Question about Square Loan Minimum Payment

nsi7301 — Sat, 20 Sep 2025 12:23:12 GMT

Hello

First, thank you for taking your time.

Currently, 20% of the daily credit card transactions are being paid towards the Square loan. If 50% of my Square loan amount is paid off, can I change the remaining 50% of the loan amount to only make the minimum payment every 60 days and then pay off the remaining loan amount on the last day of the loan term?

If possible, anybody knows how to do it?

I emailed square and called the customer service but nobody answered.

Please, let me know

Thank you

Re: Question about Square Loan Minimum Payment

TheRealChipA — Sat, 22 Jun 2024 00:18:32 GMT

Hi @nsi7301. According to the loan agreement, the terms of the loan can not be changed like this. The daily payment rate will be applied to all sales until the loan is paid in full. Also, if the minimum amount is not made every two months by daily repayments, then the balance of that minimum payment will be deducted from our balances per the loan agreement. This is one of the drawbacks of loans (really, merchant cash advances) like this.

Having said that, it is possible that you could reach out directly to the Loans team. Here’s a link to that contact information. I do not recommend email but rather that you make the effort to call them and speak to someone. I’ve heard that they will work with sellers who can prove a financial hardship, sometimes. But understand that this flexibility — if it exists — usually is not granted just because we want to pay less than what we agreed on the schedule we agreed to. The few cases I know that terms were changed involved provable and severe financial distress. Still, it can’t hurt to try.

Good luck.

thread Re: Question about Square Loan Minimum Payment in Banking With Square

Question about Square Loan Minimum Payment

Re: Question about Square Loan Minimum Payment