New Square Loan 2024

[SPPhotography1]

I’m at a bit of a loss for what else I need to do to be offered a new Square Loan at this point. I’ve been with Square for over 10 years, had 7 loans now that I’ve have paid back early every single time. Metrics are all in green, record sales year. In 2023, record numbers across the board, no refunds, no complaints or issues of any kind in our entire history. Current loan is 80% paid off, but no new offer in site. This is the kind of stuff that causes businesses to find someone else to process through! Please help! I’m sure I’ll get the same old excuses that you guys send to everyone about looking at every aspect of the business. But there isn’t a single aspect that isn’t way up. I’m not sure if there is a new process they are using now, or if there is some kind of issue with my banking or something else I’m not thinking about or aware of. Any help would be much appreciated. Thanks, because I could really use some new capital to start the year off with and reinvest into my business!

[Twpchair]

Yes, square is still doing loans. It has seemed to be a higher percentage paid back compared to the past of 70-75% range. Most are around 80% to completely paid off. Hopefully,  you have received yours by now. Good luck!

[CTC18]

Is anyone still getting loans in the 60% range? I’m currently at 60% on my 11th loan and have paid it back 4x as fast as the minimum due.

[Twpchair]

In the 60% paid off range I have not seen any one at 60% it's trending to the upper 80s to paid off. I'm sure you have received your new offer by now. I just wanted others to see the new range. Of course, it's not everyone but on the whole it's higher paid off. Good luck to you!

[moxiemavenandco]

Sitting at 62%. But seeing that someone finally received one has me much more hopeful than I was!

[CTC18]

Also sitting at 62% 😮‍💨

[CTC18]

Received an offer today at 78%. 🙏🏻 Now just waiting for approval.

[stanleycourtney]

congrats, I am at 90% and still waiting

[Twpchair]

Did you receive an offer yet? Fingers crossed for you!

[NRVGuru]

Just reached 90% as well, even if it's lower than our prior loan, a renewal would really help right now.

[stanleycourtney]

Same. I just hit 92% and nothing so far... I gave up on it a while ago. 

[gabbyrppmn]

Sitting at 82% and waiting as well. I wish everyone the best

[coolcoffeecrumb]

Congratulations!!! I'm at 84% and still waiting 😢

[moxiemavenandco]

Hi! I’ve been with square since 2018, and have gotten loan offers almost every 6 months (mainly bc that’s around the time that I’m usually at least 50% paid per the previous loan).  I was wondering if anyone has received a square loan offer in 2024 and what the algorithm is looking like. Any help input is appreciated. Happy 2024!

[sayra]

Hello, @moxiemavenandco. It's great to hear about your experience with Square since 2018. As for Square Capital offers in 2024, we are limited in account details on this platform. We recommend checking your Square Dashboard or contacting our Square Loans Team for more details. Wishing you a successful and prosperous 2024!

If you have more questions or need further assistance, feel free to ask.

[GoodBoyDogTrain]

Any one gotten anything or had any news this week??

[AllNewU]

Twice I have been offered a loan over 100k and both times I have been declined once I have accepted. My business is processing over 1M in CC with square yet they put the offer out then rip it out from under your feet. I was not expecting to be declined once they put an offer out for 186K. I wasn't going to take the full amount. I am tired of hanging around and being loyal to be able to use Square Capital. Isn't it supposed to be for working capital? I have a medical spa with multiple devices that are the prices of condos and homes. Everyone else is loaning me money. I don't really need square capital since there are so many offers to give me money. I believe it is time to learn how to use a new system that fits my business needs a little better. I am awaiting a call/email to tell me why they won't lend me the money they just offered to me. "You have been pre-approved!"  OOPS! So sorry to rip your heart out. Please go elsewhere for capital for your business.   I think I will go elsewhere for marketing, appointments, and the big one, the square processing!  My business deals with BIG numbers!  If you don't like the big numbers and they scare you I will go elsewhere! I am so angry right now because I started planning for this square capital loan. My last offer was Aug 2023 and the same thing happened. I was sure that this one was good because who pre-approves and then says no to a business in good standing processing over 80K a month? WTF!

[Twpchair]

I did about 3 weeks ago! I had 3 busy days and Saturday night a offer came in and I accepted it and Monday was in my account. Slightly higher than the last one in June. I was 81-84% paid off on my last offer and the one in June was 91% paid off. I don't have my bank account connected either. I can't I had ID theft last year and have passwords and pin numbers to get into my account and the system they use to connect to your account can't access it. If any of this helps! I'm seeing anywhere from mid 70% paid off to completely paid off before new offers. Good luck!

[SPPhotography1]

Can someone from Square Capital or Square Loans please manually review my account. I have been with Square for close to 10 years and I’ve had 9 loans with Square. I am 80% paid off on my current loan and should have had a new loan offer by now. ALL of my metrics and eligibility factors are in the green. My sales and customer number are all above normal. 2023 was a record sales year. There is absolutely no reason why I haven’t been offered a new loan yet from Square. Please just look into my account and view the numbers for yourselves and then offer me a new loan. I need it for business capital purposes and it would greatly help right now! Thank you!

[sayra]

Hello, @SPPhotography1. 

Thank you for reaching out to us. We understand your concern, and we appreciate your patience. We have combined your question with another seller who inquired about a similar matter. I encourage you to review the response we provided. Please know that if we had more details to offer, we certainly would. Your understanding means a lot to us.

If you have any further questions or if there's anything else we can assist you with, feel free to let us know.

Have a great day! 

[Movecrew]

Any luck? I've been with square over 10 years and and I'm currently over 80%.

[Crosstimberkoi]

Nothing here at 80% also.