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!

[Healthyketo]

Mine updated earlier than normal today and I was trying to check it a while ago and the loans section was gone.🤔 

[PFS36]

Oh wow! They are definitely making changes. 

[brown17]

Thats what happen to me yesterday and i got an offer...

[PFS36]

What happened? Loan disappeared or didn't update til later?

[brown17]

I updated as usual.then loan dissapeared .  I have noticed my loan screen not updating since and no payments being taken out of my sales.    Wondering if there are some issues going on 

[Twpchair]

No, mine does the same on weekends. My circle either disappeared or full, and Saturday night and Sunday, no money came in. But in my loan section, my previous loan was paid off. So I knew everything was OK and approved, but late Saturday and Sunday, I've never had a deposit till Monday it was in my credit union, and then I got all my papers. But look at your previous loans, and if this one is paid off and you're not getting 12% or whatever your percentage is, that's normal for me too until Monday night. A few tricks I learned from others to know your approval without "formally" approved on the weekends. My Thursday loans are boom and done. Not the weekend 😕 though. 

[Twpchair]

Ughhhhh,  I don't want to get any hopes up, but can I say  @brown17 ditto. There's been missing info for about a week now, but I haven't seen or heard of any updates or are they  working on it 🤔 my last approval Saturday my loan part was gone on Sunday it came back full circle and zero paid. So even though I wasn't officially approved and no money, I knew it was, and not much happens late Saturday or Sunday. Monday morning, the money was in my credit union, and then the paperwork came flying in. I did accept that Saturday to make that clear, just the paperwork and normal 15 approval didn't come till Monday, but I knew when my previous loan by then 94% paid off was gone. The loan offer at 69% I did not take. It's our busy time until Christmas, and I hate to lose 31% of the new offer to pay back the last one. If I need it, I myself like to be in the 90s so I get more of my new loan. I have a revolving line of credit at my credit union I use for emergencies only. I hope this is your case. Keep watching your loan circle and see if it comes back and normal or if it goes to fully filled in? You can also check your previous loans and see when the last one was? Good luck I'm pulling for you!

[brown17]

Oddly my loan was approved a deposited within 5 min but the circle is stuck on your money is on the way....

[Twpchair]

I'm a Saturday loan person and first look at your bank, but from what I was told, ach deposit didn't go through on the weekends.  My last one was a Saturday everything done, and Monday morning, it was in my credit union, and on Monday afternoon, all my paperwork from Square came through. With Monday being a holiday, I would assume it would be Tuesday.  Again,  that's just my experience with Saturday loan offers. I've looked back, and I tend to get offers Thursday and Saturday for the last 10 yrs? Maybe someone else who gets Saturday or Sunday offers has something else to add. 

[PFS36]

2pm cst and still haven't updated on Loan Dashboard.  

Anyone else had this issue?

[Tyconcrete]

Mine always update at different times  never same anywhere between 1 to 6 pm so not too sure. I hope you get something. Have a wonderful weekend 

[Twpchair]

I'm sorry, I'm up north and have horrible service! Yes, multiple people are posting daily. Either the metrics are missing or the loan section isn't there or didn't add in their last couple of deposits. I mentioned something in the back, so hopefully, they can look into it? So far, knock on wood mine has been ok. I usually update 1-3 pm a few times it was 4 pm but was accurate.

[PFS36]

It finally updated,  but no loan. I'm at 93% but volume is at needs work.  No offer.  We're opening our new location this Wednesday,  God willing.  The loan will be paid off in a day or two.

[PFS36]

They need to go on and give you a triple sized loan just for the waiting.  We're praying for you 🙏 

[Twpchair]

Hmm, multiple people are saying the same thing? I'm wondering if they are working on it? I looked at the board of items getting fixed or updating, and I didn't see anything about it? Not unless someone didn't report it or it's a new issue 🤷 

[PFS36]

7:58a cst and still no update since the 29th at 4p. Wonder if they kicked me out of the Update Club? Lol

[Twpchair]

Yeah,  that's not normal to go that long without updating I wouldn't think? @Minion have you heard of anything going on with metrics or loan section getting updates?

[PFS36]

It took 2 days to update. That's why I don't trust the metrics.  There's definitely a glitch in the algorithm.  

[Twpchair]

I know customers service is hard to get through the script response but if you tell them I am NOT asking about a loan I NEED tech support please 🙏 I don't know if it would work or they can look and trouble shoot it? The only way I have luck with customers support is kinda stopping them so very nice and calm and tell them hun I am sorry but I don't need your help I need tech support please it's very important. I think one, they are happy you aren't asking about a loan but need to just be transferred they are usually more than happy to get you there fast. Yours would drive me nuts, honestly. I watch mine, and I want to know what % of new customers came in during the weekdays vs. regular. Were they using cards or cash? How can you days behind or not at all. That's a tool to help us and it isn't helping you and it should.  Good luck! 

[Minion]

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@Twpchair wrote:

Yeah,  that's not normal to go that long without updating I wouldn't think? @Minion have you heard of anything going on with metrics or loan section getting updates?

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Sorry @Twpchair   I am slacking on the boards here.  Between business and trying to get my moms new home finished up Its been hectic. 

I haven't heard of anything with the Square loans being worked on updated at all. But I'm also a person though that never cared to check for it.  I always felt superstitious about that in a sense.  Like the more I check it, the more I would have to wait for an offer. Tt was always nice just to log in one day and see the notification.  

[Twpchair]

Thank you,  I wasn't sure who was doing the tech support stuff or updated on it? I have not seen I report or anything in the back in about it. Good luck, especially with moving your mom and housework! I've there 2 years ago! I'm done moving 😆 🤣 😂