Square Loan Decline -

Hello 

 

I was just declined for a loan because of an “associated account” . I received an email asking for additional information and I explained that I am not associated with that account. They declined me anyway. I have had several loans through square and always paid on time (or ahead) and most of the time in the green. Now I am so discouraged. I gave them honest information and I feel it wasn’t considered by the underwriting team. Is there anything I can do? 

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Community Team

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Hi @jessential 

 

Thanks for posting on the Seller Community.

 

A member of our team has reached out via email 

If you have additional questions regarding eligibility for a Square Loan, feel free to view our FAQ.

 

Feel free to reach out to us directly if you have any additional questions

Abby_M
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

This is a service email from Square Financial Services, Inc., a wholly owned subsidiary of Block, Inc. All loans are issued by Square Financial Services, Inc, a Utah-Chartered Industrial Bank, Members FDIC.

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@Twpchair  

@Abby_M 

@marielmt 


They did reach out via email but did not respond to my concern. It was a generic AI response that I see all over this forum. I have called several times today and basically get told they will “escalate” and “there is nothing they can do.” 

I replied that the real issue is being linked to another account and again was told there was nothing they could do . Again another generic email stating case was closed decision is final . Watch my dashboard for another loan. They are missing the whole point , this will effect me each time. 

To me this is very serious and should not be taken lightly. It so frustrating, this confusion is effecting MY business and that after several calls and emails  I have gotten nowhere. In fact the loans team cut my call off a few times. Customer support tried to help but until I get in touch with a manager that sees the real issue it won’t be resolved. 

Its really a shame, I have always been so happy with square until now.  It is also a shame that SQUARE shows no concern that I was rejected for a loan for an invalid reason. 

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I don't know about callbacks on the weekends and if they do or not. The actual loan department isn't (unless that has changed) call center still is I believe. There's been a lot of updates going on but those were the last hours I knew except for the callback. I guess it would be who it was calling you back. It's hard to get through to the right person/department and you fall under both. But I understand that your main concern isn't the loan you missed out on it is getting the account that is associated with your name now out of the blue off of your account moving forward. I would have thought myself tech support after the first couple of calls and no real answers to your question. They didn't help or couldn't help you with it? Hopefully, whoever calls back can get it straight. It's hard for us as well because we feel for you and I can understand and sense your concern as I would be in panic mode myself. When you see people like myself who either have badges or I write my information out. We are here to help with general questions and concerns. We lead people to the right boards and help in areas where our “expertise” is. Once it gets to people like you and went over all the general questions and nothing. It is time to tag in a Mod and honestly, we have great Mods who work in multiple areas, and here as well. 99% of the time when they say to contact us directly they have more information about your account and can see what is going on or escalate it like they did. It's going to be a long weekend and try not to stress too much but with a callback and 2 tickets out there they know that you are concerned about it and I really do believe that come Monday, someone will follow up with you. These 2 Mods are very nice and I am sure they did what they had to and passed it along where and to whom. These 2 are great I know it is hard when they can't give you a response here but that is for all of our safety and nobody needs to hear your personal information on a public forum. That's why they say contact us directly. Please keep us posted on Monday. Like I said my callback didn't come till 6pm with the time difference. Just try to focus on business and don't get all worked up. If you get frustrated hit me up and vent away. I'm married im used to it! 😆 Have a good night!

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

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@Twpchair 

@Abby_M 

@marielmt 

 

Thank you !!!! @Twpchair 

I am just exhausted from all this. For two weeks I watched my dashboard several times a day , hoping for an offer because i was getting close and could seriously could  use the funds right now. The offer comes and it was another 2 days waiting for underwriting. The underwriting team sends a few questions and basically ignored my answers. In fact didn’t even take them into consideration. After checking my email a several times an hour for approval for 2 days. I get the declined email and I was totally floored. I didn’t see that coming at all. When I see the reason I it took me by surprise. I go back and forth between feeling confused to totally feeling unheard. This is my lively hood and I trusted SQUARE with it. After my conversations today with the loans team and the blatant disregarded emails I just can’t believe it. I have been with SQUARE for a VERY long time, have always spoke highly highly of them and have always been a loyal customer. After this , I am very concerned with my future relationship with them.  My trust has totally been broken. I really hoped to get on the phone with a manger and it would be taken care of. Instead I spent  10 hours, going in circles and at times very disrespected. 
I see that orange “needs work” because of the declined loan and it makes me sick because I worked so hard to stay in green in hopes of an offer soon. I worked so hard to keep my account in good standing and always have. I reach to agents with questions often to keep that good standing. 
The underwriter asked my association I gave them a very honest answer and it blew up in my face. I know the account, what I don’t understand is why they associated  my account to it without my knowledge and how that associated account would effect mine there  is no reason for it. They refuse to unlink it and reconsider my loan.  The aloof responses via email and phone conversations really concern me with the loans team. The connection in question should never have affected my loan in the first place and it shouldn’t have been linked in such a way that it would effect my without my knowledge until now. My calls today fell on deaf ears with the exception of a few agents that basically had their hands tied. 

