Why is it taking so long to get a new offer?

I’m at 82% it’s been about 4-5 business days. When will I get another offer?

4,163 Views
Message 1 of 29
Report
1 Solution
Community Team

Solution

Hi @KenDaBarber66 

 

Thanks for taking the time to reach out to us.

 

New offers are not automatically extended when a certain percentage of an existing loan is repaid. Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete.

 

If you made a prepayment it can take up to ten business days for payment confirmation and for your business to be re-evaluated for a new offer.

 

We routinely review eligibility of our sellers for Square Loans. If your business becomes eligible again, you will see loan offers in your Square Dashboard.

 

Please contact us directly if you have any other 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.

View Solution >

4,005 Views
Message 23 of 29
Report
28 REPLIES 28

Darn right 

1,082 Views
Message 22 of 29
Report
Community Team

Solution

Hi @KenDaBarber66 

 

Thanks for taking the time to reach out to us.

 

New offers are not automatically extended when a certain percentage of an existing loan is repaid. Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete.

 

If you made a prepayment it can take up to ten business days for payment confirmation and for your business to be re-evaluated for a new offer.

 

We routinely review eligibility of our sellers for Square Loans. If your business becomes eligible again, you will see loan offers in your Square Dashboard.

 

Please contact us directly if you have any other 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.
4,006 Views
Message 23 of 29
Report

Sitting at 98% everything green, still no offer

903 Views
Message 24 of 29
Report
Square Champion

Ugh, last week was so good getting offers, and I am still holding hope as Wednesday -Friday was the hottest days. Don't give up hope and hold tight ok. We all know it's trending higher to pay off. Metrics are great it just takes the algorithm to pick you up. I know we get used to something and changes and it is a shocker but its a shocker when you get 100%?of your money, not 30% less. Good luck im watching the 5 of you closely. 🤞🤞🤞

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
901 Views
Message 25 of 29
Report

Well finally got a offer at 98%, the offer was smaller than my first one lol this is a joke at this point I want to use a different merchant processor.

859 Views
Message 26 of 29
Report
Square Champion

Ugh, I am sorry to hear that part of lower. You are the 2nd one. It is kinda baffling as it has been lately finally higher. I asked if the other 2 were affected by the horrible weather in February. I know your metrics were all good before the weather ❄️. I am a trend-watching fool and for a good 2 months, it has been trending higher. Then March offers following bad weather and stores closed or customers just not getting out in it. Metrics took a dip in February but overall still up. If you don't let me know if you were affected by it. I would appreciate it. I am pushing hard for us as owners to be able to input closed due to the weather or 2 customers due to the weather which we can't control. Again, I was hoping to see higher offers continue. I don't make the rules only add-in input and I believe we should have the weather taken into consideration. Again, I am glad you received something finally just hoping it was higher. Unfortunately, there are no guarantees for any of the above-mentioned. Go knock it out and I hope this was just a bad February and that's it! 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
839 Views
Message 27 of 29
Report
Square Champion

I understand all that you said and I am not one to tell you or anyone who, what, or how to run your YOUR business. I do though recommend that before you jump ship just got on their public forums and read their comments on the user's site and see what they are saying and do not trust and believe I am sure you receive the same calls I do every day from the sales rep that promise you free equipment, processing for a year and the huge one I guarantee an offer once you sign up. That's their job is to get you. I will tell you that I have read the terms and conditions of the Big 5 and all are the same! You start out at the bottom and work your way up creating a relationship (history) so their algorithm can pick you up. That is publically posted and stated. Take your time and research and then make your decision. Good luck and I hope to see you back here. 

 

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
815 Views
Message 28 of 29
Report
Square Champion

From the same loan, I replied months ago?

> Square Champions Innovator, Beta Community Member, Square Champion Expert, Square Champion Advisor.
If I helped answer your question hit the best answer. Thank you!
172 Views
Message 29 of 29
Report