Has anyone received a loan offer in 2023?

[Blackbear579]

I'm at 71% and usually see a offer by now (between 65%-70&).

[#2]

I'm where you are at (minus the actual loan offer part.) Sale are up about 60% over a year ago and processing is up about 65%.  All the other things are in the green.

I think most people's frustrations are that it's just not transparent and there isn't a clear goal to strive for. It is also disheartening to just be told the same quotes over and over. It comes across as uncaring and impersonal. Which if that's the case is fine, that should be conveyed to clear up misconceptions and so people don't get their hopes up. It would also come across as more professional to state those things (economy and such) from Square itself. It would let people know where they stand and can make appropriate decisions. 

[_Violet · Accepted solution]

Hi all 👋 @Blackbear579 @DD_2019 @Me2018_ @Swain - I just wanted to drop in to provide some context on Square Loan offers:

Square accounts—including accounts with an active loan—are reviewed for eligibility regularly. You don’t need to contact us or provide any additional information to become eligible for another loan offer. You can check your Square Dashboard (at any time for more information about your current eligibility status.

Offers are not guaranteed and we are unable to predict when your business may receive another offer. Loan offer details, as well as the timing of eligibility, may differ from your current Square loan. You can find additional details here in the Square Loan Eligibility FAQ support article.

If you have any additional questions about Square Loans, you'll need to get in touch with the Square Financial Services Team by logging into your Square account and heading here. The Financial Services Team's business hours are Monday - Friday, 10 AM to 7 PM CST.

I hope this information is helpful but please do let me know if you have any additional questions.

[sayra · Accepted solution]

Hello, @Fca. 

It's understandable that you're curious about the timeline for a new loan offer after being denied, especially given your previous experience. Every case and account is different, on this platform we do not have greater visibility regarding your account and loan qualifications. 

For Square Loan related questions and Loan availability or eligibility you will want to reach out to the Square Banking team. They are available at 855-700-6000 between 6 am - 6 pm Pacific Time Monday-Friday. Our designated team will be more than happy to help you further. 

In addition, we went ahead and merged your post to this existing thread where other Square Sellers have discussion their Square Loans. We merge duplicate conversations together to keep like comments in one place, and to make it easier for others to find the thread in the future. 

Thank you. 

[luci1811]

Hey! Have you been approved yet? 

[TrendzbyM]

Yes approval few minutes after !

[Pecard81]

Nice! I am at 82% and just waiting and waiting, my last to loans where at about 79%-84%

[Ulmen406]

 I am currently sitting at 79% waiting on an offer. I’m on my first loan though. Paid $6k off in about 6 months. Really could use the extra bump in my business. Do I need to pay my first loan to 100% to get another offer? Thanks yall!

[TrendzbyM]

I just hit 79% today and I've had 15 loans with square throughout the years. I can't remember when percentage  I've gotten them at before , but I'll post here when I do get an offer !

[TrendzbyM]

I just received my offer at 80% paid off. Was little less than normal but I'm so happy and the terms are the same as usual. 20% payback. Waiting for final approval but otherwise easy application!

[ashleymedina]

There was a time with square that the first offer was the lowest offer. The more you accepted I'm cards the higher the offer went. Have you heard from anyone else if that's what's happening again? I called and asked but they have no answers. 

[Twpchair]

I'm seeing a mix of a tad higher or I've seen others 1/4 less than previous offers. It seems to be jumping around. 

[Pecard81]

Was that today?

[FirstLook]

Congrats! We're getting closer to 60% now and usually get one between 60-70%, so hoping that continues. 

If you don't mind me asking, what percentage of your sales was your loan? It seems like they can be all over the place, so just curious. No worries if you don't want to share! 

[Knight87]

thank you all for contributing, 61% all green, got them in the past in 50's, 70's, 80's and 90's %, never in 60's, I  get an offer twice a year, june and december, keep us posted, good luck to you all

[NRVGuru]

We just reached 81% paid off after today. We usually see new renewal offers around 70-ish%, right during the holidays. Some extra holiday inventory would be nice, sooner the better!

[Pecard81]

84% today still waiting 🥹

[NRVGuru]

Sending good vibes! Guess we're going to have to chug along into December??

[Hisergirl32423]

13th loan all green 89% waiting….

[Pecard81]

Hopefully we get that email tomorrow ✌️🙏

[Pecard81]

85% I think by the end of December I would be at 100% I hope I don’t have to wait that long….  I could really use the loan to make several payments and have a big payback month aswell 

never waited this long 😅🥺🥲

[Twpchair]

Ugh, unfortunately, my last loan I was 91% paid off in June and received my last loan. Yes, they are still lending you can scroll down and see people post everyday that they just received their loan. It's hard to tell the percentage because it is trending to a higher percentage paid off for most but not all. Last week a few jumped on in their 70s and received a loan offer. I'm at 68% or a tad higher now, on my last loan from June. Good luck, please keep everyone updated it helps to keep others encouraged. 

[Chance2322]

I’m at 89% and yes it seems like the payoff percentages are a lil higher than usual.But like you said we have to keep one another encouraged aswell as ourselves.thank you 

[Jjpainting]

Just wanted everyone to know that I just got my 4th loan offer.  My second loan offer didn’t come through until after it was 100% paid but was over double the first. Third offer came when I was 80% paid which was only around 15% higher than second. My offer last night came in at 68% paid off and was almost double the third. My last two offers came in when my sales were higher than usual for the week prior. 

hope this helps 

[Chance2322]

Did you do the bank connect?