thread Re: New Square Loan 2024 in Banking With Square

New Square Loan in 2024

SPPhotography1 — Sat, 20 Sep 2025 12:26:28 GMT

I’m at a bit of a loss for what else I need to do to be offered a new Square Loan at this point. I’ve been with Square for over 10 years, had 7 loans now that I’ve have paid back early every single time. Metrics are all in green, record sales year. In 2023, record numbers across the board, no refunds, no complaints or issues of any kind in our entire history. Current loan is 80% paid off, but no new offer in site. This is the kind of stuff that causes businesses to find someone else to process through! Please help! I’m sure I’ll get the same old excuses that you guys send to everyone about looking at every aspect of the business. But there isn’t a single aspect that isn’t way up. I’m not sure if there is a new process they are using now, or if there is some kind of issue with my banking or something else I’m not thinking about or aware of. Any help would be much appreciated. Thanks, because I could really use some new capital to start the year off with and reinvest into my business!

Re: New Square Loan 2024

SPPhotography1 — Tue, 02 Jan 2024 18:29:20 GMT

January 2nd 2024 and 80% of 9th loan currently re-paid. All metrics in green and had a record sales year in 2023 while exceeding previous years sales in every single month of 2023. Customer numbers and individual sales are all way up as well. Never waited this long for another loan offer, especially when we’ve been doing this well. I know many have been complaining about square capital (square loans) in 2023.. I’m not sure what has happened or if it’s just the economy and bank systems tightening their restrictions, but there is definitely an issue. I understand that Square is a billion dollar company, but for the amount of money that I and others give to square, they have terrible customer service and support. I am now in speaking with Clover Processing and am probably going to move forward with them if I don’t receive another loan offer very soon. Clover’s business loan process seems to be much simpler with clear cut requirements and easier access. I’ve been with Square for over 10 years and we’ve been as perfect of a partner as possible with not a single refund or complaint of any kind in all of that time, it’s terrible that we would have to leave, but for the sake of our business, we may need to

move on.

Re: I need to apply for a Square Loan

7767 — Tue, 02 Jan 2024 19:33:38 GMT

ive been a business member for August and have a good acount. I want to know why i havent been offered a loan? is it brcause i have a bank that my money transferes to and not square banking?

Re: I need to apply for a Square Loan

_Violet — Tue, 02 Jan 2024 21:13:07 GMT

Hi @7767 - Thanks for reaching out to the Seller Community to inquire about Square Loans 👋

I recommend looking over this Support Article on Loan Eligibility FAQs. If you have any additional questions about the process, you can contact the Financial Services Team by following the steps here.

I hope this information is helpful! 🙂

Square Loan Offer

SPPhotography1 — Wed, 03 Jan 2024 00:21:25 GMT

Can someone from Square Capital or Square Loans please manually review my account. I have been with Square for close to 10 years and I’ve had 9 loans with Square. I am 80% paid off on my current loan and should have had a new loan offer by now. ALL of my metrics and eligibility factors are in the green. My sales and customer number are all above normal. 2023 was a record sales year. There is absolutely no reason why I haven’t been offered a new loan yet from Square. Please just look into my account and view the numbers for yourselves and then offer me a new loan. I need it for business capital purposes and it would greatly help right now! Thank you!

Square Loans in 2024

moxiemavenandco — Mon, 08 Jan 2024 17:42:17 GMT

Hi! I’ve been with square since 2018, and have gotten loan offers almost every 6 months (mainly bc that’s around the time that I’m usually at least 50% paid per the previous loan). I was wondering if anyone has received a square loan offer in 2024 and what the algorithm is looking like. Any help input is appreciated. Happy 2024!

Re: Square Capital 2024

sayra — Wed, 03 Jan 2024 19:39:25 GMT

Hello, @moxiemavenandco. It's great to hear about your experience with Square since 2018. As for Square Capital offers in 2024, we are limited in account details on this platform. We recommend checking your Square Dashboard or contacting our Square Loans Team for more details. Wishing you a successful and prosperous 2024!

If you have more questions or need further assistance, feel free to ask.

Re: Square Loan Offer

sayra — Wed, 03 Jan 2024 19:43:14 GMT

Hello, @SPPhotography1.

Thank you for reaching out to us. We understand your concern, and we appreciate your patience. We have combined your question with another seller who inquired about a similar matter. I encourage you to review the response we provided. Please know that if we had more details to offer, we certainly would. Your understanding means a lot to us.

If you have any further questions or if there's anything else we can assist you with, feel free to let us know.

Have a great day!

Re: Square Capital 2024

Mkennedy25 — Thu, 04 Jan 2024 17:26:07 GMT

I’ve been with square for 4 years now and I’m always offered a loan between 70-90%. My factors have always been green and always ahead of repayment. I’m due for another offer soon, but there’s no certainty. My profile hasn’t been updated since 12/26/13. I could really use another offer for this year.

