. They said as soon as square verifies my new account that I linked up with them, I’ll have the funds deposited the same day (if square verifies it at a reasonable time that is).  But that can be anytime between today and Monday. I’ll keep you posted

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Hopefully  it tonight or tomorrow 

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What does it mean if the dashboard haven't updated since the day before yesterday? 

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Still haven't updated today. Weird.... Last update was on 10/9. 

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The same is starting to happen to me.

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Square Champion

Are you processing every day? If it keeps up I would try to reach out to @Sammie_C and see if she can look into yours and the few others grouped together here not updating. I did receive 2 different messages this past week about experiencing technical issues and they were working on them. What or where the issue was they don't say. But Sammi can at least look into it and get you back to working. Good luck!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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Square Champion

Did you process or swipe cards that on those days? If so I didn't get any reports of technical issues they have been working on. I can usually check mine by 3 pm EST and im almost like clockwork from 1-3 pm daily. The only time it's later is if there has been an issue with the system. Keep an eye on it and if it goes another day or 2 and nothing is changing tag Sammie_C and she is amazing and check it out. Is your loan part changing or going down with sales? 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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Just got a loan offer from square for 4500 83% paid no instant approval this time

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Congrats! Still waiting on my approval 🙏 hopefully by Tuesday. 

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Square Champion

Yeah, I just told the other weekend one. I never moved until Monday but that being a holiday im going with Tuesday. I could tell though if it was moved along though. Go to your loan circle and yours was completed and a full circle and right under it is was your previous loans look there and see if your new offer is there as your soon-to-be loan. It worked for me every time as I tend to get my offers on Saturday and nothing official till Monday but my metrics, my circle if I had or accepted at 91% was closed and 100% paid. Right under was my new loan amount minus the 9% it rolled over. 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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Is that similar to what you received in the past?

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Square Champion

Unfortunately, im a late Saturday night person for about 70% of my offers, and nothing moved until Monday. It might be Tuesday before things start moving im not sure how it works with Monday a holiday. Most people who fall on one said it is usually the next day. I look at my old loan and see if the circle is closed and then right under it should be the old loan rolled over into the new one and that dollar amount would be there. Mine would on a Sunday even though I wasn't officially approved. Then I knew ok they didn't need anything else or whatever all was good just waiting for an official back-to-work week.

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
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I was approved a little while ago! 🎉 

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Congrats!!!

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Yay im

so glad I checked my emails and seen you finally got an offer 🙏🙏 was offered back in July and now I’m at 60% ..waiting game to see if it’s gonna take 80% for an offer or sooner ! 

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Square Champion

🚫 stop don't tease me 😂! Congratulations 🎉 yesssssss finally! I am so happy for you! Let's keep this going!

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
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Yayyyyyyy!!!!!

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I don’t understand why so many people say “I am **% paid off and no offer insight” when has a offer ever been insight till you get the offer.   If you don’t like the way square does it go elsewhere, I understand we all want it the way it was when you would get the offers after 55% paid back and growing exponentially. 
Don’t get me wrong I want a offer and i am only at 63% paid back in 5 months, but I’ve never had a “offer insight” before I actually get a offer.   Best of luck to everyone 

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Honestly I think everyone is here expressing themselves as we all navigate a tough year. Most of us love Square and what they offer. The “insight” terminology used here, is really just that. People are simply saying they don’t see an offer on their dashboard, so the offer isn’t “insight”, because it’s not there to see. I hope people still feel comfortable posting, it definitely helps to have a community of other businesses owners when you’re going through tough times. 

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Square Champion

It is hard for some at first. They got so used to that guaranteed loan almost like clockwork for me it was always 70-75% for years. Honestly, it's been trending differently for about 4 years. Others don't realize that Square has lenders and stockholders that they have to answer to! If more people read the qualifications or requirements for being eligible for an offer the very last one says it all really besides the metrics! They are still lending every day worldwide but not everyone posts here about it. Good luck and hopefully soon for 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!
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