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]

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.