How long does square take to give you your second loan?

[Juney]

• Hello! I’ve been using square for about 6 months now, during using square I was offered a loan and credit card in which I took both. I payed off my loan through daily card sales in around a month and a half,(6days from now). Now I am not dependent on this loan but it was a cool help to the business although it wasn’t very significant, but it would be nice to know, when other businesses received their second loan after finishing their first. 

[Minion · Accepted solution]

I can't remember exactly numbers but I want to say it was sometime around the 30-45 days.  I don't do a ton of daily transactions, but have high average sales per user.

[Juney]

Thank you!

[Abby_M]

Hi @Juney 

Thanks for taking the time to reach out to us.

The Square Loan program is currently offered by invitation. Currently, offer eligibility is based on payment processing data, which means eligibility can change as frequently as your business does. Loan processing data includes your processing volume and your processing history, such as failed debits, chargeback history, and changes to your processing behavior, among other factors.

At this time, we can’t predict if or when your business may be eligible for an additional Square Loan, however, we will continue to monitor your account for eligibility. 

Feel free to reach out to us directly if you have any additional questions!

[Juney]

Thank you! Appreciate the feedback!