Solved: Anyone received loan offer 2021 - Page 5

Tran1313 · ‎03-17-2021

[The title of this thread has been edited from the original: Has anyone been offered a new loan through Square Loan? 03/17/2021]

Hi everyone! Has anyone been offered a Square Loan this year 2021? Is square still offering? What is the maximum loan amount Square is offering? I’m almost paid off but still haven’t seen any offers from Square.

Eric007 · ‎04-01-2021

Hi @Dvcarwash1,

We appreciate you taking the time to reach out.

We thank you for your patience during these difficult times. We understand the challenges you have faced and are proud to partner with a business as resilient and flexible as yours.

COVID-19 definitely forced us to take a step back and recognize how this virus changed how our sellers do business. New signals and criteria are consistently incorporated into our lending models to ensure we can best serve you. Eligibility and offer sizing for Square Loans program is based on a variety of factors related to your Square account, including payment processing volume, account history, and payment frequency. More details on eligibility and offer sizing for Square Loans can be found here.

While we do not have a specific timeframe for when another loan offer may be available, the Square Loans program will continue to automatically review your account for eligibility. We understand that not being immediately eligible can be frustrating, but we are unable to override the automatic review process with a manual review.

I hope this information was helpful! If you have any questions about Square Loans please contact the Loans team directly.

Eric
Square Capital Team
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Square Capital, LLC and Square Financial Services, Inc. are wholly owned subsidiaries of Square, Inc., Square Capital, LLC d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are issued by either Celtic Bank or Square Financial Services, Inc., both are Utah-Chartered Industrial Banks. Members FDIC, located in Salt Lake City, UT. All loans are subject to credit approval.

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glyph · ‎07-03-2021

Yes, although they have offered less this time than previously, despite my paying off well ahead of schedule on multiple loans.

Kimmiekay · ‎07-07-2021

Nope and I’ve been paid off for over 5 months

Nellieo2 · ‎07-18-2021

Yes still significantly lower than previous offers. Although it's higher than the one I was given in April.

Merakiflair · ‎08-30-2021

Has anyone received any updates from square on when they will continue capital offers? I wasn’t sure how to reach out to square. I paid off my last loan in December 2020, no chargebacks, and continued sales and have yet to receive another offer. Just curious on if it was just me.

Dawggos · ‎11-16-2021

They have been definitely giving offers. I received 2 between August and September. The one in August was 33% paid off and then they offered me another one in september for triple the loan in August. I never applied for ppp loan and I also kind of figured out their criteria.

Dirtydogadb · ‎02-25-2021

Has anyone received an offer recently? Like since Jan 2021?

Joe · ‎02-25-2021

Hi there, @Dirtydogsadb 👋 Thanks for reaching out and joining us here on the Seller Community!

Just a quick housekeeping note, I've gone ahead and merged your post into the Loans board. This will give you a better chance of receiving a helpful response from other Loan users directly, you may even get a response from a Loans Team member.

Let us know if you have any questions in the meantime!

Joe
Community Moderator, Square
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Oxbow · ‎03-01-2021

7 loans paid off early and now it shows ineligible???

Joe · ‎03-02-2021

Hi there, @Oxbow 👋 Jumping in here quickly to let you know I am moving your post over to our Loans board. This move will increase your chances of getting a response directly from a Loans Team Member.

Cheers!

Joe
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.

Kimmiekay · ‎03-04-2021

Did they pause loans again to do PPP loans? I’m at 97% again and no offers.

Kimmiekay · ‎03-04-2021

I said same thing, did they stop them again?

Cameron_ · ‎03-04-2021

Hi @Kimmiekay,

Thanks for reaching out and raising your question. I'm happy to explain

While Square Loan offers may be available to some businesses, we are still actively making updates based on the current state of COVID-19 and changing public health guidelines. The status of restrictions and reopening in your location and industry may impact your eligibility. To account for local and state restrictions related to COVID-19, eligibility criteria has been tightened. Due to evolving health guidelines, your offer may be smaller than expected or the offer amount may shift in real-time.

We understand that funding is important to businesses now more than ever, and we are continually re-evaluating your account on a daily basis to determine if you’re eligible to receive another Square Loan.

If you’re not immediately eligible, we’ll continue to monitor your account as your eligibility may change at a later date. To learn more about Square Loan eligibility, visit our Support Center.

If you’re eligible for a new Square Loan, you’ll be notified directly on your Square Dashboard and via email.

Let us know if you have any questions, feel free to contact us.

Cameron
The Square Banking Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

Has anyone received a new Square Loan offer in 2021?