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Square Loans Reconsideration

I was offered a 4th square loan.  In order to be approved for the loan they needed some additional paper work.  They gave me 11 days to come up with what I needed.  When there were 4 days left, I got a reminder about uploading the appropriate paper work and that I had 4 days left to do it.  I finally got it the paper work the next day, I went to go and upload it, and the offer was gone.  There is no way to reapply, or for them to give it back.  I have tried and tried to get them to reconsider, and they just wont.  I dont want to have to do one of those loans funding options, they are way more expensive and are not as easy to pay back as the square loans.  I wish they would just let you re apply.  

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Square

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Hi @azasu27

 

I took a look at your account and I can see a member of the Loans team sent an email on 1/3/18 with additional information. Please know that we do regularly review each account and if your business is eligible, we will notify you on the Dashboard. 

 

For more information about becoming eligible for another loan, click here

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Square

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Hi @azasu27

 

I took a look at your account and I can see a member of the Loans team sent an email on 1/3/18 with additional information. Please know that we do regularly review each account and if your business is eligible, we will notify you on the Dashboard. 

 

For more information about becoming eligible for another loan, click here

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Hi LeDora and thank you for taking a look.  I received the email and I understand why I was denied.  I was denied because of the lack of paper work.  But my problem is, that the email that I received said I had 4 more days to get the paper work to your company.  The very next day I tried to upload the paper work, and the offer was gone.  So I did not get the 4 days to give you the paper work.  I prefer your company over the other types of lenders and I would prefer to go through you guys.  But this is making it difficult.  

 

I completely get that there are no guarantees for this, it is just frustrating that I got an email saying I had 4 days left to upload the paper work, and then it was gone before the 4 days were up. 😞

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Thanks

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For me, the required paper work had to do with my bank account.  It was nothing big or an abnormal request, but it took a few days for me to get it.  When I did get it, I went to upload it, and the offer was gone.  They didn't give me the amount of time that they had said they would in the email.  Major bummer.  It has been 2 1/2 months and still no new offer.  I email them every other day waiting, hoping and praying that they will give me another offer.

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Yep

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Soooooo sorry

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Their automated loan offers need changing...we are small businesses and more one on one structure is needed instead...small business is still the backbone of America 

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I'm mean you guys keep saying look at the FAQ, watch your email...etc. This enitre thing with Square Loans is so inconsistent. And to be honest with you we process our payments and pay our fees regularly, why wouldn't you guys offer the same consistency since you "value our business". The same way your running a business is the same way your merchants are running a business. Don't get me wrong square is super easy and I enjoy using your system but....I paid off my 1st loan and then reached back out to you guys and nothing.  Just some automated generic responce. You see all the complaints on here why wouldn't you make it a priority to make something consitent about the program. After all is it not our payments and fees that make Square a company anyway?? I paid off my 1st loan no problem asked for a second got the run around, system generated answers etc....Well for everybody out there WAITING on Square Loans to send some random email, I jumped over to paypal and they DON'T make you wait and there terms are easier and more consistent so go check them out!!

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Ya I got an offer of [Personal Information Redacted] today when normally got [Personal Information Redacted]..was disappointed again.

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Congratulations! I do feel you it’s half but an offer none the less. Were you fully paid off?

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[Personal Information Redacted] left

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Nice! I have [Personal Information Redacted] left☺️

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Just improve your services we ask please....

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Honestly it looks and feels like they don't value our business. They have this thread and everybody complains but they do nothing about it. Check out pay pal they are forcing me to use them. We are still doing sqaure transactions but the are forcing me to go with a company that values our business.

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I am very disappointed in square at the moment because I pay down my loan [Personal Information Redacted] in December and they turned around and sent me an offer for the same amount in January that is now pretty much paid off and that little tiny bit [Personal Information Redacted] did absolutely nothing for my business because I had already given it to them in December I was trying to renew my loan earlier and all I get is automated messages back stating that I don't qualify when absolutely nothing has changed with my business I pay their loans off in 8 months they get almost a [Personal Information Redacted] a week from me... I reach out over and over again asking for assistance and all I get back is automated messages

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@Angelamcdannold I have no idea what happened in your case, but a possibility that comes to mind is that the underlying reason you qualified for a loan offer (rate of transactions, amount of transactions, ratio of new to repeat customers, etc.) may have changed to where the loan offer was no longer valid.

 

Again, I have no reason to believe this is what happened in your case. I'm mostly mentioning it for the benefit of anyone reading this thread, that this could be one of the ways that Square Loans operates. A loan offer may expire after a certain number of days, but that doesn't guarantee you have that many days. The offer could be withdrawn before then. The expiration date is really just a maximum possible length of time. They are very unclear on this, which is quite unfortunate.

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I have been reviewing these post and I'm very disillusioned. Have reached 73% Payback on my first Square loan, was really hoping for a new one as I have an opportunity to buy a box truck to help expand our business. While we are making great strides in our growth after 6 years it would be great to be able to provide the funding through Square Loans versus going to our bank and paying the higher interest rates.  Keeping our heads to the grindstone and a smile in our heart. 

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I to have relied on them for my loans every 9 months and something has changed and I have become a little bit disappointed I did just get an approval for half of what I normally would have gotten,  But at the same time I feel like they are able to hold us down because we're relying on an automated message to come to our email whenever it chooses I used to get my message when I was at [Personal Information Redacted] now at took me getting all the way down to [Personal Information Redacted] and it was half as much

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I was approved for half as much I mean but it will help me in my situation right now but only to get me out of the debt I was in not to help me go forward because it's half as much as I would have needed and would have already gotten before

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So I feel like it's not reliable anymore and I've relied on it for 6 years to help me do things to grow and business just as you were trying to do

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