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!

[BodyInBalance]

I finally received my deposit on Tuesday night after getting an offer Saturday night. I've always been approved within 10-15 minutes even when most of my offers have come on a Saturday or Sunday evening.

[Parisbarnes]

What percent? 

[BodyInBalance]

Somewhere between 76% and 77%.

[Parisbarnes]

May I ask how much bc I’m in all green cc processed 19k & at 78% nothing 😞

[BodyInBalance]

Sure. The offer I got was a little over 40K. It wasn't much over my previous offer but it was more.

[Parisbarnes]

Congratulations. I normally didn’t go over 76% but now at 78 and nothing. I need mine by Sunday lol

[BodyInBalance]

Previously the highest mine ever got was 69 so maybe yours will pop up in a few more percentage points!

[Parisbarnes]

I pray thank you ! 

[Parisbarnes]

Have anyone received loan offers today ? I’m loosing hope ! 

[RobynR]

Hey @Parisbarnes, I went ahead and merged your post to an existing thread where other Square Sellers have discussed this topic as well. We merge duplicate conversations together to keep like comments in one place, and to make it easier for others to find the thread in the future. 

[Solstice]

Still nothing 😞 

[Parisbarnes]

What time do offers come in  ? 

[Solstice]

Mine have usually been between 12-3pm but some have posted that it’s anytime 

[Parisbarnes]

Not me ! At 79% wby? 

[Solstice]

Almost 92% 

[mydpins]

No offers yet, I am at 72% paid off 

[Twpchair]

Hello! Prior to the holidays, we started seeing more and more in the '70s-80s! Hopefully, soon. 

[Twpchair]

Pretty slow this week and last week, unfortunately. The holidays tend to slow things down a bit. Hopefully, by the end of next week, it will explode in here! Good luck

[Twpchair]

In the last couple of weeks unless I missed any I believe I saw 2 people who that posted they received one. 

[VanKalkerFarms]

@Parisbarnes What is posted here in this thread is a tiny percent of a percent of the activity that is happening with Square Loans.  Every day over 1,500 loans are started and the data isn't there on offers but presumably it's over 2,000 as there are lots that never take Loan offers, it could be even double or more as the percent that take a Loan offer isn't a public metric that we can see.

So there is always way more Loans starting than the 1 or 2 that post here a week, so don't let that get you down.  Most Square users don't even know this forum exists. 

[itisnotjustpiza]

We are still waiting much like others with 100% paid close to almost a month. Today I checked after we closed and all in green. But I did notice it shows zero processing for the day. I believe it was showing processing as our day went on earlier. It doesn’t always seem to be accurate, keeping up or sometimes just glitching?  Found it strange to be there and then gone.  🤷🏻‍♀️