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? 

[Abby_M · Accepted solution]

Hi @moxiemavenandco 

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. 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.

Don’t hesitate to contact us directly if you have further questions or concerns.

[BiB]

I hope in comes in time for you and it takes away the stress! Being a small business owner there are already so many stresses. Good luck!

[addisonsgrace]

Thank you 😊 🫶🏽🙏🏾

[Movecrew]

Did you finally get a offer?

[BiB]

I haven't. Paid off a little more than 2 weeks now. ☹️

[BiB]

Any one get any offers this week? I was thinking I might get one since I was able to negotiate my processing fees down due to volume but it doesn't look that way.

[addisonsgrace]

I’m 85% today and I haven’t seen anything 

[Twpchair]

I saw 2 on different loan threads. Both upper 80-90% less than the previous offer but they did accept it. No details other than that 😩

[locksmithnick]

I’ve always wondered, what are other people’s new vs returning customer numbers like? I’m a locksmith, not a coffee shop, so I imagine mine are a bit different than other types of businesses. I’m usually around 79% new to 21% returning. Is that good? 

[BiB]

Mine is opposite but I run a day spa. It's 30%-35%new and 65%-70% returning. We get a good mix of regulars and out-of-towners.

[Twpchair]

I’m retail furniture store and mine varies from summer to winter. In the summer I can be 60% new to 40 returning and in the winter months (I’m in a snowbird state) my new is still up but it’s closer. 

[SammyL32]

On my 5th square loan. 99% with $137 left, will clear it today. the loan was for $28k. no new loan offer still. sales have doubled in the last year. 150k to now on track for a 350-360k year. i process 90% card sales. antique store. average $1,500-$2,500 in daily sales. the last two loans came after pay off. before that it was 58% paid off with new offer. the fact that i have doubled sales the last 8 months, paid off this current loan in 5 1/2 months and still no loan offer is very concerning and confusing. all fields are green. i have had 1 dispute in the last 14 months. i do not accept refunds. i process 90% on cards over cash. i am strongly considering switching to shopify now. 

[locksmithnick]

Now that’s very interesting. Only two plausible reasons I can think of. 

1. Your growth is so strong and rapid, they’re evaluating you over a longer period to make an accurate loan offer. They don’t want the “boom” to be short lived or something, and then realize they loaned too much. 

2. It’s completely random who gets an offer, with green metrics being the only variable that puts you in the “pool” of potential offers. 

I’ve done 24 loans in 12 years and only gotten to 100% twice. The very first one, and one somewhere in the middle. Have a great weekend and enjoy seeing that 100%! 

[BiB]

#2. LOL

[BiB]

I feel your pain and frustration. Literally in the same boat but over two weeks paid off. Midsize loan paid off in 6.5 months and processing doubled. Hopefully something starts happening for people soon.

[SammyL32]

my business has quite literally doubled (thank god) but i need the next loan for holiday season inventory and holiday shopping in nyc starts end of October. So i am FRUSTRATED! I stopped making manual payments mid April to avoid that "10 day manual payment delay" so this has not only been organic pay off its been quick organic pay off! I truly do not believe the metrics are even real or truly considered. 

[locksmithnick]

I wouldn’t suggest ever making manual payments. That’s almost like telling them “I want this to be paid off and over with”. 

Trust me….they WANT to give you money, and BEFORE it hits 100% paid. That’s how they make more money…

[SammyL32]

will avoid that in the future. i just paid off the loan so lets see!

[Brewbabe]

When you say no manual Payments, does that mean don’t make one from your external account? Or can you still make manual payments that only come from your daily sales? I’ve been trying to figure out what people mean on here when they say don’t make the extra payments 

[Twpchair]

You definitely can, and why not if you have the extra or your busy season? I (just my opinion and experience) will tend to pay a chunk, around 50-60% paid off. Each manual payment can take up to 10 business days depending on banks, holidays, weekends, etc. Once you get up in the upper 80s, if an offer is coming or you have one and don’t see it, it is null and void, and you wait until it clears, then you go back into the algorithm. I got lucky once by doing it late in 10 years. A week after it cleared, an offer popped up. Again, this is nothing but everyone’s experience, and each and every one of us processes differently than each other. I have been on these boards for 4 plus years and am just going by the numbers. Good luck with your loan, and hopefully, it soon.

[SammyL32]

UPDATE: I cleared the loan yesterday around 2:30. this was a 28k loan paid off in 5 1/2 months. At 5pm last night I received  a 120 day 10k cash advance. I am truly astonished this is what i was offered. after doubling my business and paying off my 5th loan. what is going on? 10k... has anyone else seen this after a loan is paid off and their business has doubled in revenue? i am truly shocked. i am calling Shopify today. truly shocked.  

[locksmithnick]

Well, that’s different. Maybe don’t take it, and see what happens in a week or so.