October 2025 no square capital loans available

[EstieChrys]

I was just told through chat on Square that there were no Square capital loans available at this time. I was super sad to hear this as I’ve been with Square for eight years. I have a friend who was just offered a Square capital loan five days ago so pretty bad that she has only been with Square a couple years and she got a loan but I can’t get an offer. I know others have mentioned leaving Square due to this, I have a sales rep from another processing company offer me free processing for the first 30 days and a capital loan after 30 days. My company has an opportunity to expand and get into a bigger facility, which would really grow my company and of course, revenue. I was hoping to still use Square because I have really enjoyed all the perks. But finding out now that they have no money to loan out to those of us that have been with them for a long time is disheartening. Anyone have any advice? My current capital loan is almost 90% paid so once I have that paid off in the next couple weeks I would be able to switch processing companies but again I’m really torn on what to do.

[Hineshospitalit]

This makes total sense. I figure that square was capped on how much they could lend and are at the max. Especially since the have opened a bank on the west coast. I’m sure the regulations are crossing paths. This will really hurt square because many like you and I will move on to another processor. .im at 95% and 96% on my 2 loans with square and use them for expansion also. We have really loved using square but business is business and Square should have given an announcement to its customers. This is terrible business leaving everyone in the dark. I’m sure Square didn’t want to announce it due to the mass exodus that will come afterwards. I gave them till tomorrow evening to give me an offer but I’m confident it’s not coming. It a shame because everyone in my businesses loves square and my local rep is awesome. Looking forward I’d look there might be big potential in buying stock in Toast, spot on etc. these companies are going to get a huge increase in business if all this is true. Square will be in big trouble

[EstieChrys]

I’ll have to look into those others if I don’t get an offer either. I’m going to try and hang on because my employees and I love square too, but missing out on this opportunity right now is a huge hit to my business. 

[marcyliz]

I don't think they were fully accurate on this -- there are definitely still loans being offered. I know a few people, and even on here just yesterday someone posted about their offer coming through before they hit 70%. So they are absolutely still loaning. But it seems like whenever we reach out to them the canned answer is basically "no loan offer for you, keep processing", or to just keep checking. That's my main issue with all of it, the lack of information for long time customers is ridiculous. I fully understand they are not guaranteed, but I paid mine off a week ago and have no new offer after the best year I've had so far -- so to just tell me "no offer for you right now, but keep processing!" is such a kick in the face because it gives ZERO information.