Loan offer

[Ggrice0208]

Hello

I’ve been with square for a

while Now had several loans always paid early 

my current loan is on 94% paid and still no offer  I am so sick of the loan team telling me there’s nothing they can do they have no control over offers   So I am at a loss of their function ? The fees square charge are pretty expensive in all

aspects and the customer service is terrible. Why have a dedicated loan team that just copy and paste the exact same answer every time 

I process a lot of money through square and now I am being forced to  move to another card processing company 

I even spoke to a advisor on line that assured me the loan team can help

so I called them was waiting 45 minutes to get through for the advisor to tell me there’s absolutely nothing he could do to help me 

that’s a hour of my life I won’t get back 

really disappointed with the whole situation and process and if square had not kept assuring me that of if I kept processing a offer will come is a complete misleading statement 

[Twpchair]

I apologize for any confusion or misleading information you have received; this is not a good business practice, especially given that you seem to be a very loyal customer of Square. I wish I could provide better news, but unfortunately, I am just a user like you, and I've noticed this issue more frequently than I should. 

If your guiding principle is that there's no guarantee of timing or approval, then that's what you should stick to, without exception. I’m truly sorry for being misled or told to wait, as that is not acceptable behavior at all. Ultimately, only you know what is best for your business.

I wish I could say that the experience is much better elsewhere, but from what I’ve seen on public forums and Reddit, many users share similar concerns about the same thing as you are experiencing.  They are unhappy with their move and feel misled by representatives. Claims of instant approval are often overstated, and many users find themselves starting from scratch with a minimal offer.

Remember, representatives are motivated by commissions tied to the services they offer, and they may do or say anything to secure your business. Given your experience, you are already aware of these practices.

I just wanted to express my apologies for how this situation was handled. I wish you the best of luck with your business!

[Ggrice0208]

hello 

many thanks for the reply I fully understand there is no guarantee of another offer and I accept that but to keep being told if you are processing like  the time you had a offer then another will come . Square charges are not cheap and to have a dedicated team for loans that absolutely have no power to help just copy paste the same response is totally no good and is bad practice .

I feel like its the dangling carrot to keep you processing with them 

I feel totally despondent with square 

I am processing more money with square now then last year everything is in the green so totally docent make any sense to me 

[Ggrice0208]

hello

I am 93% paid on my current loan it is my 5th loan and all my loans have been paid off well in advance and I have always had offers at 75%. 

as I said I am 93% paid off and still no offers have come speaking to the loan team is a complete waste of time they can not provide any help just the same old answer keep processing and a offer will come .

square charges are not cheap and with what they charge they should provide a much better customer service

anyway I lost all faith with square now and will have to go elsewhere for my card processing

I process a lot of money through square and all aspects of my account is in the green so I can't understand why no offers have come

[Katie_SQ]

Hi @Ggrice0208,

To ensure we compile all similar feedback in one place, I've moved your additional post to your existing thread. We merge duplicate conversations together to help track feedback more effectively.

I can certainly appreciate your frustration here, and I wish I had new information to share with you. 

The automated nature of the loan eligibility process can indeed be frustrating, especially when you've received offers with lower processing volumes in the past. While the Loans team at Square can assist with certain aspects of Square loans, unfortunately, eligibility factors isn't one of them. The main factors impacting eligibility can be tracked on your Dashboard, but there are additional contributing factors you can learn about on our Eligibility FAQ page.

It's important to note that account activity is regularly reviewed, though I understand your concerns, and ultimately, you have to make the best decision for your business.

I'm sorry I couldn't provide more insight here. If you have any other questions, please don't hesitate to reach out.

[Ggrice0208]

Thank you for your reply appreciate it 

that’s is all I have been told by square you know how frustrating it is?

if that’s the case change the way you process loans ?

your prepared to lose customers because the way you operate crazy in my opinion

[Twpchair]

Unfortunately, all POS companies like Square use an algorithm especially those that offer loans. With millions of users worldwide having a “traditional” loan officer just wouldn't be feasible. I agree 100% that customer service needs a complete overhaul and get back to the basics of picking up the phone and talking with a real person who is listening to your account issues. I am trying to help one now and it's crashing on me here. 

[Twpchair]

I agree with you 100% and transparency and communication are key to the way I run my business I am guessing you as well by your numbers. Congratulations on that. I am huge with large companies that go full extreme with AI and I am not saying that about any business in particular but on the whole. Especially when it comes to customer service and tech support. I use AI as a tool to help with data, crunch numbers ask simple questions it is extremely useful but to an extent. When I have a question, or especially an issue with my business or my financial business I have trust in my bank, or my financial lenders I can rest assured that I can speak with a person and not an AI chat or a pasted response. Do I understand absolutely and more than you want to even hear. Just about everything I have dealt with lately is all big companies and not 1 person except for the rare callback. My local small-town 5 branch credit union is still amazing though. So, I do understand what you are saying and I agree with you that we all deserve to be heard and addressed by our business partners and it should be straightforward with no ill or empty promises like you received. I am sorry you were told that. I truly wish you the best. 

[Twpchair]

How did everything go? Did you get an offer, and if so, do you remember the percentage? I have noticed that since they merged all the English-speaking countries, at least the ones who post here are catching up a bit. The percentage is bouncing around from 69% to paid off now. 

[Ggrice0208]

No offers have come

square must have changed how they offer loans or have just over stretched and are cutting back on loans to be offers 

either way the charges for loans are more than others and the customer service is far below average and they really need to look at how they process loans 

[Ggrice0208]

Still no offers been a month since fully paid off

been with square 4 years had five loans all paid way in advance last loan paid in four months 

process over 150k a year no charge backs failed debits or any other issues every is good processing as usual so I can not believe that I am not eligible for a loan 

they must be offering less loans I have always had offers at 70

to 75% paid the whole process is so frustrating