x

Has anyone received a square loans offer recently?

I'm curious to know of anyone has received a recent offer from Square Loans. I've used Square over 5 years and completed 6 loans now with no new offer. I know the generic answer of they review your account and will let you know, but just trying to gauge my chances. Thanks

20,843 Views
Message 1 of 118
Report
1 Best Answer
Super Seller

Best Answer

@Lashexperts, I currently do have an offer on one of my accounts but I don't use Square Loans, but since Square Loans gave out over $305,000,000 (three hundred and five million dollars) to 47,000 businesses in the last 90 days I'd say you have a good chance but there are millions of Square users also.

View Best Answer >

21,486 Views
Message 2 of 118
Report
117 REPLIES 117
Square

Hi @Kimmiesue12001

 

I am sorry to hear about the dispute with your customer.

 

I'd like to clarify that a Seller's chargeback history is a factor that is evaluated when reviewing an account.  However, eligibility and offers are also based on many other factors including payment processing volume, account history, and payment frequency. For more information about Square Loan Eligibility, please visit our Support Center article.

3,322 Views
Message 43 of 118
Report

No new information...just the same old stuff. I'm the business owner and telling me that my own information can not be provided to me directly because its proprietary makes absolutely no sense. I can understand chargebacks making or breaking a loan renewal. But 1...just one in 3 years shouldn't! Everything is so secretive...makes me uneasy. 

3,389 Views
Message 44 of 118
Report

I dont know...someone posted they got their 7th! Shoot....I would like to know why he/she is special. I'm just here out of curiosity at this point. Not expecting square loan or anything super craY craY like that. Pay Pal looks pretty good right now...have you seen what they are doing for their Customers?! 

3,373 Views
Message 45 of 118
Report

I paid a large chunk off of mine to fully pay it off in hopes of a new offer. I hope I didnt make a mistake and should have just keep the money instead. 

3,328 Views
Message 46 of 118
Report

I have heard through the grapevine...that isnt always a good idea. Best of luck!

3,326 Views
Message 47 of 118
Report

Nope! Dont DO THAT! the loan is for you to grow and payback from Sales, They say it doesnt affect it, but ive got three people who paid their loans on their own, They NEVER GOT ANOTHER OFFER. Think of it like they loaned you money, then you are taking that money to pay it back, in hopes of getting another, Doesnt work That way I hope Im wrong. GOOD LUCK

 

3,323 Views
Message 48 of 118
Report

@LaDora I understand that if someone has a history of chargebacks that can be an issue. I had 1...just 1 in 5 years! My sales are up...I have plenty of repeat and new customers. But it is what it is...nothing any of is say or do will change a thing. 

3,193 Views
Message 49 of 118
Report

Hi there! I’m hoping you can give me some insight on my denial of my loan offer. I got an email stating I had been denied due to a failed debit. I got clarification that it was due to an error of my auto withdraw of the repayment of the loan that comes out at end of day every day. They said it didn’t get taken out one day and that I transferred funds too soon so it didn’t get debited in time. We have had several loans and have never had any issues ever. Normally I would just let it go, but I’m in dire need of this loan. My mother has been diagnosed with covid and is hospitalized, I’d like to see her just in case something happens to her. These funds would allow me to travel to see her and take time off if needed. Please take a look into my account and see if there is anything that can be done. We have had a great relationship with square and hope to continue doing so. Thank you for your time it’s greatly appreciated.

 

1,973 Views
Message 50 of 118
Report

I'm just curious, isn't the amount you pay them just automatically deducted before they give you your funds from sales

2,033 Views
Message 51 of 118
Report

Yes you are correct. But for some strange reason on 1 day they said the system failed to debit my loan payment for that day and that I transferred too soon. Very strange and kinda sad that we got declined due to an incident out of our control. They did say they would escalate the issue but no guarantee it would resolve the problem.

2,017 Views
Message 52 of 118
Report

Yes, that is strange 

1,997 Views
Message 53 of 118
Report

Paid off second loan, took about 11 months since we are seasonal.  Thought we would get another offer at about 80% paid but didn't get until about 3 weeks after paid in full.  As I said, we are seasonal and most of our payments are in 3-5 months of the year, so we were processing sums $400 or more, frequently, before receiving the offer.  Also, new offer was about $500 less than just paid off.  Was approved in less than a day.  Have had no issues with charge backs and always managed to pay minimum payments from processed transactions.

2,027 Views
Message 54 of 118
Report

Update!  We finally got an offer!  A lot lower than past offers, with 10% of daily sales deducted.  Was approved almost instantly after we accepted it..  

2,022 Views
Message 55 of 118
Report

Awesome! Were you 100% on your prior loan or did you still owe? 

2,019 Views
Message 56 of 118
Report

I was only 55% paid off

2,012 Views
Message 57 of 118
Report
Beta Member

Thats great news for you! I'm still waiting. I process much more than I did before, have new and returning customers, and I'm an essential business (cleaning supplies) so I don't get shut down by COVID. I would appreciate another offer. I have paid 5 loans off quickly. I don't know why they wouldn't offer me anything. Its been over a year!

1,966 Views
Message 58 of 118
Report

Where are you located?

2,014 Views
Message 59 of 118
Report

Eugene Oregon 🙂

2,007 Views
Message 60 of 118
Report

Two weeks today and no offer. Maybe my business picked up enough that I don’t qualify for a loan. I’ll update if I get an offer to keep you guys updated. 

3,409 Views
Message 61 of 118
Report

They already noted that that arent Guaranteed anymore, so hopefully you get one, Ive been paid almost 5 months, so 2 weeks is nothing lol, Ive had 5 previous loans, no issues    throwing-around-money.gif

 

3,392 Views
Message 62 of 118
Report

So I called and spoke to someone yesterday. Omg what a process to speak to a live person!! Anyway...I was advised "not to pay much mind to these threads most people are on here to complain" the ones who are being offered loans have no reason to come on here.  Anyway in the end I didnt get anywhere. 

3,282 Views
Message 63 of 118
Report