thread Re: Is SBA replacing the Square Capital? in Banking With Square

Is SBA replacing the Square Loans?

RadioMcG — Sat, 20 Sep 2025 12:40:36 GMT

We haven't received another loan offer - which I find odd because we are 100% paid off on the last one and typically see an additional offer at 80% or so. All numbers are significantly up as well. Has anyone else noticed no offer? Or am I just stuck in unknown algorithm for now?

Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

BrandyBoozer — Sun, 29 Mar 2020 01:00:13 GMT

I have had many loans through Square and I have currently paid down 81% of my loan and never had to be paid this much to receive another offer...Are you still giving loans through the COVID-19 pandemic?

Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

Kassi_ — Mon, 30 Mar 2020 12:33:39 GMT

Hey there, @BrandyBoozer -

Right now, we’re evaluating all options to support sellers, but have nothing new to announce at this time.

Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

Katiegironda — Mon, 30 Mar 2020 13:39:30 GMT

It is very disappointing that square has chosen not to be transparent with their customers during this time. My business has been quite busy since the pandemic and square even cut me off from any offers. After I’ve had 7 or 8. I’m not in dire need but I am frustrated for those that are and the unwillingness to be transparent. Just say “we aren’t offering new loans right now because of the pandemic.” Simple. Instead of making your customers hopeful and left waiting in their most desperate time.

Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

Teddykapka — Mon, 30 Mar 2020 14:51:08 GMT

I agree we have always been on time and we got a loan offer less than 20 days ago and now it’s gone,that’s not helping people at all!

Re: Is SBA replacing the Square Capital?

ecantiques5 — Fri, 24 Apr 2020 13:13:57 GMT

@RadioMcG

To my knowledge there has not been one Square Seller to post on any thread recently that they received a Square Capital Loan as they have in the past. Not ONE. Regardless if Seller in good standing & algorithm eligible. In fact sellers that had loan offers showing on their dashboards had their offers to disappear.

I would love to have the reassurance of having one seller to post that they received a sqaure capital offer on the normal algorithm eligibility. Anyone???

Re: Is SBA replacing the Square Loans?

Regina_B — Tue, 20 Jul 2021 15:37:46 GMT

👋👋Hey @RadioMcG and @ecantiques5

Thank you both for your posts. Regina from the Square Loans Team here. Given the current economic challenges facing many small businesses, we’ve had to reduce our Square Loans loan offers to uphold our mission of responsible lending. To help our sellers through this time, we are working with sellers who need payment relief on existing Square Loans loans outstanding.

Though we may not be able to extend a loan offer through Square Loans right now, teams across Square are unveiling new ways to support businesses’ need for cash flow, and our team is extremely focused on bringing the SBA’s Paycheck Protection Program to our sellers. We also have a dedicated team researching new resources and are updating this list weekly. Here’s the link: Square Loans COVID-19 Business Financing Resources Support Center article.

For more information about PPP, please take a look at our FAQ. Thanks again and take good care.

Re: Is SBA replacing the Square Capital?

murrietaPC — Fri, 01 May 2020 00:03:31 GMT

This is the first time iI read square employee admitting what we knew all along

I know local people still getting Paypal working capital loans, I would have never expected Paypal to do better than Square to be honest.

I used to process with both and then decided to stick with square for my local needs and Paypal for Ebay ( minimal action for me there), I reveived and paid a couple of loans there, and so far, sucessfully paid 12 loans with Square and the last one was paid 6 months in advance, just to end up with no offers.

Guess who will start using Paypal processing more starting today..... 😉

Re: Is SBA replacing the Square Capital?

Joe — Fri, 01 May 2020 14:09:36 GMT

We appreciate your honesty, @murrietaPC - and we do also understand that you have to do what is best for your business during this uncertain time.

We hope to be able to bounce back here soon with regards to helpful updates about Capital Loans and new offers. Until then, feel free to reach out if you have any specific questions. We are here to help!

Re: Is SBA replacing the Square Capital?

RadioMcG — Fri, 01 May 2020 18:35:11 GMT

My issue is I am still working to submit taxes for 18 & 19 (which is my issue of course, not yours) but it doesn't help me right now in terms of using SBA or PPP. So it is a real bummer that with my business currently having the best 2 months I have had with all numbers up, that capital isn't here to continue to help support this new growth. Missed opportunities.

