Loans

[JW10]

85% of loan is paid. Sales are over 220K this year-to-date. No new loan offer. Good sales mix and stellar history with square. Not a huge deal for me but curious about other options if square doesn't offer a loan soon. I like the ease of using square which is why I have been open to the rates. It's a very user friendly payback system. Are they requiring the entire loan to be paid back these days?

[Minion]

HI @JW10 

Based on other users from this thread , the loan offers seem to be a bit higher % paid back for the majority.  but you are also seem to be right within that % so, it really should be any time from now on I would safely assume as far as a new offer. 

I think it has a tad bit to do with the amount remaining also, not just the %.  But that's just my assumption.  I stopped trying to figure out squares loan system many moons ago haha.

Best of luck though , and hopefully soon a new offer will arrive for you. 

[marielmt · Accepted solution]

Hi @JW10 ! Thanks for posting on the Seller Community.

Great question - I’d be happy to explain.

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. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing loan balance.

Keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer.

Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact potential future offers. If you become eligible again, we’ll notify you directly through email and your Square Dashboard.

Hope that helps, please feel free to reach out to us directly if you have any other questions!

[Dvcarwash1]

I was in the same position as many of you, and I want to offer a bit of encouragement. I had successfully paid off 86% of my 10th loan but had yet to receive a renewal offer. In the past, I typically received renewal offers when 65–75% of my loan was repaid, so reaching 86% without an offer was concerning, especially as funds were getting tight. However, out of nowhere, I logged into my dashboard and saw an offer waiting for me. While it was about $20,000 less than my previous loan—admittedly a bit disappointing—I was grateful to secure funding, especially in today’s tight lending environment.

My intention isn’t to boast but to reassure you that loans are still being offered. If you’re waiting on a renewal, hang in there—your offer will come!

This is just my personal observation, but I believe one factor Square considers is engagement within the Square community forums. Actively participating—whether by answering questions from other sellers or making posts like this—might demonstrate your involvement with the Square community. Of course, I could be wrong, but it certainly doesn’t hurt to engage.

Wishing the best of luck to everyone waiting on a new loan or renewal—your time will come!

[Twpchair]

Very nice!😊 

[Tashascloset]

That's a lot for a loan I've had two so far how long do they give you to pay the fort one was two months the second was one month 

[EcoAutoClean]

Ive been doing Square loans for quite sometime -  I've received an offer at 38% paid...this is probably the least I've ever paid before getting a new offer. Tempting but my goal is to pay it off completely as soon as I can.