How much of existing loan usually needs to be paid before getting another offer?

Loan offer

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Square Champion

Usually, at least 3/4 of the previous loan is 75% or higher to be completely paid off. With no guarantee of if or when all you can do is watch your email and dashboard. I wish I could tell you more than that unfortunately that's why coming here and reading through the threads gives you other timeframes to kinda gauge any trends. Most are 80-90% paid back range to completely paid off. A few pop in around 70% not many though. Good luck and please keep us posted!

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Community Team

Hi @Littleblue2 

 

Appreciate you taking the time to post.

 

New offers are not automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. I also notices you were recently approved for a new loan Congratulations! 

 

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

Abby_M
Square Loans Team
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This is a service email from Square Financial Services, Inc., a wholly owned subsidiary of Block, Inc. All loans are issued by Square Financial Services, Inc, a Utah-Chartered Industrial Bank, Members FDIC.
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Square Champion

When thinking about loans and offers, the best practice (IMO) would be to just assume you need to pay back 100% of the loan before another offer would be possibly extended

Dan
CoatingWorx
Square Super Seller
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