 

 I posted on here for help, but I see now the community needs to see that this can happen at the time you need it most. After being a long time ,loyal customer with ALL my transactions running through SQUARE I would have hoped to have been treated better than this. I am in a full costumer service business and every client  I have is valuable and treated as such. I think that is part of my frustration because that is not how I would treat a client in my business…..ever! 

You’re right , this is going to be a very long weekend… I am sick about this. I can only hope to get somebody on Monday that will hear me and help me get this settled soon. 

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@Twpchair @Abby_M @marielmt 

@Nicole 

@Square 

 

Well I thought this was interesting ! After doing some research, I feel SQUARE is using a AI Email Generator, to respond to these emails instead of truly looking into them or at least to weed them out. SQUARE I INVITE YOU TO PROVE ME WRONG ON THIS AND REACH OUT TO ME PERSONALLY ON THIS WITH GENUINE CORRESPONDENCE.  

 

I wrote a long email this weekend and sent it to the SQUARE , copied it and also sent it back to “Nicole” on the loans team. Exactly the same word for word. 

 

This is the interesting , the email I sent to the general SQUARE loans mailbox. I received a reply stating they did get my email and would reply shortly. BUT … in my email inbox preview shows the first few lines of the body of the email as a preview. The one I sent to the general email in the inbox” sample “ in shows this: ..

 

IMG_6972.jpeg

INTERESTING ? Because when I open the email , this is not there! It’s a hidden message in my reply that only shows in the preview not in the body of the reply. Hmmm? 

THIS IS THE REAL INTERESTING PART..

, the email I sent to the escalation manager “NICOLE” shows this ….

 

IMG_6973.jpeg

This was SECONDS  after I sent it , rejected! It shows this in my preview . But when I open the email …. Nothing of the sort is written there. Like another hidden message that only shows in the preview. There is no way. It was a very long, very detailed email of my findings this weekend on my account. It also doesn’t mention anything about my account associated with another account , which is pretty much what the email was about…. 

Anybody have a reason for this ? Do you think this just tells the agents how to respond so they don’t have to read them? Or it triggers the AI Email Generator to respond as such a few hours later, and they are not read at all? Is there even a “Nicole” ? 

 

After getting a huge run around on Friday… this is all starting to make sense now. No manager with phone access? That is crazy! Who has ever heard of such a thing ? 

 

 

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Why do my posts keep getting removed ? 

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I am weighing in on this  because I guess I am the associated account.

 

First I would like to thank  @Twpchair    for reaching out and helping her.  @Abby_M thanks for the posts referencing her getting emails and if she has questions.  Emails are clearly AI generated and if she asks questions they go unanswered. It looks nice to cover tracks on a post but nothing happens. I want your community to know this.

 

@Square  @squareloans, shame on you!

SHAME ON YOU! Make this make sense.

 

I want to start with the fact, in no way should my account be associated with her account or in any way should it  have affected her loan.

For no reason should my account have been referenced in questions directed at her about my company, and its revenue. My account is not her account. That is now an invasion of my privacy and goes against your own guidelines. It also goes against privacy laws. She answered those questions honestly and if the underwriters actually read them, we would  not be doing this and she would have the loan she is need of at this time.

My business had sales with Square last calendar year of $225,000 almost 5 times the sales of her business and my business affected her loan chances?

