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.

[locksmithnick]

I accepted the offer but they still haven’t approved it. The person/bot that usually just automatically rubber stamps mine must have gotten laid off lol. 

[Papaya]

Hi @locksmithnick !

Thanks for writing. 

Please keep in mind loan application review is 1-3 business days. Once your loan is reviewed, you will be notified via email.

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

[OceanHills]

Keep us posted. The most I've ever waited was maybe 5 minutes, even on the weekends 

Trying to gauge if the process is different now. 

[locksmithnick]

And strangely enough, mine is approved and deposited right after my comment! 😂

[OceanHills]

That worked out! 

Still hoping there is movement on my end. 

It's been completely different apparently this year. 

[BiB]

Same. 🤞🏻

[Swain]

I got an offer today just wanted to share so don’t lose hope! 68%

[Davidjohnedgex]

Congrats! We are all just flabbergasted at how they choose who qualifies for a loan and at what percent. Some folks have flourishing businesses through square and exceed numbers and estimates and still don’t qualify and over 80% as well. 

[Ters6]

@Swain @locksmithnick 

As mentioned in a previous post, we're on our third Square Loan and currently about 69% paid off. Our business growth with annual card processing increasing by approximately 60% from the previous year. We're heading into our busiest season, with monthly card volume expected to reach $50K-$75K over the summer. Already in June, processing from 25k average to 38K average. 

Recently, we've been contacted by Uplyft Capital regarding their merchant cash advance product. The timing seems interesting given our growth and current loan status.

Has anyone else received outreach from the Uplyft merchant product? Are they actively marketing to Square sellers? My concern is how: API  to securely bridge your business data with your Square account. It seems kind of sketchy. Is this legit?  

At this point, we're planning to stay with Square and wait for our offer. Is this a scam? 

[BiB]

I've had pretty explosive growth over the last year as well and was also approached by Uplyft. The fee was comparable to Square or less if I pay it off sooner. I have been waiting to see if Square offers anything but I may end of going with them if nothing changes. I prefer keeping everything with Square but I also need to prepare for the upcoming holiday season so not really sure how much longer I'll wait on them to give me an offer.

[Ters6]

@BiB 

This morning, my main concern was the timing and understanding of how the integration worked. I thought it was sketchy at first. 

After research, the difference it seems,  Uplyft has a Trojan horse- first, moving- can now connect via APIs and access processed data - credit card revenue without businesses changing their POS systems, especially with this merchant product.  Personally, I'm not comfortable adding another third-party integration that has access to payment POS and banking info, using an already third-party.

We've had a good experience with Square, and we will have an offer soon. Just something to think about; we may be offered the same loan. It's another tech integration. My understanding may be limited with tech integration if Uplyft is reaching out to your business. It's not a guarantee, but hopefully you will see an offer soon from Square. 

[BiB]

Thanks for the info! I haven't made a decision or looked into very much, honestly. Just leaving it as an option and knowing it's there should it become necessary. I too would rather keep everything together and in the same system. I also thought it was strange to be reached out to after completing my loan but just figured they are trying to get Square's customers.

[Ters6]

@BiB 

I received an offer today at 69%.  It was nice to see, it will help with the growth over the summer.  Hopefully soon for you. 

[Alexis321]

Is Uplyft is part of Giggle Finance?

[Ters6]

@Alexis321 

I dont think it is part of Giggle Finance. I looked it up to see if there were any connections between them and could not find any links. In Canada, Merchant growth aquired a lot of the smaller fintech lenders. Now with US lenders wanting to expand into Canada, I am becoming more familiar with the names. I actaully think it is good for Canadian business to have more options. 

[Alexis321]

Partnership with Uplyft Capital

Uplyft Capital

We get it - time is money, so get your business funded now

Uplyft Capital - Giggle Finance https://share.google/Nx4Krl4x9WRN59yMa

I only asked because when I checked Uplyft capital it says they are partnered.

[hailey2]

75% off and no offer yet. All metrics green. Hoping something comes in soon because we're entering our slow season. 

[OceanHills]

• This has been a really weird season. I'm at 81 with all of my markers green and still nothing

[hailey2]

right! this is only our second loan, but we received the offer when we were only 51% paid on the first one because we are paying it so fast. We usually hit our minimum payment within 2-3 weeks.