Loan Process 2025

[BobH02]

Good Evening ALL & Happy New Year! I just have a quick question.

Our Co has been with Square for a few years now. We had our PPP Loan through Square, and we also have had multiple Loans Offered & Approved that were all paid off early. On our latest Loan Offer, it seems like the approval process is taking much longer than usual. We are at 5 business days 2day, and still at pending status? No other info has been requested. And our other Loans usually were approved in 1 or 2 days and then funded the next day. I’m just wondering if this is something new in 2025? And also, if any other of you folks may be having the same issue? Please let me know.

Thanks, 

Bob

[Ashleyw87]

Thank you. It was just approved! 

[Twpchair]

Congratulations!!!!! It's been a bit slower with the holidays but I try to tell people to just be patient they haven't asked for more information or any verification process etc. They are just backed up is all. Again, congrats, and heres to a great start to 2025!

[Alexanderoep]

Hi, I am at 72 percent payment back on my current loan what percentage are you all receiving a loan at ? I could use more capital since I am in my busy season. Happy new year everyone 

[Twpchair]

My last few offers this past year was 91% 84% and 69%. The 69% came extremely close after the 91% and I passed on that. It has been trending higher for the majority of people (not all of course) this week all I’ve seen have been from 81% to 88%. One nice thing is you get the most out of your loan and bad news is if you’re in a bind or need inventory or to fix equipment it’s a killer. I never say never but just giving you the current trends for a good percentage of people that post here. Good luck and please keep us posted. 

[Barbershop806]

I had the same issue, sometimes it processes and they forget to send it thru, just call them and it will come the same day 

[Twpchair]

Good call! It never hurts to follow up ever! I have seen some 30 minutes later ugh, that's a little bit too soon but I would think by 48 hrs and nothing (unless the weekend or Holidays) definitely wouldn't hurt. 

[ghettochild]

can ypou help me i tried to pay a mamber but they disabled my account on squre and on facebook so i can get into the money i have set the settings to managae 

[Twpchair]

Can you give me more details, please? What do you mean you tried to pay a member? Like a return or refund? Have you tried to call Square and ask them why or what is going on? Your settings as manager is good but for them to lock you out of both something is going and unfortunately, a Mod can't give personal information out on a public forum. Try this number and explain you are locked out of everything. @Sammie_C do you have any idea why or who she needs to reach out to? Thank you! Strange locked out of Facebook and then Square?

[Sammie_C]

Hi @Twpchair and @ghettochild, thank you for reaching out.

Here on the Seller Community we are unable to go into account specific information since it is a public forum. I would recommend reaching out directly to Customer Success for the most up-to-date information.

Please let us know if you end up having any other questions or concerns in the meantime.

[Twpchair]

Thank you! 🙂

[ianssoph]

Just curious, at what percentage everyone was at when they received an offer. I’m currently sitting at 73% and have not received one. 

[Twpchair]

It has been trending higher for most (not all of course) my last 3 were 84%, 91%, and yes 69%!!! The majority I see are around 85% to 93% ish range. That's just going off the trends and the people that post here. There are no guarantees it's all on that old algorithm to pick you off. I know it's hard for me to get used to as well. After close to 12 years before a good couple of years, I could almost guarantee an offer between 70-75% like clockwork. Now, it's been trending over a good year higher % to pay off. I kinda like it. Less rollover eating up the new loan. It doesn't help if you're in a bind though. I hope this helps and hopefully one will pick you off quicker! Good luck and keep us posted!

[ianssoph]

Thank you! I’ve also been with square for so long and my loans are always around 60-75% so I’m hoping they stay with that. 

[Twpchair]

I never say never because we are all different in how we process with volume, frequency, etc. I follow the trends and go off of what the Mods post or reply to and it looks like the higher % paid back at least for now is here to stay. The idea is you get more of your loan and less rollover eating it up. Again, I have seen some in the 70s but that's been a small few. 

[Damien_H]

I’m currently at 94% paid off of a loan on 11/1/24. Business has tripled since then but still nothing. Algorithm right 

[Twpchair]

My last 3 offers were 84%, 91% and yes honestly, 69%!!! I accepted the 91%. Just myself only unless an emergency situation I don’t like to take offers at 69% service now. Offers are especially now right about the same or lower than the previous offer, not all of course I follow the trends. Those getting “bigger” offers are around 2k than the previous on average. I hate the idea of paying on it for 69% then roll it over and eat up my same offer then loose 30% of that by rolling it. I understand each person is different and if you need that loan for equipment broken, deals or inventory you can’t pass up on it absolutely! I don’t need a lecture on how to pay my bills or you could have stuck some money aside for a rainy day. Gotcha but it’s life and stuff happens! I don’t judge or think twice if someone takes an offer at 50% or 98% it’s your business and you know it better than anyone else! This is getting close to about 2 years of pulling back those 70-75% paid back and increases each loan. There is no more new norm or 💯 no more old norms. 

[Damien_H]

I’ve never taking any loan under 75%. Currently on my 10th loan since 2016. Seems the loans are coming in allot slower for everyone compared to the past. Hopefully we all receive a very reasonable offer sooner than later. It’s needed 

[BobH02]

I believe I was over 80%

[Twpchair]

If im not mistaken I thought you were 83-85%% area. You were on there when most were right around that range and boom a couple of high 70s popped in and then right back to the upper 80s again. Except for Christmas through New Year's that was a rough patch. Glad you received yours congrats again!

[Ashleyw87]

Is anyone having their loan approved after one business day or even three business days? Normally, when I apply for a pre-approval offer, it’s approved within minutes. But the most recent one, it’s pushing almost one business day before an approval. 

[Twpchair]

Yes, it's been taking a little bit longer for some, and unless they ask for more information it's just going slow. A few here and there pop up flew right through in less than an hour type thing but with the holidays if people or businesses have a hold up it tends to slow things down a bit. Good luck and hopefully you have it already