I listed her as a team member on my account. The only connection from what we can see is her name . She is not listed as an owner. She occasionally helps me in my office when I get backed up on paperwork. I DON’T EVEN PAY HER FOR THIS.  She helps when she can and won’t take money for it. I listed her as a team member to have access to my square, if needed. She uses a different email than her business email with my account. That’s it. In fact she is the only reason I am with square. She convinced me it would benefit my business, I was just fine taking checks from customers( at no fees) Now I am ready to take my money elsewhere after all this.

She informed me she has spent the greater part this week and last week on the phone, chatting and emailing to be come up with no answers how to solve this. She has created 8 escalation tickets to receive 1 single canned answer email in return. One! The loans team has hung up on her several times and customer support basically passes the buck back to the loans team. Thru have bounced her from team to team for almost two weeks. They refuse to tell her the connection and stated several times that even if I remove her ( and her should I ?)  it will not unlink my account, that is crazy. She has used square a very long time , I can’t believe this is how they treat a customer that has repeatedly referred them to others ( like myself).

In her adverse action notice , it states association with another account, that is it. By law they should be specific in that notice to the connection. Not only did they not do that, when she tries to get the information they refuse it. How is she supposed to clear this up if you hold the information? Why in the world would you refuse to give her the information?

 

 

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Hello, this is my 3rd time trying to reply to your message! 😡 I am not very happy with over an hour to post! First Thank you for stepping up and trying to help her. 2nd. I did all I could and then some out of box suggestions, once I heard about you! I am happy that she was escalated to the highest level and a fresh set of eyes to look into this. I knew she was stressed, overwhelmed and frustrated. Going forward people or owners should be aware of accounts associated with each other (if that’s the connection) but it is something small business owners and communities do that separates us from big box companies. We help each other out when needed! We don’t ask for money or anything but just helping a neighbor or friend.that’s a great thing IMO. I really hope this escalation works and gets her back up and going! I hope she keeps me posted after a week of therapy 😂 no, helping her brainstorm solutions I am pulling for her! I don’t work for square we just help out threads in our area of knowledge and then tag in a mod. Then they escalated it a couple of times. Best wishes to you both and I am so sorry this happened especially when she could have used an offer. Thank you again!

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

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I’m baffled by this myself 🤔 unfortunately, I am a business owner and just like you I can only offer advice anything I can think of that might be helpful and send you up further. I find it ironic how you stated without you there is no US! I tell this to our customers often as possible. They are what keeps us going and pushing forward. I watched as small businesses which use to be the backbone of America close up after 40 years and 2 generations and it hurts. If you made it through the pandemic and the period afterwards, you my dear can make it through this! Does it hurt yes, are you stressed out yes, if you didn’t see my responses earlier or they are not there I am only going off of Facebook and adding helpers to your account as I don’t have any here. But I walked you through the steps. One loan officer mentioned out of the many it had to do with your metrics. They change daily so double check those numbers daily and see if anything has dipped since the time you were approved and take notes, right down your questions, your concerns anything that comes into your head. I did semi copy and paste the meaning of the highest escalation and the rest I knew about. I don’t ever turn on my notifications during work but I will today and tomorrow and if you get stuck and can’t find where your 2 accounts are linked send me message and I will get it and start digging around to see if I can search it out. But I think the response to you about where to go in settings from Facebook should be around that same area. Good luck and keep business and family number one ok. You are one tough person and most would have caved. So hold tight and hopefully by Monday the go between will reach out and get you back on track! Don’t hesitate to message if you need help ok. 

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

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@Twpchair 

Sorry I haven’t responded but today I had a lot to catch up on. I tried to get this whole situation out of my head, but I am still so sick about it. RasIII and I looked over both accounts and this is all we could find so it must be it . 
This is what upsets me even more ..  

1. Like I said the request was so long ago and I didn’t think it was the issue because when he sent it to me , I remember getting on chat or calling @Square and asking if it will effect my account and they told me no. So I had no idea and was totally mislead by them. I had had several loans the same time as he has at its now an issue. 
2. His account is in good standing , he does have a loan but it’s current. He is in his slow season so his algorithms are down but his over swipes are nearly 5 times mine,  he mentioned in his input on his thread. 
3. It seems to me SQUARE bases so much on the algorithms and AI, not looking into the individual accounts. 
4. FINALLY … I am so put off by the blatant disrespect and handling of this issue with customer support and the loans team. All I asked for was more information. I may be looking at the wrong connection all together and they let me continue to beat myself up over this. I just asked for a simple conversation and somebody to help me troubleshoot this . Instead every request was refused and ignored no matter how I approached it. They said they can’t disclose the reason beyond an associated account. Associated how? I still don’t know. 


