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!
I think mine is delayed because I went out of town Sunday-Tuesday, and then hit 75% on Wednesday. 20 loans in 10 years and I’ve never had to go beyond 75%. We’ll see what happens…
Good luck! Hopefully, they push some out faster! A lot have been on here a good month or longer!
> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor. If I helped answer your question hit the best answer. Thank you!
Sales have been great today and we had an awesome day yesterday as well. We beat sales for the week already we are up for the day & for the month all green metrics. 🙏 haven’t been updated today yet so I’m hoping that good ole algorithm picks me today! Good luck everyone waiting!
4th square loan paid off 9 days ago, $xx,xxx. On pace for Gross revenue exceeding $600k, all green and no offer…. Typically received offers around 80% for me..
waiting game with same generic response is horrible…
4th square loan paid off 9 days ago, $xx,xxx. On pace for Gross revenue exceeding $600k, all green and no offer…. Typically received offers around 80% for me..
waiting game with same generic response is horrible…
Waiting games are no fun, especially when everything seems to be going good on your end. WIth that type of revenue, have you ever looked in to a LOC with your local bank, or a similar bank that offers even LOC.
I realize Squares loans are "convenient" but just an option if you haven't looked into it much while you are waiting (hopefully soon) for an offer.
I’m speaking on behalf of several of us food service businesses that have been completely paid off for a while already and haven’t received an offer. The offered are trending higher percentage paid back 80-90% but a lot of us have been completely paid off
As you can see, it's not just you. Unfortunately, it's been a very slow couple of months. Hopefully, things will pick up soon! Good luck to 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!
Fingers crossed something breaks soon! Good luck to you and everyone waiting!
> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor. If I helped answer your question hit the best answer. Thank you!
We are now post 15 days paid off from 4th loan. Process over $350k CC. All green and have always been! We are up over 2,000% YoY and still no offer to date.
however, in hindsight without having to pay those daily fees for loan repayment increased the rain day fund. We can still accomplish our goals however instead of instant gratification for some plans we just have to wait it out to build up the funding.
