Square Loans 2024 Haven't received any in over 1.5 years!

[CryoNL]

Is there a glitch on my account? We haven't received any loan offers since 2022. We've grown on every metric, over 200% since 2022, 0 disputes or chargebacks, healthy business. We've bootstrapped all of our growth due to the lack of support from Square. We are likely going to switch in the next month, anyone able to provide feedback? We've processed over 500k via square since 2022. With almost 400 of that being in the last 1.5 years. 

[Katie_SQ · Accepted solution]

Hello @CryoNL. 👋  We appreciate you reaching out!

I know it can be frustrating waiting for a loan offer, especially when you've been offered a Square loan in the past.

At this time, we can’t predict if or when your business may be eligible for another Square Loan. However, we will continue to monitor your account for eligibility. Offers are based on a variety of factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. If your business satisfies one or more of the criteria, your business may still be ineligible if it does not fulfil other eligibility requirements.

If your business becomes eligible to apply for a loan, we’ll notify you through Square Dashboard and email. In the meantime, you may want to check out the Loans tab of your Square Dashboard for more information about your current eligibility status. To learn more about Square Loans eligibility, visit our Support Center.

If you have any other questions about loan eligibility, feel free to contact our Support Team directly at 855-809-9000. They are available Monday through Friday, from 6am to 6pm Pacific Time.

I hope this information is helpful, but please do let us know if there’s anything else we can help you with 🙂

[Twpchair]

Have you tried calling the number straight to the loan department? Yes, they are 💯 still doing loans daily! Something doesn't seem right with not getting an offer in over 2 yrs? I would call them directly and you might have to get in touch a couple of times to get to the right people and pass the general information line. Good luck and please let me know if you need anything else or numbers to get there. 

[CryoNL]

I haven't tried calling, just emailing. Their email is useless, providing typical automated responses and zero clarification on what's going on. 

What number should I call?

Thanks

[Katie_SQ · Accepted solution]

Hello @CryoNL. 👋  We appreciate you reaching out!

I know it can be frustrating waiting for a loan offer, especially when you've been offered a Square loan in the past.

At this time, we can’t predict if or when your business may be eligible for another Square Loan. However, we will continue to monitor your account for eligibility. Offers are based on a variety of factors, including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. If your business satisfies one or more of the criteria, your business may still be ineligible if it does not fulfil other eligibility requirements.

If your business becomes eligible to apply for a loan, we’ll notify you through Square Dashboard and email. In the meantime, you may want to check out the Loans tab of your Square Dashboard for more information about your current eligibility status. To learn more about Square Loans eligibility, visit our Support Center.

If you have any other questions about loan eligibility, feel free to contact our Support Team directly at 855-809-9000. They are available Monday through Friday, from 6am to 6pm Pacific Time.

I hope this information is helpful, but please do let us know if there’s anything else we can help you with 🙂

[CryoNL]

This automated message with 0 explanation is exactly why we're going to have to make a switch from Square. 

Its been 1.5 years, our processing volume has increased, our customer mix increased, our customer list increased, our monthly transactions increase month over month, zero disputes or complaints, business expanded from 1 employee to 4, our monthly bookings increased, our square fees increased. Square has shown they have no interest in my business growing. 

[CryoNL]

bump

[CryoNL · Accepted solution]

Update to this thread, we've switched POS and provider for our new office. We'll be switching our existing office over in July. Square hasn't offered us a loan in 2 years and refuses to acknowledge there's a problem on their end. They've made over 25k in processing fees from us (we've processed over 500k in CC, 0 chargebacks, revenue up 124% for 2024. Unfortunately they don't care about their customers enough. Good luck everyone else!