thread Re: Has Anyone received Square Loan offer in 2022? in Banking With Square

Has Anyone received Square Loan offer in 2022?

TheMercantile — Sat, 20 Sep 2025 12:33:14 GMT

Has anyone received a square loan offer in 2022? For some reason it says I’m ineligible, however I was just offered 100k in Nov. I turned it down because the payback rate was 17% so that means with a good Dec, they would’ve taken $51,000 of my profits in just 1 month. I did a thumbs down on the offer because of that. Does rating the offer poorly take me out of receiving offers?

Re: Has Anyone received Square Loan offer in 2022?

Minion — Tue, 15 Feb 2022 11:50:37 GMT

No rating it shouldn't be taken into consideration. But I believe loan requirements/eligibility resets every year IIRC. Have you met the 10k in CC sales in 2022 and all other normal requirements?

If you process high limit monthly sales, your APR will always be high, as you won't need the 15 months to pay back the loan, and you could probably benefit more from a business line of credit or traditional loan. Just my .02.

Re: Has anyone received a new Square Loan offer in 2021?

jules72 — Fri, 18 Mar 2022 21:59:48 GMT

Hi @Itislv,

We understand that not being immediately eligible can be frustrating.

There are other factors of your business that are also reviewed to determine eligibility. Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential eligibility for loan offers.

There is no specific information we can share at this time because eligibility is based on a unique formula, but keep in mind that we evaluate accounts as a whole. We balance different factors of your business that may positively and negatively affect your business’s eligibility for an offer. To learn more about Square loan eligibility, visit our Support Center.

If you become eligible again, we’ll notify you directly through email and your Square Dashboard.

If you have any other questions, please feel free to contact us directly.

Re: Has Anyone received Square Loan offer in 2022?

Dcjones73 — Thu, 07 Apr 2022 12:58:05 GMT

I was wondering the same thing. I was so proud that I paid off my loan early. Now I need an exhaust system put into my building and I was hoping to get a new offer to help with the cost but it says I’m not eligible at this time. My sales are up so how do I not qualify. I’ve been using Square for over ten years and I’ve never had an issue paying back my loans. I ate paid them back on time or ahead of time. It sucks that you can’t request a loan.

Re: Has Anyone received Square Loan offer in 2022?

Candlestore — Thu, 07 Apr 2022 13:28:00 GMT

I get different offers every Monday. It is based on your weekly Credit Card sales Processed through Square. Depending how well you do in a week depends on the offer. My offers for my slow time of year (now) range from $0.00 to $16,000. Last week was $9250, this week $0.00. During my busy seasons my offers go up to $30,000 plus. I have not taken a Square loan because of the 17% off the top Square takes with no limit. Like you pointed out 17% or $51,000 for a month, 1 month into the loan, would have had you about 50% paid off, depending on the fees for that loan. But to answer your question about the Thumbs down, no this should not effect you getting a loan offer.

Re: Has Anyone received Square Loan offer in 2022?

RL35 — Wed, 13 Apr 2022 07:18:26 GMT

17% is not interest. Its the payback amount. Its the amount they take out from each transaction. There is no APR or intrest on these loans. Square charges a flat rate thats added onto the loan. My loan was for $6500 and they charged $800 loan fee and 16% is taken out from each transaction to payback the loan. You would need to have made over $300k in sales in one month to pay $51k back to your loan but your loan would be 50% paid off. And if the 2nd month was the same amount, your loan would be almost paid off in 2 months and you would most likely get another loan offer.

For me, its nice to get a large amount up front for big purchases. Then Im able to pay it back usually within 4 to 6 months and get another offer. Before covid, once i got to 60% loan paid off, i would get another offer. i would plan my business expenses when i was close to 60%. But now, my offers are coming at different times. One time it was 100% loan paid off, another at 50%, and now im at 70% with no offer even tho square says im good in all areas.

I love these loans cuz i dont have to remeber to pay the monthly payment and theres no APR. I wish i could pay all my bills like this. One less thing to think about.

Re: Has Anyone received Square Loan offer in 2022?

ianssoph — Mon, 25 Apr 2022 01:57:30 GMT

I have always received offers between 60%-80% paid back. They don’t give you their exact algorithm for offering a loan, but if you login to your dashboard they now give you more insight as to why your business hasn’t received another offer yet. It basically goes off how much you are processing and the mix of new to old customers. Best of luck to you! I am on my 10th loan and the offers always exponentially increase for my business.

Re: Has Anyone received Square Loan offer in 2022?

Stefanieblue — Sat, 14 May 2022 22:47:06 GMT

I’m at 86% and no offer Insight… what percentage was you at on your last offer? On my last loan offer I had to pay it in full before this offer

Re: Has Anyone received Square Loan offer in 2022?

jennwd2021 — Sat, 14 May 2022 23:52:49 GMT

Yes, but super low ones, and they vary all over the place even though I have consistent daily sales.

Re: Has Anyone received Square Loan offer in 2022?

ianssoph — Sun, 15 May 2022 23:10:40 GMT

My 8th loan was 70% repaid and my 9th 60%. My current loan is at 62% repaid with no new offer yet.

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Tue, 24 May 2022 20:43:16 GMT

I feel the same way I swear 100 percent done meeting all requirements and no offer it’s very disheartening always paid my loans off

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Tue, 24 May 2022 20:47:42 GMT

I’m completely done with my loan have made several new clients no chargebacks great loan history

Re: Has Anyone received Square Loan offer in 2022?

Stefanieblue — Wed, 25 May 2022 20:04:23 GMT

When was you done with your last loan? And how long ago has it been?

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Wed, 25 May 2022 20:17:39 GMT

I believe the 18th I finished hopefully soon

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Wed, 25 May 2022 20:19:48 GMT

About A week

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Fri, 27 May 2022 01:03:38 GMT

I actually got an offer yesterday

Re: Has Anyone received Square Loan offer in 2022?

Candlestore — Fri, 27 May 2022 18:11:08 GMT

@TheMercantile ; It should not take you out of getting offers since the offers are based on you Credit Card Sales. You need to have roughly $10,000 a year (edited after accidently posting wrong time frame) in Credit Card sales that are processed through Square. I get loan offers from Not eligible during slow times to just about $30,000 during my busy season. Square has some formula that automatically generates the loan offers that we see on our Square Dashboard.

Re: Has Anyone received Square Loan offer in 2022?

Ralphael84 — Fri, 27 May 2022 04:10:10 GMT

10,000 per year

Re: Has Anyone received Square Loan offer in 2022?

Candlestore — Fri, 27 May 2022 18:10:24 GMT

oops my bad, I thought I read before it was $10,000 a month but I stand corrected it is $10,000 of Credit card transaction a Year. I will edit my previous reply. Thank you for letting me know.

Re: Has Anyone received Square Loan offer in 2022?

Doran — Fri, 27 May 2022 18:56:39 GMT

I turned one down in November for the same reason and then accepted one in January. It was for a lower amount but it helped during the slow months. I noticed you can now go into the Square loans tab and see your "loan health" it gives insight on eligibility and loan previous loan stats. That section might help you see what is holding you up from an offer.