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.

[kacey_k]

I completely understand why you’re frustrated. Based on what you’ve described, it sounds like you’re stuck in a loop where the verification request is asking you to upload information that was incorrectly pre-filled. Unfortunately, that’s not something you can fix on your end if the system won’t let you edit it first.

At this point, I would not cancel the loan offer unless Square Support specifically advises you to do so. There isn’t a set timeframe for when another loan offer would appear if you cancel. Some sellers receive another offer quickly, while others may wait weeks or even months depending on account activity and eligibility. Once an offer is declined or canceled, there’s no guarantee the same offer will return.

Regarding your other questions:

• There isn’t currently a customer-facing page that shows “your account is under review” or when a review has been completed. Typically, sellers are notified by email or through their Square Dashboard if additional information or a decision is available.
• Square Champions (like myself) are experienced sellers and community volunteers. We don’t have access to seller accounts, loan applications, or internal review statuses.
• Square employees and moderators do monitor the Community from time to time, but posting here doesn’t automatically escalate or link your case to your Square account.

Since you’ve already replied asking for clarification on exactly what documentation is needed, I think you’ve taken the correct next step. If they continue sending the same generic response without addressing the incorrect information, I would reply directly to that email again and clearly state:

“I’m unable to complete the verification because the information your system pre-populated is incorrect and cannot be edited. Please either correct the information on your end or tell me exactly how to proceed.”

I know waiting is incredibly frustrating, especially when you’re trying to move forward with your business. Hopefully someone from the verification team reviews your response and provides more specific guidance rather than another automated email.

Please keep us updated. I’d genuinely like to know how this gets resolved, as it may help other sellers who encounter the same issue.

[ILA1677143]

Thank you so much for your reply and help. It is extremely frustrating waiting at least two days for a reply and then getting another generic answer. I really don't want to have to cancel the loan app but I may have to at this point and pray I get another one quickly. I will try sending the response you suggested when I get a response from them again and see what happens and I will def keep you posted. Any chance you know how emails are answered? Like if I reply again now to the email will they see them in a thread, w/the latest one l sent on top or would it just be moved to the back of the que? Thanks again for all of your help! 

[kacey_k]

You’re very welcome! I completely understand why you’re feeling discouraged. Waiting days between replies only to receive another generic response would test anyone’s patience.

As far as how their email system works, I don’t know the specifics of Square’s internal ticketing platform, so I don’t want to speculate. In most support systems, replying to the same email keeps everything together in one conversation for the reviewer, but I can’t say with certainty whether it affects your place in the queue or bumps the ticket to the back.

My personal recommendation would be to avoid sending multiple follow-up replies before they respond, unless you have important new information to add. Some support systems treat each new reply differently, and since we don’t know how Square’s works internally, it’s probably best to wait for their next response before replying with the clarification we discussed.

I really hope someone takes ownership of your case soon because this doesn’t sound like a situation you can resolve on your end if the information you’re being asked to verify is incorrect from the start.

Please do keep us updated. If you’re comfortable sharing how this gets resolved, it could be incredibly helpful for other sellers who find themselves in the same situation in the future. Wishing you the best, and I’m hoping your next reply is from a real person who can get this sorted out. 🤞

[ILA1677143]

Thank you so much, I will wait and hope to receive a response soon. And I will def let you know what happens. Thank you again 🙏🏻😎

[Twpchair]

She is giving you great advice. Let me add a few. You have to get past customer service and get to account specialist/loans specialist who can clear it right up. Let me tag a couple of great ladies who can help before your offer disappear. @Papaya @abbeyc could you lead this lady into the right direction for an offer and it fill in the autogenerated form which needs to be updated. Thank you so much 👏👏👏👏👏👏 they will get you in the right spot. 

[ILA1677143]

Hi Tammi!

Thank you for your reply and for tagging @abbeyc  and @Papaya. I haven't heard anything from anyone as of yet, and I'm really panicking as we are coming down to the last few days that I have to submit "verification" for my offer before it is cancelled, but again, I cant submit verification to match something that is incorrect. Please send positive vibes, I'm praying to hear something soon!! Thank you all again for your help and guidance!! 

[Papaya]

Hi @ILA1677143 

Thanks for your post. 

Your loan application is incomplete and can’t be evaluated until you provide more information. Square Loans applications are reviewed on a case-by-case basis. Due to regulatory requirements, the review process may have changed from any previous Square loan application reviews. It is a part of our due diligence process to confirm some of the details of your application.

Please submit the requested information through the Information requests tab of your Square Dashboard or the Square app.

From the Square app:

1. Tap on More from the navigation bar at the bottom of your screen
2. Tap on Settings > Information Requests
3. In Active requests, you’ll see a list of the requested items

Once the information is submitted, we will review and get back to you within 3 business days. 

If you have questions about the form or are unsure what documentation to send, please visit our Information Requested for Square Loan Application FAQ.

Please contact us directly if you have other questions. 

[Twpchair]

You’re welcome! I see they both replied backed. Hopefully, you can get it straightened out. Best wishes!

[3teesprints]

I love that you are so positive with your response.  We don't always get that!!  

[CAULI-ME-CRAZY]

Hello, started square in February of this year kind of just stumbled upon it while searching through POS systems and decided to give them a try first. So far so good! I received a square offer in April almost immediately once I hit the $10,000 mark it was a small offer. Of course I took it because as a new business it came at a perfect time. I am now at 80% paid off,  sales are up and all metrics are green. Came here to see at what percentage new offers come through but seems like they are all over the place. Really needing extra funds as we are getting a new food truck and I need to get some things for it and extra product. Is there any way to expedite a new loan?

[OceanHills]

I'm at 88 repayment and no offer yet. I feel it coming hopefully. 

Usually the daily check is around 1pm, it's 11:22pm and it hasn't checked for the day. It's never taken this long, so hopefully it's a sign of a good thing. 🙂

Will keep you guys posted. Has anyone had any news on their front? 

[Ggrice0208]

Hi 

got a offer last night half of what I had last time even though I'm 

processing double 

[Twpchair]

Congratulations!!! Hopefully, the next one will be 2x higher. Thank you for the update. 

[OceanHills]

I'm still at 88% with no offer, but something strange happened, which I am going to try interpret as good news. There was no check on my metrics, it actually hasn't updated and we are way past the 24 mark. Maybe the AI is formulating the underwriting as we type. Haha

[Boatlanding]

Hopefully that is a sign of an offer coming your way, please keep us updated.

[OceanHills]

It's another false alarm. 

Just updated at 12:30pm and nothing. All metrics are in green. No offer or change. 

[BiB]

🤞🏻We are rooting for you!

[Twpchair]

That would be awesome news! I’ll check mine out. I’m usually between 1-2 pm. 

[Boatlanding]

Great to see that offers are still going out even if it was lower than expected. 

[Twpchair]

I know it’s disappointing but, it’s starting to move and that’s good!

[OceanHills]

I don't think it's starting to move. I think it's starting to move for very few.