Loan Process 2025

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

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Mine tend to be more Saturday offers than any other day of the week. Our busiest days are Wednesday-Sat and I tend to get a late night Saturday offers than any other day. 

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@Kacey_W wrote:

I actually have a question for you so I got my second loan offer two weeks ago and it was less than my first offer but the few weeks leading up to me getting my offer literally no card payments except for a few here and there most people were paying cash so I understand why the offer was low. My question is do you think it would be stupid of me to pay this loan off and then that way the algorithm could see because since I’ve got that loan, I’ve had nothing but card payments. It’s back to how it was before I got the loan. 


Hey @Kacey_W 

 

So I personally would advise against doing that for a few different reasons.  First one being the most important one is the fees that you are going to eat for practically nothing in return.  It would be like throwing away all of that money literally.  Second reason I wouldn't go this route is that it can take  10 business days for the funds to clear, and the loan to be paid off.  You then get tossed back into the algorithm and an offer is not guaranteed at any point in time regardless of paying it off. 

 

If I were you, I would just do business as normal, and when it pays off, it pays off. But that is just y .02 though.  I would do/take what you can with that loan that was offered, recoup the fee;s that were spent and then hopefully your next offer when that is paid off if you decide to take it is the amount you are looking for if needed!

Dan
Scorpion Coating Plus,LLC
Square Super Seller
Check out Square support center for additional help.




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I would contact Square 1st. That sounds a little shady for one. If you can document everything about it. On our business page (FB) I am double verified and the amount of traffic we get. I get roughly about 3-5 scammers a DAY all from Messenger. Never had a single one on our Facebook page though. You would think if you saw a 1k charge on your card you or they would have been calling nonstop and hotboxing that card fast. Sounds odd to me. Good luck with everything. No, one is not a make-or-break type of thing in what 5 years or so?

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This my first one since I’ve been with square Jan 2025, exactly my thought, they didn’t realize there card was lost a week later…..and I contacted square the day she contacted me but square said nothing they can do about it cause they don’t see a open dispute 

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Ahh, if no open dispute then you don't have any negative impacts but you are out a grand. Smh its been a rough couple of months from stealing to scammers. And think that is their full-time job. 

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How are things going? Did you get anything else about the dispute? 

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We have never had to wait past 75% and never missed or been late on a monthly. Bummer because I passed on a show this weekend as it would have been a break even at best but thinking just to keep swipes up I should have went 😞

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Keep swiping first that's what triggers an update. No swiping = no updating. I know it's hot and miserable and maybe not the best show but you're swiping and the algorithm is moving to update you. The 3 days down hurt the pocketbook and the bills. It also stopped you from updating. Keep taking cards as much as you can to keep that system updated for you. It is not just you, believe me. Scroll through the page here. It has changed for the better. We all just have to remember that and get that old 75% out of our heads as standard. Keep swipping, the volume and amount of swipes, and new customers, all equal growth. The rest of it speaks for itself with your history with Square, prior loans all great. 

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I'm paid off at 96% now. Given, I went on vacation so didn't have any process activity for a few weekdays.

But today everything in green..96% paid off. All good numbers up. Nothing!

I owed almost $290 left on about a $9,500 loan and sure expected an offer before now! 

Tired of it and Just paid off the balance. 

Last time I did this I got a new offer on the 5th day. 

We shall see! Will keep you posted. Need it to restock my supplies and buy some new equipment for my business for summer. Fingers crossed! 

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Good luck to you! You will definitely be paid off and then some with the 7-10 business days to process it. You will be debt-free! Congratulations on that. Hopefully, you won't have to wait too long, and a good offer will come in. Good luck to you!

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Just got my offer about an hour and a half ago. 74%! 

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Congratulations

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Congratulations!!!!!

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Congratulations!! Crossing my fingers as I could seize an amazing opportunity. Timing, all about the timing.... 

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I am currently at 90% right now. As I stated in a previous thread, I believe that one of the criteria is the higher your loan, the higher your payback has to be before receiving an offer. So far I'm being proven right, as this is my second highest loan and my second highest payback percentage to date. 

 

At this point the only way I can be proven wrong is if I don't get a loan at all LOL. 

 

The 10 loans, and sales at over 750k a year, I can't see why it wouldn't be extended

 

 

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I'm at 90 percent and nothing so far! 🙏 soon! Good luck 👍 

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Had a loan offer come in at midnight! I was at 95 percent paid. This offer was considerably higher than previous offer. About 4k more than last! Good luck to all...

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I literally check every day, compared vs. ally past 14 loans and dang I should be on the verge. Hopefully soon for both of us:)

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Just had to hop on here and say i just got my biggest offer yet. Usually around 6-8k and just got a 12k offer at 65%. Usually around 80-90%. Square is saving my bacon today!

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Congratulations 

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Congratulations!!!! 

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Wow! Congratulations! 

I’m currently waiting as well at 80%. Like others have stated, my offers normally come at 75%-78%. Paying one comes soon. 

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Congratulations, hoping for the same:)

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