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!

[MayaP]

Hello @amikel2014,

Thank you for reaching out and sharing your experience. It's understandable to be concerned about the delay. I am looking into this! 

[Twpchair]

Thank you so much 💓 I looked through all my past loans and fortune, and I've  never been asked for additional information since 2012 and the pilot program I believe 2014? That's the closest I could find. Thank you 😊 so much again. Unfortunately, we most business owners don't know YOU  can't give out personal information on a public forum. I truly appreciate all your support and encouragement. 

[MayaP]

Glad I could help! ☺️

Our team did state they will be following up with you @amikel2014! 

[Twpchair]

You and everyone else thank you so much 💓 💗 

[ls725]

Could you have them look into mine as well please.

[Healthyketo]

Can you please look into mine almost a month paid off I’m working my fingers to the bone to try and trigger an offer 🙏

[Jjpainting]

I just came on here to see if you have had any luck yet. This is ridiculous being a month paid off.   There’s got to be some kind of und underling issue with your account that no one at square is possibly even seeing. I mean, how many loans have you had?  And if I remember correctly, you don’t have anything negative on your account like chargebacks 

[coolcoffeecrumb]

Can you look into my account? I've been paid off since June 8, 2024. All metrics are green.  I'm very desperate for a loan. 

[amikel2014]

Thank you!!!  It got approved and deposited 🙂

[Twpchair]

Yessssssssss! Thank you so much 💓 for the update! I am so happy for you!

[Twpchair]

You are amazing! Did you see? She got approved and deposited! Thank you so much 💓 for all you do!

[MrBond705]

Hey hope all is well. I paid 85% of my loan please look up mine as well.

[Lou8]

Hi @MrBond705 and @Swain thanks for posting here.

Since we don't have access to account information on the Community, I invite you to contact our Square Financial Services Team directly if you have any questions about your Loan. They are available at 1-855-700-6000 Monday - Friday, 8 AM to 8 PM CST. 

[Swain]

Can you look into mine please 

[locksmithnick]

Little piece of info to add; I asked my Dad, who currently has a Square Loan offer in his dashboard (he’s 88% paid on his current) if he has the SQ Credit Card and he does as well. So I think that Card + Loan rule may apply to newer accounts or something. 

[Twpchair]

I'm going to ask in our other group if that's the case. I know when they first came out to people who had both? I don't remember getting any info that going forward you could only have 1?

[Twpchair]

That could be because I'm getting mixed answers in the back as well. I sent a direct message to my team leader about it. Are people who aren't getting an offer now that are paid off? Could they be in line for the card option 🤔? I'll ask that, too. 

[PFS36]

It makes no sense . Almost like us restaurant folks are put on the backburner lol

[Twpchair]

I don't think that has anything to do with honesty. I don't. We are watching the stock market crash, and 401s are just about gutted. The economy is not stable at all right now, and it hasn't been for a bit. All lenders and banks are holding tight and watching if the Feds raise the rate or let it ride out. The economy has got to get better and just get stable, and lenders and banks will start to ease up. We got this far, our doors are still open and we can do this!

[GlitzyCow]

I’ve never even seen a card option anywhere on my dashboard. 

[Twpchair]

I believe you only will if it is offered to you? I don't believe there's an option to apply. It's kinda pre-approval, and then it would pop up. I'm trying to get a straight answer and just waiting. Some are saying it fizzled out? I don't know for sure. At one time they talked about a line of credit instead of loans and everyone liked that and nope didn't happen.