Square Loan

Damien_H

Small business. Just really starting amping up processing through square in October 2023. Received loan offer 11/1 small amount $1700. 78% paid off, projected growth is 2.5 of that now & growing. Will a new square capital loan be offered ? I see they say 3/4 paid off & if so do they loan off a percentage of what you projected to make going forward or some other way ? Thanks

marielmt

Hi @Damien_H !

Thanks for posting on the Seller Community.

When determining your business’s customized offers, we consider many factors including your business’s history with Square, processing volume, and progress on any plan that’s currently active.

As your business continues to repay its existing loan, we’ll also re-evaluate its eligibility for new offers. This 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.

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

marielmt
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

Damien_H

Thanks for responding. Everything is great across the board, all green from past to my current loan. 81% paid off. Business has tripled since my current loan on 11/1/24. I’ll continue working patiently waiting on a new offer. Thanks