Has any one gotten a square loan offer as of 11/21

[Marystacos530]

I’m fully paid off on my loan and am in need of funding ,but it seems like before I wasn’t even done paying off my existing loan when I would get another offer and my Bussiness is still about the same, and I feel like now that it became square bank the criteria for the loans has changed even though I’ve had 11 loans and paid them all off in less then the time given .I feel like square isn’t so much for the small businesses anymore even though we’re the ones that made it grow I’m disappointed.

[Jenos]

I'm not sure either, it seems that they are giving loans out but sparingly...

It wouldn't be a huge problem if you could just apply for a loan instead of waiting but I need a small loan for next week, I managed to get to the required 10k (thank you Cyber Monday) but I'm still ineligible. It's very disheartening, I rather not get a loan from some shady company loan offer, Square has been so helpful for me and my business.

I hope we're able to get the help we need soon.

[VanKalkerFarms]

An average of just under 1,000 Square loans are given out a day. 

I would look into getting a Line of credit from your local bank/Credit union as getting 11 Square loans is a lot of interest.

[Cameron_]

Hi @Marystacos530, 

Thank you for your question and being a part of the Community.

We appreciate your loyalty when choosing to partner with Square for your past business loans. Please know that your loan history is reviewed in determining loan eligibility, but there are other factors of your account that are also considered.

Currently, offer eligibility is based on payment processing data, which means eligibility can change as frequently as your business does. Loan processing data includes your processing volume and your processing history, such as failed debits, chargeback history, and changes to your processing behavior, among other factors.

We understand that it is frustrating that we can’t guarantee that you’ll receive a new offer because you’ve had previous loans with us in the past.

Square accounts are reviewed on an ongoing basis to ensure that each business gets the right customized offer. We can’t predict if or when your business may be eligible for an additional Square loan, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

If you have any questions, please feel free to contact us.