Why is it that Capital wont give me another loan

Leeann4 — Sat, 02 May 2020 18:23:21 GMT

I’m taking five loans out from them I am 74% done with this loan and they will not do another loan I’ve asked after day trying to get through this pandemic but nothing

Re: Why is it that Capital wont give me another loan

murrietaPC — Sat, 02 May 2020 19:15:00 GMT

One of the square employees that admin tis forum confirmed that they are not doing any loans at the moment

Re: Is SBA replacing the Square Capital?

ecantiques5 — Tue, 05 May 2020 01:40:39 GMT

@Regina_B

Like other fellow sellers that have been forced to expend energy trying to get what the common folks call a " straight " answer, thank you for posting the Square response. When the capital offers to eligible sellers started vanishing from dashboards it would be understandable that to protect Square's interest you would pull those offers. There was imminent uncertainty that the eligible at the time seller might not be able to produce revenue to support payback percentages.

Here is what Square has offered during this situation.

Videos on social media of sellers giving advice, strategies or asking for donations.

Refunding of certain monthly subscriptions( not real sure of which ones or what the actual monetary offset for sellers this translated to) But at best a minimal offset

Deferment of required monthly payment percentages via automatic debits to linked accounts. (There was great confusion that many sellers actually thought Square was waiving %'s on all processed capital repayments during this situation) but no the relief was only for capital payments being auto deducted from your linked account.

6-8 weeks into the crisis & one full round of the SBA program had been exhausted, Square was finally approved to be a facilitator for PPP. Only for many sellers to apply through Square and have Square calculate much lower eligible amounts than what sellers would be eligible for if going through their business bank( direct link to SBA).

We applied to our local business bank with the same documentation about 5 days before Square sent an " invite " to apply. Square encouraged sellers to apply with both( not sure why) I was shocked when the PPP calculation from Square was drastically lower than what our local bank calculated directly through the SBA.

Thank God our Bank got through for us first & secured the true actual amount we were eligible for. A couple days later Square sent an email stating that even though Square had approved our application the SBA already had a request for PPP for our business.

So here we are.... working with square since 2013 still selling, still producing, 93% paid back on #10 square capital loan. Square via Regina indicates they stopped the capital program to ensure "responsible lending". But Square Capital has been horribly irresponsible to it's RESPONSIBLE sellers. Thought it was always a black & white algorithm guys( keep processing, keep clients, get new clients, no chargebacks, no failed debits) ??? No...you just do what works for you. Its not fair its not right, and it will, I hope, be rectified by sellers in turn seeking processing that at least rewards consistent seller efforts. Even more so in a event like businesses have encountered this year.

Re: Capital

HomeHearts — Wed, 06 May 2020 15:40:47 GMT

Thank you @Regina_B for your response. I really hope square can find some solutions for businesses like mines very soon. Yes, we are aware square look over everyone's account and if square determines they are eligible we will see the offer in our dash board; however, during this time how do we know square will actually offer any more capital loans? This is a question I wanted clarity with.

Re: Capital

ashc — Wed, 06 May 2020 16:17:40 GMT

Hey @HomeHearts,

I moved your post to an existing thread where @Regina_B answered this question so you can check our her details here!

Re: Why is it that Capital wont give me another loan

jaechandler68 — Wed, 06 May 2020 18:52:56 GMT

Can you copy and paste their reply?

I received small ppp offer if I accept this will i still be offered square capital offer

Ceemee — Fri, 08 May 2020 04:24:42 GMT

I have been offered a ppp small amount. I was wanting to know if i accept it will it affect if square capital should offer me a Capital loan again? Can anyone help with this question?

Square Capital offers anyone

StylebyMalia — Sun, 10 May 2020 21:16:57 GMT

Has anyone gotten a capital offer since Covid19 Started. Not a PPP loan I don't want. I would rather the capital loan with transaction repayment

Re: Square Capital offers anyone

LDBH — Sun, 10 May 2020 22:10:32 GMT

Nope, I paid off my last Square Capital loan completely on March 9th and have not received any new offers. Successfully completing 2 loan programs prior to this pandemic and still doing about $65k monthly sales during Covid-19 doesn't seem to matter. I think they stopped doing loans completely due to economic uncertainty.

Re: Square Capital offers anyone

ecantiques5 — Mon, 11 May 2020 12:36:16 GMT

@StylebyMalia

Unfortunately Square Capital with the usual amount of not being upfront, ended the Square Capital Program, without warning, even retracting loan offers on the dashboards of sellers that were algorithm eligible. They yanked the ENTIRE program. Regardless if

You were in good standing

Still processing revenue ( in midst of covid)

New customer/ customer retention

No charge backs/failed debits

Several successful loans in the past

Paid back in full or at a high repayment percentage (80%-100% payed back)

I have been with Square since 2013 and the way they conducted themselves during this experience has ruined my confidence in our business to business relationship.

I wish you all the best in moving your business forward.