Square loans 2026

[moxiemavenandco]

Hi! I am currently @ 49% paid of my 8th loan with square. Typically offers have come in at around 50-60% since. I have seen a few people mentioning that they now do a soft credit pull and am wondering if this pertains to personal credit or business credit? 

[HeavenlyLawnSvs]

Yes and for lawn care is very normal for fall and winter to drop in sales. Not to mention mostly Walmart and Amazon making all the money around Christmas. I think this is my 3rd year. Last year was incredible..... doubled my square income processing. Yes and exactly most of the time just leave the money in the bank from the loan providing financial peace of mind and it's there when the business needs it. Good luck 🤞 to you and God bless your business 🙏

[Twpchair]

Thank you! You as well. PS, I don't have much patience when it comes to waiting. It's like watching a painting to dry 😂

[HeavenlyLawnSvs]

Hahaha 🤣 

[Twpchair]

Not always, but usually on the norm: loan 1-4/5 are usually out-of-the-blue offers. The algorithm essentially tries to figure out your processing habits to fit you with the proper size based on your history. All loans, how fast you're paying them off with sales, new customers vs regular customers, and how frequently you're taking cards, and the dollar amount. Loan 6 for me was my largest, and from there all increased as my sales and time with Square/years continued. 10 years and zero disputes, but I do have a clear zero-return policy posted. I'm a retail furniture store. I fill out all factory warranty policies when they purchase a new kitchen table or couch. They sign it, and I mail it out. 75% of customers never fill it and return it. Their warranty is anywhere from 10 years to life. I can't beat that. When we repeat, keep swiping, and try to increase the dollar amount, we get new customers, which all equal a healthy and growing business. History and the ones I mentioned are exactly what are helping the algorithm kick in and take a second look at your account. You have more than tripled your sales in 3 years. Those are amazing numbers. IMO, I don't see any questions or concerns about you receiving another offer; it's just a matter of when, and nobody can crack that algorithm yet! 😆 

[HeavenlyLawnSvs]

Exactly and I think my next offer would be number 6 . It's just slows down in the fall and winter. I still keep a decent amount of recurring revenue all year but the clients that only like spring and summer service those drop off in November and return in March. I'm sure it will happen... square makes money from the loan. I have clients they have remained recurring payments bi weekly for probably 3 years now. So I feel positive once all these newest spring clients attach a credit card on file and algorithms hit just right it will send an offer. I will keep y'all updated soon as I receive one. Just to keep everyone informed and positive experiences with recurring loans. 

[VanKalkerFarms]

Great that the loans have been working out for you.

 I think that one thing that gets lost is the big picture of Square and specifically Square loans.  They are dealing with millions of users and giving out more than 1,500 loans a day.  during the last public quarterly stats on loans (not Square Cash loans those are seperate) they had 136,000 loans totaling $1.38 billion in originations in 90 days.  THat is a lot, more than a person can wrap their mind around vs their one business in the sea of millions of users.  Many think they are giving out 1 or 5 loans a day but it comes out to more than 1 every minute.

Glad to see someone posting here happy instead of the usual if Square won't give me money I am leaving type posts.

[Mpechlys]

Exactly lol, every time I see some one post I’m leaving square etc etc I just be like another one lol

[HeavenlyLawnSvs]

It's like they blackmail....hope square sees my comment lol need a loan or I'm switching to stripe 🤣

But I get it tough times call for tough measures.

I definitely am not going anywhere I have way too many clients in the system to turn away. Patience is key 🗝️ 

[HeavenlyLawnSvs]

Yes of course I love square I know it's a business and they have to make money just like we all do. I'm pretty positive my sales are going to be triple from March 2025 last year. I bet once the algorithm sees that.... it's going to issue an offer. Lol 🤣 they wait til they see big bank cause they want in on it too.

[Twpchair]

Thank you so much for the stats. I always forget to do it. It helps to put things into perspective. Nice to see you back here, thank you!

[BG77]

Stats and data would be very helpful. It at least gives us an idea of what’s going on instead of leaving us wondering and guessing. I myself started to question if Square was even still giving loans so this data is good to see. 

[Twpchair]

Transparency would be amazing! We only see the ones who post here, and they are always looking to see what the average is. Yes, Square has increased loan sizes and numbers. We're all a small splash in a big pond. We do help each other stay informed, and that's why this forum is so important and helpful.