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.

[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. 

[SammyL32]

actually in shock! i am most definitely not taking this. 

[locksmithnick]

How much did Square want in return for the $10k?

[SammyL32]

1k loan fee. for my growth over the last 12 months, this feels like a slap in the face. Very strange. 

[locksmithnick]

I’m sure it’s nothing personal, they’re probably just experimenting. Do you have the Square Credit Card?

[SammyL32]

definitely not personal considering the majority of the company is AI now. and no to the credit card, i have kepot checking and other banking separate from square the last 4 years.  This hasn't effected the other large loan offers in the past for me.

[locksmithnick]

No new loans for anyone here over the weekend?? 

[BiB]

No. ☹️

[OceanHills]

Negative 

Currently at 80%

[Movecrew]

I got one it was way lower than expected. Got it exactly at 80% paid off 32,000 loan. New offer 20,700 i was expecting more but im grateful. This is my 19th loan totalling over 600k

[locksmithnick]

Sales and transactions up over last year? 

[Movecrew]

Yes but not very much. 

[addisonsgrace]

Nope 

[CurlyDoodle]

I don't mean to be rude, but why would anyone with a successful business take out 6, 7, 8 loans? Some of you have commented it's just to "put the money in the bank" and that puzzles me the most. Are these loans interest free? Are you not making enough money, or budgeting for slow times? I understand if you can't make payroll or need a large piece of equipment, but even so a loan is just another anchor dragging your business down.

[locksmithnick]

If they’re like me, someone who has been using Square Loans for 12 years, the fee is basically passed down to the customer anyways. 

So you’re giving me, for example, $45,000 and you want $51,000 in return. Well I make $6,000 in a week. In my line of work it’s mostly all profit anyways. You can choose to payback anywhere from 10-20% of your daily sales, it’s crazy convenient, and it’s way easier to save money when it comes in big chunks like that. I can understand how this wouldn’t work for a restaurant or something with tight margins, but for a service/labor business, I don’t even notice the 10% missing from each transaction. I get $175 from a $200 job….$25 a job feels insignificant compared to the $45,000 loan. 

[BiB]

 The Lending industry is huge. Banks have whole departments for it. Banks are there for lending. Just because a business takes out loans doesn't mean it's not successful. Square lending has it's on niche as well, especially for small business where we don't have the same access to capital as major corporations. It's understandable why people are frustrated and ready to leave when they have been loyal, made all their repayments on time or early, have met all the criteria, processing power is up, and then can't get a straight answer as to why they don't have access.

You can't grow your business without capital and sometimes opportunities don't wait for you to have the expendable cash built up. Hence, why there is lending.

[110bhinvest]

I’ve been waiting for 8 months to receive an offer. 

business if up 3x from last year and NOTHING! 

thinking about going to another POS if square doesn’t offer something.

[OceanHills]

Still waiting 

Hopefully today is the day, but I'll keep you guys posted. 

[locksmithnick]

I’m sitting at 68% paid. Sales up 30% over last year. We’ll see what happens around 70-75%…

[BiB]

🤞🏻