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.

[Twpchair]

Good luck and keep us posted’

[Ambenben2013llc]

Hi everyone Im on my 3rd loan and believe it or not they havalways come in early, ranging from this last one of 49k at 42% paid in to 50% paid in. Ive actually done more sales in 3 months then my complete year last year. Everything is green and currently we are paid in at 52%. I dont forsee an offer coming our way, but you never know. The last offer we took stated we had "unlocked a special offer" not sure what that means but I took it. BTW im a private chef and caterere sitting at about 170k sales to date.v Last year was 248k sales for the complete year. Heres to good vibes!

[Twpchair]

For the most part, it's been running much higher than normal, and it's now paid off. Of course, you see a couple pop in the 50s, one last week at 27%!!! Keep processing and increase the sales amount of the swipes and see if the algorithm picks it off! Good luck. 

[Srachurros2]

Any update for this week? 

[TheRealChipA]

I've been getting loan offers regularly, which keep increasing every time.  The offers started around 70%, which seems to be the absolute low end for most people anymore.  I'm at 95% and just got an updated offer last week.  I'm not really in the market, so I'm just throwing this out there for reference.  Also for reference, these are the biggest offers I've ever received -- in the mid 5-digits.  But my card processing volume this year-to-date is up 22% over last year and this month is up 50% over last year.  Hence the large offers since the loan AI seems to sense a big growth pattern.

[Twpchair]

So far, a couple of people, but I believe both declined the offer. It's their busy season, and they didn't need it. The bar is set high for processing and for increased sales and new customers. They are looking for strong, healthy businesses to invest in, along with your prior history. Good luck and keep us posted.  

[BiB]

Has anyone used Chatgpt (or similar) to predict an offer? Was it correct, helpful, and/or insightful?

[TheRealChipA]

@BiB In order for any AI agent to be helpful, it would have to first be trained on or have access to individual Square accounts.  It would need to look at our sales trends and it would need to compare Square sellers' loan offers with various metrics when the offers were received.  Since our Square data is secure and only accessible by us using our login credentials, this would not be possible.  And if it were possible, it would mean that Square has a serious security hole that would need to be addressed yesterday.

[Twpchair]

To predict an offer no. There are “fly-by-night” lenders that, with your permission, can get access over your whole square. And banking will promise you xxxxx amount, but I do not recommend that at all! That has led to big problem down the road. 

[BiB]

I did not have any intention of going down that route. Lol. I remember seeing a comment in one of these threads that someone was using so out of general curiosity, was wondering how it went for them. I'm fine. I am a little annoyed that I haven't gotten I offer when my business is literally the strongest it's has ever been but I'll be ok if I don't get an offer.

[CRMHC19]

I just wish that Square would release a statement to share if their criteria has changed.  If they plan to change the requirement to 100% paid off, that’s great - just let us know so we can plan around that.  I’m at 89% paid on a 15k loan, less than $2000 left to pay off, but no sign of a new offer.  We should all be made aware of changes that affect our borrowing power.  We need more transparency.   

[BiB]

..

[BiB]

5***

[TheRealChipA]

@BiB  that makes a lot of sense.  The other issue with Square loan once you've crossed a certain processing threshold is that you pay them off too quickly.  Since the loans have flat fees, you are better off paying off loans over 9-12 months resulting in a lower effective APR.  I've been analyzing loan offers lately by using my projected monthly card volume to figure out how quickly I'll pay it off and how much the effective APR% is.  What I've learned is that I do not want to take out loans too close to my high season (ice cream) or the fee borders on usury.  If I did use a Square Loan at all, it would ONLY make sense to take out one after high season to help with cash flow through the winter.  But, like you, after 13 years, I now have a great LOC with my bank that is much less expensive than merchant cash advances, so I'd only use a Square Loan now to further some new financial goal that I want to commit to.  Like you implied, it's a good place to be after sweating over this business for over a decade.

[BiB]

Did you ever get your offer? You're so close!

[Twpchair]

How's it going on your end?

[BiB]

Nothing. Processing up 84% YTD and loan almost paid off. Last 4-5 months, I've done more than I ever have and everything is consistent/growing. 

[Twpchair]

Well, that's not what I wanted to hear. The only plus is that it will be all yours. Hopefully, the next one is yours. 

[Ckmisskelly]

8k loan 74%paid off no new offer & im still like peeking at my notifications 

[Alexis321]

I'm 87% paid no new loan offer yet! Waiting...

Hi everyone!

[Llcdeliciass]

Have you gotten an offer already ?