I'm on my 10th Square Loans plan, with the most recent one coming in March (I was at 80% completion). In less than 5 months, I'm at 70% completion. Sales are up nearly 40% over last year, and I've grown steadily each year for the last 5 years. I believe I'll get another offer at or around 80%. I'll report back when/if that happens to put some of you guys at ease. 

Square Loans really is a great program. I'm not sure why some of you guys don't get offers, but I do know the one time I paid mine off early, it took a month or so to get another offer. My suggestion is to NOT pay it off early. 

Cheers.

Great! I’m not sure either, my sales are also up, I’m on 5th loan paid since March 2018; I’ve never completed a loan fully as all my offers have come 70, 80, 85%, but this last one was paid in full. So clearly Something has changed....great news for you though; congrats! 

@Soulsquad do you have more returning customer percentage than new customers?  I currently have more on my new customers according to square.  In the past when I got offer, I had more returning than new.  Just trying to determine if that's what's holding up an offer.  I didnt do anything different and yes my sales are a little bit up but not significant because I increased some of my prices. No chargebacks, paid the last loan in about 5 months term which is not anything different than the past. So I'm just wondering if my new customers are outweighing my return customers enough to put me out of their algorithm.

I don’t think the returning/new customer ratio makes any difference. My ratio is wayyyy lopsided. I believe last month was 93% new, 7% return. And on average, I do between [Personal Information Redacted] a month in card transactions. I’ve cracked their code on how they decide the amount and when to offer, but without knowing all of your personal details, I don’t know why you haven’t gotten offers. Mine have come in like clockwork, and I basically know the amounts before the offer even comes in.

and yes, they’re still loaning. I put my brother in a truck and on the road back in Feb. He has his own Square account and manages his own customers, but under our same brand name. He got an offer a few months later. He’s now around 65% completed with his first. 

Can I ask what the code is you cracked? [Information Redacted] Am I on the right track you think with "cracking the code"? [Information Redacted]

It has nothing to do with daily transactions. Some days I run 1 or 2 transactions, other days I might run 7-10. It’s all about total sales. They offer 10% of what you’ve done in the last 12 months. If you’re up, your offer will always be higher than the last. If you’re down, you may not get an offer at all. But I think I’m on #10 or 11 now, and 50% completed. So obviously I’m doing something right! 

Just keep up the hustle and let everything else take care of itself. 

At what percentage do they offer you a new one typically? You said you knew when they would give a new offer.

I'm at 66% complete, my last offer came at 71%.

Mine don’t come at a certain %, as that has varied from 70-80%. One time I got an offer at like 52%, another time I was at 100%. The only time they made me complete one is because (I believe) I was making prepayments. 

Typically I get an offer in April, and an offer in August. The spring loan is paid down faster due to tourism. Also, I don’t typically take the highest offer. I like to keep the fees under 15% total. Meaning capital + standard fees. That way on say, a $100 job, I clear $85. 

10th!!?? Wow! You must be doing something right! Renewals usually come for me at 78%. I'm at 90%...nothing..nada. I no longer have high Hope's. Definitely keep us updated!

I’m here to report, this morning I got my 11th Square Loans offer! I was at 77% completion and this was my highest offer to date. I’m really not sure why some of you are having issues, as my offers come in like clock work. 

Thanks again, Square Loans!

@locksmithnick Congratulations! Now I'm jealous as I'm still waiting 🙂

Hi! I'm on my first loan with 75% paid back I have almost doubled my sales since last year and I don't have any charge backs. I did email the guy said he looked and I'm not yet elogelig and he can't say when or why I could be for a second loan. I'm definitely trying to keep the faith! 

Just update guys.  I received an offer last night which is a little bit  higher than before.  It was approved this afternoon. I was paid off 5 weeks before the offer. 

Thank you square, I appreciate that, now I can prepare for upcoming holiday.  I almost went for another loan but I stopped after I calculated the amount I’ll end up paying. Which is why I end up not posting the link as I said on my prior comment.  Square Loans still has competitive fees out there. Just hang tight.  

That's awesome congratulations!! 5 weeks though wow...something has changed. But what a nice surprise huh? 

I’m on my 77% completion from August. Hopefully I can follow @locksmithnick trail and get another offer. 

How many plans have you done? I’m not sure it makes a difference, but I’m sure when I’m being evaluated that the amount of time I’ve been with them plays a part. I’m sitting at 63% right now of my 12th (I think) plan. #’s are up, so I wouldn’t be surprised if I received another offer by the end of the month. 

Just keep working and it will all take care of itself! 

I’m just on my 3rd but the last one was bigger loan than usual. So even with 77% completion, my balance is still high enough. I normally get offer around end of February and end of August. Not sure why my second loan had to be completely paid off before I got another offer. 

Just to give an update.  I received an offer yesterday with 80% completion and was approved today. 

How long after you hit 80% did they give you one? I went from 66% complete last night to 84% today, so curious if they will offer another.