October 2025 Loan Offers

[shannong]

Hello! While I’m well aware loans can come at any time over 75% paid off on the current one, I do wish there was an easier way to predict when that would happen. 

my last one was 76% paid off and I received an offer. I’m currently at 78.5% paid off and nothing yet. 

Anyone seeing loans offered under 80% still? 

[Thetattooshop23]

I read something on here a few mins ago and it said that a customer resp told them over the phone that they are not offering loans at this time. I don't know how true it is, but if I do not receive an offer soon I will be moving to another company. I am on my 5th loan with square and everything looks good and higher then it ever has been when i received an offer at 67 % previous. Something is not right with square.  

[shannong]

I don’t think that is true. Customer service over the weekend told me they are still offering loans and they’d redirect me to the loan team but I haven’t heard back. 

[Thetattooshop23]

Yes I was told on Monday they would hear back with a resp from the loan dept in 24 to 48 hours and I still have not heard anything! They said it had been escalated and someone would contact me. Its just aggravating!  

[Thetattooshop23]

I am on my 5th loan with square and currently at 82% paid back NO LOAN OFFER YET! I check it constantly and i can see when they review it, but nothing comes of it. 82%, everything in the green and everything looks better then it did when i received my previous offer. I do not understand. I was at 67% when i got my last offer. Square has to do better. I have thought about swapping companies for my processing just because square is so unpredictable. Has anyone else been over 80% and still waiting like me ? 

[kacey_k]

I was 100% paid off for over 2 weeks before I saw my 2nd offer and at under 60% on my 3rd offer. Seriously no rhyme or reason

[Tamara3]

Where or how do you see if they receive your account? I have no clue how to do this… lol I should by now on my 9th loan with square (I believe it’s 9) but I didn’t even know I could see where they reviewed our accounts.. 

[Abby_M]

Hi @Tamara3 

Great question - I’d be happy to explain.

You can use the eligibility page located in your Square Dashboard to gain more insight into the status of your Square Loans eligibility. We take your business’s data and compare it to key factors that determine eligibility, such as processing volume, payment frequency, and account activity. If any of your eligibility factors need work, you can look at the tips we provide to strengthen your chances of becoming eligible.

Please note that there are many factors that may affect your eligibility, and accounts are evaluated as a whole. Do not rely on the information we provide in the Square Loan eligibility page to predict a loan offer. We cannot promise a loan offer, even where all of the factors on the eligibility page are “Good.” If you become eligible, you’ll be notified directly on your Square Dashboard and via email.

Please contact us directly, our Square Loans line is open between 8am-5pm PT Monday-Friday if you want to give us a call.

[Thetattooshop23]

I am at 82% and still nothing! my last offer i received at 67% 

[Hineshospitalit]

I still have nothing. I’m at 95% on one and 93% on another. The one at 93% will be paid off before it hits its first 2 month payment cycle. Something is seriously wrong at Square. My rep has even gotten involved and hasn’t been able to get any info. I’m starting to think square is capped on the amount of money they are allowed to extend. The only way any of us will get offers is when others pay theirs off releasing funds for square to redistribute. I just wish they would be honest with everyone. With holidays coming up and businesses looking to buy inventory it’s terrible customer service. While I understand why Square doesn’t want to admit there is an issue (because it will trigger many people leaving square) it’s still terrible business practice. 

[Minion]

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@Hineshospitalit wrote:

I still have nothing. I’m at 95% on one and 93% on another. The one at 93% will be paid off before it hits its first 2 month payment cycle. Something is seriously wrong at Square. My rep has even gotten involved and hasn’t been able to get any info. I’m starting to think square is capped on the amount of money they are allowed to extend. The only way any of us will get offers is when others pay theirs off releasing funds for square to redistribute. I just wish they would be honest with everyone. With holidays coming up and businesses looking to buy inventory it’s terrible customer service. While I understand why Square doesn’t want to admit there is an issue (because it will trigger many people leaving square) it’s still terrible business practice. 

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Hey @Hineshospitalit glad to see you are still here!  You maybe on to something as far as there could be a possible "cap" on business owners that are associated with a Square Loan, which would be a reasonable thing Square did, but there isn't a cap or Square waiting for others to make payments before extending offers to other sellers. I think @VanKalkerFarms can provide some numbers of Square Loans generated in maybe 2023 which is quite astonishing really. 

[Hineshospitalit]

Square has opened a Bank. I have a strong feeling that something to do with that is what has things all messed up. Owning a bank comes with tons of regulations. To be honest if square has no limit of money it can lend it should be offering long time customers loans any chance they get. The amount of money Square makes off this program is astronomical and I don’t think Square or any business would stop taking advantage of this revenue stream

[Hineshospitalit]

Btw, im waiting to hear back from my rep one last time before I start moving to another processor. I have a feeling I wont be here much longer because it seems as if no one has any answers, they dont even have vague answers. Its really terrible business not providing customers with any info

[VanKalkerFarms]

yeah, the loans are a problem because they aren't traditional loans where you present your business and ask for a loan. Almost all the other processors are algorithm based too as it just comes down to scale, and there would need to be 1,000s of loan reviewers.  No one is going to be able to tell you when you will qualify, that isn't a thing that is available for reps or help desk to see.