Twpchair, your compassion has been well received by me and I appreciate all that you have done. I can’t thank you enough for all your research and continuing to reach out. 

SQUARE , you broke me, my efforts fell of deaf ears and I am so disappointed in myself that I hoped to be treated like I have treated my customers for over 30 years . I guess that is why I have been at what I do so long because I would never act like I was treated. My suggestion to you is please don’t add “if you have any additional questions or concerns let us know “ to your emails , because that is very misleading. 

 

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Square Champion

I am so sorry. Hun, you have been through so much and sometimes you just need to step back and take a break. You are spinning yourself in circles and unfortunately, you’re not going anywhere but more frustrated. When mentioned that their final decision was it as it escalated to the very top. That was final. The other connection imo has been addressed. The last 6-8 emails you shared no mention about that issue only your metrics. As small businesses we strive on customer service and our customers. I am not saying that Square is perfect or things could and should be communicated better.  When technology has more and more to do with running big companies you can loose some of that human interaction. It’s not just Square I spent 5 hours on the phone yesterday trying to explain to an AI chat I have 3 accounts and need to pay them and your system is down! You talk about pulling your hair out. IMO you are NOT going to get a system to look into anything any further because on their end they have and the system has picked off the metrics and area you need to work on. NO mention of anything else. This is good hun. Right now I know it doesn’t seem like it. And how long before you are picked back up no clue there is and I don’t need to even say it. It does, it will drop off automatically. There is no timetable for it. Whether it is quarterly or monthly that is one that truly I can’t find out a time frame but tends to go case by case. So if you work on wait the loan specialist emailed you and bring those numbers not even to good but great! This is where things that have a hold for multiple reasons and different issues can drop off sooner rather than later. Lending on the whole was extremely tight and now it’s starting to feel a little different. Loan boards are blowing up again and this is all great signs. So, for your piece of mind and for you to receive another offer. Time to do a reset and push forward and don’t look back again. I heard your story and you are strong and tough. We made it through Covid and the aftermath of the lockdowns and we are still open and turning the corner. Get back to mindset and get to doing what you do best and that is running your business and making the best of it. If you continue down this road you are going to just get the same results hun. They have moved on, tech support did amazing for you and that is done and you could see it yourself. Customer service and the highest level of loan department not 1 but 2 made their decision and stated it was final and your issue was resolved but it’s your metrics that matters the most. I have no problem helping you bring those numbers up and not to good but great! Growth is huge and that among average sales up, price spent per swipe up and new customers all not just up but let’s get them 25-35% over previous months. Zero, disputes,chargeback's nothing negative! That’s how you increase your chances of a higher offer. Good, maintaining or steady gets you the same offer or lower. Your business isn’t growing but your maintaining is all ( not you) just in general okay. That’s why Square updated their wording with when or how offers work. The higher the % paid back is less rolled over and I like this. I wont unless it is dire take an offer at 68/70% and loose 30% of my new loan. Almost half gone. I want the the most I can get! I kick in those numbers around 80% and run sales and numbers go up and up daily. That’s what you need to work for and get it! You can do this but you need to start doing what you’re the best at and that is your baby your business. Take a step back and maybe a day off mentally and physically and just relax and get a game plan in your mind for pushing yourself forward and keep pushing. I would love to hear your journey and numbers along the way and watch for that first offer. Good luck and take care of yourself first ok. 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
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Jumping back in on this …Well, they wore her down but I decided to jump in. I couldn’t believe her stories of what was happening . I contacted square on chat and got a tougher than she is comfortable doing . She did get a call from an agent , but was still brushed off and promised a call the next day , that never came . 

 

I filed an escalation on the 19/th to be told 2 days later from a noreply email that case was closed two weeks, that I opened two days previously . I has to respond through support , because of the noreply email. Immediately, emailed , case was closed . 

Went to chat and insisted an another escalation . Got one email that asked her to call . She did , runaround again . Then Brandy emailed  that she would be calling today ….no call . She tried calling again , a conversation full of robotic answers and so sorry , I understand your frustration comments . 

In all my years of business, I have never witnessed such a lack of communication , so many people that just apologize and move on.

Pathetic !  

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