New Square Loan in 2024 - Page 127 - The Square Community

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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Here ? May I ask what I’m looking for ?

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Click to view online not through the app.

Click loan details and will show you the time it updates each day

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Same. Finally updated and Nothing. Smh

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Hopefully, soon things will kick in after the New Year and get past all the holidays. Keep us posted!

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

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Thank you sooo sooo much ! You have been a great help.

also does it go off of daily sales?

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Yes, so if you process a percentage of your daily sales will be taken out at the end end of the day and the rest deposited into your account. If you don’t process anything that day then they don’t take anything from you or your bank. Square will send you terms and conditions for repayment and we are all different. Mine could be say 14% of daily sales and 60 day minimum to reach. We are all different and process differently. Just make sure you watch your metrics and your minimum loan date and make sure you meet it and then you will establish a great business relationship with square and as you grow so do your loans! Welcome and good luck. You have any questions or concerns just ask there are tons of us here to help.

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

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I'm sorry I read that wrong I apologize. I believe you were asking if the metrics not loans go off your daily sales. That would be yes to both. If you didn't swipe or close for the day and didn't process a card a loan percentage isn't taken out. Also, if you didn't process the algorithm has nothing to pick up till the next card you take.

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

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Just want to remind whoever is reading this, I can never find my last response so I just respond wherever.

As I said earlier, when I have an offer and do NOT accept it, the offer changes every 2 weeks like clockwork. For the first time in a few years, it did not change yesterday 😞 I’m not sure why but I’m at 89% paid off, owe around 2800 and still have an offer of 25300. I was hoping to see it go up yesterday (even though I’m really trying NOT to borrow again) but it hasn’t changed. Sales over the holidays were down so that might affect it. Even if the offer stayed the same, it would show up as a new offer on the Home Screen but nothing happened this time. Hopefully it’ll change today or Monday 🙏

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Any update yet?

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

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Well, that's the million-dollar question! Some people swear by it but usually get an offer that night. With the holidays everything will be slow. Are there any issues with updates? That I can check. Have you been processing regularly and that day it didn't update? Have you been updating like normal till now? If so, let me check with any issues reported.

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

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Merry Christmas everyone!

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Merry Christmas!!!!

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

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Merry Christmas!!!!
do they give loan offers on Xmas ?

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Not that I can ever remember after 12 years. Usually, the week between Christmas and New Year is pretty slow if I remember correctly it seems like late Wednesday -too early Friday were the most active. Never say never but going off memory that seems to be the trend. Good luck and keep us posted if something happens

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

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So do you think the will send loans out this week - the weekend or no?

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No one really knows… everyone is different and random… unfortunately

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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.

AS

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What percent?

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Somewhere between 76% and 77%.

AS

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

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

AS

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