Has anyone received a loan offer in 2023?

[Blackbear579]

I'm at 71% and usually see a offer by now (between 65%-70&).

[#2]

I'm where you are at (minus the actual loan offer part.) Sale are up about 60% over a year ago and processing is up about 65%.  All the other things are in the green.

I think most people's frustrations are that it's just not transparent and there isn't a clear goal to strive for. It is also disheartening to just be told the same quotes over and over. It comes across as uncaring and impersonal. Which if that's the case is fine, that should be conveyed to clear up misconceptions and so people don't get their hopes up. It would also come across as more professional to state those things (economy and such) from Square itself. It would let people know where they stand and can make appropriate decisions. 

[_Violet · Accepted solution]

Hi all 👋 @Blackbear579 @DD_2019 @Me2018_ @Swain - I just wanted to drop in to provide some context on Square Loan offers:

Square accounts—including accounts with an active loan—are reviewed for eligibility regularly. You don’t need to contact us or provide any additional information to become eligible for another loan offer. You can check your Square Dashboard (at any time for more information about your current eligibility status.

Offers are not guaranteed and we are unable to predict when your business may receive another offer. Loan offer details, as well as the timing of eligibility, may differ from your current Square loan. You can find additional details here in the Square Loan Eligibility FAQ support article.

If you have any additional questions about Square Loans, you'll need to get in touch with the Square Financial Services Team by logging into your Square account and heading here. The Financial Services Team's business hours are Monday - Friday, 10 AM to 7 PM CST.

I hope this information is helpful but please do let me know if you have any additional questions.

[sayra · Accepted solution]

Hello, @Fca. 

It's understandable that you're curious about the timeline for a new loan offer after being denied, especially given your previous experience. Every case and account is different, on this platform we do not have greater visibility regarding your account and loan qualifications. 

For Square Loan related questions and Loan availability or eligibility you will want to reach out to the Square Banking team. They are available at 855-700-6000 between 6 am - 6 pm Pacific Time Monday-Friday. Our designated team will be more than happy to help you further. 

In addition, we went ahead and merged your post to this existing thread where other Square Sellers have discussion their Square Loans. We merge duplicate conversations together to keep like comments in one place, and to make it easier for others to find the thread in the future. 

Thank you. 

[Aynalla]

i'm right there with you all, had been all green and now have been sitting 2 weeks on the white not eligible screen.

[Me2018_]

What percent are you paid off?

[Me2018_]

This is the longest I been on that white screen

[aceshighcyclesh]

Me too as far as I know. I don’t know that I’ve ever been on it before.

[Dolledup2018]

Mine keeps going in and out of it. It’s crazy! I’m on my 10th loan at 82% and I have never had this screen before until recently and it will change back then a few days later change again. 

[aceshighcyclesh]

10th loan for me too and never had this screen before. Mine just switched to that and has stayed like that for 2 weeks now..  86% paid. Consistent transactions etc. so bizarre. Also if you look back in the thread I was told that due to my current account activity square is unable to determine eligibility at this time…Makes zero sense as I would think that being so close to paid in full on loan #10 (many months early as well) and continuing with almost daily transactions they would be able to determine my eligibility from that, as well as from my past history. 😑 so crazy.

[RL35]

I finally received a loan offer after my current loan is 75% paid off. I applied for the loan, and normally, i would get a decision in an hour or so if I am approved.  But now, it's been over 2 days and I still havnt gotten a decision if they will approve the loan or not. And there no one to contact to see if they need something from me or not.

[Me2018_]

Hi, is this your 2nd, third loan. You mind giving us some intel?

[RL35]

I have received 12 loans so far. This loan offer is for $15k this time, which is $2k more than the last one. My current loan is 75% paid off. I'm also making more money this year than ever. My sales are always going up. 

[Me2018_]

That’s good, well i hope you get approved soon. Mostbof us int his thread beeen on ineligible screen for the longest and most of us are over 80%. Were you on the white screen for a while too?

[Bellas]

Well I am at 92% paid on my 4th loan yet I haven’t gotten a new offer.

[RL35]

I'm not sure what the white screen is but it always said ineligible for another loan but I was green in all categories. I'll post when I get a decision either way.

[Me2018_]

Ok keep us updated , thanks

[RL35]

So, I finally got a decision on my loan application and it was approved. It took 3 and half days for them to yes, even tho none of my info has changed from the last 6 loans apps, which only took them an hour to approve before. But, yay, my money will be here next WEDNESDAY!! I have been annoyed with this whole situation but I'm grateful it's finally done. 

[Me2018_]

Glad for you. Was your increase this time relatively low compared to before or ?

[RL35]

Yes it was. Normally the amount increases nearly double each time. But this time it was 2k increase

[Emmiejo45]

Mine has done the same thing. I’m at 94% paid on my current square offer. All of my eligibility factors were green then I looked last week and that screen has been replaced with the white one saying I’m not eligible. And for once I really need one! 

[aceshighcyclesh]

it is super frustrating I’m sure. I’m in the same boat 87% paid and it’s been on that screen for over 2 weeks. Was all green before. 

[Hudson7484]

At 82 % still nothing 😭

[Thesignguy1986]

So I’m confused as how to my loan is  ineligible says processing volume needs work,  I’m actually well paced ahead of last years and previous years,  our customer frequency is high as well as new and retuned customers.  It’s not the end of the world but seeing this I will likely end up going to the bank in the next week for a loan for a second machine we’re gonna put in.  Granted I’ll prob end up w a better rate I enjoy the ease of how I pay back w square making it no burden being we are a high profit margin business - wish you guys were more straight forward I’ve been a long time customer compared to prob 99% of yours and have a very good track record. This has really made me think about alteratives

[brown17]

That is happening to me right now.   All of sudden it says processing volume needs work.   My sales are way up.   Did you ever get an offer?