thread Re: Loan eligibility in Banking With Square

Loan eligibility

Ctalley1970 — Sat, 20 Sep 2025 12:19:53 GMT

Do you guys think having my linked bank account, that is in the negative, is keeping me from getting a new loan offer? I’m at 90% + repaying 12,353 and I am on 5 th loan, usually get a new offer around 76% …I’m a one man Barber Suite trying to grow but I have been behind a little since July

Re: Loan eligibility

TheRealChipA — Fri, 01 Nov 2024 14:17:45 GMT

Hey there @Ctalley1970. Having a linked bank account is probably not the issue here. You see, for the past 12-18 months, new Square Loan offers have been coming much later than they used to. Also, many sellers have noted here that they completely pay off loans and then wait for a few weeks/months before receiving new offers.

This is more a function of the current lending market, than anything. Every lender is being cautious/conservative, especially when it comes to merchant cash advances, which is what Square is more or less. You stated that you have been trying to grow, but have been behind a little since July. Unfortunately, since card sales volume is the biggest driver of loan offers, if yours is flat or down, that usually causes loan offers to slow down. Square, like all lenders, doesn’t want to be on the hook by making offers that we can’t handle — at least according to our sales volume.

I wish you well.

Re: Loan eligibility

Sammie_C — Fri, 08 Nov 2024 22:16:15 GMT

Hi @Ctalley1970!

Thank you for your post!

We’ll only use this data to improve future offers. Connecting a bank or multiple banks is optional and will not affect your current eligibility status or loan offer if one is present.

Let us know if you have any other questions!