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.

[CTC18]

My last loan took two business days to approve.

[Windycity]

Yea usually takes 2 business days for me too

[Cafegripons]

Unfortunately they declined it, due to other location still have balance and we were shut down due to accident after further notice. 

did anyone experience getting declined and received another offer? 

[Twpchair]

I’m not going to sugarcoat it, but first, try to take care of the other loan. Second, it will take some time. Once you’ve re-established a good relationship with Square (by paying off all the debt and not requesting any returns or refunds), the issue will be resolved, and offers will start appearing again. I’ve seen new offers pop up after 6 months to a year. How long have you been with Square? Your past history is a significant factor in loan approvals. Good luck, and hopefully, everything will go smoothly. 

[DTM4446]

sort of trying to figure this out too. record sales for 3 months, second loan paid off early. They pretty much badgered me with offers back to back at first and now that it’s paid, silence. It’s very confusing. Feels like being ghosted. 

[Hairplaysalon20]

I just received offer yesterday at 70% paid off on 10th loan, still owing 10,000 on current loan. I’ve received offers from 40% -82%, as soon as it hit 70% yesterday my offer appeared . Good luck everyone 

[Windycity]

Yea I just hit 76% - interested to see as last one I got was around 70%ish - be got a feeling it will be this week. Would

be nice 

[CTC18]

I’m on around my 15th loan with Square. All previous offers have come in between 50-75% except my current offer was around 89%. It was also only 1/4 of my previous loan. I took it regardless. I’m now at 53% paid back in 3.5 months. Hoping although I’m only at 53% that the algorithm picks up on the fact that I deserved a higher offer.

[TinySociety]

92% paid off in two months. Loan dashboard hasn’t updated in two days. Any insight?

[CTC18]

And I was upset I’m at 54% in 4 months. 😮‍💨 mine updated later than usual the last few days but always does daily. Not sure about when it doesn’t.

[SammyL32]

Just cleared my 10k cash advance loan given to me July 20th after completing a 27k loan in 5 months. I have already made what I made all of last year. I am on track to 450k year.  I was absolutely shocked and disappointed they gave me a 10k cash advance. I cleared the loan on Monday and it still hasn’t updated. If they hit me with another 10k cash advance I’m going to switch to Shopify. Not sure if anyone else has experienced this? 

[BiB]

I have had almost the same experience except not receiving the new cash advance. Paid offy loan quickly and processing doubled from last year and also projected to process between 450-500k this year.

[Twpchair]

Nothing yet???

[BiB]

No. I'm done at this point.

[Twpchair]

I am so sorry 😞 I was hoping you would have received an offer. 

[Twpchair]

I am so sorry 😞 what does account services in the loan department say?

[BiB]

I asked to escalate to a manager so they can tell me what is either holding my account back or what insight I can be given. All I  got was a generic email. Quote:

Thanks for reaching out. This is Name, an Escalations Manager reaching out from the Square Loans team.

We understand that a Square loan offer is important to your business and not being eligible can be frustrating, but we are unable to override the automatic loan offer review process with a manual review.

We do not have a specific timeframe for when another loan offer may be available. However, we will continue to automatically review your account for eligibility.

If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

Thanks for your time. 

That's what I get after 11.5 years with them.

[Windycity]

This week went from 75%-80% with still Sunday (usually a pretty big day for us) left. I’m very curious to seen when another offer will populate. I have this feeling it will be tomorrow night/monday 🤷‍♂️

[CTC18]

Anyone with any updates? At 57% paid back, 3.5x over the minimum due. Hoping this time will be a new offer for me in the 60s as opposed to almost 90s with how quickly I’ve paid this back.

[shara]

Question about Square Loans and making an extra payment:

I’m hoping to get some insight from other Square Loan users. I’m getting ready to apply for what would be my 4th Square Loan.

With my previous loans, it seems like I received a new offer when my current loan was somewhere around 65–85% paid off. I’m currently working toward that point and trying to figure out the best way to approach it.

My question is: Has anyone had experience making an additional payment toward their Square Loan and then receiving a new offer sooner?

For example, if I make an extra payment directly from my bank account rather than simply continuing to make the payments that are automatically collected from my clients’ Square transactions, does that seem to help trigger a new offer or speed up the eligibility review?

I realize there are no guarantees, but I’m curious about people’s actual experiences—especially anyone who has done this with their 3rd, 4th, or later Square Loan.

Thank you!

[Twpchair]

Hello, you can and if it speeds up or slows it down there are no guarantees. I will tell you that loan 3-6 can be a little bit different. You are just starting to get a working relationship with Square and learning how the process works with loans. A good working relationship and understanding how you operate is a key part of loans. It’s not all numbers and scores. That being said, are you closer to 65% or 85% paid off? Remember, if you pre-pay there is up to a 10 business day turnover to clear everything out and then you go back into the algorithm. I have pre-paid before, and I learned fast enough that I try to do it at 65% or no later. That way I know in about 10 days I would be close to paid off anyways, so I don’t have hardly anything to roll over.