The last public data from Square has Square Loans facilitated approximately 136,000 loans totaling $1.38 billion in originations in just 90 days. and that is up 18% year over year.

These are just some amazing numbers if you just think in 90 days....  $15,333,333.33 loaned out on average per day.  1,511 loans averaged per day.  

That's an average of one $10,150 Loan every 57 seconds all day every day for 90 days straight no bank hours or games just loan after loan after loan.

Now do those numbers make you feel good when you aren't getting a loan, not likely.  But realizing this is an echo chamber of people complaining about loans and in the time I typed this 10 people got loans.

My advice, as I always have said, is the best thing for your business is to establish a loan or better yet a Line of credit or RLOC with a local lender.  For financial security of your company it is better and definitely it is better financially, and if financial issues is why loans are needed then borrowing more expensive money is just digging the hole deeper.

[Hineshospitalit]

This has nothing to do with financial hardship. I have regular loans at my bank. I’m in the restaurant industry and banks aren’t very friendly when it comes to loans for expansion in the restaurant industry. I’ve been with square since 2017. Bought, built and sold many locations. These loans are perfect for expansion construction and up front costs. I by no means use these for cash flow purposes. You can incorporate the cost of the loan into project cost. Usually I wouldn’t even be complaining but I was promised by my rep and the banking team I would receive new offers when I opened a new location in July. It’s the only reason I signed up the new business with Square. Toast had given me an onboarding offer and I was going to go with them. After speaking with the square team I decided to stay because they of course are the ones who helped me grow from 2 million annual in sales to almost 8 with the opportunity from the loans program. It’s the complete lack of transparency and information that needs to get addressed. Square has made a fortune off me over the years, I’ve been very loyal and sent atleast 20 others to do business with them. You would think they would atleast provide information 

[Adalynn]

Hi @Hineshospitalit !

Appreciate you taking the time to post and sharing your experience.

Please know that we are committed to helping your business succeed and understand that not being eligible can be frustrating.  We’re constantly working to improve our products and services based on the feedback we receive from customers. However, we understand that you need to make the best decision for your business and we wish you continued success.

Please let me know if there is anything I can do to assist.

[Hineshospitalit]

Square has been telling me for 7 years they are trying to improve the program yet nothing has changed. I’m still not sure how square can even attempt to say their algorithm looks out for the nest interest of the business. offering a 27k loan to a customer, charging them 3k yet your algorithm configured it so badly I’ll pay the ENTIRE 31k back in the first 2 month cycle  YOUR COMPANY IS LITERALLY TAKING THE MONEY BACK FASTER THAN I CAN SPEND IT. ITS INSULTING. Your algorithm obviously has MAJOR FLAWS. One would think you would put something in the algorithm that sets off an alarm when an offer is configured so badly. I won’t expect a reply actually addressing this issue because only AI generated responses or a response from a handbook is ever offered in response. I’ve promoted your company and have been very loyal as I’m sure many others have. The least Square could do is ACTUALLY READ OUR CONCERNS AND ADDRESS THEM IN THEIR RESPONSE. Many of your customers are expressing their frustration about the generated responses and have been for over a year. Obviously square doesn’t care about their customers concerns

[shannong]

So are loans being given before 80% or is it later now? I’m at 79% and still nothing. I really could use this for Christmas inventory to carry me through the holiday months. 

[Adalynn]

Hi @shannong, 

Thank you for reaching out!

Most sellers repay at least 75% of their loan before receiving a new offer, but it can happen at anytime. There isn't a certain percentage paid back of an existing loan that guarantees a new offer. 

However, your account is automatically reviewed daily to determine eligibility and If you become eligible for a new loan we will notify you!

Let me know if theres anything else I can assist with!

[Tamara3]

I agree 100% I have read a lot of these comments and I wasn’t too worried as I usually receive an offer well below 70% threshold in my 9 years with square but as of today I haven’t received anything and this year I’ve processed triple my previous years I’m almost at 4x the amount I process with square. 

Here are my details:

I have paid 79% of my current loan (total loan balance: $4,521; remaining balance: $936.69).

 I have had this loan for 3 months, and historically I receive a new offer once I pass 60–75%.

My sales have significantly increased, including a strong month in November ($18,689) and over $27,304 in the last 3 months.

 I have a positive repayment history, always paying early and never missing payments.

My processing percentage is 13.5%, and I have no chargebacks or account issues.

all green no disputes or chargebacks and records breaking income flows and not a peep on a new offer. Did you ever receive one?

[Premierhms]

Not sure what's going on with square but I got my new loan offer and it has a total repayment term of only 2 months my last loan was 6500 winch I paid back faster than my prior loan of 4500 I'm doing more sales than normal and everything is up compared to my last time and this is the loan offer they gave me

 

[Hineshospitalit]

When did u receive this. 60 day payback? That’s a joke