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]

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. 

[LCOULL]

Has anyone been offered a loan recently? Waiting to be offered a 4th one. I'm paying off my third loan right now and I'm at 77% paid. I received my second loan offer at 54%, and the my third at 70%. I am up 41% for the year, and everything is green. I know everyone is saying they aren't offering as much anymore, but then I read an article they have given out the most loans/Advances then they ever have. I'm wondering if I should switch my business over to Shopify or Paypal.

[BiB]

I've been paid off right at 4 months, processing up 110% consistently, and everything green. Nothing.

[ammae]

Seeing if you ever got an offer?

I have been with Square since they started. My square loans all have been paid off, but I ah e not received and offer like I have in the past. When I had my last loan through them and would check my factors - I noticed they took those away and said I am was not eligible for a loan. So I am guessing I am not going to be receiving any offers any more. 

So checking to see if you ever got one or what you decided to do? 

[BiB]

Still no offer. I'll finish out what is left of my contract with Square (I received lower processing due to processing) and then I'll be switching to another processor or I may switch sooner and pay the little fee for it.

I've been with Square for almost 12 years.

[ammae]

Thank you for the response. I am guessing my offers are gone cuz they have taken away my factors for me to see. So right now I can’t even see if I am in the green or not like before. 

Have you seen anyone comment on the page about have their factors taken away and still get offered a loan? If then taking the factors away means no loans then I will be switching companies. 

just sad that I have been with them since 2010 and never been anything but in the green and everything have been increasing 

[BiB]

I'm sorry. I haven't seen that anywhere. You could maybe look on Reddit? There are several Square loan threads there. I'm the same as you everything good and always steadily increasing (minus the COVID shutdown). I hope you can find the answers you're looking for or able to get the funding you need, however that turns out for you!

[Twpchair]

Who stated you weren’t eligible for a loan? Did you call in or do you mean on dashboard where you check your account?

[Abby_M]

Hi @LCOULL 

Thanks for posting on the Seller Community.

Your account is actively evaluated every single day for new offer eligibility. While automatic offers aren't triggered at specific repayment percentages or status benchmarks alone, your business's progress is constantly being monitored.As you continue making payments and growing your sales, our system will automatically notify you the moment a new loan offer becomes available!

Hope that helps, please feel free to reach out to us directly if you have any other questions!

[Alexis321]

I received a loan offer 20 minutes ago. It was about the same as my last offer and it came in at 68%. I usually only get offers after its paid off so this was unexpected. 

It's also Saturday and I wasn't aware that they did loans on the weekends. There was a difference in that the communication said it could take 1-3 days to process even though it's deposited directly into my business square account.