Re: Square Capital 2024

Laurenjop — Sat, 06 Jan 2024 12:29:20 GMT

Hello there; yes I’m currently at 64% waiting for a new offer as well for 2024.

I'm at 94%

ggbluejune — Sun, 07 Jan 2024 13:56:05 GMT

Hello everyone, I am at 94% waiting for a new loan offer so I can get more inventory. I'm continuing to swiping every day but have no offer, while I have someone who works in the same business with me and was offered at 70%.

I'm confused

Any one experience similar situation?

Re: I'm at 94%

TheRealChipA — Sun, 07 Jan 2024 15:33:53 GMT

Hi @ggbluejune All sellers are different. All Square Loan offers are different. Comparing another seller’s experiences to your will only serve to frustrate you, trust me. The loan offer algorithm is a black box that will send you and offer when it determines your are eligible for one. It has always been that way.

Square Loan offers are triggered by regular reviews of our accounts and activity and when the algorithm determines it is time for another offer, one arrives. There is nothing that we can help you do in the seller community, and Square employees won’t be able to accelerate this, either. For most of 2023 I saw lots of similar threads here where sellers had paid off their loans then waited weeks, if not months, for new offers.

I can offer some context, however. Even a cursory reading of economic news reveals that the worldwide lending market is being very conservative right now. All lenders are being very cautious about when they offer loans and especially how much they offer. With worldwide interest rates so high, all loans are very risky for lenders so they aren’t being as free and easy with them as they once were. This is a reality that is going to stick around for a while not just for traditional lenders, but for merchant lenders like Square. Hopefully we will see some loosening in the overall lending marking in 2024, both in the area of interest rates and qualification requirements. But regardless I expect that it will be a very slow process.

Sorry to be the bearer of unwelcome news, but at this point it is at least reality.

Re: New Square Loan 2024

Stefanieblue — Mon, 08 Jan 2024 01:50:29 GMT

I wish I had answers, but I’m in the same boat. I’ve been with square for about 12 years and the loans has helped my salon business in every way. I’m at 86% paid and no new offers in sight…I check twice a day but lately it seems like I have to be paid in full before any offers come… so I guess that’s their algorithm for most. Hopefully they are reading our comments and complaints I hope they know for those that’s been with square for over 10 years has invested a lot into them to keep them up and running…

Re: I'm at 94%

Brittany_SP — Tue, 16 Jan 2024 01:07:14 GMT

Same for me. My last loan I was offered a new one at 73% paid off. I’m at 80% now and still nothing. I’m not sure what’s changed or what happened but they keep telling me they don’t know and to look at your loan dashboard.

Re: I'm at 94%

Brittany_SP — Tue, 16 Jan 2024 01:13:26 GMT

I’ve been thinking the same thing because of the economy. Once I saw others weren’t having anymore luck at 80% I just had to prepare myself to move as if one will not come up, so then IF it does, it will just be a major plus and relief.

Square Loans

Citystarz — Wed, 17 Jan 2024 01:41:28 GMT

Been getting Loans with Square since 2020 and usually we payback very fast 3-6 months since we are a high volume processing store. Our last loan was paid off in October 2023 and no other offer since we are green across the board on both locations not sure what the hold up is. Really could use the funds for inventory asap 🙏🏻🙏🏻

Re: Square Loans

TheRealChipA — Wed, 17 Jan 2024 14:49:31 GMT

Hi @Citystarz

Unfortunately, there is no perfect answer to your question, nor a satisfying one. Square Loan offers are triggered by regular reviews of our accounts and activity and when the algorithm determines it is time for another offer, one arrives. There is nothing that we can help you do in the seller community, and Square employees won’t be able to accelerate this, either. For most of 2023 I saw lots of similar threads here where sellers had paid off their loans then waited weeks, if not months, for new offers.

Sorry to be the bearer of unwelcome news, but at this point it is at least reality.

NOW…… In a recent email from Square, there was this link about a new product called the Square Credit Card. It seems that Square now has two credit offerings — the traditional loan tied to our card processing volume, and a credit card also tied to card processing volume. Understand that I know nothing about this product at all. I was not involved in its testing phase, nor am I currently eligible as I have a current Square Loan which makes me currently ineligible for the Square Card. But, it seems to be an option. I’d recommend reading the information at the link I provided and clicking on the “check offer” and other links to see if it is something that is available to you if you are so inclined.

Good luck.

Re: Square Loans in 2024

DinaLRosenberg — Thu, 18 Jan 2024 19:04:22 GMT

We have an offer sitting. We have never once used square loans and instead have a line of credit with our local bank.

Re: Square Loan Offer

Movecrew — Fri, 19 Jan 2024 04:46:13 GMT

Any luck? I've been with square over 10 years and and I'm currently over 80%.

Re: I'm at 94%

Movecrew — Fri, 19 Jan 2024 04:50:19 GMT

Have you received a new offer yet? I'm over 80% now and just wondering.