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!

[Twpchair]

Yes, offers are still going out daily. For the last 6/8 months, it's been a higher % paid back to paid off. A few pop in around the low 70s but if you scroll up most are in the 80s now and waiting. A couple above you I believe was 84% and 83% and received an offer. Hopefully soon if you are paying it back that fast. Good luck to you! Keep us posted with your next offer, especially at what % that helps others to see if or what its trending at. 

[Hotbear1]

Hummmmm I’ve learn one thing about square they really don’t care about the loyalty of there customers at all we are humans and there will be up’s and down days but square will punish you for slow days or days u take off shame on square no matter how fast you pay back ur loan they really don’t care at alll

[Tailoredgent]

Finally done with the pipe application just waiting for funds to hit.

My last loan with square was 28k December 2023 of which I’m now paid 86%. I am just wondering what changes have occurred as my last loan was offered at 75% paid.

I have also had multiple, multiple loans with square. I wish they would give insight other than the offers are system generated. This way one would know what they can work on, all green metric lights and high portion of payback don’t seem to be the answer. 

[Twpchair]

Congrats on the Pipe application and getting some relief for a while. Ugh, if anyone on here understood how to figure out that good old algorithm the board would clear out fast! For months the % was trending high to paid off. Now, for the most part, it still is. A couple here and there every couple of weeks popped in the 70s range and received an offer. Hopefully, it will pick up soon!

[Sj1976]

Thank you! Because I saw your reply and you mentioned pipe, I filled out an application myself and got approved! I’m so sick of squares generic answers. Thank you!!! 

[Press_Studio]

Hi Taylor, For 28k loan do you mind me asking what your processing volume is for the year? Ive gotten 5 loans so far with square,  each time its been higher than the old loan or maybe a few thousand below. Im currently at $18,800 land 49 percent paid. 

[BeeBraids]

Just got the confirmation email from pipe about my approval and successful acct link, should be deposited in 1-2 business days it says. Still nothing from square I’m at 79% with no offer… all green metrics and early payoffs… I’ll update with squares offer whenever I get it. 

[Sj1976]

Congrats! Could be a while with square. I paid off in August (my 3rd loan) and still have nothing. All green metrics all the time. No offer. Filled out surveys, sent emails with generic responses and nothing. I’ve applied with pipe. 

[BeeBraids]

Oh man I really hope not… and hopefully your process with pipe is easier and more helpful than square has been… 

[Twpchair]

The surveys are great make sure you leave your telephone number first! Also under the loan part scroll to the very bottom of it to the happy and frown part! If you haven't already, fill it out and leave again your number! You can copy and keep posting it after you update or the next day! I see more people here at least that get a human call them back later that day or the next. The number didn't show up as a square but an 866 or 800 number so, unfortunately, you have to answer them. I have them all blocked right now 😆 good luck and hopefully, it helps!

[Lynix123]

We are paid off 86% of the current loan but there is no offer yet. Normally it updates 12-2pm but lately getting updated later like 3-4pm, can it be a good sign? Have you guys notice the change in update time before approval? 
Thank you in advance 

[CTC18]

Mine has also been updating later about the last week.

[Paulynne]

My account has also been updating later around 4:00. 

[Twpchair]

I've had mine go blank a couple of times. I'm not sure if it meant anything or just random. But I usually like clockwork when I update. The lag could be due to a big technical issue on October 26th that shut down just about everything for parts of the United States from couldn't process, to the tools you use for inventory to online sales and keeping them from orders to billing. I know I received multiple text messages but I was fine in Michigan as far as everything working. I am lagging as well. My deposit at 5 pm is the only thing right on time!

[Paulynne]

91% paid all green! 🤞🏾If I get this loan, it will be the greatest thing that has happened to my business to date. 

[Twpchair]

91% was one of my lucky percentages and a bigger offer!!! Here is hoping 🙏 the same for you! Also, thank you for sticking around and helping others along the way! Imo these forums are our best way to keep each other informed by just sharing our updates, frustration, and how business is going. None of us work for Square but I think we do a little better than the same script over and over. Thank you and everyone else who just shares their experiences. 

[Paulynne]

Yesssss to 91% being lucky 🙏🏾🙏🏾🙏🏾

[Paulynne]

I agree. Having somewhere to talk with people who are in your same situation, helps A LOT!

[Pecard81]

I am at 65% so I am probably light years away 🤣 5 months into to previous loan and all green.   I’ll let you all know 

[Paulynne]

You never know. Some people are seeing it in the 70’s again. 

[Twpchair]

This past month or so I have noticed more than the whole past year or at least the ones posted here. This past summer was high to paid off for a lot of people. I went from 91% my highest ever to the next one 69%